Matthias Chang had been right on the money so many times it’s not funny anymore. Who was it who sneered at him with “Even a broken clock will tell the correct time twice every day?” I think we now know who the ‘broken clock’ really is, don’t we?
Anyway it’s still not too late to give credit where it is due. Perfect timing is key, they say. But, first, get yourself a new clock. ;-)
Once again Mathias Chang proven right 100% — Dow closed below 7,000 today
By Matthias Chang
Tuesday, 03 March 2009, 08:16
In an article dated the 12th December 2008, entitled “Obama’s Last Gamble” which was posted to my website, I forecasted that at the earliest, by the end of December 2008 or at the latest by the end of the first quarter of 2009, the Dow will plunge below 7,000. I had also forecasted that just before the inauguration of Obama there will be a suckers’ rally that will continue for a short while soon after.
The Dow rallied some 800 points to reach 9,000 in the days leading to the inauguration of President Obama and since then it has swung back and forth but always downwards.
Today, the Dow has breached the critical level of 7,000!
Worst is yet to come.
Since 2006, I have been proven right time after time.
When the Dow was 14,000, I advised my friends that it will soon dive below 11,000. Further research showed that even at this level, it could not be sustained and I gave the call to short the Dow as it would plunge below 9,000. These facts can be verified in my books, The Shadow Money-Lenders and Will Barisan Nasional Survive Beyond 2010? published in early 2008 and the articles posted to this website!
Not one political / financial analyst in Malaysia dare make such calls. They were completely out of the loop, frolicking in La La land and telling fairy tales that a “new era of prosperity was on the horizon. Good times are here for good”. This was even after the collapse of Bear Stearns in 2007 and Lehman Bros in 2008. All these “famous” economists and feature writers of leading financial dailies could not see beyond their noses, and some of them even have a string of alphabets behind their names!
Many have asked me how I have been so accurate. I told them I have a crystal ball. And my crystal ball is MERE COMMON SENSE.
As I am not part of the vested-interest and have not indulged in frivolous gambling at the stock market and or the derivative casino, I could stand apart and look at the unfolding events objectively. Neither was I infected with the investment bankers’ virus – structured investment vehicles!
This is also a reflection of my legal training. As lawyers, we have to present objective truth to our clients and advise dispassionately the pros and cons of any situation.
The world’s financial system is in total disarray!
It is bankrupt!
It is the end of the era of Wall Street and City of London Global Ponzi Schemes.
And war is round the corner.
Who do you want to believe – the sleepy heads and blockheads on the 4th Floor of the Prime Minister’s Office, the so-called leading financial analysts or me?
All the statistics from Bank Negara are suspect. The Governor got it wrong so often it is an embarrassment. The same applies to the Treasury. I have stated that the GDP for 2009 will be zero or negative. The government has since revised its growth forecast downwards several times and will continue to do so in the future.
If you want to survive, continue to visit my website!
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