Funny how when land prices tanked the losers blamed Bush for cutting prices below 'true' value, but when stock prices tanked they called it a burst bubble. OK so folks are goofy with money talk; but when my feelings hurt from hearing all the 'stocks are bad' nonsense I just cry on my way to the bank.
"...it is going to resemble a complete collapse more than a correction..."
Doom'n'gloom sells, people just eat it up and rave about how smart the crybabies are. Somehow it never seems to matter that America has grown steadily for hundreds of years. The fact is that we got a big problem with opening our eyes to the fact that human economic activity's been growing since the Garden of Eden --most folks simply hate losses more than they like gains. I mean, if someone makes $100 in a day he's happy, but if he starts out making $1,000 and loses $800 he's furious even though he's cleared twice the profit.
There's a popular investing strategy of secretly betting heavy on growth while publically proclaiming that the end is nigh. That way when prices drop 20% we can say "I-told-you-so" and nobody remembers the previous year's doubling.
That’s why I read Zerohedge with a grain of salt. I seen something the other day that I believe said the S&P is up 170% over the last five years. A real Guru would have been advising to be in the market all that time and then tell you just before it crashed now is the time.