I've been deluged with emails from folks telling me that the top is in and everything is going to start plunging again. While I genuinely appreciate the heartfelt sentiments – – – I know they are from true believers, and I know they are offered to make me feel better – – the grotesque fact of the matter is that the U.S. Government, whose principal drivers are colluding directly with their Wall Street buddies, has mortgaged the future of the country in order to bail out the zillionaires in Manhattan. This sounds like aluminum-hat-wearing type drivel, and I'm sorry that it does, but I truly believe this to be the case. Were it not for all of Bernanke's meddling, the meltdown would have continued in all its full glory. As it is now, the day of reckoning has been simply delayed.
The reasons offered for the imminent plunge range from the technical (well-constructed charts) to, with all due respect to the cycle types out there, the kooky ("there's a full moon this weekend!") But everything – – from gold, to oil, to commodities, to the big indexes, continues to march higher. And they will continue to do so until they stop.
