Quote from tommo:
Looking around on these forums everybody is extremely negative. Whether its hyper-inflation, World War 3, the end of US and EU... i could go on.
Im not one to claim i know better, so i am assuming the economy really is in such a desperate position and its only a matter of time before the world comes to its senses and sell all US assets or Euro breaks up or countries default on sovereign debt etc
But the markets, on the whole, are quite content bobbing around up 4-5% here, down 4-5% there, companies are announcing profits, economic figures are turning up (slowly).
You cant possibly assume the enlightened crowd on ET are the only people the world who know how the world REALLY is. So where is the "inevitable" crash? What is the catalyst that will drive us into the next wave of financial meltdown? Because from what I see people have been talking about all these doomsday scenarios for the past two years and the stock market has been rising the whole time.
Shouting at the market for being wrong doesnt make you any money, the market is always right and at the moment the market says "recovery is here to stay". Maybe in 5 years time we will see a meltdown but are you going to stay on the sidelines/short the whole time? What is the realistic catalyst to bring the world to its senses?