With continued uncertainty in global markets, the Godfather of newsletter writers, 91-year-old Richard Russell, just warned people to be prepared for some shockingly negative news.
Richard Russell Warning
October 9 (King World News) – Richard Russell – “The Russell scenario: economic statistics come out and they are shockingly deflationary. The Fed and central banks around the world are shocked by the deflationary statistics. As a result, the world of central banks opened their spigots in a desperate attempt to hold back deflation and produce 2% of core inflation…Massive make work programs as per the 1930’s are put in place. With central banks around the world spewing forth currencies, there is a good chance that hyperinflation will make its entrance.
The stock market and the precious metals are already discounting my scenario. The market is having a follow through day after yesterday’s strong action. Industrials and Transports are up triple digits. With industrials above 17,000 again. Transports back above 8,000. The NYSE is up 102 and back above 10,000 again.
Be Prepared For Some Shockingly Negative News
Be prepared for some shockingly negative economic figures ahead. The Fed raising short rates is a fantasy that will not happen. A more likely occurrence will be the return of quantitative easing. My best to all my beloved subscribers. We’re seeing history being made.” I would urge all KWN readers around the world to subscribe to Richard Russell’s 91 years of wisdom and remarkable writings at Dow Theory Letters by CLICKING HERE TO SUBSCRIBE.
***ALSO JUST RELEASED: Is This The Most Shocking Chart In The History Of The Gold Market? CLICK HERE.
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