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The entire “recovery” story was total BS and that the Fed has made things worse than before. As always, stocks are the last to “get it.” But we wouldn’t be surprised to see a crash in stocks in the coming months.

This problem is north of $9 trillion… literally than the economies of Germany and Japan COMBINED. And it's bursting NOW.

 THE bubble, the biggest bubble in financial history: an incredible $100 trillion monster that is now growing by trillions of dollars every few months.

The 2008 Crisis was a stock and investment bank crisis. But it was not THE Crisis.

"Let me be clear, there is no Fed equity market put." Bells are ringing for stocks...

Today the Euro is on the cusp of breaking critical support. Draghi will likely see this as a success (he wants inflation). More likely, it will bring in another round of the EU Crisis (the same line was hit when Greece imploded in 2010 and when Spain imploded in 2012).

Stocks are not cheap. In fact, they've only been more overvalued ONCE in the last 100 years.

There is a saying that you don’t ring bells at the top. It’s not really true. Every time the market forms a major peak, at least in the last 15 years, there are usually a preponderance of signs of excessive speculation and leverage.

A few points the "stocks are cheap" crowd should consider.

You cannot have the market drop 7% and then rally an even larger 10% in less than month based solely on a single non-voting Fed President’s comments and NOT be in a bubble.

Remember, Oil is closely linked to the global economy. What does it say about the true state of affairs that oil is back at levels last seen in 2009-2010… while stocks are at new all time highs?

The vast majority of investors are ignoring a major warning that this bounce is not to be trusted.

The financial system is lurching towards the next round of the Great Crisis that began in 2007.

Imagine… if you could press a magic button… and your wealth expanded by hundreds of thousands…if not millions of Dollars.

It’s amazing to watch, particularly when you consider that it is now public information that Draghi actually didn’t have a plan when he first claimed this and is effectively making up policy on the fly.