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Pastor Kevin Swanson makes two good points.
1. American stocks are overvalued.
2. There will be a big correction in 2024.
"Are American stocks overvalued?
The NASDAQ stock index has hit an all-time high, closing Friday at 16,826. That’s up from 1,204 in 2009, a 14-fold increase.
The Dow Jones Industrial Average closed for the year 2023 at 37,690, up from 7,060 in 2009. That’s a 5-fold increase. Meanwhile, almost every other stock market in the world hasn’t come close to these valuations.
WolfStreet.com reports that the Chinese Shanghai composite is still where it was in 2009. Japan’s Nikkei is leveled off where the index stood in 1989. The UK FTSE Index is up about 50% since 2009. Spain’s IBEX index is still where it was sitting in 2009. Canada’s Index is up about 40% from 2008.
Economist predicts 2024 “biggest single crash year in our lifetimes”
Is the American industry really doing 20 to 100 times better than England, China, and Japan?
U.S. economist Harry Dent told Fox Business: “Since 2009, this has been a 100% artificial [economy], with unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. … We’re in a dangerous state. 2024 is going to be the biggest single crash year we’ll see in our lifetimes.”
The economist forecasts an 86% crash in the S&P, a 92% crash in the NASDAQ, 96% for crypto, and significant deflation on housing prices.
But Jesus said, “Take heed and beware of covetousness, for one’s life does not consist in the abundance of the things he possesses.” (Luke 12:15) Our Savior also said, “Lay up for yourselves treasures in Heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also.” (Matthew 6:19-21)"
“I write books to educate myself"
Paul Johnson (1928–2023), the British historian and author, wrote more than 50 books over his lifetime.
https://storage.courtlistener.com/recap/gov.uscourts.dcd.297297/gov.uscourts.dcd.297297.1.0.pdf
Mishandling national defense information. Very serious.
There are three ways the outlook could play out.
1. The polls and analysts are largely accurate.
a. House: 233 D - 202 R; Senate: 52 D - 48 R
b. Recent polling errors have been greater in the presidential elections while midterms - on the whole - have been more accurate (Silver Bulletin). If largely accurate, Democrats would win a majority of similar size to the 2018 and 2006 midterms and gain a narrow Senate majority.
2. The polls and analysts underestimate Republicans by a normal polling error.
a. House: 221 D - 214 R; Senate: 51 R - 49 D
b. Some of the biggest polling errors this century occurred in reliably red states and districts that underestimate Republican support (The Economist). Given where the competitive races are located this year, another underestimation would be enough to keep Republicans in control of the Senate and to have Democratic House margins in the single digits.
3. The polls and analysts underestimate Democrats by a normal polling error.
a. House: 238 D - 197 R;...
