There are those of us who have been saying for years that the fundamentals of the economy are not sound, and that we are running on borrowed time. We have been met by derision by the establishment in government and the media.
They ask questions like, are you an economist, how do you know? You’re just rooting for failure, and other such phrases.
Well now, the financial media is starting to report that we are on an unstable cliff, that is about to crumble.
fter the stock market’s best year since 1997, warning flags are starting to go up on Wall Street where stock turbulence is on the rise and froth is being rubbed out.
This year’s first quarter, which ends Monday, isn’t nearly as bullish as last year, when the benchmark Standard and Poor’s 500 stock index soared 10% in the first three months of the year on its way to an eye-popping 29.6% gain.
Banks are now failing stress tests.
Are we headed for financial catastrophe?