Art Cashin Warns Market Volatility "Unfortunately Reminiscent Of 1987"

While Gluskin Sheff's David Rosenberg has noted the macro/fundamental similarities between today's tumultuous markets and those of 1987...

"Rising bond yields. Full employment.  Fed tightening. Trade frictions. Weak dollar. Rising twin deficits, spurred by tax reform. Sound familiar? It should. This was 1987.  Start rebalancing."

UBS' veteran markets observer Art Cashin sees more ominous signals in the market's price machinations.

As CNBC reports, Cashin said this year's market volatility reminds him of the 1987 stock market crash.

"It's a good deal more volatile than almost anything else you've seen," said Cashin, who began his career at Thomson McKinnon in 1959.

"It is unfortunately reminiscent of some of the volatility we saw in '87," he said Thursday on CNBC's "Closing Bell."

The echoes are growing louder...

"It's been a bumpy road," Cashin concluded... with more to come we suspect.

Comments

Everybodys All… Fri, 04/06/2018 - 12:06 Permalink

We do not have full employment Art. Not even close despite the artful government curators. Btw you can think BC for changing how all those employment numbers are determined.

Snaffew buzzsaw99 Fri, 04/06/2018 - 14:21 Permalink

hah...crash these markets 50 percent in a short time and I'd believe you'd see fucking mad fear everywhere.  you wouldn't be able to escape it---it would be the main topic of conversation on every bit of the thousands of media outlets out there.  1987 should scare you...if it doesn't, then that means you are all in short.

In reply to by buzzsaw99

Alexander De Large Fri, 04/06/2018 - 12:16 Permalink

Stfu and buy every dip.

These faggots gained prominence convincing you 1929 was imminent.  That failed, now these sons of whores are telling you about 1987.

Shut the fuck up, bro.  Srsly.

You dumb fucking goyim are listening to Jews named David Stockman and Art Cashin.  Really.

I would feel sorry for your mother if she didn't already die choking on semen in a Jap whorehouse.

FPearl602 Fri, 04/06/2018 - 12:48 Permalink

Q: How do you get your broker out of a tree?

A: Cut the fucking rope.

Q. What's the difference between a central banker and a bucket of shit?

A. The fucking bucket...

Q. How are Goldman bankers able to swim through shark-infested waters unharmed?

A. Professional fucking ethic.

Cirque de Soleil: "cunning array of stunts"

Ten JP Morgan bankers: "stunning array of cunts"

 

Nobody For President Fri, 04/06/2018 - 15:23 Permalink

Oh, how all you fucking kids love to trash Art, who is probably about 80 or 81 these days, and has forgotten more about how this so called 'market' works than you will ever know.

I graduated from college in 1960 (and an MBA in '61) so Art and I are more or less contemporaries. Bought my first stocks in '63, got rich (relatively to being a poor kid who worked his way through college) slowly - the old fundamentals matter way. Lewis Engel's "How To Buy Stocks" was my bible - given to me by my Momma's rich Uncle when I was 15. Everyone should have a self-made rich uncle, and he was - from mail room boy to CEO to Chairman of the Board Emeritus when I graduated from college; and he gave me my REAL final exam (long story).

So now Art drinks a lot - so do I. Fuck you all, who I assume are all red-hot traders that are making money hand over fist (so am I - still). [Do I need a 'sarc tag here? Some of the newbies on the list seem particularly dense.] 

Good old Art is OK. The market has been his whole fucking life - no wonder he drinks too much. i doubt he will ever retire, or wants to. Think about that hot-shit traders, or wanna-be's. And for the rest of you that just stand on the sidelines without any skin in the game - you are too contemptuous to even bother saying fuck you.