Economist who called ‘Black Monday’ crash of 1987 now has this forecast

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Kitco NEWS
Published at : 24 Oct 2020
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October 19, 1987 was a day of infamy for stock market traders. Known as the “Black Monday” stock market crash, markets all around the world tumbled, with the U.S. markets falling more than 20% during the trading session that day.

Mark Skousen, editor in chief of Forecasts & Strategies, predicted that a major market correction would happen in 1987, and months before October, advised clients to sell all stocks and hold cash.

Skousen has not issued the “sell all” order since 1987, and said that the same indicators that prompted him then to liquidate all holdings are no longer present in our economy.

0:26 - What caused Black Monday
7:15 - Can we see another Black Monday?
16:38 - Current economic recovery

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