Are we towards end of the world as far as financial markets? Nope, just pure deflation in many major assets, ranging from financial assets to commodities to properties, stock markets, derivatives etc.
Just look at the poor guy up there, can he handle the DEBT? No doubt about it, he will be crushed sooner or later if not for the stimulus (extending the debt life, but not improving the assets value of securities). Once the stimulus dies off, the DEBT will come crushing down faster than you can handle, exactly like Sept 2008.
So, be careful especially if you are highly invested.
MyView
I have been warning of the eventure FreeFall since August 2009. I am totally wrong in timing wise, but there is a saying in investment, one have to preserve its capital, failing which, all his gains and capital will be wipe out the moment the Tsunami comes.
If you are prepared for the Tsunami, even you are one year early, that is fine, at least you won't be drowned when it comes, you already have a head start. That is the whole idea, I rather be wrong for a year or two in timing, but, I am still alive when the party is over. Until then, have fun with your party, but the question is, would a drunk person knows how to stop, especially the tap is free?
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