China, Hong Kong, Government Power, and the Markets
Harry Dent | October 25, 2019 | Yesterday morning, I hopped on the line with Dent Senior Research Analyst Dave Okenquist to catch up on all the goings on around the world at present moment. First on our agenda was China, who's shown itself to be quite fragile lately, with big decisions being made in the wrong ways for the wrong reasons. The country needs a revolution, frankly, with a people-controlled government. A democracy. That's the only way for the Chinese people to reach the sort of economic heights the country's capable of. If not, then it's going to be trouble for the entire country. The Chinese government has expanded well beyond their means, and when a downturn comes, they're going to reap what they have sowed. Trust me on that. We've already seen examples of this sort of top-down overbuilding in Asian countries, but at this point, it's gone too far. The country's far too urban to be running a government the way they are. The very pernicious Hong Kong riots are a great step in the right direction! But we also had to talk about the markets for a bit. And frankly, I'm getting a bit annoyed with how sideways things have been. When are we going to see a breakout? In either direction! This has been happening since January of 2018, mind you, thanks to government stimulus and the propping up of the Fed. But with each correction we're seeing a deeper dive, with is troubling and doesn't bode well for the future. But it's hard to tell exactly what "the future" means right now. We've been in purgatory for quite some time. I still lean towards the downside resolution near term.  VISIT ECONOMY & MARKETS » Trending Stories... Many Democrats really want to impeach President Trump. According to a Pew Research poll conducted after the latest round of Democratic debates, 40% of Democratic respondents said that beating Donald Trump was the number one issue in the upcoming election. It's not domestic policies, not foreign policy, not protecting any class of people, but simply... There's one thing that is always true: Most people are not good investors. They buy the most near a long-term top and they sell the most near the bottoms that follow. We have lived in a rare period since World War II wherein housing was first boosted by the first middle class generation (The Bob... My family moved a lot when I was a kid. In our travels, we spent a couple of years near where I live now, on the Texas coast south of Houston. Back then, we lived on the beach where cable was something you could only dream of. We spent this part of our youth flipping... The only Phd economist I allow to speak each year at the Irrational Economic Summit is Dr. Lacy Hunt. (You can watch his presentation from this year's conference here.) Lacy can take that complex science and still see the forest for the trees. He can still find reality from all of that great theory to... The week's gone by and markets are still doing just what I predicted: bounding forward sideways until something breaks up or down. My Money Is on down Partially because of Bitcoin and partly because of politics. What's happening in Washington cannot be good for your money right now – between the Trump administration's dealings with... | 
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