STREET DOGS:
The three of the worst markets calls so far in this century
From MarketWatch.co, three of the worst market calls so far in this century: Back in 2005, Goldman Sachs analysts boldly predicted crude oil would surge to $105 a barrel as tight supply and exploding demand sparked a "superspike" in crude prices. By spring 2008, with crude more than $100, Goldman analyst Arjun Murti doubled down, calling for $200-a-barrel oil. But within months, crude peaked at $147, and it’s been downhill ever since as the world has been flooded with oil and the much touted "commodities supercycle" became a secular bear. In 2009, Marc Faber warned that the Federal Reserve’s zero interest rates and massive bond buying would unleash Weimar-like hyperinflation, and the US dollar would be as worthless as the Zimbabwean counterparts. But the Fed-induced dollar collapse would be a boon to that magical metal, gold. In 2009, Peter Schiff said gold would hit $5,000/oz. Neither of these forecasts has remotely come to pass. Central bankers would be thrilled to see any sign of...
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