Please see the website for the video.
The current global stock-market crash is eerily reminiscent of the Wall Street crash of 1929, investment expert and author James Dale Davidson told Newsmax TV.
“What we’re seeing, if I could say it this way, is a rerun of 1929 with the main crash falling in Shanghai rather than in Wall Street,” he told “Newsmax Prime.”
“If you’re not scared, you’re not watching,” he said. “Since the last time I was on Newsmax TV on the 11th of August to discuss the Chinese devaluation, which was a small step, I said it was only the beginning of a major change that was going on. And since that time, $5 trillion have gone to money heaven, which is a significant change,” he said.
As to what to expect in the future, he explained that the answer can be found in the past. Specifically, the Wall Street crash of 1929.
“If you look back at these economic crises and stock market collapses that are associated with depressions, the first stage is what we’ve already seen, which is the big fall off in commodity prices,” he said.
“If you go back to the Great Depression, it didn’t start in 1929 in all the countries, he said.
“It started in 1928 in Australia and in Argentina and Brazil, Uruguay, and Finland, Bulgaria, and in Germany. The depression had already begun by 1928 and then we had a huge, huge sell-off in Wall Street, which sort of rang the bell so that anybody who was not watching then knew” that we were in deep trouble.
“We’re into this same kind of cycle as it relates to the collapse of world demand, the fact that we’ve had commodity prices plunging,” he said.
Full article: James Dale Davidson: Current Global Crash Is a ‘Rerun of 1929’ (NewsMax Finance)