Experts Warn of 60% Stock Market Correction

[Chef Ramsay]

Markets could soon face a fall of up to 60 percent, two experts told CNBC on Wednesday.

A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC's "Power Lunch." When this happens, he said, markets will face a "period of extreme turmoil."

This crash will be precipitated, he said, by a disillusionment with the Federal Reserve's "confidence game," which will then see inflation rise, and the Fed scramble to raise rates. At that point, Tice added, "the Fed starts to lose control."

Another market watcher also called for an impending fall.

The Fed's low interest rates could bring a "scary" 50-60 percent market correction, said technical analyst Abigail Doolittle.

http://www.cnbc.com/id/101950613

Although I don't monitor CNBC, I'd have to believe that they don't allow this kind of realism on there very often.

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[bigasic]

I wonder what will happen to bitcoin if stocks did drop by 60 percent. Now gold and silver will definitely go up. while I think there will be somewhat of a correction, I dont see it dropping by 60 percent. How much did it drop in the recession of 2008? that would give us some sort of indicator on where it would fall..

[scryptasicminer]

I wonder what will happen to bitcoin if stocks did drop by 60 percent. Now gold and silver will definitely go up. while I think there will be somewhat of a correction, I dont see it dropping by 60 percent. How much did it drop in the recession of 2008? that would give us some sort of indicator on where it would fall..

A big collapse in stock market will drag everything down with it. Including gold, silver, real estate, bitcon and etc, since the single point of system failure is at the fed.

[skeet]

There's a saying that goes something like "look at who's giving the message" David Tice is president of an investment company that is "net-short" on the US market.

I'm not an investment guru, but my understanding is that his company will do much better in a bear market than a bull market. It seems like it would be a bit of a conflict of interest in presenting his views as a news story item without proper notification that he has a significant stake in public opinion in these matters.