“BofA Says Cash Is King as Investor Pessimism Hits 2008-Era High”
September 23, 2022
“Investors are flocking to cash and shunning almost every other asset class as they turn the most pessimistic since the global financial crisis, according to Bank of America Corp. strategists.
Cash had inflows of $30.3 billion, while global equity funds saw outflows of $7.8 billion in the week through Sept. 21, the bank said in a note, citing EPFR Global data. Bond funds lost $6.9 billion, while $400 million left gold, the data showed.
Investor sentiment is “unquestionably” the worst it’s been since the crisis of 2008, with losses in government bonds being the highest since 1920, strategists led by Michael Hartnett wrote in the note. They see cash, commodities and volatility continuing to outperform bonds and stocks, with Bank of America’s custom bull and bear indicator returning to the maximum level of bearishness…”
https://finance.yahoo.com/news/bofa-says-cash-king-investor-071851829.html
Of course cash is king. It always is. There’s really only two options the bank can ultimately take. 1.) Let the dollar survive. This means when stocks crash smart people, not just the wealthy, will buy up stocks. 2:) Allow the dollar to be destroyed by hyperinflation — which means people with mortgages will pay for their homes with basically monopoly money.
America isn’t a third world country. Even if the dollar collapses we still have the majority of the world wealth. Also for all those worrying about America being reliant on other countries for goods and services — don’t forget it wasn’t too long ago America was self sufficient. America would immediately start producing all its needed products again. We’d have 2 maybe 3 years of pain until production came back and then we’d become the world’s #1 producer again. At that point our products would be cheaper than China. It’d be the 1950’s all over again.
These people saying all this doom and gloom stuff is just scare tactics. The fact of the matter is as long as America is a free capitalist nation it can not be stopped. It’s just that simple.