I'm sure many readers have been watching the record levels of the stock market. They're ridiculously high right now considering the underlying state of the economy. I think those who believe these levels can last are living in cloud cuckoo land, because they're bound to crash - probably sooner rather than later.
Peter Schiff thinks likewise. He's the analyst who correctly forecast the housing crash of 2007/08 and the subsequent economic malaise, and he sees a worse crash coming soon. Here's an interview he did with CNBC a few days ago, where he (correctly, in my opinion) explains why the stock market is running rampant, and how it's likely to end. (Hint: it involves tears.)
I can't argue with Mr. Schiff's analysis. Zero Hedge agrees, in its coverage of this interview. His views dovetail neatly with those of other authorities whom we've discussed in these pages on many occasions. I can only suggest that those who are over-exposed to stock market fluctuations should take precautions accordingly. Mr. Schiff was right in 2007/08, and I think he's right now too.