Ron Paul, who’s a retired doctor, not an economist, has a prediction that in the very near future, the stock market will lose half its value. Guess who would be to blame? Why it’s the black guy, of course.
“A 50 percent pullback is conceivable,” Paul said on “Futures Now” recently. “I don’t believe it’s ten years off. I don’t even believe it’s a year off.”
According to his calculations, it would cut the S&P 500 Index in half, to 1212, and the blue-chip Dow Jones Industrial Average would collapse to 10,837.
Paul noted that there’s a lot of chaos in Washington right now, with an “unpredictable president” and those who are inclined to “tear him apart” but if the market takes that big of a tumble, he doesn’t see it as Trump’s fault.
“It’s all man-made. It’s not the fault of Donald Trump in the last week. If the market crashes tomorrow and we have a great depression, he didn’t do it in six months. It took more like six or ten years to cause all these problems that we’re facing,” he said.
Six to 10 years ago, hmmm, who was in office for the vast majority of that time?
Paul has spent much of his career as an economic doomsdayer, and sometimes it sounds like he’s right, just because, well, broken clocks and all…
Two years ago, he predicted nearly the same collapse, but he had a solution, which could be anyone’s for just $49.50 — for sale on his website, of course.
As part of an infomercial for Stansberry & Associates Investment Research, Ron Paul warned that a currency crisis “of epic proportions” would arrive soon and prophesied that life in America was “guaranteed to end in disaster” as “a total breakdown of the stock market” would lead to “civil unrest” and “authoritarian clampdowns.” Paul said people could avoid — and even benefit from — the collapse by purchasing Stansberry’s “Survival Blueprint” for weathering the coming catastrophe for $49.50.
The only thing Ron Paul hates more than regulations and the Federal Reserve, is a more diverse society. He’s a long-avowed racist who was never a fan of President Obama. In March, Paul’s institute ran a blog post that accused Obama of sabotaging Trump.
A 50 percent drop in the stock market would be disastrous for our economy, but as I mentioned, Paul is not an economist. He arguably predicted the real estate crash, but so did a lot of economists. Paul, like his buddy Alex Jones, is full of doomsday predictions and he has books to sell. If such a drop happens, you might be able to point fingers at some Obama policies, but it’s Trump who’s scaring the hell out of everyone, including investors. If we crash, Trump is driving the bus and he will get the blame — at least from most people.
Featured image via Pete Marovich/Getty Images