Stock markets continue to surge higher on a seemingly endless upward trajectory. On Tuesday, the Dow Jones crossed the 23,000 mark for a time and closed just below that threshold at 22,997.
It almost seems like this can go on forever, but Ron Paul said it would eventually come to an end during an interview on CNBC Futures Now last week. He said it reminds him of ‘delusions and the madness of crowds.’
Of course, as Paul pointed out, even though we don’t know exactly when it will eventually crash, the market can’t go up forever. And Paul offered a sobering warning.
‘My position is the longer it lasts, the bigger the bust.’
So what’s really behind the meteoric rise in stocks? Paul echoed what Peter Schiff and other contrarians have said – it’s a big bubble pumped up by central bank intervention.
This post was published at Schiffgold on OCTOBER 18, 2017.