I do want a big equity sell off. I want the whole rotten edifice to come crashing down and the asset bubbles to implode. It's going to happen at some stage, the longer we leave it the worse it gets. Suppressing the normal cycle just constipates the system with huge debt, zombie companies, malinvestment, inflation.....it's a mess. The system requires 'creative destruction' and short and sharp recessions - the kind we used to have that swept away bad businesses and reset asset prices. It's a cycle of renewal and was healthy. Now the system is put on central bank life support and can't function the way it should. So you get events like the GFC and the coming mega-crash.
I do want a big equity sell off. Human stupidity deserves it's pay off. All the ignorant sheep who gorged on cheap debt need their comeuppance. All the PhD's at the Fed need to govern their decisions is a sign of the wall: 'This Time Is Not Different'. That is all they need to know. When are we ever going to learn the lessons of history!?
