Finally, I've admitted it to myself. I'm afraid we're in a primary bear market in the economy and the stock market. I believe it's going to be an absolute “brute.” And I'm afraid of what might lie ahead.
And the worst of it is that we're being deliberately lied to by the Fed and by our government. The markets (which normally tell us the truth) are being controlled and manipulated by the government and the Federal Reserve.
Ben Bernanke is reputed to be an “expert” on the Great Depression of the 1930s. I don't know about his expertise regarding the Depression, but I'm damn sure Bernanke doesn't understand markets.
I've asked myself why Bernanke got himself into this predicament? I believe his problem is that he studied the Great Depression strictly from the standpoint of economics and the Fed's role in the Depression. But Bernanke never studied nor understood the role of the stock market during the 1930s.
I had the fortunate experience of studying the events of the 1930s under the tutelage of the great Dow Theory genius, E. George Schaefer. George understood the power and essence of the primary trend more thoroughly than any analyst I have ever known. I consider a thorough knowledge and understanding of the primary trend the single most important and least understood area of stock market analysis.
I sincerely doubt whether Yellen will realize that we are now in a resumption of the primary bear market that started in 2000. I liken the whole current picture to a ship that has sprung a terrible leak and the captain is waving an empty bottle while singing, “Happy days are here again.”