Or if you prefer....
To those who think that "it's all going to be ok" let me point out a few things I've said repeatedly since this entire mess began and The Ticker began publication.
Might this selloff that we're into now be "a blip"? Maybe. But it doesn't change the trajectory, nor does it change the fact that we didn't get the sorts of valuations and metrics that come with durable Bear Market bottoms in early 2009. As such we are vulnerable to not only a dive back down to those levels but materially below them if we do not deal with the underlying problems, and to date, there is no indication that our government or industry will do so.
Keep playing the Pax Americana theme folks. Reality is coming and it's a clue-by-four aimed straight at your heads.
Where We Are, Where We're Heading (2013) - The annual 2013 Ticker
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