# Are we at the beginning of a 2008-like stock market crash? **URL:** \ **Category:** In My Humble Opinion\ **Created:** [February 13, 2016, 12:04pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014 "2016-02-13T12:04:11Z")\ **Posts on this page:** 8\ **Page:** 4
**Author:** ![truthSeeker2](https://avatars.discourse-cdn.com/v4/letter/t/7cd45c/32.png) [@truthSeeker2](https://boards.straightdope.com/u/truthSeeker2)\ **Post date:** [February 25, 2016, 1:56pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/61 "2016-02-25T13:56:19Z")
> [@Dewey\_Finn](#): > > Thank you for providing that information. Please explain what it means and what it has to do with the possibility of a 2008-like stock market crash. Pls listen to below from 15:30 - [![](https://img.youtube.com/vi/cFZ6z5aX97c/maxresdefault.jpg "Ep. 146: Recession Hiding in Plain Sight") ](https://www.youtube.com/watch?v=cFZ6z5aX97c) ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [February 25, 2016, 1:59pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/62 "2016-02-25T13:59:53Z")
I’m not going to listen to or watch a YouTube video. Please explain in written words whatever point you’re attempting to make. ---
**Author:** ![truthSeeker2](https://avatars.discourse-cdn.com/v4/letter/t/7cd45c/32.png) [@truthSeeker2](https://boards.straightdope.com/u/truthSeeker2)\ **Post date:** [February 25, 2016, 2:34pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/63 "2016-02-25T14:34:10Z")
> [@Dewey\_Finn](#): > > I’m not going to listen to or watch a YouTube video. Please explain in written words whatever point you’re attempting to make. From 6:00 to 7:00 , Peter Schiff says the last time this index was below 50, with the exception of Oct-2013 when Govt. services were shutdown, the economy was in recession. Note that this is services PMI, not manufacturing PMI. ---
**Author:** ![Dewey\_Finn](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/dewey_finn/32/4222_2.png) [@Dewey\_Finn](https://boards.straightdope.com/u/Dewey_Finn)\ **Post date:** [February 25, 2016, 2:42pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/64 "2016-02-25T14:42:55Z")
I don’t think Peter Schiff is a reliable source of economic or financial analysis, any more than his father was a reliable source of information on the US tax code. ---
**Author:** ![septimus](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/septimus/32/410_2.png) [@septimus](https://boards.straightdope.com/u/septimus)\ **Post date:** [February 25, 2016, 4:37pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/65 "2016-02-25T16:37:08Z")
To what extent is the economy in the near future subject to factors that are \*not \*reflected in the obvious statistics? Factors like terrorism, war, political uncertainty, or perhaps some cartel arrangement among Russia-Iran-Saudi to raise the price of oil. Does the hope for rising stock prices and continued high employment depend on stable politics? Cheap oil? ---
**Author:** ![Deeg](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/deeg/32/2955_2.png) [@Deeg](https://boards.straightdope.com/u/Deeg)\ **Post date:** [February 25, 2016, 7:51pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/66 "2016-02-25T19:51:05Z")
> [@Dewey\_Finn](#): > > I don’t think Peter Schiff is a reliable source of economic or financial analysis, any more than his father was a reliable source of information on the US tax code. According to the Wiki article on Schiff he predicted hyperinflation and that gold would be $5k/oz by 2015. Oops. That’s the thing I’ve learned about these guys: they will endlessly predict doom and gloom because nobody is paying attention to their market/economy “fixes”. At the beginning of the Great Recession every gold bug I knew predicted hyperinflation because of government actions like QE. They just can’t deal with being wrong. ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [February 25, 2016, 8:19pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/67 "2016-02-25T20:19:03Z")
> [@truthSeeker2](#): > > Sorry about not mentioning the tech advancements properly. It would include computers, internet, data encryption, biometrics. When the world has all this technology, it is hard to imagine that they will go back something physical (gold, silver etc). > > If they want to put an end to arbitrary printing of money and to ever-increasing unpayable debt, they need not go back to gold in this era of technology. > > But till the change of order actually happens, gold will continue to rise because people will see through the illusion of growth when growth is infact non-existent. I am not saying if it(rise in gold price) is justified or not but it will happen nonetheless. What, your predict we are all going to move to bitCoins? For a stable money supply? And by gold rising I assume you mean dropping 40%. Those who believed the right wingers and their gold hawking from a few years back, out of fear of hyperinflation and Obama-induced chaos lost their shirts. A fool and his money … There have been concerns about our massive trade deficit as long as I can remember, and I’m old. So far, no big problem. That’s the very definition of sustainable. ---
**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\ **Post date:** [February 25, 2016, 8:28pm UTC](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014/68 "2016-02-25T20:28:52Z")
> [@truthSeeker2](#): > > @voyager > > 1. oil prices did stay between $110-120 for 5 yrs after dropping to $35 in 2009. This was only due to money supply(QEs). FED posturing of stopping QE and doing rate hike brought it down. What brought oil prices down was a supply glut thanks to US oil coming on line and political decisions by Saudi Arabia to not cut production, due to various motives. > [@](#): > > 1. Less fiscal deficit(2.1% iirc) is a good decision, but ultimately that will good also be a slight drag on corporate earnings. Perhaps so due to reduced stimulus as I mentioned. However much of the reduction in the deficit is due to increased revenue through an improved economy. The unemployed don’t pay as much in income tax. That’s also the cause of the California surplus. > [@](#): > > 1. Dollar went up because people thought it had a value. People will realise USA’s trade deficit is MASSIVE and they just keep printing money and people will dump the dollar. Like China, Russia are doing Already covered for China. Russia is selling reserves because they are suffering due to the reduced price of oil which the government depended on. Putin has a serious problem and government spending is being cut back drastically. Nothing at all to do with our trade deficit. In fact, our economy is hurt by the strength of the dollar. I don’t think the Republicans are even complaining about how Obama has made the dollar weak anymore. We could use a slightly weaker dollar. > [@](#): > > 1. The above coupled with Russia, China Iran Syria alliance could mean the end of petrodollar. Trump’s( i dont dislike him) Muslim comments could alienate Saudis too if he becomes President. What currency would replace the dollar? There are not even any candidates. > [@](#): > > 1. The above coupled with the fact that US stock valuations are quite rich gives a feeling there’s going to be amassive crash. Technical structure is looking tht way as well. > > I wish well for everyone which is why I will urge everyone to take out their money. The current reduction in stock prices comes from a long overdue correction, and from a major reduction in profitability of the energy sector. But that isn’t a crash. [Previous page](https://boards.straightdope.com/t/are-we-at-the-beginning-of-a-2008-like-stock-market-crash/746014.md?page=3)