Meanwhile, U.S. crude oil stocks have been hovering near a 25-year low, with gasoline reserves the lowest they've been in 15 years. Thus, any type of disruption among major OPEC or non-OPEC producing nations, such as war, could lead to an oil spike which would be devastating for the economy. This is a clear indication that the U.S. stock market has turned into a speculative leveraged gambling casino. I'm amazed in conversations that I have had with professionals in Austin at how many of them have told me that their friends have given up their jobs to become day traders. This is a sign of the times, of a bubble, a mania, and a sign of an approaching end.
Day trading is a non-productive economic activity.
It adds no new goods or services to the economy. The slowing of M3 growth, and the Fed's war against the stock market by way of raising U.S. interest rates, means the stock market bubble cannot long be sustained. Yes, the Titanic sinks slowly at first, but then toward the end, very, very quickly. The U.S. markets and financial and economic system are taking on water. The Reaper is intended solely for the use of its subscribers, knowledgeable, sophisticated and well-informed investors and speculators, who are aware of the inevitable mistakes, errors in judgment, fallibility, and risks inherent in forecasting and investing.