We've Seen This Movie Before, We Know How It Ends...

I just read a technically oriented financial pundit who was asked if this was a triple top. She quickly dismissed the idea, on the basis that such a formation would imply a next move that would take the S&P 500 below the 666 low of March 2009. In other words, it could be, but since such an event is unthinkable, it can't be...that's the thought process of the Idiocracy in a nutshell at this juncture.

Even on this very long-term chart, the latest spike to a high is vertically ludicrous. And for Macleans (Canada's version of Time magazine) to tell us this week that now is a great time to buy stocks, is beyond insane. We see how well buying at these levels worked out the last two times. In fact I lost a chunk of change of my own atop that first spike back in 2000. All I thought afterwards, was what a fucking chump. How did I not see that coming. Of course the signs of unsustainable excess at that time were lined up the same as they are now. So the real question on the table at this juncture, for the "buy now"/new bull market dunces - who is going to stump the next $8 trillion of combined fiscal and monetary stimulus that it took to levitate global markets this far?