Collapse is what happens while you're watching Faux News 24x7...
Brexit can't be a "Lehman" moment since Lehman no longer exists. The people at the top of the Ponzi scheme don't see this coming, since they control the media and the message, and they're still fat and happy...
But mostly because fake wealth is at all time highs. The rest of the world can be collapsing, but that's all that matters...
"Keep calm, and buy the S&P 500"
Never mind that we've lost all control over the global financial system. Keep trading worthless pieces of paper back and forth pretending to be wealthy, while we compete to see who can have the lowest interest rates. Don't worry about getting out, you won't..."
Lehman no longer exists, so we have to settle for a Goldman Sachs moment. Just remember, no one with their head up their ass saw this coming...
Collapse is like aging it sneaks up on you. One minute you're graduating from High School, and the next minute it's your thirtieth high school reunion and your youngest daughter is graduating from high school. I still look the same though...
In Elliott Wave terms, a 'b' wave is a phony wave. It gives the appearance of a real rally, but the economic underpinnings are continually eroding, the way they have been for seven years of peddled fiction. Collapse is "sudden" and devastating since there's nothing to support the fall...This is also a broadening top wedge formation:
"It is a common saying that smart money is out of market in such formation and market is out of control. In its formation, most of the selling is completed in the early stage by big players and the participation is from general public in the later stage."
Check.
I pride myself on being the most bearish blogger. If I read something more bearish than what I've written, then I immediately get to work. Although that never happens. I read ZeroHedge because they're the next most bearish blog, meaning they're one tenth as bearish as I am. They just wrote that Brexit was a "Bear Stearns" moment, not a Lehman Moment. TOTAL FANTASY...
The minute we stepped past 2008 at 0%, we already accepted a level of risk far beyond Lehman...
How can you compare now to then when Global Central Banks have already reduced interest rates 700 times in the past seven years?
When over $11.7 trillion in sovereign debt is negative yielding
The U.S. ten year is at the lowest level ever
Global debt has grown by $57 trillion since 2007 and "All major economies are now recording higher levels of borrowing relative to gross domestic product (GDP) than they did in 2007"
The U.S. Fed Funds rate is already lower than it was in October 2008. There is nowhere to go.
The Fed printed $3 trillion to levitate the Dow to a level it's been stuck at since 2014
Oil is already down 60% from its highs
Commodities are at 1970s levels
Profits have fallen five quarters straight, for the time since let's see March 2009
Global financials are already in free-fall, featuring Deutsche Bank BELOW the 2009 lows
Global stocks ex-U.S. are down -20% from their 2014 highs and down -32% from their 2007 all time highs
When adjusted for the deficit, the U.S. is already in recession
Real household income is at a 20 year low
Foodstamp use is at an all time high, not withstanding two cutbacks by Congress
U.S. housing prices are in 2005
New Homes sales are at 1960s levels
The Global growth rate is at March 2009 levels
The second largest economy is on verge of final meltdown
The JPY carry trade is unwinding at a rate last seen during the Asian Financial Crisis
This can't be a "Bear Stearns" nor even a "Lehman" Moment, since neither one even exists...
Commodities (red) with Global growth:
Collapse is what happens while you're making other plans and watching Faux News 24x7...