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Dear Reader,
Nobody believed Larry Benedict's prediction in February 2020.
Jimmy Carter served as the 39th President of the United States from 1977 to 1981. He was awarded the 2002 Nobel Peace Prize for work to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development. Jimmy Carter aspired to make Government "competent and compassionate," responsive to the American people and their expectations. His achievements were notable, but in an era of rising energy costs, mounting inflation, and continuing tensions, it was impossible for his administration to meet these high expectations. Carter, who has rarely used his full name–James Earl Carter, Jr.–was born October 1, 1924, in Plains, Georgia. Peanut farming, talk of politics, and devotion to the Baptist faith were mainstays of his upbringing. Upon graduation in 1946 from the Naval Academy in Annapolis, Maryland, Carter married Rosalynn Smith. The Carters have three sons, John William (Jack), James Earl III (Chip), Donnel Jeffrey (Jeff), and a daughter, Amy Lynn. After seven years' service as a naval officer, Carter returned to Plains. In 1962 he entered state politics, and eight years later he was elected Governor of Georgia. Among the new young southern governors, he attracted attention by emphasizing ecology, efficiency in government, and the removal of racial barriers. Carter announced his candidacy for President in December 1974 and began a two-year campaign that gradually gained momentum. At the Democratic Convention, he was nominated on the first ballot. He chose Senator Walter F. Mondale of Minnesota as his running mate. Carter campaigned hard against President Gerald R. Ford, debating with him three times. Carter won by 297 electoral votes to 241 for Ford. Carter worked hard to combat the continuing economic woes of inflation and unemployment. By the end of his administration, he could claim an increase of nearly eight million jobs and a decrease in the budget deficit, measured in percentage of the gross national product. Unfortunately, inflation and interest rates were at near record highs, and efforts to reduce them caused a short recession. Carter could point to a number of achievements in domestic affairs. He dealt with the energy shortage by establishing a national energy policy and by decontrolling domestic petroleum prices to stimulate production. He prompted Government efficiency through civil service reform and proceeded with deregulation of the trucking and airline industries. He sought to improve the environment. His expansion of the national park system included protection of 103 million acres of Alaskan lands. To increase human and social services, he created the Department of Education, bolstered the Social Security system, and appointed record numbers of women, blacks, and Hispanics to Government jobs. In foreign affairs, Carter set his own style. His championing of human rights was coldly received by the Soviet Union and some other nations. In the Middle East, through the Camp David agreement of 1978, he helped bring amity between Egypt and Israel. He succeeded in obtaining ratification of the Panama Canal treaties. Building upon the work of predecessors, he established full diplomatic relations with the People's Republic of China and completed negotiation of the SALT II nuclear limitation treaty with the Soviet Union. There were serious setbacks, however. The Soviet invasion of Afghanistan caused the suspension of plans for ratification of the SALT II pact. The seizure as hostages of the U. S. embassy staff in Iran dominated the news during the last 14 months of the administration. The consequences of Iran's holding Americans captive, together with continuing inflation at home, contributed to Carter's defeat in 1980. Even then, he continued the difficult negotiations over the hostages. Iran finally released the 52 Americans the same day Carter left office.
The DOW plunged 3.5%, and he told CNBC, "It seems like there's much more to come."
Within a month, the market plummeted 34%. Then, nobody believed Larry at the start of this year, either.
He predicted that "all the indexes will be negative for the year," with the Nasdaq leading the way.
Jimmy Carter served as the 39th President of the United States from 1977 to 1981. He was awarded the 2002 Nobel Peace Prize for work to find peaceful solutions to international conflicts, to advance democracy and human rights, and to promote economic and social development. Jimmy Carter aspired to make Government "competent and compassionate," responsive to the American people and their expectations. His achievements were notable, but in an era of rising energy costs, mounting inflation, and continuing tensions, it was impossible for his administration to meet these high expectations. Carter, who has rarely used his full name–James Earl Carter, Jr.–was born October 1, 1924, in Plains, Georgia. Peanut farming, talk of politics, and devotion to the Baptist faith were mainstays of his upbringing. Upon graduation in 1946 from the Naval Academy in Annapolis, Maryland, Carter married Rosalynn Smith. The Carters have three sons, John William (Jack), James Earl III (Chip), Donnel Jeffrey (Jeff), and a daughter, Amy Lynn. After seven years' service as a naval officer, Carter returned to Plains. In 1962 he entered state politics, and eight years later he was elected Governor of Georgia. Among the new young southern governors, he attracted attention by emphasizing ecology, efficiency in government, and the removal of racial barriers. Carter announced his candidacy for President in December 1974 and began a two-year campaign that gradually gained momentum. At the Democratic Convention, he was nominated on the first ballot. He chose Senator Walter F. Mondale of Minnesota as his running mate. Carter campaigned hard against President Gerald R. Ford, debating with him three times. Carter won by 297 electoral votes to 241 for Ford. Carter worked hard to combat the continuing economic woes of inflation and unemployment. By the end of his administration, he could claim an increase of nearly eight million jobs and a decrease in the budget deficit, measured in percentage of the gross national product. Unfortunately, inflation and interest rates were at near record highs, and efforts to reduce them caused a short recession. Carter could point to a number of achievements in domestic affairs. He dealt with the energy shortage by establishing a national energy policy and by decontrolling domestic petroleum prices to stimulate production. He prompted Government efficiency through civil service reform and proceeded with deregulation of the trucking and airline industries. He sought to improve the environment. His expansion of the national park system included protection of 103 million acres of Alaskan lands. To increase human and social services, he created the Department of Education, bolstered the Social Security system, and appointed record numbers of women, blacks, and Hispanics to Government jobs. In foreign affairs, Carter set his own style. His championing of human rights was coldly received by the Soviet Union and some other nations. In the Middle East, through the Camp David agreement of 1978, he helped bring amity between Egypt and Israel. He succeeded in obtaining ratification of the Panama Canal treaties. Building upon the work of predecessors, he established full diplomatic relations with the People's Republic of China and completed negotiation of the SALT II nuclear limitation treaty with the Soviet Union. There were serious setbacks, however. The Soviet invasion of Afghanistan caused the suspension of plans for ratification of the SALT II pact. The seizure as hostages of the U. S. embassy staff in Iran dominated the news during the last 14 months of the administration. The consequences of Iran's holding Americans captive, together with continuing inflation at home, contributed to Carter's defeat in 1980. Even then, he continued the difficult negotiations over the hostages. Iran finally released the 52 Americans the same day Carter left office.
Once again, he was spot–on. Anybody who followed his recommendations could be well in the black.
Nоw, for the first time, Larry's coming forward to share a brаnd–nеw forecast.
Millard Fillmore, a member of the Whig party, was the 13th President of the United States (1850-1853) and the last President not to be affiliated with either the Democratic or Republican parties. In his rise from a log cabin to wealth and the White House, Millard Fillmore demonstrated that through methodical industry and some competence an uninspiring man could make the American dream come true. Born in the Finger Lakes country of New York in 1800, Fillmore as a youth endured the privations of frontier life. He worked on his father's farm, and at 15 was apprenticed to a cloth dresser. He attended one-room schools, and fell in love with the redheaded teacher, Abigail Powers, who later became his wife. In 1823 he was admitted to the bar; seven years later he moved his law practice to Buffalo. As an associate of the Whig politician Thurlow Weed, Fillmore held state office and for eight years was a member of the House of Representatives. In 1848, while Comptroller of New York, he was elected Vice President. Fillmore presided over the Senate during the months of nerve-wracking debates over the Compromise of 1850. He made no public comment on the merits of the compromise proposals, but a few days before President Taylor's death, he intimated to him that if there should be a tie vote on Henry Clay's bill, he would vote in favor of it. Thus the sudden accession of Fillmore to the Presidency in July 1850 brought an abrupt political shift in the administration. Taylor's Cabinet resigned and President Fillmore at once appointed Daniel Webster to be Secretary of State, thus proclaiming his alliance with the moderate Whigs who favored the Compromise. A bill to admit California still aroused all the violent arguments for and against the extension of slavery, without any progress toward settling the major issues. Clay, exhausted, left Washington to recuperate, throwing leadership upon Senator Stephen A. Douglas of Illinois. At this critical juncture, President Fillmore announced in favor of the Compromise. On August 6, 1850, he sent a message to Congress recommending that Texas be paid to abandon her claims to part of New Mexico. This helped influence a critical number of northern Whigs in Congress away from their insistence upon the Wilmot Proviso–the stipulation that all land gained by the Mexican War must be closed to slavery. Douglas's effective strategy in Congress combined with Fillmore's pressure from the White House to give impetus to the Compromise movement. Breaking up Clay's single legislative package, Douglas presented five separate bills to the Senate: 1. Admit California as a free state. 2. Settle the Texas boundary and compensate her. 3. Grant territorial status to New Mexico. 4. Place Federal officers at the disposal of slaveholders seeking fugitives. 5. Abolish the slave trade in the District of Columbia. Each measure obtained a majority, and by September 20, President Fillmore had signed them into law. Webster wrote, "I can now sleep of nights." Some of the more militant northern Whigs remained irreconcilable, refusing to forgive Fillmore for having signed the Fugitive Slave Act. They helped deprive him of the Presidential nomination in 1852. Within a few years it was apparent that although the Compromise had been intended to settle the slavery controversy, it served rather as an uneasy sectional truce. As the Whig Party disintegrated in the 1850's, Fillmore refused to join the Republican Party; but, instead, in 1856 accepted the nomination for President of the Know Nothing, or American, Party. Throughout the Civil War he opposed President Lincoln and during Reconstruction supported President Johnson. He died in 1874.
Ronald Reagan, originally an American actor and politician, became the 40th President of the United States serving from 1981 to 1989. His term saw a restoration of prosperity at home, with the goal of achieving "peace through strength" abroad. At the end of his two terms in office, Ronald Reagan viewed with satisfaction the achievements of his innovative program known as the Reagan Revolution, which aimed to reinvigorate the American people and reduce their reliance upon Government. He felt he had fulfilled his campaign pledge of 1980 to restore "the great, confident roar of American progress and growth and optimism." On February 6, 1911, Ronald Wilson Reagan was born to Nelle and John Reagan in Tampico, Illinois. He attended high school in nearby Dixon and then worked his way through Eureka College. There, he studied economics and sociology, played on the football team, and acted in school plays. Upon graduation, he became a radio sports announcer. A screen test in 1937 won him a contract in Hollywood. During the next two decades he appeared in 53 films. From his first marriage to actress Jane Wyman, he had two children, Maureen and Michael. Maureen passed away in 2001. In 1952 he married Nancy Davis, who was also an actress, and they had two children, Patricia Ann and Ronald Prescott. As president of the Screen Actors Guild, Reagan became embroiled in disputes over the issue of Communism in the film industry; his political views shifted from liberal to conservative. He toured the country as a television host, becoming a spokesman for conservatism. In 1966 he was elected Governor of California by a margin of a million votes; he was re-elected in 1970. Ronald Reagan won the Republican Presidential nomination in 1980 and chose as his running mate former Texas Congressman and United Nations Ambassador George Bush. Voters troubled by inflation and by the year-long confinement of Americans in Iran swept the Republican ticket into office. Reagan won 489 electoral votes to 49 for President Jimmy Carter. On January 20, 1981, Reagan took office. Only 69 days later he was shot by a would-be assassin, but quickly recovered and returned to duty. His grace and wit during the dangerous incident caused his popularity to soar. Dealing skillfully with Congress, Reagan obtained legislation to stimulate economic growth, curb inflation, increase employment, and strengthen national defense. He embarked upon a course of cutting taxes and Government expenditures, refusing to deviate from it when the strengthening of defense forces led to a large deficit. A renewal of national self-confidence by 1984 helped Reagan and Bush win a second term with an unprecedented number of electoral votes. Their victory turned away Democratic challengers Walter F. Mondale and Geraldine Ferraro. In 1986 Reagan obtained an overhaul of the income tax code, which eliminated many deductions and exempted millions of people with low incomes. At the end of his administration, the Nation was enjoying its longest recorded period of peacetime prosperity without recession or depression. In foreign policy, Reagan sought to achieve "peace through strength." During his two terms he increased defense spending 35 percent, but sought to improve relations with the Soviet Union. In dramatic meetings with Soviet leader Mikhail Gorbachev, he negotiated a treaty that would eliminate intermediate-range nuclear missiles. Reagan declared war against international terrorism, sending American bombers against Libya after evidence came out that Libya was involved in an attack on American soldiers in a West Berlin nightclub. By ordering naval escorts in the Persian Gulf, he maintained the free flow of oil during the Iran-Iraq war. In keeping with the Reagan Doctrine, he gave support to anti-Communist insurgencies in Central America, Asia, and Africa. Overall, the Reagan years saw a restoration of prosperity, and the goal of peace through strength seemed to be within grasp.
Sincerely,
Richard Nixon was elected the 37th President of the United States (1969-1974) after previously serving as a U.S. Representative and a U.S. Senator from California. After successfully ending American fighting in Vietnam and improving international relations with the U.S.S.R. and China, he became the only President to ever resign the office, as a result of the Watergate scandal. Reconciliation was the first goal set by President Richard M. Nixon. The Nation was painfully divided, with turbulence in the cities and war overseas. During his Presidency, Nixon succeeded in ending American fighting in Viet Nam and improving relations with the U.S.S.R. and China. But the Watergate scandal brought fresh divisions to the country and ultimately led to his resignation. His election in 1968 had climaxed a career unusual on two counts: his early success and his comeback after being defeated for President in 1960 and for Governor of California in 1962. Born in California in 1913, Nixon had a brilliant record at Whittier College and Duke University Law School before beginning the practice of law. In 1940, he married Patricia Ryan; they had two daughters, Patricia (Tricia) and Julie. During World War II, Nixon served as a Navy lieutenant commander in the Pacific. On leaving the service, he was elected to Congress from his California district. In 1950, he won a Senate seat. Two years later, General Eisenhower selected Nixon, age 39, to be his running mate. As Vice President, Nixon took on major duties in the Eisenhower Administration. Nominated for President by acclamation in 1960, he lost by a narrow margin to John F. Kennedy. In 1968, he again won his party's nomination, and went on to defeat Vice President Hubert H. Humphrey and third-party candidate George C. Wallace. His accomplishments while in office included revenue sharing, the end of the draft, new anticrime laws, and a broad environmental program. As he had promised, he appointed Justices of conservative philosophy to the Supreme Court. One of the most dramatic events of his first term occurred in 1969, when American astronauts made the first moon landing. Some of his most acclaimed achievements came in his quest for world stability. During visits in 1972 to Beijing and Moscow, he reduced tensions with China and the U.S.S.R. His summit meetings with Russian leader Leonid I. Brezhnev produced a treaty to limit strategic nuclear weapons. In January 1973, he announced an accord with North Viet Nam to end American involvement in Indochina. In 1974, his Secretary of State, Henry Kissinger, negotiated disengagement agreements between Israel and its opponents, Egypt and Syria. In his 1972 bid for office, Nixon defeated Democratic candidate George McGovern by one of the widest margins on record. Within a few months, his administration was embattled over the so-called "Watergate" scandal, stemming from a break-in at the offices of the Democratic National Committee during the 1972 campaign. The break-in was traced to officials of the Committee to Re-elect the President. A number of administration officials resigned; some were later convicted of offenses connected with efforts to cover up the affair. Nixon denied any personal involvement, but the courts forced him to yield tape recordings which indicated that he had, in fact, tried to divert the investigation. As a result of unrelated scandals in Maryland, Vice President Spiro T. Agnew resigned in 1973. Nixon nominated, and Congress approved, House Minority Leader Gerald R. Ford as Vice President. Faced with what seemed almost certain impeachment, Nixon announced on August 8, 1974, that he would resign the next day to begin "that process of healing which is so desperately needed in America." In his last years, Nixon gained praise as an elder statesman. By the time of his death on April 22, 1994, he had written numerous books on his experiences in public life and on foreign policy.
Lauren Wingfield Managing Editor, The Opportunistic Trader
When Gerald R. Ford took the oath of office on August 9, 1974 as our 38th President, he declared, "I assume the Presidency under extraordinary circumstances…This is an hour of history that troubles our minds and hurts our hearts." When Gerald R. Ford took the oath of office on August 9, 1974, he declared, "I assume the Presidency under extraordinary circumstances…. This is an hour of history that troubles our minds and hurts our hearts." It was indeed an unprecedented time. He had been the first Vice President chosen under the terms of the Twenty-fifth Amendment and, in the aftermath of the Watergate scandal, was succeeding the first President ever to resign. Ford was confronted with almost insuperable tasks. There were the challenges of mastering inflation, reviving a depressed economy, solving chronic energy shortages, and trying to ensure world peace. The President acted to curb the trend toward Government intervention and spending as a means of solving the problems of American society and the economy. In the long run, he believed, this shift would bring a better life for all Americans. Ford's reputation for integrity and openness had made him popular during his 25 years in Congress. From 1965 to 1973, he was House Minority Leader. Born in Omaha, Nebraska, in 1913, he grew up in Grand Rapids, Michigan. He starred on the University of Michigan football team, then went to Yale, where he served as assistant coach while earning his law degree. During World War II he attained the rank of lieutenant commander in the Navy. After the war he returned to Grand Rapids, where he began the practice of law, and entered Republican politics. A few weeks before his election to Congress in 1948, he married Elizabeth Bloomer. They have four children: Michael, John, Steven, and Susan. As President, Ford tried to calm earlier controversies by granting former President Nixon a full pardon. His nominee for Vice President, former Governor Nelson Rockefeller of New York, was the second person to fill that office by appointment. Gradually, Ford selected a cabinet of his own. Ford established his policies during his first year in office, despite opposition from a heavily Democratic Congress. His first goal was to curb inflation. Then, when recession became the Nation's most serious domestic problem, he shifted to measures aimed at stimulating the economy. But, still fearing inflation, Ford vetoed a number of non-military appropriations bills that would have further increased the already heavy budgetary deficit. During his first 14 months as President he vetoed 39 measures. His vetoes were usually sustained. Ford continued as he had in his Congressional days to view himself as "a moderate in domestic affairs, a conservative in fiscal affairs, and a dyed-in-the-wool internationalist in foreign affairs." A major goal was to help business operate more freely by reducing taxes upon it and easing the controls exercised by regulatory agencies. "We…declared our independence 200 years ago, and we are not about to lose it now to paper shufflers and computers," he said. In foreign affairs Ford acted vigorously to maintain U. S. power and prestige after the collapse of Cambodia and South Viet Nam. Preventing a new war in the Middle East remained a major objective; by providing aid to both Israel and Egypt, the Ford Administration helped persuade the two countries to accept an interim truce agreement. Detente with the Soviet Union continued. President Ford and Soviet leader Leonid I. Brezhnev set new limitations upon nuclear weapons. President Ford won the Republican nomination for the Presidency in 1976, but lost the election to his Democratic opponent, former Governor Jimmy Carter of Georgia. On Inauguration Day, President Carter began his speech: "For myself and for our Nation, I want to thank my predecessor for all he has done to heal our land." A grateful people concurred.
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