TODAY'S WALL STREET JOURNAL HEADLINED THE RUSH TO MARGIN DEBT...
THE PROBLEM WITH MARGIN DEBT IS THAT EVERYONE THINKS THAT "THEY" WILL GET OUT IN TIME...AND OTHER PEOPLE WILL BE LEFT HOLDING THE BAG...
IT'S ESSENTIALLY A PONZI SCHEME....
THIS MARKET IS SETTING UP FOR A FALL OF BIBICAL PROPORTIONS...
BUT NO ONE KNOWS WHAT WILL TRIGGER A REVERSAL OF MOMENTUM...
I WOULD EXPECT A RECORD BREAKING ONE DAY LOSS OF 600 POINTS ON THE DOW AT SOME POINT THIS SUMMER...
AND THAT COULD ONLY BE THE START OF A LONG TERM SECULAR SHIFT AWAY FROM US ASSETS AND THE DOLLAR TO A MORE INTERNATIONALIST STYLE OF INVESTMENT...
THE BIG CASUALTY OF THIS SUMMER OF OUR DISCONTENT AT THE GAS PUMP WILL ALSO BE THE WORN OUT MYTH OF "AMERICAN EXCEPTIONALISM..."
