Posted on 05/18/2010 7:05:51 AM PDT by blam
Dow Theorist: Sell Everything Liquid, You Won't Recognize America By The End Of The Year
Joe Weisenthal
May. 18, 2010, 8:57 AM
Image: US Army
WHOA!
Richard Russell, the famous writer of the Dow Theory Letters, has a chilling line in today's note:
Do your friends a favor. Tell them to "batten down the hatches" because there's a HARD RAIN coming. Tell them to get out of debt and sell anything they can sell (and don't need) in order to get liquid. Tell them that Richard Russell says that by the end of this year they won't recognize the country. They'll retort, "How the dickens does Russell know -- who told him?" Tell them the stock market told him.
That's pretty intense!
Update: By popular demand, here's more on what he sees in the market:
And I ask myself, "Am I seeing things? The April 26 high for the Dow was 11205.03. The Dow is selling as write at 10557 down 648 points from its April high. If business is even better than expected, then why is the Dow down over 600 points? And why, if there were 674 new highs on the NYSE on April 26, were there only 20 new highs on Friday, May 14? And if my PTI was 6133 on April 26, why is it down 17 points since its April high?
The fact is that I've been seeing deterioration in the stock market ever since early-April, and this in the face of improving business news. The D-J Industrial Average is composed of 30 internationally known top-quality blue-chip stocks. These are 30 of "America's biggest companies." If Barron's is so bullish on the future of America's
[snip]
The DJIA is up 62 as I post. See here.
(Excerpt) Read more at businessinsider.com ...
It’s like the Police Officer that spoke with our neighborhood watch said most burglary deterrents (ie alarms, bars, dogs..) will not keep a determined theif out but a thief is naturaly lazy or they wouldn’t be a thief, why work so hard when he can go a few doors down and find a house with none of those things and be able to walk right in and walk right out.
Thanks ... bookmarked!
(But I skipped ahead in the book - it will be OK)
THANKS.
SOUNDS REASONABLE, FROM ALL THE PUZZLE PIECES I’M SEEING.
You don’t sell your money, you trade it for food, medicine and ammo.
Would likely be good to email the doc and link to all those we love.
Exactly right, a good bike can take you where ever you need to go. Just make sure it got a rack, saddle bags and a basket for carrying stuff. Also leave early! Your bike will be very popular when cars can’t get any where. Spare tire tubes and a hand pump are a must on any long distance trip.
I was getting flamed for saying we were in a recession back in 2008. Of course Bush was President and they gave me all sorts of “technical” reasons we weren’t in one and then lo and behold! Announced we had been in a recession from 12 months earlier.
Thanks for the ping!
Food for thought. And all these folks blabbing their ham call signs need to have their heads examined. They’ll get 50 miles out in the boonies and broadcast their location in plain English with a Federal database readily available for anyone that wants to know where they live.
I was getting flamed for saying we were in a recession back in 2008. Of course Bush was President and they gave me all sorts of “technical” reasons we weren’t in one and then lo and behold! Announced we had been in a recession from 12 months earlier.
LOL ... for sure ... I remember some of those discussions (with other FReepers) on other threads.
It was like, "No, that's not true, there's no recession; it's just a liberal trick."
And then, when it was said that it had started a year prior, it was... "The liberals are lying as usual -- saying, 'It's Bush's fault.' There's been no recession for the last year!"
Now, I voted for Bush, both times and I would vote for him again, even though I've noted that many FReepers say that they would never vote for Bush! :-) But, even so, that doesn't mean that there wasn't a recession in the works for the last year.
I personally don't blame Bush for that kind of thing anyway. I mean, Presidents don't control everything and sometimes there are "cycles" that you just can't get out of. At some point, there's going to be a recession and later we have boom times, and then it goes back again.
If one wants to spread blame around, there's the Congress (the House and the Senate), and then there's even the judicial system, as some laws that are passed (if they would help, or maybe they wouldn't...) are overturned and/or gutted by judges (some reasons are good and others are bad).
And then, ultimately, there is the voting electorate who put various legislators in office, again some good and some bad. The voters, themselves, do this.
Then you have economic things going on for decades, that many in the past have written about saying that utlimately, we're going to have a crash because of them. I have seen so many books and articles from the 70s and forward, saying that we're in for another Great Depression.
I've noticed that "news" that is not to one's "political liking" -- must be false (according to some) and what fits one's political persuasions -- that news must be true. Much "news" here is picked according to how well it fits the notions that the poster has in the first place ... :-) ... and I'm saying that as one who has voted for the GOP and simply would never even entertain the idea of voting for a Democrat (can't ever see a reason that would justify that ...).
Where this seems to come out the most, with "news" is when polls are put out. Inevitably, polls that reflect badly on one's own choices and preferences, those polls are "obviously wrong" ( ... LOL ...) and if those polls reflect well on one's own choices and preferences, well -- they're quite obviously true... doncha know ... :-)
I just think if the "news is bad" ... well, that's just the way it is... it's bad news even if it reflects badly on my own candidate. That's just life; it happens that way at times ... :-)
A funny thing happened at our neighborhood watch meeting with a police officer.
He said the thief is likely to call on the telephone or ring your doorbell first. He said “Don’t answer your door. Go upstairs and wave at him. Better yet, wave your Glock at him!”
Indeed. We leaned that we could eat just about anything. Even though we were poor, we didn’t know it and we were happy.
I have the love of God, my family & friends, my country-it’s rich history, and myself.
I do not look forward to the mighty storm that is coming, but I already know how to dance in the rain.
A recession only becomes a depression when an arrogant, stupid, stubborn oaf known as the govt refuses to take the necessary steps to turn it around. We could be out of this in 3 months if the govt would do the right things. But if they can’t be seen as the hero, they’d rather we not get out at all. But bad things are going to happen to them. Real bad things.
“New”?? American Consumer?
There are some of us who still believe that if you don’t have the cash for something you can’t afford it! (and not everyone should own a home)
“Food for thought. And all these folks blabbing their ham call signs need to have their heads examined. They’ll get 50 miles out in the boonies and broadcast their location in plain English with a Federal database readily available for anyone that wants to know where they live.”
FCC requirements, and Hams are sticklers for following the law (as I am one). However when the shtf that’s all out the door.
‘course depends on how severe the collapse. If the fed gubmint is still in charge we gotta play by the rules or they WILL track you down. Complete grid down situation—that’s another story.
Yeah, I know. But the online database is troubling to me.
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