Quote Originally Posted by midas360 View Post
Billionaires selling at an alarming rate.

There have been a number of similar stories over the last few years using Wiedemer as the backdrop. I've read his books. He is/was correct about his main assertions in his Bubble Economy book and he has some good points in Aftershock, but there's a lot of fear mongering in Aftershock. He presents worst-case scenarios and writers latch onto his scenario of a 90% correction. I think we're due for a nontrivial correction but we shouldn't underestimate the Fed. They've propped things up much longer than I thought possible. Eventually with the debt bubble and Wall Street corruption more pain will have to be swallowed, but I don't think it will be quite as bad as these articles would have you believe. I think the erosion of the middle class and disintegration of the family will have worse consequences for our American society as a whole.