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Finance expert warns 1987-style market crash coming in last half of 2013

August 14, 2013 Comments off

naturalnews.com

crash(NaturalNews) Not much prone to gimmicky pronouncements or over-hyped predilections, a noted financial expert says hold onto your 401k and investment portfolio, because by the second half of this year, there could be a major financial disaster not unlike the market crash of 1987.

Per CNBC:

The S&P has rallied 19 percent in 2013, which is impressive by any measure. But the market did far better in 1987, when stocks added more than 30 percent from the beginning of the year to Aug. 8. The problem? The market ended up tanking in the second half of that year – dropping 36 percent from the Aug. 25 peak to the October low, before closing out 1987 nearly exactly where it began.

And now, the publisher of the Gloom, Boom & Doom Report, Marc Faber, believes the very same cycle will repeat itself later this year.

‘Some of the tailwinds are no longer in place’

“In 1987, we had a very powerful rally, but also earnings were no longer rising substantially, and the market became Read more…

Household wealth down 23% in 2 years – Fed

March 26, 2011 Comments off

money.cnn.com

detroit_building.top.jpg

By Charles Riley, staff reporterMarch 24, 2011: 4:04 PM ET

NEW YORK (CNNMoney) — The average American family’s household net worth declined 23% between 2007 and 2009, the Federal Reserve said Thursday.

A rare survey of U.S. households, first performed in 2007 but repeated in 2009 in order to gauge the effects of the recession, reveals the median net worth of households fell from $125,000 in 2007 to $96,000 in 2009.

Titled “Surveying the Aftermath of the Storm,” the report offers a broad look at how the financial crisis impacted individual households.

It is widely known that the 2008 financial crisis resulted in the vaporization of trillions Read more…