As published at Glenn Beck’s site TheBlaze:
By Wayne Allyn Root
Is everyone asleep at switch? Stuck in La La Land? Delusional and detached just like our president? Whistling past the graveyard? Because a combination of my crystal ball and just a little common sense says a major stock market correction is in our future.
Does anyone on Wall Street read the news?
Security experts warn a terrorist attack on America soil appears imminent. Only days ago, the federal government agreed. http://www.nationalreview.com/corner/386694/judicial-watch-feds-bulletin-describes-threat-imminent-terrorist-attack-southern
Yet the stock market sits at all-time highs.
Where would the terrorists come from? Our Southern border with Mexico is wide open for anyone to walk across. Our border is under siege. Obama has no strategy to stop or even slow the invasion of America by desperate poor masses expecting billions of dollars in welfare from cradle to grave. Just the cost of educating the new illegal children in this school year is over $700 million. http://www.foxnews.com/politics/2014/09/02/cost-educating-new-class-illegal-immigrant-minors-estimated-at-over-760m/
America is already bankrupt and almost $18 trillion in debt. Where will the money come from?
Yet the stock market sits at all-time highs.
But our unsecured Southern border with Mexico could bring more than terrorism. Ebola is spiraling out of control. http://atlanta.cbslocal.com/2014/09/02/cdc-director-ebola-outbreak-is-spiraling-out-of-control/
World health experts are quietly preparing for an Ebola pandemic infecting as many as 100,000. If it reaches America’s shores the resulting panic could overwhelm the healthcare system, shutdown commerce, close schools and result in transportation and supply interruptions. All it takes is one infected illegal immigrant crossing into America, after exposing hundreds of others in cramped unsanitary conditions during the border crossing.
Yet the stock market sits at all-time highs.
The situation in Ukraine just got much worse. There are over 20,000 Russian troops at border. NATO just proved with satellite imagery that Russia has physically entered Ukraine. The invasion has begun- a worst case scenario.
Yet the stock market sits at all-time highs.
EU leaders and military experts are publicly warning this could be headed for WWIII.
Yet the stock market sits at all-time highs.
The war between Israel and Hamas in Gaza may have been just a precursor of things to come. It too could lead to World War III.
Yet the stock market sits at all-time highs.
Yet all of these threats pale compared to ISIS. ISIS is the game-changer. ISIS is perhaps the biggest threat America has faced since Nazi Germany. And our president admits he has no strategy to combat this threat to our very existence. http://www.washingtontimes.com/news/2014/aug/28/obama-admits-isil-dilemma-we-dont-have-strategy-ye/
Yet the stock market sits at all-time highs.
Then there’s the economy. Taxes are so high that companies are running away from America. Take just the latest example, Burger King. http://www.breitbart.com/Big-Government/2014/08/26/Buffett-to-help-finance-Burger-King-deal–report
My CEO friends tell me virtually every billion-dollar company in America is plotting and planning the same escape. It’s a “jail break.” Everyone in corporate America wants out of Obama’s America.
So do thousands, or perhaps soon tens of thousands, of high-income individuals. Last year an all-time record 3000 Americans renounced their citizenship. As more corporations and wealthy citizens run for the door, who will be left to pay America’s taxes?http://money.cnn.com/2014/02/17/pf/taxes/citizenship-taxes/
Yet the stock market sits at all-time highs.
Who will be left to pay our enormous world-record setting debt? The federal debt is up an unimaginable $7 trillion since Obama took office.
http://www.cnsnews.com/news/article/terence-p-jeffrey/706025967449751-federal-debt-7t-under-obama
A staggering one third of America is now on welfare. http://www.foxnews.com/politics/2014/08/29/census-figures-show-more-than-one-third-americans-receiving-welfare-benefits/
Yet the stock market sits at all-time highs.
Where will anyone on welfare find work? 92 million working-age Americans are not in the workforce.
http://www.cnsnews.com/news/article/ali-meyer/record-number-americans-not-labor-force-june
Since Obama became President over 11 million working-age Americans have left the workforce.
20% of U.S. families don’t have a single member who is employed.
Yet the stock market sits at all-time highs.
And the citizens who actually still have a job- ie the consumers who buy the products sold by publicly traded companies on Wall Street- aren’t faring too well either.
U.S. jobs pay 23% less than in 2008. That’s an average of $47,000 versus $61,000. That’s $93 billion in lost wages.
http://www.breitbart.com/Big-Government/2014/08/11/U-S-Wages-Down-23-Since-2008
The net assets of the average American household are down by one third since 2003…and almost half since 2007.
http://www.nytimes.com/2014/07/27/business/the-typical-household-now-worth-a-third-less.html?_r=0
Small business is in crisis. For the first time in America’s history, more businesses fail each day than startup.
Yet the stock market sits at all-time highs.
There is no recovery. That’s just government propaganda. Home sales just plunged for the 10th month in a row.
http://www.zerohedge.com/news/2014-08-28/pending-home-sales-drop-yoy-10th-month-row
Retail sales are stuck in quicksand.
Obamacare has caused health insurance premiums to rise more since it started than in the eight previous years COMBINED.
http://dailycaller.com/2014/03/18/report-premiums-rising-faster-than-eight-years-before-obamacare-combined
As a result of all this terrible news, should it come as a surprise that consumers are in a foul mood? The latest polls show that Americans are “unhappy, worried and pessimistic.” That’s a bad combination. http://personalliberty.com/pessimism-rocks-americas-post-recession-workplace
Yet the stock market sits at all-time highs.
In the face of all of this, stock prices continue to rise to all-time heights, all based on one thing- the Fed being forced to keep printing fake money so Wall Street and stock investors can get rich on the misery of the rest of us.
Trusted economic guru Robert Schiler’s price-earnings ratio (CAPE) is now at 26.5. That’s the 4th highest ratio since 1881. Throughout history when stocks hit a ratio this high, the result is a 30% (or higher) drop.
Add it up. Delusion abounds. Investors are ignoring history. Danger signals are flashing like never before. America is in severe trouble. The middle class (i.e. consumers) is in shambles. But the stock market keeps just keeps rising to the heavens.
We’ve all seen this story before. It never ends well. The stock market crash of 1929. The Great Depression. The Great Tulip Bubble. Common sense tells me that this time isn’t different.
My gut instincts are at “Defcon Level.” I suspect we are one “Black Swan” event away from either a devastating stock market crash, or a long-term deep decline. I don’t know when it will come. No one can predict that. But history says…Prepare.
Because it’s coming.
