The Bear Case For A Significant Market Decline

Message:

The phrase that caught my eye was it is "different this time".

I've heard that one before. Famous last words.

Published on Zero Hedge (http://www.zerohedge.com)

Home > "From Self-Reinforcing Speculation To Fragile Instability"

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"From Self-Reinforcing Speculation To Fragile Instability"

By Tyler Durden

Created 02/16/2014 - 18:39

While the only fun-durr-mentals that matter appear to be global central bank liquidity injections (and thus the level of leverage entrusted to the JPY carry trade), the crowd is swayed by truthisms and "common knowledge" memes that recovery is here, that things are improving, that earnings are 'solid', that markets are still cheap, and that historical analogs are different this time. However, with monetary policy at a turning point, we also appear (fundamentally and technically) to be at "the inflection point from self-reinforcing speculation to fragile instability."

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Source URL: http://www.zerohedge.com/news/2014-02-16/self-reinforcing-speculation-fragile-instability