The technical and fundamental risks that attend currently are far beyond anything we've experienced in the past 100 years. This asinine strategy of supporting lenders while borrowers get buried under ever-growing debts, has generated extreme risk.
So when I saw Greenspan lower interest rates to 1% after 9/11 for "Patriot Loans" to subsidize houses, cars and other pull forward one-time consumption items, I realized that this was all going to end extremely badly.
Since I started my blog seven years ago, my total return from short-term Treasury Bonds (1-3 year) (SHY ETF) has been 19% fully reinvested with NO DRAWDOWN or loss. In that same time, the stock market (SPY/S&P 500) has returned 53% dividend reinvested with a 55% drawdown in 2008. I need not remind anyone that a 50% loss requires a 100% gain off the lows to break-even, so at the lows the bulls had dug themselves a deep grave indeed. I am more than willing to forego that fleeting difference of ~35% in exchange for seven years of high quality sleep and zero stress. 35% over 7 years is chump change anyway. It's only a difference of 4% per year and my health is worth a lot more to me than 4%. After 15 years of this bullshit, somehow today's stock investors still haven't learned that the market is a massive con game, and they are the suckers at the table. Some people have to learn the (really) hard way.
As a skeptic, this has been the hardest stretch for me since I started blogging seven years ago. It's not easy watching serial insanity taking place and coming up with ever-more strident ways of describing the spreading lunacy. Meanwhile, unlike 2008 literally every well known skeptic has capitulated to the status quo leaving the remainder of us clinging to fragments of our own sanity. That said, that mass capitulation was clearly in the cards and hence seals the fate for the overwhelming majority and especially Wall Street who profited from 2008 but won't see this one coming. It had to be this way, because otherwise they would just invent a new way of rescuing the status quo. This time, globalization will be obliterated.
Those of us who bear witness to the ever-mounting risks and realize where this is all heading are now in the miniscule lonely minority. There are far fewer of us skeptics today than there were back in 2008 when risks were much lower i.e. bank level versus sovereign nation level.