Financial analyst Rick Ackerman says the mother of all market meltdowns is a sure thing. It is just a question of when, and when it starts, it will simply implode at a stunning pace. Ackerman explains, “We’re in a situation now where any day something can happen. I think that the black swan will be something like the stock market starting down for no apparent reason. That in itself would trigger the implosion, and I think the only thing that is propping up the markets now is the mentality of . . . how bad can things be if the stock market is trading within shooting distant of all-time highs? I think the stock market is the main buttress of this enormous hoax that has been going on with easing (QE or money printing).”
Ackerman says when the end game finally crescendos, it will be stunning and quick. Ackerman contends, “It will be literally overnight. There are investors who say I’m smart and I’m nimble, and I’ll be out of this at the first sign of trouble. I think the first sign of trouble will be a little bit too late. You will wake up one morning, and something will have happened in the Asian markets that cause the U.S. markets to open way below their circuit breakers or threaten to break the dam. It could all happen overnight, and I think it will. It’s the nature of the markets.”
Ackerman says everything will shut down or be wiped out when the next crash explodes. Things like banks, brokerages and pensions can and will all go poof in a cloud of smoke. Ackerman goes on to say, “I don’t think anything will be left standing in the smoldering ruins. It’s very hard to imagine, but it is really going to be a complete disaster that is commensurate with the scope and scale of the lies we have been telling ourselves for so long. There are people who say you Chicken Little, doomsday, sky-is-falling guys almost seem to want the system to implode. I think the only way we get back to honest business is for a collapse to wipe away all the lies.”
Continue reading “Financial Collapse to Wipe Away All the Lies”
