A Stock Market Crash Is Coming and Everyone Knows It
Pretty much everyone agrees
You know the market is a fraud when share prices double or triple despite profits getting crushed by a global pandemic.
A crash is coming, it’s just a matter of when and how large.
- The Economist’s Intelligence Unit thinks a bubble burst is highly probable.
- Jon Wolfenbarger, of the Mises Institute, thinks this crash will be worse than 2008, dropping at least 60%.
- Michael Burry (of The Big Short fame) thinks we’re in a massive bubble and the looming crash will be the worst in history.
- Approximately 50% of Wall Street strategists think the S&P 500 will end the year below current levels. (Bank of America thinks -10%, Morgan Stanley thinks -20%.)
- Investor John Hussman (who predicted the dot-com bubble burst) thinks the market will crash 66%.
- Jeremy Grantham thinks we’re in a bubble the size of 2008 or 1929.
- The European Securities and Markets Authority thinks we’re in a bubble.
- Mega-criminal Warren Buffett thinks a crash is coming and has over $140 billion ready to deploy.
- The top 15 non-financial companies (including Apple, Alphabet/Google, Amazon, Microsoft, and Meta/Facebook) think a crash is coming and have stockpiled more than $1 trillion to go shopping when it does.
Here are five reasons why we’re in this bubble, and why it’s going to burst: