Stock market is 50% to 80% overvalued; experts warn historical crash now imminent
by: J. D. Heyes
NaturalNews.com
Thursday, September 17, 2015
Despite the recent rebound in stock values following a major plunge caused by China’s currency devaluation and resultant market losses, a number of notable economists and distinguished investors say the worst is yet to come – and it could be catastrophic.
As reported by the The Sovereign Investor web site, billionaire Carl Icahn is among those who have recently tossed red flags into the air. Icahn recently declared in a national interview, “The public is walking into a trap again as they did in 2007.”
As dire as that prediction sounds, it is much tamer than those of some of his peers.
“U.S. stocks are now about 80 percent overvalued,” Andrew Smithers, the chairman of Smithers & Co, said.
He went on to substantiate his prediction by using a ratio that proves the only time in history stocks were as risky as they are today was in 1929 and 1999; in those years, stocks fell by 89 percent and 50 percent respectively.
Bottoming out
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