When looking at the chart below, please keep in mind that I expect the euro to drop as I indicated on the chart…but regardless of that the S&P500 needs to drop roughly 20% just to catch up with the EURO which gives us a 300+ point drop for the index. Given that the scenario includes a drop in the EURO the point drop may well be SIGNIFICANTLY more.
All this is likely to happen rather quickly too…some christmas rally that will be…and just in time to draw the laser focus of the debate theme to finance and currency which will make the only guy in the room at the debates who can answer any question related to finance with any credibility - Ron Paul.
However, all is not perfect with Ron Paul’s knowledge of finance…perhaps the initial 15 to 20% drop for gold implied by the chart below, will call into question the Gold money thesis. BTW…Gold is likely going MUCH lower than a simple 20% drop…possible (and not unreasonable) projections for Gold place the metal down 50 to 60% and of course, Silver in the single digits.
S&P: These Ten Retailers Will File For Bankruptcy Next - Three weeks ago, we reported that Fitch had put together a list of 8 retailers who were likely next in line to file for bankruptcy. The rating agency spe...
42 minutes ago