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Stock Market Bubble: Wall Street Is Ecstatic As The NASDAQ Closes Above 5000

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Bubble In Hands - Public DomainAre we at the tail end of the stock market bubble to end all stock market bubbles?  Wall Street was full of glee Monday when the Nasdaq closed above 5000 for the first time since the peak of the dotcom bubble in March 2000.  And almost everyone in the financial world seems convinced that things are somehow “different” this time around.  Even though by almost every objective measure stocks are wildly overpriced right now, and even though there are a whole host of signs that economic trouble is on the horizon, the overwhelming consensus is that this bull market is just going to keep charging ahead.  But of course that is what they thought just before the last two stock market crashes in 2001 and 2008 as well.  No matter how many times history repeats, we never seem to learn from it.

Back in October 2002, the Nasdaq hit a post-dotcom bubble low of 1108.  From there, it went on an impressive run.  In late 2007, it briefly moved above 2800 before losing more than half of its value during the stock market crash of 2008.

So the fact that the Nasdaq has now closed above 5000 is a really big deal.  The following is how USA Today described what happened on Monday…

The Nasdaq Composite capped its long march back to 5000 Monday, eclipsing, then closing above the long-hallowed mark for the first time since March 2000.

The arduous climb came on the heels of a 10-day winning streak that ended last week, Nasdaq’s longest since July 2009. That helped fuel the technology-heavy market index to a 7% gain in February, the sixth-largest monthly climb since its 1971 launch.

The chart below shows how the Nasdaq has performed over the past decade.  As you can see, we are coming dangerously close to doubling the peak that was hit just before the last stock market collapse…

NASDAQ since 2005

By looking at that chart, you would be tempted to think that the overall U.S. economy must be doing great.

But of course that is not the case at all.

For example, just take a look at what has happened to the employment-population ratio over the past decade.  The percentage of the working age U.S. population that is currently employed is actually far lower than it used to be…

Employment Population Ratio Since 2005

So why is the stock market doing so well if the overall economy is not?

Well, the truth is that stocks have become completely divorced from economic reality at this point.  Wall Street has been transformed into a giant casino, and trading stocks has been transformed into a high stakes poker game.

And one of the ways that we can tell that a stock market bubble has formed is when people start borrowing massive amounts of money to invest in stocks.  As you can see from the commentary and chart from Doug Short below, margin debt is peaking again just like it did just prior to the last two stock market crashes…

Unfortunately, the NYSE margin debt data is a month old when it is published. Real (inflation-adjusted) debt hit its all-time high in February 2014, after which it margin declined sharply for two months, but by June it had risen to a level about two percent below its high and then oscillated in a relatively narrow range. The latest data point for January is four percent off its real high eleven month ago.

Margin Debt - Doug Short

So why can’t more people see this?

We are in the midst of a monumental stock market bubble and most on Wall Street seem willingly blind to it.

Fortunately, there are a few sober voices in the crowd.  One of them is John Hussman.  He is warning that now is the time to get out of stocks

Unless we observe a rather swift improvement in market internals and a further, material easing in credit spreads – neither which would relieve the present overvaluation of the market, but both which would defer our immediate concerns about downside risk – the present moment likely represents the best opportunity to reduce exposure to stock market risk that investors are likely to encounter in the coming 8 years.

Last week, the cyclically-adjusted P/E of the S&P 500 Index surpassed 27, versus a historical norm of just 15 prior to the late-1990’s market bubble. The S&P 500 price/revenue ratio surpassed 1.8, versus a pre-bubble norm of just 0.8. On a wide range of historically reliable measures (having a nearly 90% correlation with actual subsequent S&P 500 total returns), we estimate current valuations to be fully 118% above levels associated with historically normal subsequent returns in stocks. Advisory bullishness (Investors Intelligence) shot to 59.5%, compared with only 14.1% bears – one of the most lopsided sentiment extremes on record. The S&P 500 registered a record high after an advancing half-cycle since 2009 that is historically long-in-the-tooth and already exceeds the valuation peaks set at every cyclical extreme in history but 2000 on the S&P 500 (across all stocks, current median price/earnings, price/revenue and enterprise value/EBITDA multiples already exceed the 2000 extreme). Equally important, our measures of market internals and credit spreads, despite moderate improvement in recent weeks, continue to suggest a shift toward risk-aversion among investors. An environment of compressed risk premiums coupled with increasing risk-aversion is without question the most hostile set of features one can identify in the historical record.

Everyone knows that the stock market cannot stay detached from economic reality forever.

At some point the bubble is going to burst.

If you want to know what the real economy is like, just ask Alison Norris of Detroit, Michigan

When Alison Norris couldn’t find work in Detroit, she searched past city limits, ending up with a part-time restaurant job 20 miles away, which takes at least two hours to get to using public transportation.

Norris has to take two buses to her job at a suburban mall in Troy, Michigan, using separate city and suburban bus systems.

For many city residents with limited skills and education, Detroit is an employment desert, having lost tens of thousands of blue-collar jobs in manufacturing cutbacks and service jobs as the population dwindled.

Sadly, her story is not an anomaly.  I get emails from readers all the time that are out of work and just can’t seem to find a decent job no matter how hard they try.

It would be one thing if the stock market was soaring because the U.S. economy was thriving.

But we all know that is not true.

So that means the current stock market mania that we are witnessing is artificial.

How long will it last?

Give us your opinion by posting a comment below…

  • dave

    I am as dismayed with the stock bubble as i am with the apathy of Americans,and the illogical faith in Obama.Virtually the whole world except for a few areas is in a massive debt bubble,with failing economies,this will not end well.

  • big al

    I wonder who the greedy stock market trader puppets will Turn to when the big crash comes and they realize that they can’t eat money!

    • Pala

      That goofy looking Warren Buffet is A money eater

  • Liberty First

    Hard to say.

  • autofixer

    The good times are going to keep rolling until the Fed stops monetizing the debt and printing. Then it won’t matter anymore.

    • Mike Smithy

      Party on Wayne, party on Garth, excellent. QE4 is right around the corner.

      • XSANDIEGOCA

        Spot on!

  • safety

    i bet 10 bucks this bubble will implode in 4th quarter 2015. buckle up everyone!

    • XSANDIEGOCA

      I say the party goes on past the election.

    • ray

      I would only accept that bet if it was silver and gold because
      along with food and clothes it’s going to be the only thing
      that will have any value.

  • janef

    Year after year Michael cries wolf yet the collapse never happens. I am proud that Obama is my president! The reason why the employment to population ratio is low is because 10,000 baby boomers are retiring each day. Thus, 3,65 million baby boomers are retiring each year. This is not Obama’s fault.
    The unemployment rate is down to 5.7% Since March of 2014 America has added more than 200,000 each month. In November about 425,000 jobs were added. Also wages are starting to increase.
    Q3 GDP came in at a robust 5%. Due to inclement weather, GDP went down to 2.2% in Q4. However, 2.2% growth in Q4 is still much better than what we had during the Bush years. People forget that America was losing hundreds of thousands of jobs each month.
    Due to lower gas prices the average American family will save an amazing $750 dollars each year. Thus, more Americans can go on family getaways.
    The rise in healthcare costs has slowed dramatically. Also, the ACA is giving millions of Americans critical access to healthcare. According to a Princeton study, thousands of lives will be saved due to the ACA being implemented.
    The number of Americans receiving government benefits is down to 159 million. A few years back about 160 million Americans were receiving government benefits.
    America’s annual budget deficit has been reduced by about 60%.. The U.S debt clock website has done a fine job illustrating the stride’s America’s economy has made the past few years.
    More and more people believe that the economy is improving. I notice that Michael does more opinion articles. For example, is last article on year was about the internet. This makes believe that Michael is having a harder time finding negative data about the economy.
    Finally, I embrace technology. I want to be part of the wonderful technological matrix. I trust the U.S government and my great president! Hillary 2016!.

    • David

      You need serious help

      • BeenThere

        Or they are being tongue in cheek

      • jsmith

        Do you get the feeling Janef is a demopublican who listens to CNBC too much. I even voted for Obama in 2008, but quickly regained my sanity after his neocon appointments to his administration and cabinet. Funny how Janef hasn’t noticed that Obama is George Bush’s 3rd and fourth term.

        • alan

          LOL, I did the same thing. When he bailed out the bankers like Bush my heart sank and I never recovered.

        • Mike Smithy

          Actually no. I get the impression she is just a low information dumba$$ that is unable to think for herself and gets her news from PMSNBC/Daily Show.

        • Revolt to save America

          I listen to CNBC but it doesn’t make me retarded like Janef, I take bits and pieces of all news, the reality is I live in it. I see tenants who can’t pay I see friends who can’t get low paying jobs with big degrees. CNBC and Fox news and any news including these sites just help put the puzzle together. I think Janef can’t think for herself ! !

    • Mike Smithy

      You are misguided and misinformed on so many levels, it doesn’t dignify a response. How much is Media Matters paying you to sprew such nonsense.

    • Paul

      I am going to take the liberty to dismantle the main stream media drivel you just regurgitated.
      1. You say that due to low gas prices the average American family will save $750 dollars? What about the tens of thousands of hard working Americans that will lose their jobs because oil companies now longer find it profitable to initiate capital projects?
      2. Nice try on the 5% Q3 GDP. However most of that was due to Americans spending more on Obamacare. Also, military spending increased to combat ISIS in Iraq and Syria.
      3. The percent of Americans owning a home is at 20 year low.
      4. You cite the U.S debt clock as proof the U.S economy is improving??? You must have overlooked the $95 Trillion in unfunded liabilities, the 44 million American living in poverty, the fact the median income is only 28K, that almost 93 million Americans are not in the labor force, that American students owe over $1.3 Trillion in student loans, and that Americans have amassed $900 billion in credit card debt.
      5. Sorry part time service jobs are not good enough to make ends meet.
      Like Obama you are out of touch with the suffering of millions of Americans. You sheep think you are so smart because you can spew out manipulated government statistics.
      Believe me I can go on and on. “The shadow of crisis” for millions of Americans has definitely not passed.

      • jsmith

        You forgot to mention the 48 million people on food stamps!

      • Revolt to save America

        paul you are so CORRECT ! and the truth hurts, but it beats being delusional and living a lie. We are screwed no matter what formula you use. EXCEPT THE ONE THE POTUS puts out. WAKE UP FOLKS<

    • SouthernGentleman

      How much are they paying you to say all that?

    • Always Tomorrow

      I do not like Obama but the facts are the facts. Gold is down and stocks are up. There will be 1000 negative responses as to why but bottom line, gold is down and stocks are up.

      • Mike Smithy

        In both cases, it’s a direct result of artificial manipulation by the Fed.

        • Alwaystomorrow

          Yes you are correct. Problem is it will all probably end badly before 2075. But when? Save some, eliminate debt, plan and then LIVE.

    • JT

      I hardly know where to begin with such utter nonsense. I will simply say that I am shocked that there are still people like you who actually believe these numbers as being real. It is truly mind boggling. As for Obama, you can’t be serious? He is easily the worst president ever. He spits on the constitution virtually everyday and people like you are proud? Wow. Hardly know what to say to something so shameful.

      • rat28

        Sorry the worst president ever is Bush and Obama is the best for cleaning all the mess.

        Coming off arguably one of the most disastrous
        presidencies in our history, that of George W. Bush, who cut taxes yet involved us in two un-paid for wars, and crashed our economy and that of the rest of the world as a result, we found ourselves with our nation’ first black president.

        Not only did Barack H. Obama face the deeply
        entrenched racism of the nation that elected him, but a Republican Party determined to obstruct his every move, to make him a one term president
        and that term an utter failure. All the while, he had to face his real work, that for which he was elected: digging our nation out of the hole into which his predecessor had dragged us.

        And it was a deep hole. Hated by the world, our
        economy in shambles, two wars continuing and with no real end in sight, let alone any idea of what, exactly, would constitute victory, Barack Obama stepped up to the plate, and like Babe Ruth calling his shot, made his play. Like Ruth, he hit it out of the park. This is not hyperbole.
        The facts prove it.

        The wars are over, the economy is booming. Unemployment, like gas prices, are dropping and we have seen record levels of job growth. By any measure of success, including that of Republican candidates in 2012, his presidency has been a success. Even businesses and Wall Street agree that Republicans are killing the economy, and the evidence proves that the economy grows more under Democratic than Republican presidents.

        • Genada

          He has kept the scam going and deserves credit for that.

          The problem isn’t Democrats or Republicans. The problem is the system it’s self and that it doesn’t serve the majority of the people of this country.

          The rule of law died with both Bush and Obama. Those that committed high crimes were never brought to justice and in many cases rewarded. Many of those that caused the crisis in 2008 are still in place.

          The system is truly rigged and as long as people keep choosing sides and debating who’s side is better when both are the problem, our problems will only get worse.

          The problem is that no one will admit and no one will address is that we have reached the point of no return. That’s the point that no matter the cut backs, no matter the tax rate, you can not begin to pay back your debts. Default is the only solution at this point.

          For anyone that doubts that, please go visit the United States Treasury website. Look up the Clinton years. We were running a budget surplus but the debt still went UP. The reason it went up was that because even with that large surplus we could not pay off our debt servicing costs. Think about what we owed then and what we owe now and ask yourself how we could begin to pay it off.

          Fun fact last year’s deficit was about 700 billion but the national debt went up by 1.1 trillion.

          • Revolt to save America

            at this point in the game BOTH SIDES SUCK, and GOP is pissing me off the same, they stand down to Obama , no one has a spine anymore?? my father and great grandfather would never stand for this. have we became a nation of wussies :(

        • Jodie Lynn Gaeta

          The wars aren’t really over; American involvement has been reduced. The Afghans are still fighting the Taliban; and, with ISIS on the rampage, certainly it cannot be said that the war has ceased in Iraq. The game has changed, that’s all. I agree with your point that Obama came into office with some enormous challenges, but “deeply entrenched racism” was not one of them. Stop pretending that America is the same place that it was in 1960, and that if weren’t for anti-discrimination laws, we would immediately revert to segregated lunch counters and separate water fountains. We are past that, and we shall never return.

          • Mike Smithy

            Despite President Zero being awarded the Nobel Peace Prize, it would appear that the U.S. has committed to sending a Battalion from the 182nd Airborne into Ukraine by the end of next week. For additional details, check out the article posted on Zero Hedge yesterday. President Zero and the banksters are desperately seeking out a war to mask their failures on the economy.

        • afchief

          More proof that liberalism truly is a mental disorder!!!

          • Orange Jean

            I’ve notice more and more of these people are posting on this website… stuffed full of liberal beliefs and biases that are utter nonsense.

        • “Not only did Barack H. Obama face the deeply entrenched racism of the nation that elected him…”

          That statement makes no sense at all.

          If the racism was so deeply entrenched, then why did the nation elect him ?

          • Revolt to save America

            because we are full of immigrants that want free crap and in order to keep the bad guy in office he lets illegals do LEGAL things now. He lied his way into office IDIOT, he said he your health care. HE won on lies, all lies, and the USA being the melting pot they where happy to see diversity. SEE what that got us, we voted an AMERICAN HATER , ANTICHRIST IN, people who voted had a very low IQ from the looks of it, which brings up another issue. Make sure people that vote have a brain !

        • Gay Veteran

          wow, what kind of drugs are you on?

        • rentslave

          Obama is doing by a method that we used to call $%^&*( rich.

      • Revolt to save America

        JF lets hope Janef is a troll, it really looks like someone whos just backing numbers. I like watching how all of us are waking up though. I was so tempted to put my sticker on my car that says IMPEACH OBAMA but I think the creep wipes out anyone who speaks up, go read the ad on 40 banks dead in one month. If you speak up you get the bullet. I believe this is why the average American is hush, even people like beck and some on fox I consider brave. Obama will shut down and take out anyone who spreads the truth :(

        • Flippah

          BS

    • grumpyhillbilly

      Congrats Michael! You now merit a likely paid troll.

      • Mike Smithy

        This is nothing new for Michael. The Media Matters folks obviously consider the Economic Collapse Blog as a threat to their leftist agenda.

    • Bob332

      What Psycho Hospital were you released from?

      • Flippah

        Alton State

    • alan

      Paid troll easy to spot.
      I seen this on another similar site trying to discredit people for buying gold.

    • afchief

      The booming stock market? A creation of the fed and money printing totally divorced from the reality of the streets. An enormous price will ultimately have to be be paid by the US taxpayer for this fraud. Almost everything that comes out of this regime is a tissue of lies, calculated to hide their string of failures. We are reliving the USSR experience, 1950’s style where you only know the truth by reading between the lines.

      The low unemployment rate is meaningless as millions have dropped out of our economy, skewing the numbers. And no,these millions are not all retirees, they are able bodied Americans that should be working. Over 92 million out of the work force and not seeking work. Welfare, food stamps, workman’s compensation at all time highs. The Democrats at work.

      • Gay Veteran

        “…The Democrats at work.”

        you got it half right: The Democrats AND Republicans at work.

    • jox

      The fact that you need a troll to post this kind of (mis)information is a clear evidence that the reality is just the opposite.

    • Selaretus

      What type of sand is that you have to bury your head? Extra fine?

    • Sack man

      Right on janef.

    • J

      Two words….paid…troll

      • sharonsj

        You need to wake up to the fact that people who don’t agree with you are not paid trolls. Unfortunately nobody pays me to waste my time trying to explain facts to the average American. Most people get their info from corporate TV or conservative radio and don’t bother to find out if what they hear is true. Bush and Cheney were the worst, they lied us into war, committed torture, and cut taxes while spending us into debt. Obama is only marginally better. As long as the rich control politics, it won’t matter who is president; we’re still going to get screwed.

    • Mondobeyondo

      I hope that was sarcasm….

    • Pete

      “Hillary 2016!.”

      Birds of a feather flock together — and so do dingbats.

    • rentslave

      In 1968,you could quit a well paying job in the morning,then get a better paying job by the afternoon.I want that USA back.

    • Orange Jean

      You sound like one of those “cyber warriors” to me… paid to post a bunch of crap about how wonderful BHO is.

      But I ain’t buying the BS.

    • Revolt to save America

      you believe all you hear, you need to education yourself on the participation rate which is the worse in 37 years. when people stop looking for work because they have come to find there is none, they are not counted anymore. unemployment is between 15 and 20 percent REALITY ! do some research instead of believing POTUS

  • CharlesH

    What’s pathetic is that most Americans actually think that there is a correlation between the stock market and the economy.

    • GSOB

      Casino style, there is.

    • Paul

      Just like JaneF.

    • K2

      I dont think so.

    • MichaelfromTheEconomicCollapse

      Isn’t it sad?

      At this point there is not too much difference between Las Vegas and Wall Street.

      And in the end, their fates will be similar.

      Michael

      • John Byde

        Wrong, Michael. Las Vegas is more honest

  • Jim Clark

    The best time to buy stocks (low fee index funds) is a long time ago.
    The second best time is today.

  • Mad

    2015.75 is coming

  • jhowell882

    Micheal i know that this will pop but can you give us a ballpark idea of how bad? and will we wake up as a country and build something new or will we just go into the next bubble?

    • Alwaystomorrow

      While you are asking questions you might as well ask how high is high and how long must something be to be to long.

  • Genada

    It appears to be a bubble but at the same time it doesn’t appear nearly ready to pop. The stock market doesn’t reflect the economic picture anymore. It reflects access to cheap money. Lot of cheap money around and no where else to go for any sort of return other then the market. Credit is free, so buybacks will keep going. There’s nothing on the horizon to stop the buybacks out there.

    The real question is going to be how do you handle a new downturn with rates already at zero. A debt crisis can not really be solved with further debt. The last crisis was solved by putting the debts onto governments. When governments go under that means the people must suffer.

    The United States is in the same place as Greece. There’s no amount of cutbacks that can be made to begin to pay back our debts. Just as for them, the only choice is default. The longer you wait, the more you try to put that off, the longer the suffering will keep up and the longer you prevent yourself from starting the process of building a sustainable economy.

  • XSANDIEGOCA

    Bingo and let us not forget the headlong drive to allow Iran to get the Bomb! What can go wrong?

    • Gay Veteran

      Iran has been one year away from getting the bomb for the past 10 years

      • winrob

        Partly right, but recall the software sabotage and at least one highly destructive air attack by Israel. Those things dent anyone’s schedule!

        • Gay Veteran

          and it was just recently reported that Netanyahu lied at the UN about Iran and the bomb

  • jox

    In Spain the situation is exactly the same. The president Rajoy is very proud about the ‘recovery’ he has achieved, and the macro data assures there is GDP growth and job creation. Of course our index Ibex35 is growing quickly.

    But people in the street don’t any of this, and companies are fighting for survivance. In my opinion the financial bubble created by the FED has reached other countries such as Spain. And when things start going wrong, this money will flight out of the country at full speed, causing a crash.

  • XSANDIEGOCA

    The stock market booms for two reasons: QE and ZIRP. The Fed has deliberately created a situation where the only place to score any returns is the stock market. Fundamentals be da*ned, this is all hot money. Also massive precious metal futures manipulation. With all this hot money about the real price of Gold should be between 7-10K/oz. The price of gas has shot up a buck a gallon because of the threat to the massive derivative chains as has been pointed out by previous articles by Michael. That said, laissez les bon temps roulez and tend to your stops, buy portfolio insurance or….get out of the market entirely.

  • Horiboyable .

    I have started to stock my garage canned food in case the markets seize worse than last time. Enough for a couple of months.

  • MJ7780

    You pointed out that you get emails all the time from people who are out of work and can’t find anything. I am in a similar but different boat: I got a part time job at Walmart three years ago and in the meantime have been sending out resumes for everything I find that is in my regular area of expertise but I have gotten no offers. This country has gone crazy.

    • John Byde

      Good luck, MJ. It’s not a nice situation and I hope you find something soon. You are in our prayers!

  • Sack man

    Stock market has always made new highs after crashes. Why does market go higher ? Corporate profits of the great companies of the world always increase resulting in increasing dividends. The cycle has been going on for many years. Expect it to continue.

    • jox

      Companies are not making more profits. Read the article: “Last week, the cyclically-adjusted P/E of the S&P 500 Index surpassed 27, versus a historical norm of just 15″. That means that the price of the stocks is highly overvaluated in relation to the earnings. That is not a cycle, is a bubble.

  • Fireplace 1

    Regardless of what the domestic economy is doing right now, instability is occurring in Europe and the ME and is spreading to the third world. The d0llar is the only reserve currency, and there is nothing to replace it. This means that global capital is flowing into $-denominated assets in massive amounts. Therefore, U.S. stocks and bonds are still in an upward trend, and there is no end in sight.

  • Alan

    I heard yesterday that good accounting jobs in the Tampa area were being taken by Indian people and it was said, MANY, to the point that these companies are just not hiring Americans. The discussion suggested there might be a clause in the employment rules that allow these people to get hired thru a secondary employer to avoid the Affordable Care Act. Something to look into???

    • Mike Smithy

      Yes it’s true. There is a provision in the ACA that essentially exempts foreign workers from the ACA and thus creates a preferential category for employment.

  • DJohn1

    I look at the billionaires. They are betting short because? They are losing millions of dollars a day! Have been doing so for a long time now. That adds up to billions lost.
    We have a derivative market that when it crashes will bring the entire house of cards down with it.
    The banks around the entire world are going to fail big time.
    The problem is just like in the after world war I climate in Germany it is going to take everyone else with it.
    The only thing to do is to kick the can down the road so it effects someone else, not us. That I think is the philosophy of the leadership of countries around the world.
    Meantime, a whole lot of people are prepping.
    My own thought is no one is capable of prepping past about a year or so. The thieves are likely to confiscate any real prepping that one does anyway. I refer to our leaders.
    The only reality thing to do if you are going to lose everything one way or another, is to sit back and enjoy as much as you can.
    I have studied South Korea in the 60s when the currency went bust. The only real winners that I saw were people foresighted enough to own things that people had to have to survive.
    The winners were people that owned apartments outright.
    The winners were people that worked for us.
    The winners were people that took that money and bought commodity warehouses.
    The winners then sold the commodities in those warehouses to people that needed them to survive. Often on a barter basis.
    That will not work here because the government will step in by executive orders and ruin those people.
    The entire country is set up on rewards to people that are on the welfare system and cannot financially afford to get off it. That is thanks to a rule system that keeps people poverty stricken on paper.
    The entire poverty world is based on underground money that does not show up in the system.
    Everything is based on money. So now the government wants to put everyone on a credit system instead of money so they can control what these people make.
    Lots of luck with that.

  • AntonioOssa

    AMERICA IS IN THE TOILET AND READY TO BE FLUSHED!

  • goldminer

    The thing that I see about this stock market bubble is. In reality. The stock market has gone nowhere in the last 15 years. If you look at the S&P 500, Which are the bell weather stocks on the NYSE. Adjust them for inflation…. you know QE1 ..QE2 and so on and so on. The SP 500 has gone nowhere. If adjusted to year 2000 dollars. It has gained back to exactly the same place in 2000 dollars as when the dot com bubble popped in 1999.
    The dollar is worth around 30% less than it was back in 2000.
    This bubble is going to pop . Our stock market has nowhere to go but down. 30 to 50%
    Because of the continued warmongering policies of the Banana republic of America.
    China and Russia are standing shoulder to shoulder against the Dollar. The Largest economy in the world with the largest oil producer in the world against us. I follow the gold market. It is swinging from the west to the east. China may soon be fixing the price of gold to their favor.
    Things do not look good for the dollar. Better get prepared. Your paper will soon be worthless.

  • BJ

    Predicting when the crash will come is about like herding cats. If I were a betting man I would say September at the latest. God’s judgment is coming then.

  • Mondobeyondo

    It’s going to be just like 2008, with the party ending by everyone singing “Pop goes the weasel, er, bubble”

  • Elizabeth

    Starting to wake up!!! I have money invested in the stock market at this moment but thinking of pulling all out tom. Any opinions of where I should put it?? This is retirement money(I am in my 50″s) that I really do not need to lose, so getting very nervous. Any suggestions would be greatly appreciated!! Michael, your opinion also would be so much appreciated. Praying for peace of mind!!

    • goldminer

      Gold, silver, or if you want stocks, Miner stocks are really cheap now and IMO set to go up. The world has reached peak gold supply.. it is getting harder and harder to get it out of the ground. China is buying up every ounce mined.
      The world will turn its back on the worthless dollar and embrace currencys backed by gold. I believe this will happen this year. In Chinese astrology It is the year of the Sheep/Ram. With it comes financial change. China may see this is the most auspicious time to make its move against the dollar. All the bible thumpers here may Poo Pooh astrology. But I assure you China does not. China could destroy our markets by simply announcing they will pay 1500 dollars or the equivalent in Yuans per oz of gold. Russia could tell Europe they will not accept the USD as payment for their gas and oil. We want gold!
      These could be and will most likely be the results of our stupid meddling in affairs we have no place being in and our declaration of War against Russia. But Russia is not the backwards country it was back in the 1980s neither is China.
      The worlds economy is changing. don’t be left behind
      At Y2k gold was 275.00 per oz. Its worth 10 times that now. Since 2000 the stock market has gained nothing. Yes it is at record highs. But those are pumped up inflated dollars that are worth nothing.
      When adjusted for inflation. The stock market has gone nowhere for 15 years.
      But Gold has gone X10 in valueIf you want peace of mind buy a good safe hide it well, fill it with PMs and tell no one.

  • GetReal4U2

    Michael predicted the stock market “roller coaster”…it’s about to hit the fan…

  • sandbagger

    That people are borrowing massive amounts in order to buy stock goes to show many believe something has intrinsic worth if it’s expensive.

    Diamonds are among the most common gem, but a cartel has control of the price and has set it high to create the illusion of value.

  • mister_roboto

    I can’t really answer the question you pose at the end of your post. It just seems really bizarre to me how the Masters of the Universe have been able to just keep right on acting in defiance of all the laws of economic gravity.

  • Dave

    And of course these stock buyback/shrink the float programs are topping out from excessive debt generation companies are taking on and these programs have been the driving force in the rise of EPS. The stock market and the real economy no longer walk the same path and haven’t for quite some time for reasons many know but one item you won’t here much about is the fact that when the media rally around these “All Time Highs” you’ll rarely if ever here anything about inflation adjusted..for when you account for inflation they are no longer “All Time Highs”.

  • Mario Salvo

    There’s a time when the operation of the machine becomes so
    odious, makes you so sick at heart, that you can’t take part! You can’t even passively take part! And you’ve got to put your bodies upon the gears and upon the wheels…upon the levers, upon all the apparatus, and you’ve got to make it stop! And you’ve got to indicate to the people who run it, to the people who own it, that unless you’re free, the machine will be prevented from working at
    all!

  • Lars Frantzen

    How not to make money in the financial markets: read theeconomiccollapseblog and zerohedge. In the last 60 years there have always been prophets of doom. And of course eventually their right, because the financial markets move in cycles. The so called “prophets” have been warning the next collaps since 2009. And that’s 6 years ago!!

  • William Powe

    The event that will trigger the downturn is impossible to predict,
    now that Europe is printing money too this may go on for a bit longer, the average guy is still out of the market, I predict when
    whats left of the middle class gets into the market they will
    crash it again. Then I predict a right wing takeover of the white
    house and austerity and a depression. Have a nice day…

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