Tice is basically a smarter, smoother. more long-term oriented version of Jreynolds. He's always a bear. If his current call turns out to be right, it's simply due to the "broken clock being right twice a day" effect. I like John Hussman of hussmanfunds.com much, much better. Hussman is somewhat bearish (due to current valuations) but much more objective. And despite a rough period between 2003-2006, he's still beating the major indices since his fund started trading in 2001.
Stock benchmarks fell for a fourth straight week, putting the market on track for its worst January ever. The Dow Jones Industrial Average ended the week down 507 points, or 4%, at 12,099. It has fallen 10% in four weeks, and is 15% off its October peak. This is the Dow's worst-ever start to a year. The S&P 500 ended the week down 76, or 5.4%, to 1325, and has pulled back 15% since Oct. 9. The Nasdaq Composite Index gave up 100, or 4.1%, to 2340, and is 18% off its October high. The Russell 2000 Index of small stocks fell 31, or 4.5%, to 673. Its 21% drop since July 13 puts it officially in bear-market territory.
"It will never go that low blah, blah, blah" Ya think people in Japan ala 1990 ever thought the Nikkei would go from 40,000 to 7,600? Or, even to 20,000, two years later?
That's old news around here... when passive rates don't cover inflation, you're paying them to keep your money...