Stock Market CRASH – The Delusion Before The Collapse

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Josh Sigurdson talks with author and economic analyst John Sneisen about a recent story out of CNBC reporting on a survey of CFOs which concludes that the Dow will fall another 2000 points before climbing above 27,000.
The claim is short-term bearish, sure. The stock market has wiped out all of its gains for the year. But the notion that the stock market is in no way bubbled and will indeed climb above 27,000 points is highly assumptive. The fundamentals are hardly there and we’ve seen every single tell-tale sign of a bubble.
Could it climb above 27,000? Of course! Without a doubt! But these investors are far too confident and it’s exactly what we’ve seen so many times before in history. The stock market was faltering in the second half of 1929. In September and even October 1929, many Wall Street bulls were still incredibly bullish. They were highly speculative like we are seeing in the markets today. Despite for the most part the fundamental values not reflecting the price, countless people still think we are going to see more all time highs before a crash.
Again, it’s very possible, but how are these same people trashing the incredibly innovative crypto markets? They think markets like Facebook, Twitter, Google, etc. are heading for the sky despite climbing 677% in 10 years while providing very little to boost confidence in the past 5, yet decentralized blockchain infrastructure is just in its infancy and THAT is the bubble that is going to zero? The notion is absolutely absurd.
As the Fed pumps money into the stock market (by printing it) one has got to realize that this cannot sustain much longer. All the fake derivatives and money eventually will come crumbling down. It should have a long time ago. There’s no putting a date on the crash still, but we know it will happen. So what should people truly have confidence in? Well, that comes down to history books and education and with that comes responsibility.

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