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reducing exposure 80g 10c 10s cob 3/19 didn't know facebook was such a major producer of goods needed by the country.
 
Roger Babson’s first rule of investing was “keep speculation and investments separate.” He is remembered not only for founding Babson College in Massachusetts, but also for his speech at the National Business Conference, warning of an impending crash just two days after the 1929 peak, at the very beginning of a decline that would wipe out 89% of the value of the Dow Jones Industrial Average.

As I’ve observed before, the back-story is that Babson’s presentation began as follows: “I’m about to repeat what I said at this time last year, and the year before…” The fact is that Babson had been “proven wrong” by an advance that had taken stocks relentlessly higher, doubling during those two preceding years. Over the next 10 weeks, all of those market gains would be erased. If Babson was “too early,” it certainly didn’t matter. From the low of the 1929 plunge, the stock market would then lose an additional 79% of its value by its eventual bottom in 1932 because of add-on policy errors that resulted in the Great Depression.

To slightly paraphrase Ben Hunt, how does something go down 90%? First it goes down 50%, then it goes down 80% more.
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More: https://www.hussmanfunds.com/comment/mc180406/
 
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https://www.thesun.co.uk/news/6053983/bill-gates-warns-financial-crash-2008-great-recession/[h=1]Bill Gates warns of another financial crash as bad as the 2008 Great Recession[/h]Gates' friend and fellow billionaire Warren Buffett predicted for Time magazine in January that, in general, “most American children are going to live far better than their parents did”.
He added that “large gains in the living standards of Americans will continue for many generations to come.”

good chance the opposite will happen after these un members talk.
 
As we expected, the U.S. House of Representatives approved the "rollback" of the most onerous portions of 2010 Dodd-Frank financial regulations yesterday. As the Wall Street Journal reported...
Congress took a big step Tuesday to relax a wave of crisis-era restrictions placed on financial firms, as the House approved a plan to ease rules for small and midsize banks.
The House voted 258-159 to approve the most significant bipartisan revamp of financial rules since Republicans took control of government last year. Thirty-three Democrats sided with Republicans to pass the bill.
The measure now advances to President Donald Trump for his signature, setting off a wave of deregulatory actions by federal agencies that will ease – but not dismantle – the 2010 Dodd-Frank financial law, which sought to prevent another financial crisis. The legislation leaves untouched most of Dodd-Frank's major planks, such as emergency government powers to take over failing financial firms and curbs on derivatives. These provisions are expected to remain in place for years to come.
​
President Donald Trump is expected to sign the bill into law as early as this week.
 
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