"There's a risk-off feel," Perkin says. "U.S. corrections are healthy. It's how you avoid bubbles by having speed bumps in the road. To say the U.S. market is overdue for a correction is maybe the understatement of the year. The free ride is over and fundamentals will matter more now that the Fed is printing less money."
Well, there it is. There are still some who don't want to know the truth. The shout: "LALALALA.....I can't hear you!!!" The Fed has created ficticious money, which the vampires and thieves have gorged themselves on.
I think that if there is a big enough "correction" you could see real panic. Here is the other little problem: we have between 40,000 to 50,000 people in this country retiring per week. Many of them are heavily reliant on stocks to keep their IRAs afloat.
If the damage is worldwide at some point in the future, and things are bad enough in the US, I can foresee a nationalization of retirement accounts.
People call me crazy, but I really do see that as a possibility. Obama's new "MYRA" program will result in more and more people claiming vestment in government guarantees to their retirement funds. People have already been burned again and again by shaky markets. Panic and Fear are their own great motivators.
It isn't all that crazy either. The Bible says there will eventually be a one world government and currency (who knows exactly when). A precursor of that could be on the horizon.