New Doomsday poll: 98% risk of 2014 stock crash
Commentary: 10 bubbles blowing into biggest crash in 30 years
By Paul B. Farrell
June 29, 2013
SAN LUIS OBISPO, Calif. (MarketWatch) — Yes, 2014 is an absolute total disaster just waiting to ignite. In “Doomsday poll: 87% risk of stock crash by year-end” we analyzed 10 major crash warnings since early this year. Since then, more incoming bogies raced across our radar screen. Ticking time bombs from Congress, the Supreme Court, sex, carbon emissions, Big Oil, NSA, IRS, Tea Party austerity. Relentless. Mind-numbing.
So many are tuning out. Denial. Truth is, bubbles are everywhere. Ready to blow. The evidence is accelerating, with only one obvious conclusion: Max 98% risk at a flashpoint. This 2014 crash is virtually guaranteed. There’s but a narrow 2% chance of dodging this bullet.
Here are the 10 bogies, drones targeting markets, stocks, bonds and the, global economy:
1. Bubble With No Name Yet triggers the biggest crash in 30 years
All three of the big worldwide financial bubbles that have blow up in the last three decades have “been fueled by the Fed keeping policy rates below the nominal growth rate of the economy far too long,” says global strategist Kit Juckes of the French bank Societe Generale.
The three bubbles: The Asian Bubble in the early ‘90s, Dot-com Bubble of the late ‘90s and what Juckes calls the Great Big Credit Bubble that triggered the 2008 Wall Street meltdown.
Juckes warns that we’re now trapped in the fourth megabubble fueled by the Federal Reserve in the last 30 years, since the rise of conservative economics. He calls this one, the Bubble With No Name Yet. OK, we invite you to send in your nomination to name the new bubble. But whatever you call it, do it fast, it’s close to popping, like the Asian, Dot-com and Credit crashes the last 30 years.
2. Marc Faber’s Doomsday warning on Bernanke’s disastrous QE scheme