The collapse will be fucking epic...
(Charts below from http://www.tradingeconomics.com/):
Australia's debt to GDP ratio is 20%, which is among the lowest in the world, yet its government bonds yield 3.53% i.e. higher than Spain AND Portugal
Stock buybacks have peaked
Fed liquidity flow is receding
Margin debt has peaked
Merger premiums are 2x what they were in 2008
IPO flow is the highest since 2000
The U.S. economy is rolling over
Europe is in renewed recession:
This just in: "Industrial production slumped across Europe in May, sparking fears that the region's fragile economic recovery may have already peaked, analysts said Thursday."
and Etraders are now chasing junk penny stocks
When everyone goes to sell, who is the marginal buyer?