“A classic 1929-style [stock market] crash starts with a deep, fast decline. Then comes a recovery of about half the decline, which draws in ‘buy the dip’ investors, fresh meat for the monster ahead. It’s a quick gulp of fresh air before the real crash begins, the Big One, stair-stepping down for a couple of years until it bottoms at a small fraction of the peak, exhausted and depleted. While this probably isn’t the Big One, it could be the initial fracture, or it could be something like the -21% quick correction of 1987.
Will the Big One happen this year? My guess is yes. It’ll rival the Fall of Rome, the Destruction of Carthage, the Black Plague and Al Gore combined. When this huge bubble of insolvent malfeasance ruptures it will be an unstoppable, bloody carnage smashing everything in its path and the birds overhead” – Ol’ Remus, in his Yer Ol’ Woodpile Report blog