XPost: talk.politics.misc, alt.politics.usa, alt.politics.republicans
https://www.dailymail.co.uk/news/article-12206901/Wall-Street-brace-big-collapse-recent-rally-warns-Bank-America-analyst.html
'New shiny bull market' could be a mirage and Wall Street
should brace for a 'big collapse' after recent rally, warns
Bank of America analyst
Bank of America analyst Michael Hartnett believes stock market
rally won't last
. . .
He may be (mostly) right. The latest gains are
mostly based on the Fed not raising interest
rates. However the underlying economy is fragile.
Now the lesson learned is to NOT abandon the
stock market. I remember otherwise-sensible
people cashing-out BIG during the last crash.
They paid BIG taxes and then, a year later,
the market went way back up. Their panic
SCREWED them.
As such, we DO expect the markets to go way
down towards the end of the year. Might be
fairly significant - 30/40% drop. Seems like
the end of the world.
But experience shows it won't LAST. Markets
WILL recover within 18/24-months and then
exceed their current values.
So, as they say, DON'T PANIC. There WILL be
(another) rough patch - the Joe Effect -
but it's not the end of everything. Those
with umpteen millions/billions will shift
their portfolios a bit, but the average
investor just needs to have a speck of
courage and hold-off on significant expenses
for maybe the next 18/24 months. Your money
WILL return - well, assuming not too many
vote Dem/Wokie in the next election ....
Look, 'capitalism' is inherently unstable.
It's a sort of positive-feedback affair,
which makes it prone to banging between the
extremes. The big advantage of capitalism
is that it allows rapid response to changing
opportunities and local/global economic
conditions. In the end, it PAYS. You just
have to have the 'nads not to PANIC and stay
away from "Get Rich Quick" schemes. Stick
to yer dollar lottery tickets for that ...
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