When did people become so stupid? Forget the fiscal deficit, the attention deficit is the biggest deficit we face by far. The surfeit of morons in every direction is beyond frightening.
Oh, and meanwhile, Global Dow is now negative going back to 2013, despite human history's largest amount of casino stimulus having been thrown down the shit hole on special dividends and stock buybacks. And global interest rates at a 500 year low...
Social Mood will be the final arbiter of this shit show. It didn't have to be, but it will. Basically the moment when a bunch of dumbfucks all come to full realization at the exact same time that they are just a bunch of dumbfucks.
And then the underwear will be stained, to be sure. It will be a brown swan event.
Prechter will have his last laugh. And he will laugh hard and long, because there is no worse realization than that one.
When you're not subscribed to reality, everything is a "Black Swan" event.