The market is adjusting after a long weekend. The VIX fear gauge is stable. Oil and the US dollar are flat, as is gold, which really should be soaring …
- In 2002, Robert Kiyosaki predicted that 2016 would bring about the worst market crash in history, damaging the financial dreams of millions of baby boomers just as they started to depend on that money to fund retirement.
Kiyosaki wrote the “Rich Dad” series and his premise for the prediction is simple one: the first wave of baby boomers hits 70 ½ in 2016 and they start taking required-by-law distributions from traditional individual retirement accounts. This will cascade into a stock market crash making their retirements worth even less, which will … you get it.
An interesting premise, and when connected to global economic concerns, crashing oil prices, Moody’s downgrading China, and the paper debt of the Fed, etc., well, his prediction seems inevitable …
Maybe … I have a different take, though. I see the IRA withdrawals as a good thing – lots and lots of money sitting in the market doing nothing gets turned back into consumer money doing something – driving the US economy.
- Contracts to buy previously owned U.S. homes rose sharply in February, reversing the previous month’s deep decline …
- In February, The auto industry sold vehicles at an annualized rate of 17.5 million units, about equal to the full-year record set in 2015.
- Jobs Report Shows Brisk U.S. Hiring in February
Houses, autos, and jobs are three big market indicators for me. Oh! And gold, the place to go if you see a market crash coming – still around $1200, even after the worst market start in history and Kiyosaki’s prediction that the worst market crash in history is coming this year. Maybe …
