Doomsday clock for global market crash strikes one minute to midnight as central banks lose control

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• When the house of turds Obama's Fed built collapses this time, they gonna blame Bush again?

  • Oh, of course. At this point, I'm surprised they haven't started blaming Teddy Roosevelt or Lincoln.

• Anyone with half a brain should have been squirreling money away in their mattress for the past twenty plus years. Do not take on any debt, do not invest in the markets. You're just setting yourself up for a bad outcome unless you are smart about how you go about it.

  When the shit hits the fan, which it will, don't be the one left holding the bag.

  http://www.fedprimerate.com/dow-jones-industrial-average-djia-history.gif

  What is wrong with this picture? Look back to around 1950 and again around 1970 and 1980. 1950 was a couple of years after the US agreed to Bretton Woods. 1970 is just before Nixon trashed Bretton Woods. Around 1980 is when the "money" pumping ponzi scheme really took off and the mid-90s is when it jumped the shark.

  During the 70s, things were up and down. The economy wasn't great but it also witnessed the rise of distractions like portable audio, video games, disco and so forth. Things hadn't really gotten terrible outside of spurts of inflation and the oil/gas crises.

  Things hit the fan in the late 70s, early 80s.Then we witnessed the "miracle" of Reaganomics through the rest of the 80s which was basically the onset of deficit spending to prop up a faltering economy. It was also the era where the service sector really took off as well as the easy credit era and the rise of the two income household.

  In '87 there was the Savings and Loan crisis which led to, at the time, one of the biggest collapses in the markets since the great depression. Miniscule by today's standards but it was a major impact on the economy in those days. Deficit spending continued to prop up a flailing economy.

  Things weren't terrible overall though and most people were lulled to sleep. The 90s came, there was a brief downturn but then the easy credit era really kicked into gear. All of a sudden, I heard of credit cards for teenagers who had never worked a day in their life. The markets took off, soaring to new heights.

  Now, when I was young, growing up in the 60s and 70s, I lived in NJ and we always heard the market reports on the news. At that age, I was into numbers and statistics. The Dow Jones would always flirt with the 1,000 point barrier, it broke above it a couple of times but always dropped back below 1,000. Then, one day in the early 80s, it broke that 1,000 point threshold for good. Before too much time passed it broke 2,000. Then a few years later, 3,000. A few years after that, 4,000. I was married with stepkids, working 50 hours a week and didn't pay as much attention but it still drew a "Huh" from me. It was just weird that the DJIA, which had been below 1,000 for so long, all of a sudden was reaching new heights on a regular basis.

  Then, the tech and housing bubbles began.The markets were soaring and in he late 90s, you started hearing more and more about IPOs, tech companies that were nothing more than some computer code resting in a server someplace were graced by ridiculous valuations, even when they produced next to nothing tangible. That was my first WTF moment but things were going pretty well, at least they seemed to be so I disregarded it.

  Then the bubble burst in late 2000/early 2001 and the tech party wound down. In its absence, the housing bubble, which really began in the mid-90s took off. That's one of the reasons why the 2001 recession was fairly mild, the housing bubble picked up the slack. All of a sudden, any schmuck that was capable of drawing a breath qualified for a $300,000 mortgage, contrary to what I was taught growing up. You saw shows about house flipping popping up, other shows about home buying with all of these funky mortgage packages. WTF moment #2.

  Then, TSHTF. All of a sudden, house prices started plummeting and that wasn't supposed to happen because we were taught that house always goes up in value. We now know that is bullsh!t. The talk of bailing out the banks arose. I thought, "No, they're not going to do this. A thousand savings and loans went belly up in the late 80s, that's just the way things work.

  The MFers went ahead and jump started the debt train by bailing them out. People jumped on the hopey changey bandwagon because BO, he was going to straighten those naughty rich people up.

  Then in the early summer of 2009, the markets started rallying in the face of companies still laying off left and right. Companies were going under, laying off all over the place but the markets were still rallying. That doesn't make any fricking sense and it turns out the markets were basically being carried by a few bank stocks. It had nothing to do with the health of the economy. That's when I came to the final realization that the economy of the past 20+ years was nothing but a mirage. It's nothing but artificially created prosperity based on debt acquisition.

  Much of the market gains in the past 30 years can be attributed to nothing more than inflation created by unabated credit expansion which contributes to the devaluation of the dollar as well as market speculation and stock overvaluation.

  The economy, the markets, they're nothing more than a fricking mirage, folks. Most of the "wealth" in the world today consists of nothing but numbers on some bank's balance sheet.

• I've been telling anyone that would listen, that the stock market is way too high, and there is nothing to support it. It's overdue for a huge correction, and it will crush the hopes of retirement for those who haven't taken steps to protect their assets.
  One of my customers lost over half of her retirement fund during the last correction, and I blame her financial advisor, because she was retired, and had her investments in moderate risk funds. Once you are 5 or fewer (I suggest 7-10) years away from retirement, you should have everything in stable investments, like interest bearing accounts. They might not make you much, but you won't lose everything either.

  • I love how the talking heads bemoan the fact that China manipulates their stock market. What the hell do they think WE'RE doing? It's all smoke and mirrors...basically FREE money from the Fed for the hedge funds to shuffle around and make billions. The Dow at 18,000 has next to NOTHING to do with how well businesses are doing. And when the Fed FINALLY starts raising interest rates, those same hedge funds will take their winnings and SHORT the market on the way down, making the "correction" exponentially worse.

    This is no different than the bullshit this bathhouse slug has pulled with unemployment numbers, or claiming that the deficit has been reduced under his admin. Don't include people that quit looking for work, only gauge the deficit AFTER you jerked it up a trillion dollars, or keeping the interest rates unnaturally low. It's all 3 card monte bullshit...