If you wanted another sign the economy is not doing well, look no further than the latest allegations General Electric is a “bigger fraud than Enron.” The person making this charge is Harry Markopolos who uncovered the $60 billion Bernie Madoff scam years ago. This is a DOW 30 stock, and downside of this news, if proven true, is dire.
Deutsche Bank (DB), the financial institution the International Monetary Fund (IMF) called the “most systemically dangerous bank in the world” back in 2016, hit a fresh new all-time low of $6.44 per share. Charles Nenner predicted that if DB went below $6.40, it would head to $0 in the not-so-distant-future. Will world renowned, market cycle expert Charles Nenner be proven correct? This also has dire market implications!