I agree. In nearly 40 years of investing, I've never been as concerned as I am now that the Mother of All Crashes (sans, 1929) is likely just around the corner.
Go look at CAPE10. Second highest IN HISTORY. Stocks are hugely over-valued (as are bonds). Inflation is soaring. The Fed is in a trap with nowhere to go.
The likelihood this scenario ends well is not high.
It's all about "power" (the desire to control the future labor of others).
Economic crashes are not new - and they generally follow periods of "easy credit" (such as the "roaring 20's) - so that those in power can entice the lemmings to assume great amounts of debt.
Deflationary cycles are those times when the power mongers decide to "call in" the easy credit they've given out, knowing it will cause bankruptcy and they can steal the underlying assets to increase their wealth and gain even more power.
It's "deflationary", since the bankruptcies mean the "claims on future labor" behind the bankrupt debts will never occur - hence the money supply (piles of claims on future labor) goes down.
A deflating money supply means companies go out of business, existing debt becomes more expensive, and prices on goods and services go up (as business owners only have that option to try or it will be time to close their doors).
The power mongers have no desire for rampant inflation - which would make our existing debt much easier to pay off and give us a certain degree of financial freedom from it.
We are nothing but slaves to the power mongers, and they are the financial masters.
What (s)he said...