Grandich To Star In New Movie?
Critics have already acclaimed that a movie documenting Peter Grandich’s stock market observations in 2017 can be bigger than:
It was just about a year ago when I stated that the Presidential election was IMHO, a choice between electing either the leader of the biggest crime family in the world (that would scare even the Corleone and Soprano families) or the world’s biggest narcissistic billionaire of all-time. I went with the lesser of the two evils most reluctantly despite knowing several people who had business dealings with Trump and warned me he will never last as President once he doesn’t get his own way.
The upcoming ungluing of Trump just may precipitate the “come from left field” event that always ends a melt-up. Just for the record, I see Trump pushing the Korea crisis over the edge sooner or later. I pray that I’m wrong but believe that he has already made his mind up militarily.
Given what I believed was America’s entry into its worst-ever social, political and economic era, I began 2017 convinced the stock market was very risky and for the vast majority, a time to lighten up versus stocking up. Unlike Fonzie, I can say, “I was W-R-O-N-G.”
In case you’re wondering who will play me in the movie:
Knowing the ultimate crime in investing is not being, but staying, wrong, I’m far more fearful now than I was at the start of the year. While this “melt-up” surely can continue, I sooner remain comforted in my belief that it’s not if we blow-up and suffer a financial crisis unlike anything seen in the modern era, but when.
If you need to see me, I’m here:
- It’s been my argument that the monthly employment numbers are not close to accurate and have been manipulated on purpose. I’m not alone in this belief.
- Historians will look back to explain the next great financial crisis and they will point out in “hindsight”, that the FED was adrift and without a rudder through most of Yellen’s tenure.
- Debt, deficits, and entitlements, can be ignored and kicked down the road only so far. That “end line” is closer now than ever. It’s not just the U.S. facing this crisis.
- Why we’re exhausted.
Final note – As bearish as I’ve personally been towards general equities, please note clients of mine who hold their equity accounts with C & A Financial through Dave Suckey and other financial advisors that I partner with on the insurance side, still are fully invested or hold the vast majority of equity exposure they had this time last year.
Again, I urge you to avoid Internet chat rooms where much of the participants would never state what they do if they had to put their real name to it and live in the real world.