Published: Aug 21, 2017
Ron Paul: Stocks may get chopped in half within a year, but it won’t be Trump’s fault
By SHAWN LANGLOIS
Marketwatch.com
Last month, libertarian and multiple campaigner for president Ron Paul made headlines with his gloomy prediction that the stock market, plagued by an overrated recovery for the U.S. economy, could plunge 25% by October.
Obviously, not much in the way of positive news has come along since then to change his views. In fact, he just took his bearish outlook up a few notches.
“A 50% pullback is conceivable,” he told CNBC, earning our call of the day. “I don’t believe it’s 10 years off. I don’t even believe it’s a year off.”
That kind of damage would bring the S&P down to 1,212 and the Dow Jones Industrial Average to 10,837.
But Paul isn’t jumping on the increasingly crowded anti-Trump bandwagon, as least as the president pertains to what’s happening in the stock market.
“It’s all man-made. It’s not the fault of Donald Trump in the last week,” he said. “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 10 years to cause all these problems.”
Nothing so dire as yet, but stocks have been getting beaten up a bit lately, especially the Nasdaq, which has dropped four straight weeks. The Dow and the S&P are in the midst of two-week losing streaks.
As for Trump, here he is relishing the job:
Jim Acosta ✔ @Acosta
Quite the photo from Camp David tonight
10:10 PM - Aug 18, 2017
http://www.marketwatch.com/story/ron-paul-sees-stocks-chopped-in-half-within-a-year-but-he-wont-blame-trump-2017-08-21
Gold is $1,581/oz today. When it hits $2,000, it will be up 26.5%. Let's see how long that takes. - De 3/11/2013 - ANSWER: 7 Years, 5 Months
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