Richard Russell – This Terrible Collapse Is Going To Accelerate
KingWorldNews.com
February 11, 2014
With continued chaos and uncertainty in global markets, today KWN is publishing an incredibly powerful piece that was written by a 60-year market veteran. The Godfather of newsletter writers, Richard Russell, is warning that this terrible collapse is going to accelerate to the downside.
Russell: “We have been living through the greatest boom in recorded history. It started after World War II. And I wonder what will follow? Could it be the greatest depression in history? Frankly, that’s one thought that worries me. I believe as our economy and the world economy sink, the Fed, under Janet Yellen, will fight the forces of deleveraging and deflation with all the weapons and ammunition in the Fed’s arsenal.
This action will serve to keep bullish sentiment alive for quite awhile, and it will set off many false starts and deceptive rallies in the major indices and averages. To put it mildly, this advance from the October, 2009 low will not die quickly and easily. As the huge top builds, public sentiment will change from extreme optimism to puzzlement and then to pessimism.
One of the characteristics of a bull market top is an almost total lack of bears. The latest CBOE put-call ratio shows the fewest puts in over 10 years. My old buddy, the late Joe Granville, described a set of new highs on the NYSE, which he called the peak of a bull market. So far new highs peaked with 536 on May 15, 2013.
The Rest…HERE
