Markets News 

Contrarian who called the 2008 housing crash expects a global recession this year

“The International Monetary Fund has cut its estimates for global growth in 2019, citing concerns about weakness in Europe” writes Howard Gold for marketwatch.com. Read: These 3 leading economic indicators show no recession is coming One well-known independent economist thinks it will happen even sooner—he’s looking for a global recession to start in 2019.He also predicted a 2012 global recession that never happened.But there’s plenty of overvaluation in many financial markets, thanks, he says, to the Fed’s largesse after the Great Recession. Source: marketwatch.com

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A bunch of stocks in Hong Kong crashed 70% without warning — and no one really knows why

“Another analyst, Kenny Tang Sing-hing, chief executive of China Hong Kong Capital Asset Management, said that the crash may have been down to worries about “the liquidity situation among mainland Chinese property stocks.”” writes Will Martin for businessinsider.com. The total value wiped off Hong Kong’s market was around $HKD37 billion ($4.7 billion).The stock price of several Hong Kong-listed companies plunged during trading Thursday, leaving investors and analysts baffled as to what caused the sudden plunge.Analysts so far have been at a loss to explain the sudden crash, which started between…

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Markets News Stocks 

A fund manager at $1.7 trillion Amundi Pioneer reveals how he’s preparing in case stocks crash again — and outlines the risks that could plunge the market into chaos

“If any specific part of the stock market is at a critical precipice, it’s mega-cap tech” writes Joe Ciolli for businessinsider.com. That means focusing on dividend-paying companies with good balance sheets— the types of stocks that normally thrive in an unstable, late-cycle environment.To him, that’s the best way to combat the type of runaway market that can lead to deep losses. Source: businessinsider.com

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Worst Yet to Come for Housing Market, Says Advisor Who Called 2008 Crash

“He predicted the housing crash in 2005, just before prices reached their peak” reports etfdailynews.com. Almost a year later, the signs of coming distress in property markets — and the broader economy — are only increasing, said Stack.From Prashant Gopal : James Stack, who predicted the 2008 real estate crash and nailed last year’s housing slowdown with uncanny timing, is back with some bad news for 2019. “Housing could be heading for its worst year since the last housing crash,” Stack, 67, said in a phone interview. “Expect home sales to…

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Markets News Stocks 

‘The age of technology is over’: One market expert explains why tech stocks are doomed to keep crashing

“If the tech sector no longer exists, its premium is no longer justified.”” writes Joe Ciolli for businessinsider.com. “If technology is everywhere, the tech sector no longer exists,” Deluard said.Deluard expects this ongoing repricing to continue in earnest throughout 2019, which would mean more deep selling across the tech sector.Deluard attributes tech’s loss of luster to the incorporation of technology into long-standing, “old economy” businesses. Source: businessinsider.com

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Pessimists are predicting a global crash in 2020. You can see why

“Nouriel Roubini, who can claim to be one of the few economists to forecast the last crash, also nominates 2020” writes Phillip Inman for theguardian.com. How long, they ask, can the expansion seen since the last crash go on before another recession hits?. London-based forecasters Fathom Consulting have pencilled in a global bust for 2020.This gave the global economy a boost it desperately needed, albeit at the expense of oil- and commodity-exporting nations – and the environment. Source: theguardian.com

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They are among the seven people killed in a fiery crash involving two tractor-trailers traveling in opposite directions.

“Jan 4 (Reuters) – Five Louisiana children traveling to Disney World in a church van were among the seven people who died in a fiery crash involving two tractor trailers traveling in opposite directions in Florida, law enforcement and church officials said on Friday” reports huffingtonpost.com. Some of the van’s occupants, including children, were ejected from the vehicle onto the roadway and may have been struck by a fifth vehicle immediately after the crash, Riordan said. Source: huffingtonpost.com

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7 killed, others hurt in fiery crash with diesel fuel spill on I-75 near Gainesville

“FHP told the paper that five of the crash victims who died were in the passenger van” writes Kelli Kennedy for sun-sentinel.com. Two big rigs, a passenger van and a mid-sized car collided and spilled diesel fuel across a Florida highway Thursday, sparking a massive fire that killed seven people, authorities said.Emergency crews extinguished the fire and said they were treating the crash as a homicide investigation, but didn’t say why. Source: sun-sentinel.com

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