Richard Russell has grown very vocally bearish in recent months. Earlier this year, Russell warned that the stock market was once again becoming grossly overvalued despite its relentless new highs. He has maintained that the bear market
never ended and that the world is far too indebted to exit the bear market. He also believes the bear will not end until all fiat currencies have failed. Although I disagree with him on many aspects of the micro I agree with his larger macro outlook. This bear market is not over. The secular bear market lives on. Mr. Russell thinks we might be on the verge of a terrible collapse: “We’re now in the process of building one of the largest tops in stock market history. The result, I think, will be the most disastrous bear market since the ‘30s, and maybe worse. Question: “What could possibly be behind such a bear market?” you ask. “The stock market is stirring up optimism on a weekly, if not daily basis, by not falling apart.” Answer: This is the “rest” or “dead zone” I was talking about. Bear markets don’t conclude in a day, a week or a month. Months will go by, often adding to the bulls’ optimism.
I think the key element behind this great bear market will be the complete destruction of all fiat currencies. This has been a long time coming. Fiat currencies are “wealth” created by man. They are created without sacrifice, without labor, without risk, and without sweat. Basically they are an immoral device, created by secretive bankers.
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People are crazy if they think we're heading into a recovery. We haven't even purged the debt yet. Buy gold and silver. Stay alert. Buy canned food and seeds. Start a garden. Buy rebar for your windows and a good water filter. Have a bug out bag ready to go. Buy land you can grow on. Learn how to raise chickens. That's the type of world we are heading into.
ReplyDeleteI will laugh when every public union member watches their overly generous pension and benefit plans evaporate and the tax payer shrugg off the yolk of public union greed, it cant happen fast enough....
ReplyDeletewhere's the reset switch? there's no other way but to default and back the new dollar with, i don't know? corn?
ReplyDeletemore than being prepared with gold/silver and food,you must be prepared to adapt to the wild ride that has just started.be prepared mentally.
Yet here we are into the Future, no longer the powerhouse everyone believed in the back of thier mind... The Chinese are where the US manufacturing jobs relocated, they know who holds the purse strings. The Multinational Bankers (Fed Reverse) sold this country down so that Fireside Sale Prices in Amerika could begin!
ReplyDeleteWhen you see your uber Rich Bankster walking down the street thank them in any way you feel denotes thier success at pillaging the foundation of this country...
recent conversation between a man and his doctor:
ReplyDeleteDr. Paul: so what your saying Benny Boy is that if the US is going to remain the world leader in printing worthless money it only helps if we keep that a SECRET.
Bernake: Do I have to admit that on camera? I think you know why we cant kick out the books
Dr. Paul: So this is why we must now expect at some time the currency will be worthless…
Bernake: No Further Comment about how much money we print…