Wake up call arrives sooner than I thought: Dow down 300+ points today.

In this post I predicted that the markets would soon begin seeing large single day sell offs.  Oh how hysterically laughable it must have been to many people at that time.  The only problem is that I wasn't joking.



The new bear market is not confirmed yet but fear is mounting.  "Buy the dip" does not seem to be working very well these days.  In fact, I think it will not work for a long time.  This 300+ point sell off day was probably 3 of 3 of 1 .  Wait until we hit 3 of 3 of 3.  I think we will see at least one day where the Dow plummets a massive 10-15% in a single day.  This will be when the average guy on the street begins to believe what I have been saying all along: stocks are just another fiat currency and they have no value except that which the next greater fool attributes to it.  But young people have no money for stocks, their generation doesn't give two thoughts about the stock market.  And older people are going to pull their money out so they can live on it.  WHO THEN will be left to buy these useless pieces of paper?

It's coming folks.  Please try not to be the last one to "get it" or you will be left holding an empty bag.  The entire concept of the stock market is nothing but a con game and Wall Street is the casino operator.  If you want to save for retirement instead of gambling, buy gold and silver bullion coins.  They are the historical store of value in the world and they have never gone bankrupt. 

If all of this sounds like crazy talk to you while at the same time you might be suspecting that you are the patsy in this Vegas deal, please read all of the sections under my "Insight" tab.  You don't have to agree with everything but if you are smart you will at least consider the viewpoint of someone who has done a good deal of thinking about this stuff (5000-6000 hours at this point by my napkin estimation).  Good luck with whatever you decide but keep your eyes open as this plays out because it is not going to go easy on those who do not understand the nature of the con.