There's a distinct possibility the U.S. stock market could plunge as much as 6,000 points if the U.S. continues to rack up record amounts of debt, causing the dollar to lose its reserve currency status, says Daily Ticker favorite Howard Davidowitz. (See video below) "The dollar has never been at greater risk," he tells Henry in the accompanying clip. Davidowitz is confident that if Washington doesn't cool its spending habits, interest rates will spike and inflation will soar. Look at the value of the dollar, and the crisis is already brewing, with foreigners and sovereign nations diversifying away from dollar-denominated assets, he says. What's an investor to do in this scenario? Buy hard assets, he suggests. Davidowitz says investors should own physical gold, silver and diamonds. He also thinks land is a winning bet, even suggesting young adults buy and work farmland. "I think investment in farmland with water on it is a great investment. Finance will be less important," in the future, he says. http://www.businessinsider.com/howard-davidowitz-dollar-crisis-dow-6000
even suggesting young adults buy and work farmland. -------------------- If you can download music on a shovel, my kids might be able to identify a shovel, but even at that they wouldn't know what it is used for... Basically kids aren't going to work the land. Nice thought though. whoops, facebook has a farmville...hmnnnnnn maybe that's what he is referrong to.
I love how they make such specific number predictions for such a large move ..."could plunge as much as 6,000 points"... basically implies that it couldn't possibly fall (plunge for headline wording!) 7,000 points! JJacksET4
Reminds me of Jim Rogers. The farmers will be driving the Ferraris. Food crisis anyone? Wait...isn't that why the Tunisian revolution started?
US financials will at least double from its current values. If you are a long-term investor, now is the time to buy.
A member has posted "Could you put just positivity in your mind and spread the good things of this world". Read this: http://www.elitetrader.com/vb/showthread.php?s=&threadid=217418
Moderators if you find this post inappropriate please delete it but do not ban me. Since I have been troubling elitetrader members from long time I am posting this here. I have some 500,000 acres of land for sale in rural USA (close to nature). These are Farms and Farmland, Agricultural properties, Ranches, Fishing properties, Cattle ranches, Big game hunting ranches, , Horse farms, Crop farms, Timberland property, Coastal property, Oceanfront land, Ocean view property, Golf property, Lakefront property, Mountain property, Recreational property. These properties are located in almost all the states of USA. The photographs/pictures are available on the website.
Comment posted on businessinsider: From ZeroHedge, 10/22/2008: "While markets across the world have been crashing, the Zimbabwe Stock Exchange has being seeing record gains as citizens turn to equities to protect their money from the country's hyperinflation. http://www.businessinsider.com/howard-davidowitz-dollar-crisis-dow-6000
Rising Stock Markets = Signs of Inflation? From ZeroHedge, 10/22/2008: "While markets across the world have been crashing, the Zimbabwe Stock Exchange has being seeing record gains as citizens turn to equities to protect their money from the country's hyperinflation. http://www.businessinsider.com/howard-davidowitz-dollar-crisis-dow-6000