(Tom: Those who do not know history are doomed to repeat it. The economy routinely cycles through periods of boom and bust. If you know where you are in the cycle you are less likely to make decisions that turn out badly.)
Former Wall Street money manager and financial analyst Ed Dowd of PhinanceTechnologies.com warned in September we were at the “Beginning of Panic Rate Cut Cycle.” Since that prediction, the Fed has cut interest rates three times. Looks like Dowd called it correctly.
What is working are precious metals, especially gold. Dowd does not see gold losing its shine anytime soon. Dowd says,
“If we get any kind of credit crisis, gold may get sold temporarily where people sell what they can, but not what they want. Long term, gold looks like it’s going to $10,000 an ounce on the charts by 2030. Everything is conspiring fundamentally and technically to lead us that way. They made gold a Tier 1 asset.
That makes gold money again in the banking system. . .. I would not get scared out of my physical gold position anytime soon.”
https://www.zerohedge.com/markets/were-beginning-credit-destruction-cycle-ed-dowd-warns