Former Republican congressman and two-time GOP presidential candidate Ron Paul warns that a hefty plunge looms for the stock market, but savvy investors can hardly blame President Donald Trump for the carnage.
The former Republican Congressman from Texas blames a buildup of political dysfunction in Washington over recent years.
“A 50 percent pullback is conceivable,” Paul told recently CNBC. “I don’t believe it’s 10 years off. I don’t even believe it’s a year off. “
The Newsmax Insider fears such a market plunge would cut the S&P 500 Index in half, to 1212, and the blue-chip Dow Jones Industrial Average would collapse to 10,837.
Paul noted that there’s a lot of chaos in Washington right now, with an “unpredictable president” and those who are inclined to “tear him apart” but if the market takes that big of a tumble, he doesn’t see it as Trump’s fault.
“It’s all man-made. It’s