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Old 05-31-2010, 11:50 AM
 
Location: US Empire, Pac NW
5,008 posts, read 11,546,704 times
Reputation: 4125

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I would expect such nonsense from doomsday cult websites and conspiracy theorists' blogs. NOT Marketwatch, but there it is:

Crash is dead ahead. Sell. Get liquid. Now Paul B. Farrell - MarketWatch

Why do they let a PSYCHOLOGIST talk about the economy like this? He makes some very good points:

1) The level of the national debt will increase to about 90% of GDP very shortly. That sort of spending is unsustainable and we should reign in our expenses.

2) The amount of QE reduction by the Fed will likely cause a selloff of the market due to the loss of liquidity. Those who stay in better have diversification built in.

3) Irrational exuberance abounds during bubbles and we're in danger of entering another euphoria phase.

But this guy's advice is ALL OVER THE PLACE. Earlier this year he wrote that the best way to ride out the "imminent collapse of the economy" is to buy a place in the farmlands, plant your own food, learn your neighbors and hang out with them ... basically move to a farming community, and buy lots of ammo and guns, and have gold on hand.

THEN he goes and tells us to invest in his so-called "lazy portfolios" ... what's up with that?

So, assuming he has a game to play and he wants us to play along so he can (somehow) make out ahead ... what good does this whipsaw advice buy him? Just more lunacy out there ...

But I'm just curious, does anyone really take his advice seriously? Or would the best advice to be to put a filter on his hyperbole and look at the underlying message? I highly doubt that anyone of these columnists are "looking out for the little guy" ...
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Old 05-31-2010, 12:21 PM
 
14,256 posts, read 16,610,190 times
Reputation: 13776
I never listen to any of these clowns
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Old 05-31-2010, 12:35 PM
 
91,742 posts, read 89,075,610 times
Reputation: 66312
even a broken watch is right 2x a day
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Old 05-31-2010, 01:03 PM
 
Location: Warwick, RI
4,023 posts, read 4,789,312 times
Reputation: 6314
Marketwatch?? You'd be better off getting your financial advice from Mad Magazine then those buffoons. Their articles are usually nothing more than the modern financial version of 19th century snake oil and miracle elixers. Don't waste any more of your time reading that crap.
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Old 05-31-2010, 01:14 PM
 
Location: AZ
2,066 posts, read 3,522,225 times
Reputation: 3603
Marketwatch...lol

Almost as bad as Jim Cramer!
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Old 05-31-2010, 01:29 PM
 
8,265 posts, read 11,431,788 times
Reputation: 4790
He's a serial-doomsdayer (tm) who will keep predicting end of days as long as it puts money in his pocket.
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Old 05-31-2010, 02:33 PM
 
Location: Wherever women are
19,011 posts, read 27,588,786 times
Reputation: 11309
Quote:
Originally Posted by eskercurve View Post
I would expect such nonsense from doomsday cult websites and conspiracy theorists' blogs. NOT Marketwatch, but there it is:

Crash is dead ahead. Sell. Get liquid. Now Paul B. Farrell - MarketWatch

Why do they let a PSYCHOLOGIST talk about the economy like this? He makes some very good points:

1) The level of the national debt will increase to about 90% of GDP very shortly. That sort of spending is unsustainable and we should reign in our expenses.

2) The amount of QE reduction by the Fed will likely cause a selloff of the market due to the loss of liquidity. Those who stay in better have diversification built in.

3) Irrational exuberance abounds during bubbles and we're in danger of entering another euphoria phase.

But this guy's advice is ALL OVER THE PLACE. Earlier this year he wrote that the best way to ride out the "imminent collapse of the economy" is to buy a place in the farmlands, plant your own food, learn your neighbors and hang out with them ... basically move to a farming community, and buy lots of ammo and guns, and have gold on hand.

THEN he goes and tells us to invest in his so-called "lazy portfolios" ... what's up with that?

So, assuming he has a game to play and he wants us to play along so he can (somehow) make out ahead ... what good does this whipsaw advice buy him? Just more lunacy out there ...

But I'm just curious, does anyone really take his advice seriously? Or would the best advice to be to put a filter on his hyperbole and look at the underlying message? I highly doubt that anyone of these columnists are "looking out for the little guy" ...
There's only one reason I use market watch for. To check on the current indices and values. Otherwise, they are loons.

Also, market watch is one of those rare sites they haven't blocked in my stupid work building, as part of their so-called cracking down on browsing to make employees work

Besides, opinion columns in business is just baseless. It belongs in politics only.
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Old 06-01-2010, 08:05 PM
 
Location: SC
9,101 posts, read 15,394,989 times
Reputation: 3597
Generally the article is right. Small time investors are notoriously stupid. They get into a rising market when it is too late and they try to short a stock after it is hit bottom. They (as well as their brokers) don't spend the time watching their positions and making changes as the market would dictate that they should.
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Old 06-01-2010, 08:14 PM
 
12,226 posts, read 12,234,868 times
Reputation: 10252
Quote:
Originally Posted by Gixxer1K View Post
Marketwatch...lol

Almost as bad as Jim Cramer!
Wait... Jim Cramer's bad??!!?? D*** it, now you tell me.
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Old 06-01-2010, 08:20 PM
 
12,226 posts, read 12,234,868 times
Reputation: 10252
The consensus seems to be that this guy is a nutter, but you all must have missed his great column about how to cash in on the crash of the Earth, which is peppered with Avatar references and other sci fi insights. I think I found a new guru.
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