Sage Advice
News
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Posted 05/09/2014
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3663
This week CNBC interviewed billionaire Equity Group Investments Chairman Sam Zell. When people like this talk you listen. Here’s a bit of what he had to say:
"The stock market is at an all-time high, but economic activity is not at an all-time high, every company that's missed has missed on the revenue side, which is a reflection that there's a demand issue; and when you’ve got a demand issue it's hard to imagine the stock market at an all-time high."
"I don't remember any time in my career where there have been as many wildcards floating out there that have the potential to be very significant and alter people's thinking."
In today’s radio we report on the Fed overnight announcing that only the top 10% wealthiest have seen an increase in their median income since 2010. Topically (and before this was released) Zell said:
"Part of the impact of these very, very low interest rates is that we're creating this disparity. The wealthy are benefiting from government policy and the nonwealthy aren't. So we have a president who says we've got to fight this disparity and we have a Fed who's encouraging it everyday."
Zell is just one of a number of billionaire investors calling an imminent crash. Gold and silver in your portfolio help protect you when, not if, this happens.