The past week saw a flurry of economic predictions and warnings from various analysts and public figures. hedge fund manager John P. Hussman While analyst warns of bearish market bubble in early stages of decline Neel Dutta Reprimanded the persistent economic pessimism of forecasters. “Rich Dad, Poor Dad” author robert kiyosaki warned of an impending accident, and Senator Elizabeth Warren Expressed concern about bank concentration. Meanwhile, a poll found that President Joe Biden’s Economic policies are not being liked by the voters.
Hedge fund manager warns it’s a bearish market FOMO bubble in early stages of decline, John P. Husman, president of Husman Investment Trust, warned that the current market rally is driven by fear of the disappearance of a bubble that is actually in the early stages of collapse. He added that the most historically reliable valuation measure of the stock market is currently at or above the 1929 and 2000 peak. Read the full article here.
Recession Always Six Months Away? Analyst berates forecasters’ continuing economic pessimism, Neil Dutta, head of economics at Renaissance Macro Research, challenged the impending recession narrative, arguing that the recent recession talk does not stand up to scrutiny, especially given current economic indicators. Dutta suggested that “the recession clock has been reset.” Read the full article here.
Be prepared to crash, warns ‘Rich Dad, Poor Dad’ author Robert Kiyosaki, Robert Kiyosaki warned of an impending crash, citing his visit to a restaurant during the weekend and highlighting the low prices and empty tables. He advised to buy gold, silver and bitcoin. Read the full article here.
Elizabeth Warren writes to Janet Yellen, regulators saying allowing further bank mergers would be ‘disregarding your responsibilities’, Senator Elizabeth Warren expressed her concern about bank concentration and failures to curb the spread of lenders that are “too-big-to-fail” in a letter to top government officials, including Treasury Secretary Janet Yellen. Read the full article here.
Survey finds Bidenomics not catching on with voters, A poll found that President Joe Biden’s economic policies are not going down well with voters, with only 33% of respondents approving of Biden’s leadership on the economic front. The election results come despite Biden’s efforts to highlight his administration’s achievements on the economic front. Read the full article here.