Ron Paul: 25% correction of the markets and 50% growth for gold is not excluded

In an interview with CNBC, Ron Paul, a former GOP president, said the US economy is probably not as strong as everyone expects and the situation could become "ugly" by October.
According to him, if the market drops by 25% and gold is rising by 50%, it would not be a shock.
Such a scenario would take the broad US S&P 500 index to a level of $1,819 and gold to $1,867 per ounce relative to current levels.
Paul is known for his bearish expectations and open-ended critic of the Trump administration. He also often criticizes the Fed for maintaining interest rates at too low levels for too long.
This, of course, is not the first time that Paul predicts an adjustment. He did the same on June 28 2016, or just a year ago. Since then, the S&P 500 index has risen by 21% and Dow has added 24%. Technological Nasdaq is traded with an increase of 34%.
Paul, however, continues to hold on to his thesis.