Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. All information and opinions on this website are for general informational purposes only and do not constitute investment advice. . There is no mistake that young people are far more educated as to the stock markets and financial matters in general than they were in September 1929 but in principle, there is little difference and the blame has to fall at the feet of the central bankers and the banco-politico minions that do their bidding. Just before the 1929 crash, Joseph Kennedy (father of President John F.) was supposed to have dumped all his stocks because a Wall Street shoeshine boy started giving him stock tips. If Trump is the new shoe shine indicator, then it is flashing red. It is a pretty exciting story especially for a gold developer trading at under US$30 per ounce of in-the-ground resource. But this is the same Wall Street that inflicted economic destruction across the disenfranchised middle class, so what has changed? Ballanger takes great pleasure in visiting mineral properties around the globe in the never-ending hunt for early-stage opportunities. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about.
Kennedy reasoned that, if even shoeshine boys were playing the market, there was no remaining, untapped demand to support stock prices . Is the marina dockhand story the 2020 version of the 1929 Joe Kennedy shoeshine boy? After he inquires why?
But Needham noted that while cash balances are currently "reasonably high," it's likely because investors are underweight bonds and holding more equities, which could be a bearish indicator. ": Statutory Cancellation for Beginners, What's in a Name? . With each dollar of newly created debt now creating progressively less impact on GDP, there comes a point in time where the perpetrators are faced with a staggering stagflation of sub-par growth and rising living costs. Additional disclosures are below. He said the real question was whether a large systemic problem was lurking on the horizon, as previous crashes followed specific events such as the U.S. housing bubble and unsustainable growth in tech stocks. I mumbled something like “My pleasure” (it really wasn’t) and then prayed he wouldn’t ask me for my next “hot tip.” I was mercifully thankful that I dodged a bullet and avoided having to retrieve my laptop from the bottom of Georgian Bay because the tuition money got flushed down the “Latrine of Stock Market Mania.”. Copyright © 2007-2020 Ross Kaplan. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise.
The following week, after parking the Ram in the upper lot, I turn around and there he is with a big smile on his face and looks me square in the eyes and proceeds to thank me for making him (and his father, too)(!)
I mumbled something like My pleasure (it really wasn't) and then prayed he wouldn't ask me for my next hot tip. Recently (as in two weeks ago), I was at our marina in Honey Harbour stacking boxes and coolers and clothes bags in anticipation of the arrival of the dockhand who loads the golf cart and transports all our “stuff” to the truck. 5). Well, here is a YouTube link to a recent study of the last six months around the world related to mortality rates and the pandemic. Home Marketing on MLS: “Beautiful Backyard, 1+ Acre, Butterfly Garden” (“Butterfly Garden?!
Economics is not exactly an exact science; sure, Economist Paul Krugman won the fake news award for failing to predict the economic growth under Trump. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved. However, the tone shifted post-election for Trump and his supporters. I determined which companies would be included in this article based on my research and understanding of the sector. The author was not paid by Streetwise Reports for this article. The author is wholly responsible for the validity of the statements. Dollar still at 'risk' as shutdown sequel looms, Taper tease? 4) This article does not constitute investment advice.
The gold and silver markets are biding time until the current consolidation runs its course but I am convinced that it will be resolved to the upside with US$2,350 gold and US$36 silver and US$50 GDX and US$85 GDXJ as 2020 year-end targets.
A dedicated market player in the 1920s, as rumor (or myth) would have us believe, one fine morning in late September 1929, he was having his shoes shined, reading the Wall Street Journal when the young shoe shine boy, noticing the paper Joe was reading, proceeded to offer a stock tip on a particular issue that has already advanced 4000% in the past year. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Shoeshine Boy - Eddie Kendricks (1974) - Duration: 3:16. Contrarian Indicator(s): Retail Investors (aka “Dumb Money”). This letter makes no guarantee or warranty on the accuracy or completeness of the data provided.
Is the marina dockhand story the 2020 version of the 1929 Joe Kennedy shoeshine boy? Streetwise Reports was not paid by the author to publish or syndicate this article.
Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. At least anecdotally, my sense is that those folks all “know” that stocks are risky, and to stay away. Click here for important disclosures about sponsor fees. According to the President’s tweets, the gains are attributable to the ‘Make America Great Again Agenda’ and it is ‘All Trump.
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Joseph P Kennedy is quoted as saying that he knew in 1929 that Wall Street was overly optimistic and a crash was on its way when he started to get stock tips from his shoeshine boy. Every opportunity is taken to update Trump’s 47 million Twitter followers of Wall Street’s record closes. He never boasted as it would have been politically damaging to celebrate Wall Street’s success while Main Street still suffered.
Also, I urge all of you to spend the time to listen to Grant Williams's recent interview with the gentleman known as TC (@TeslaCharts) who recently published a 2-part interview with Karl Hansen, the whistleblower that is suing Tesla and working with both the SEC and the FBI on the Tesla (and Elon Musk) investigation. Almost a century after Kennedy’s time, there are no more shoeshine boys. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. ← Mid-week technical outlook: Gold waits for Fed decision, RICE Analysis: Declining Vietnam exports bearish signal for rice price →, Gold Update: One Last Dip Likely Then Major Upleg to New Highs, Earnings Season: Here’s What Stock Investors Need to Know, Bitcoin hits $12,000 on Paypal move: Time is up for Bitcoin deniers. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. The 1970s era is the closest parallel to where we are today and as I have perpetually harangued for what seems like decades, it was not a very fun time to be raising families or managing retirement and only those very brave and ostracised souls that owned gold and silver were able to survive and, in some cases, prosper.
This White House is more susceptible to crises as we witnessed during the first term. the stock market would be down 50%’. Supporters reference the stock market as a success for the embattled president. An old beggar who regularly patrolled the street in front of my office now gave me tips and, I suppose, spent the money I and others gave him in the market. In President Obama’s first year in office; the Dow went from 8,000 to 10,067.37 a gain of 25.8%. The following week, after parking the Ram in the upper lot, I turn around and there he is with a big smile on his face and looks me square in the eyes and proceeds to thank me for making him (and his father, too)(!)
So, Who Pays For That Post-Closing Special Assessment -- the Buyer or Seller? You should be aware of all the risks associated with foreign currency exchange trading, and seek advice from an independent financial advisor should you have any doubts. Only time will tell. Always consult your registered advisor to assist you with your investments. Additional disclosures are below. 3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers.