Market Crash if US Policies Continue: Dick Bove

CNBC.com
Tuesday, January 26th, 2010

Some worry Washington actions may create a new bear market. But Dick Bove, financial strategist at Rochdale Securities, fears the worst: He warns that America’s government may instigate a full-fledged market crash. Bove offered CNBC his insights — and named bank stocks that are still strong investments.

“We all agree the market is driven by money. If the money supply increases, the money gets into the market and stock prices go up,” Bove noted.

“But last week, what we saw was a shot at both of the areas where money creation occurs in the United States.”

“On the one hand, we were talking about getting rid of Mr. [Fed Chairman Ben] Bernanke. Mr. Bernanke represents an easy monetary policy.”

View the original article at CNBC.com

Advertisements

Tags: , , ,

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s


%d bloggers like this: