It’s Over

3 July, 2015–A global bear market of Grand Supercycle dimension is underway, accompanied by a deflationary depression that will destroy values in:

U.S. Stocks
European Nation Stocks
Asian Nation Stocks
Emerging Nation Stocks
Corporate Bonds
Municipal Bonds
Commercial Paper
Sovereign Debt
Commercial Real Estate
Residential Real Estate
Iron Ore
Scrap Metal
Almost any tradable asset

There is no reference point for the extent of the calamity ahead. Declines of 90% will occur in most of the markets listed above. Those who lived through the Great Depression of the 1930s will have gotten a taste, but only a mild one, of what is in store for investors. The standard response to these comments will be disbelief, a natural sentiment reflecting the complacency which always precedes financial crises.

The general rise in prices of the last few years is over. Some markets are already on their way to severe loss. All asset classes will join the rout shortly. The downside movement will be persistent, at times violent, for some time to come. The only asset that will hold up, and actually increase in value will be the U.S. Dollar, a universally hated holding.

I speak carefully. This is a time to pay attention.



No one should consider any part of this presentation as a recommendation to buy or sell any securities whatsoever.

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