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Billionaires Dumping Stocks, Economist Knows Why - 90% drop predicted!!
Posted By: Susoni [Send E-Mail]
Date: Monday, 24-Sep-2012 21:49:10
http://www.moneynews.com/Outbrain/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=FE8A-1
Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.
Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.
In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.
With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.
Unfortunately Buffett isn’t alone.
Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.
Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.
So why are these billionaires dumping their shares of U.S. companies?
After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.
It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%.
One such person publishing this research is Robert Wiedemer, an esteemed economist and author of the New York Times best-selling book Aftershock.
Editor’s Note: Wiedemer Gives Proof for His Dire Predictions in This Shocking Interview.
Before you dismiss the possibility of a 90% drop in the stock market as unrealistic, consider Wiedemer’s credentials.
Read more: Billionaires Dumping Stocks, Economist Knows Why
more on link:
http://www.moneynews.com/Outbrain/billionaires-dump-economist-stock/2012/08/29/id/450265?PROMO_CODE=FE8A-1
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2 comments:
Well to me, there's no way that the unemployment rate has stabilized. Like Steve Bridges the Obama Impersonator said when Impersonating Obama "Unemployment figures continue to hover around 10%...that figure does not include people who have given up searching for work. We can really bring those numbers down if more people would just quit looking." Apparently if Proctor and Gamble, Johnson and Johnson, and Kraft Foods aren't making any money, then it means that the people don't have any money to spend on their products, because these are all household items that people use every day. The correction that needs to be made, is to get the greedy, stupid thieves out OUR government and put the American people back to work making American made products which we will gladly buy, because made in the U.S.A. has always been better quality products that last longer and wear better, etc. There are other countries that make some excellent quality products (I'm sure there are many that I'm not familiar with) also, such as Germany, Italy, and France, Japan (electronics) etc. For your entertainment and as a commemorative, here are 2 links to some very funny videos of Steve Bridges As Barack Obama...... (P.S. We Miss Steve Bridges!)
http://www.youtube.com/watch?v=WH_a0cGVRmI&feature=player_detailpage
http://www.youtube.com/watch?v=rot1yguplr8&feature=player_detailpage
I looked through the whole article above and on link, and I never saw Romney's name mentioned. I didn't watch the video though, so if it said something about Romney, I didn't hear it. You are on an obvious anti-Romney campaign. I know Romney is no count and he is one of the NWO puppets. He's already been bought and paid for. That's probably why he doesn't want anyone to know how much money he has, or about taxes, etc.
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