Even though we are repeating so many of the same patterns that we witnessed in 2000-2001 and 2007-2008, most people do not think that another financial crash is coming. In fact, with the stock market setting record high after record high lately, I have been taking quite a bit of criticism for my relentless warnings about the coming financial storm. Many of the comments go something like this: "Snyder you are a moron! Nothing you say ever comes true. The stock market is going to keep on rocking and Obama is going to lead this country back to greatness. I hope that you choke on all of your doom and gloom." Of course these critics never offer any hard evidence that I have been wrong about anything. They just assume that since the stock market has soared to unprecedented heights that all of us "bears" must have been wrong.
But the truth is that what we are observing right now is classic bubble behavior.