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« Man Who Advises Top Sovereign Wealth Funds In The World Issues Major Warning And Says Fortunes Will Be Made In Silver | Main | Greyerz Issues Warning About War, Market Turmoil, Shocks And Exchange Controls »
Monday
Aug212017

Ron Paul Warns "50% Stock Market Plunge Conceivable... And It Won't Be Trump's Fault"

The former Republican Congressman from Texas believes escalating dysfunction in Washington will create even more pain for Wall Street.

Ron Paul's sell-off prediction just got more severe.

The former Republican Congressman from Texas believes escalating dysfunction in Washington will create even more pain for Wall Street.

"A 50 percent pullback is conceivable," Paul said on "Futures Now" recently. "I don't believe it's ten years off. I don't even believe it's a year off. "

According to his calculations, it would cut the S&P 500 Index in half, to 1212, and the blue-chip Dow Jones Industrial Average would collapse to 10,837.

Paul noted that there's a lot of chaos in Washington right now, with an "unpredictable president" and those who are inclined to "tear him apart" but if the market takes that big of a tumble, he doesn't see it as Trump's fault.

"It's all man-made. It's not the fault of Donald Trump in the last week. If the market crashes tomorrow and we have a great depression, he didn't do it in six months. It took more like six or ten years to cause all these problems that we're facing," he said.

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