Explain this to me. How is is that Most blue chips trading between 10-20 P/E ratios and you are calling this a bubble? I understand you are not happy with the world government monetary system but what does this have to do with corporations being profitable? Are you expecting P/E ratios of 5-10?
It's just a Pavlov response to the huge 2008 drop. The primitive human expects and wants a repetition of that, no matter what the facts (P/E's etc) are. Now, I agree with him that central banks play a VERY dangerous game ... only the real blowup will be far away in the future.
The other problem with the idea of a "slow motion crash" is that empirical evidence shows that declines are faster than rises in financial markets. That's why they say markets "take the escalator up and the elevator down". A "slow motion crash" is a contradiction in terms.
Have you ever witnessed a real equity market crash, in real time in front of a monitor with real time quotes?
I'm not familiar enough with your entire oeuvre to cite your pronouncements correctly, so you'll excuse me if I don't try.
2000, 08 and Flash crash. I was short BSC at 66 or so and closed position as it vaporized....i believe it was a fri or mon....made little in comparison to what I could have made had I gone to the bathroom to take a dump
Crude Oil in 2008 was a slow motion crash. I think it was twice as lethal because it was such an orderly decline that a bunch of people were convinced the "bottom" was just about every single day. I still remember EMR Global jumping all over himself to declare how long he was for the entire decline.