Jim Rickards Says Stock Market Collapse Inevitable And Probably Coming Soon

[dualstow]

Well, I'm revisiting this topic because while the market could still blow up, I think it's safe to say that "soon" has passed.
Nobody knows nuthin'.

[LC475]

I love things that are "Inevitable."

Even better, to compound arrogance with meaninglessness: "Almost inevitable"!

And, as has been pointed out, let's add uselessness to the list with: "Soon"!

A perfect recipe.  Thank you, Mr. Rickards.

[sophie]

Love predictions like this.  This one means that the stock market is going go up like gangbusters in 2015. 

What conditions have changed to make him think that the market will crash?  Everything he's complaining about has been the case for years now, except that business is poor...which is not true.  Of course, businesses are not exactly passing on their profits to their employees, but there are other reasons for that - primarily immigration, which is constantly flooding the market with cheap labor.

I also wonder if the increase in part time workers and in people who have opted out of the work force isn't due in part to the early retirement movement, and perhaps even an increase in self-employment & small business facilitated by Obamacare - combined with stagnant wages so that full time employment is becoming relatively less attractive.  Taking stock of my immediate family, I'm the only one of four siblings with a full time job.  One sister is a stay at home mom, another is an ER physician who works part time, and my brother is an architect who owns his own business and supplements with part time work at a design firm.  So I guess we exemplify Mr. Rickard's doom & gloom scenario, except that everyone is in fact happy with their situation and living a healthy upper middle class lifestyle.

[MachineGhost]

I find it curious that this Rickards' article has not generated any comments yet on this forum. Does he just have too much invested in the various scenarios he lays out to be taken (too) seriously? I read Currency Wars and it actually got me interested in physical gold which in turn led me to the PP. I have not read his latest book but I did watch a couple of online interviews with him last night. While he comes off as extremely smart, it's my impression that he doesn't really seem to have much angst about the financial ruin he sees coming. For example, he said he was "excited" to see Currency Wars prominently displayed in airports around the world. Hmm. Any thoughts? Thanks.

He's just another doom porner looking to cash in.

[MachineGhost]

i.ve seen many of his media appearances...he.s a lawyer and analyst...very rational and dispassionate. i salute him for shaing w the public his work

He's also a right-wing tinfoil kook.  A broken clock is right twice a day, 60 times a month and and 730.5 times a year.

[MachineGhost]

So I guess we exemplify Mr. Rickard's doom & gloom scenario, except that everyone is in fact happy with their situation and living a healthy upper middle class lifestyle.

How do they manage to live an upper middle class lifestyle only working part-time in NYC?  Seems like an oxymoron to me.

[sophie]

My sisters' husbands both work full time.  The point is, a lot of people not working full time does not necessarily mean that the business climate is poor, and still less that the stock market is about to crash.

[Reub]

i.ve seen many of his media appearances...he.s a lawyer and analyst...very rational and dispassionate. i salute him for shaing w the public his work

He's also a right-wing tinfoil kook.  A broken clock is right twice a day, 60 times a month and and 730.5 times a year.

Hey, MG! That doesn't make us bad people, does it?

[MachineGhost]

Hey, MG! That doesn't make us bad people, does it?

Well.... umm..... 

[hazlitt777]

I like James Rickards.  He seems very calm and thoughtful.  Also, his mantra is to be diversified.  I believe he does say no more than 20% in gold, which I disagree with.  But he is consistent and doesn't promote market timing...quite the contrary.