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"The fundamental risks to the global economy remain. In fact, from a medium-term perspective, they are actually getting worse!"
Historically speaking, irrational stock market enthusiasm has been a time to reduce risk, not take substantially more of it.
"The entire market is in a bubble. In fact, the bond market is in a bubble, the dollar is in a bubble. There are bubbles everywhere!"
Beijing has been going on a gold buying spree, with its official gold reserves holding at record levels of 1,957.5 tons in October.
"Be fearful when others are greedy, be greedy when others are fearful."
Market Watch: Investors putting money back into stock-market funds, but flows still solidly negative for 2019
For every $100 that has flowed out of U.S. stock funds in 2019, $15 has come back!
Around 60% of that jump came from the United States and China.
The federal budget deficit hit $984 billion in fiscal 2019, the highest in seven years, and it's expected to top $1 trillion in fiscal 2020!
"When you push liquidity through the system like they [the Fed] have the last ten years, you create a giant bubble."
It's as bad a time for the global economy as any since the end of the last recession!