Dow Jones and NASDAQ to Quite Possibly Double by 2021
For entirely logical fundamental and technical reasons, it is quite possible that the Dow Jones and the NASDAQ indexes will double within the next three to four years, by 2020/2021, to 46,000 and 12,000 respectively.
As credentials, read my two Wall Street Journal articles, “No Addiction to Foreign Capital” (May 3, 1985) and “Fed Tightness Boosts Borrowing” (February 21, 1986) which both went against the conventional economic wisdom and have been proven correct. They remain very relevant. Also, an Arthur Young audit of my 1982–1988 stock market performance shows that apart from greatly outperforming the averages, I perfectly timed the onset of the 1982 bull market, and the entire 30% stock market crash of October 1987. The audit was commissioned by a financier who wanted me to be George Bush Sr.’s economic advisor. I was interviewed for the position by Commerce Secretary Robert Mosbacher in February 1989, and dismissed for having criticized Paul Volcker and Alan Greenspan’s monetary policies as being excessively restrictive, counterproductive, and based on flawed economic theory, and for having insisted that if President Bush did not forcefully and successfully argue against such policies, the economy would be weak during his first term and preclude his being reelected.
July 26, 2017