- Has the Great Crisis Finally Arrived?
by Graham Summers, http://gainspainscapital.com/ , 21 June 2013
The technical damage from yesterday’s bloodbath was severe.
Spain, which lead the “Europe is saved” party from the lows last year has just taken out its trendline. So much for the “crisis is over” proclamations. We’re heading back down in a big way.
- The S&P 500 has also taken out its trendline. QE Forever is dead and buried. What will hold the market up now?
- Copper is indicating that the entire post-2009 “recovery” is ending. We’re moving back into the 2008-collapse.
- Real estate is totally imploding. Yesterday’s drop saw a very nasty return to “reality.”
- This is just the start. I warned Private Wealth Advisory subscribers in our most recent issue that higher rates were coming noting a collapse in bonds in Europe and the emerging market space.
This could easily become truly catastrophic. The world is in a massive debt bubble and the Central banks are now officially losing control. The stage is now set for a collapse that could make 2008 look like a joke.