Former Congressman Ron Paul says the stock market may crater 50%

08.12.2017 / 16:57

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In the latest vicious bear call on stocks that probably won't come true anytime soon, former Congressman Ron Paul told TheStreet he is looking for a 50% market correction. No timeline given, just a rogue 50% market correction. It could happen today if a person pulls the plug in all high-frequency trading server rooms globally. It could happen if aliens take over the Federal Reserve System (which Paul detests) and destroy global banking in the process. Who knows? All I will say is that as an investor it's ALWAYS critical to understand one's underlying motives. In this case, Paul is a noted fan of gold and often appears in commercials promoting the lovely yellow metal.

Hat tip to Tesla's (TSLA - Get Report) Elon Musk for making a massive semi truck, marketing the hell out of it, getting a wave of actual orders and stuffing the cash coffers. The latest is a 40-order lot from beer maker Budweiser (BUD) . Bud joins Walmart (WMT - Get Report) and J.B. Hunt (JBHT - Get Report) in ponying up money early on for the $180,000 ride. The key problem that no one is discussing, at least out in the open: How the heck is Tesla going to make these trucks? It can't even get its electric cars out the door to customers on time. The Tesla semi truck may ultimately sink the company financially. Think about it.

Judging by this technical chart on bitcoin via NewsBTC, bitcoin prices may not enjoy the same wild ride Friday as they did on Thursday.

Corporate America needs to get on with spending its cash to a greater extent: liquid assets of non-financial companies (aka cash equivalents) hit a record $2.4 trillion in the third quarter, according to new data from the Federal Reserve.

Source: Bloomberg Pro Terminal

Jr Trader Alexander Kumanov

Varchev Traders

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Former Congressman Ron Paul says the stock market may crater 50%

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