Duh!!! The market is grossly inflated. This is just a market correction. We know the economy has not been booming. Companies have not been spending, people have not been spending, they’ve been socking their money into the stock market. You can’t have the market valuations skyrocketing like they have in the past two years while business activity is nearly flat.
But but Obama said the economy is doing so well........
This is just the beginning of the slide into a deflationary depression. The whole globe is melting down and China is in for a hard landing. Its going be worse than 1932.
If you have not already read it go to David Stockman’s site and read his article from yesterday which tells you what is happening and going to happen. Then act accordingly.
You have defined a crash. This is an adjustment to crash levels.