The past week saw a flurry of economic predictions and warnings from various analysts and public figures. Hedge fund manager John P. Hussman warned of a bear market bubble in the early stage of collapse, while analyst Neil Dutta rebuked forecasters’ perpetual economic pessimism. “Rich Dad, Poor Dad” author Robert Kiyosaki warned of an impending crash, and Senator Elizabeth Warren expressed concerns about bank concentration. Meanwhile, a poll found that President Joe Biden’s economic policies are not resonating with voters.
It’s a Bear Market FOMO Bubble in Early Stage of Collapse, Warns Hedge Fund Manager. John P. Hussman, President of Hussman Investment Trust, warned that the current market advance is motivated by a fear of missing out on a bubble that is actually in the early stage of collapse. He noted that the most historically reliable valuation measures about the stock market are currently at or above their 1929 and 2000 extremes. Read the full article here.
Recession Always Six Months Away? Analyst Rebukes Forecasters’ Perpetual Economic Pessimism. Neil Dutta, head of economics at Renaissance Macro Research, challenged the narrative of a looming recession, arguing that the recent recession chatter doesn’t withstand scrutiny, particularly given current economic indicators. Dutta suggested that the “recession clock has been reset.” Read the full article here.
Prepare for Crash, Warns ‘Rich Dad, Poor Dad’ Author Robert Kiyosaki. Robert Kiyosaki warned of an impending crash, citing his visit to a restaurant during the weekend and highlighting the low prices and empty tables. He advised buying gold, silver, and Bitcoin. Read the full article here.
Elizabeth Warren Writes to Janet Yellen, Regulators, Says Allowing Further Bank Mergers Will Be ‘Dereliction of Your Responsibilities’. Senator Elizabeth Warren expressed her concerns about bank concentration and failures to curb the proliferation of lenders that are “too-big-to-fail” in a letter to top government executives, including Treasury Secretary Janet Yellen. Read the full article here.
Bidenomics Not Cutting Ice With Voters, Poll Finds. A poll found that President Joe Biden’s economic policies are not resonating with voters, with only 33% of the respondents approving of Biden’s leadership on the economicfront. The poll results come despite Biden’s efforts to highlight his administration’s achievements on the economic front. Read the full article here.