Economist Gurwitz: 'Overall Picture' for Stocks and Bonds Not Good

Thursday, 29 May 2014 06:07 PM

By Courtney Coren

  Comment  |
   Contact  |
  Print   |
    A   A  
  Copy Shortlink
As the price of gold nears its bottom and the stock market is near its top, the "overall picture" for stocks and bonds are "not looking so good . . . for the next several years," says economist David Gurwitz, managing director of Charles Nenner Research.

Gurwitz told J.D. Hayworth on "America's Forum" on Newsmax TV Thursday that, starting this year, the Dow Jones Industrial Average will go "down well over 50 percent from its level now and, then afterwards, a major move up over the next decade, but we'll have to survive the next five or six years."

The Dow is currently at 16,698. In February 2009, at the beginning of the recession, it fell to almost 7,000.

Gold is currently at $1,256.10, which is the lowest its been since February when it was at $1,255.68.

"[Gold is] going to go lower," Gurwitz said. "The cycles aren’t bottoming yet . . . and it's not time to buy, but it will be."

"It's been very difficult to be in gold the last two years as you know, but it's getting near time when it will be a bottom," he explained. "Gold stocks look like they're bottoming a little bit later," so July and August "should be a good time" to start buying gold again "for quite a while."

Story continues below video.



The Wall Street Journal is reporting that the dip in gold is part of the fallout from the geopolitical tensions between Russia and Ukraine.

Gurwitz explained that the Russian and Ukrainian tensions, disputes between Japan and China, and problems in the Middle East are all "hotspots" that play a role in the economic cycle.

"We don't know what causes what, we just follow each thing independently, but we don't think it's going to be really positive," he added.

Gurwitz says that right now stocks and bonds will make good short term investments, and gold, silver and grains are good long term investments.

Related Stories:


© 2014 Newsmax. All rights reserved.

  Comment  |
   Contact  |
  Print   |
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

Rep. Erik Paulsen: Obamacare About to Hit Every American

Friday, 19 Dec 2014 18:41 PM

Minnesota Rep. Erik Paulsen says that every American is about to feel the effects of Obamacare when tax season hits in 2 . . .

FALN Victim's Son: Return 2 Cop Killers Living in Cuba to US

Friday, 19 Dec 2014 17:45 PM

Two cop killers brazenly living in Cuba must be returned to the United States now that new diplomatic relations have bee . . .

Gordon Chang: NKorea Didn't Act Alone in Cyberattack

Friday, 19 Dec 2014 16:58 PM

North Korea did not act alone in its devastating cyberattack on Sony Pictures, as President Barack Obama asserted on Fri . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved