Alan Greenspan: Investors should prepare for the worst (irrational exuberance redux)

CNN Business/Donna Borak/12-18-2018

“Alan Greenspan says the party’s over on Wall Street. The former Federal Reserve chairman who famously warned more than two decades ago about ‘irrational exuberance’ in the stock market doesn’t see equity prices going any higher than they are now. ‘It would be very surprising to see it sort of stabilize here, and then take off,’ Greenspan said in an interview with CNN anchor Julia Chatterley. He added that markets could still go up further — but warned investors that the correction would be painful: ‘At the end of that run, run for cover.'”

USAGOLD note: Greenspan over the years has consistently advocated gold ownership as a means to hedging the next financial crisis.

Repost from 12-18-2018

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