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May 14, 2019 | Las Vegas Money Show – My Observations!

Donald B. Swenson: Born January 24, 1943, Roseau, Minnesota. Graduated H.S. 1961, Moorhead High, Minnesota. Graduated College 1968, Moorhead State University, Minnesota. Designated member of Appraisal Institute (MAI), 1974. Employed with Western Life Insurance Company, 1968 – 71; Iowa Securities Company, 1971 – 73; American Appraisal Company, 1974 – 81. Part-time teacher/valuation consultant/bartender, 1979 – 2008 (taught workshops at Waukesha County Technical Institute, Wi. and Madison Area Technical College, Wi.). Retired 2008 (part time teacher/blogger), AZ. Self educated economist/philosopher/theologian:

Today, I am attending the Money Show in Las Vegas, Nevada. Some 5,500 attendees are in attendance. The experts are all over the place with their opinions and predictions. A few opinions are as follows:

  1. Peter Schiff:  a recession is arriving but the Fed will use low interest rates and QE4 to keep the borrowing going. What is emerging is a dollar collapse as all this pump priming occurs down the road. A 50% stock market crash is assured.
  2. Steven Moore:  a boom stock market can continue for another 6-7 years. The key to this result is good government policy. There is no need for a crash in our markets and if economic policy is right then we will have a boom stock market for many years. He thinks Trump will appoint new members to the Fed Board which will promote good and favorable policies to keep the prosperity coming.
  3. Steve Forbes:  the stock markets will continue to boom as events play out over time. We need a stable dollar and if this happens then our markets can continue to boom for many more years. Capitalism is key to our continued prosperity.
  4. Wayne Allyn Root:  I predicted the Trump boom back in 2016. I now predict another boom and more prosperity as Trump gets re-elected and promotes his policies of growth. Dow will double in three years and S&P 500 will also double to 56,000. Buy XLE, EEM, and QQQ for growth over the next boom period.
  5. Craig Johnson:  Bull market will pause and consolidate for the remainder of 2019. We are stuck in a trading range of 2500 to 2900 for the S & P 500. I am nervous about some aspects of the market for the short-term. But long-term I am a Bull.


My view and perspective:  I have noticed the many diverging views on where our country is going. Most of the speakers want to present positive predictions and the audience also want positive presentations. Those who present serious problems as our situation tend to lose the attention of the attendees. Many walk out during a presentation which is negative.


My sense is that investors could care less about the problems if they can make money from these problems. The situation over in Iran is not talked about. The idea of a War over in the Middle East is not viewed as realistic. The problems of continuing tariffs with China are not viewed as long-term problems. The continuing debt and deficits are not real problems as our Fed can continue to solve these problems with more QE and low interest rate policies.


The positive messages of Steve Forbes, Steven Moore, Keith Fitz-Gerald, Mark Skousen, Wayne Allyn Root, and the moderator, Kim Githler, give the impression that our boom economy will continue to grow and prosper. The one contrarian who is not liked much is Peter Schiff. His message is mostly viewed as realistic but not a message that is relevant for the current markets.


As I write the Dow Index has reversed and is up over 350 points (today). The 617 point drop yesterday is now viewed as an over reaction to the Trump/China tariff situation. The boom markets are back and record stock markets should emerge by the end of 2019. Personally, I am doubtful but I will watch with interest to see if all these positive predictions happen. It would be amazing if our 10 year bull could continue for another 7 years. Think for yourself on all this. Have a good day!


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May 14th, 2019

Posted In: Kingdom Economics

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