Is The Market Oversold or Overbought? Let’s Take A Look

The stock market is in far worse shape than we are being told.  As you will see in this article, the average U.S. stock is already down more than 20 percent from the peak of the market.  But of course the major indexes are not down nearly that much.  As the week begins, the S&P 500 is down 9.8 percent from its 2015 peak, the Dow Jones Industrial Average is down 10.7 percent from its 2015 peak, and the Nasdaq is down 11.0 percent from its 2015 peak.  So if you only look at those indexes, you would think that we are only about halfway to bear market territory.  Unfortunately, a few high flying stocks such as Facebook, Amazon, Netflix and Google have been masking a much deeper decline for the rest of the market.  When the market closed on Friday, 229 of the stocks on the S&P 500 were down at least 20 percent from their 52 week highs, and when you look at indexes that are even broader things are even worse.

For example, let’s take a look at the Standard & Poor’s 1500 index.  According to the Bespoke Investment Group, the average stock on that index is down a staggering 26.9 percent from the peak of the market…

Indeed, the Standard & Poor’s 1500 index – a broad basket of large, mid and small company stocks – shows that the average stock’s distance from its 52-week high is 26.9%, according to stats compiled by Bespoke Investment Group through Friday’s close.

“That’s bear market territory!” says Paul Hickey, co-founder of Bespoke Investment Group, the firm that provided USA TODAY with the gloomy price data.

So if the average stock has fallen 26.9 percent, what kind of market are we in?

To me, that is definitely bear market territory.

The rapid decline of the markets last week got the attention of the entire world, but of course this current financial crisis did not begin last week.  These stocks have been falling since the middle part of last year.  And what Bespoke Investment Group discovered is that small cap stocks have been hurt the most by this current downturn

Here’s a statistical damage assessment, provided by Bespoke Investment Group, of the pain being felt by the average U.S. stock in the S&P 1500 index:

* Large-company stocks in the S&P 500 index are down 22.6%, on average, from peaks hit in the past 12 months.

* Mid-sized stocks in the S&P 400 index are sporting anaverage decline of 26.5% since hitting 52-week highs.

* Small stocks in the S&P 600 index are the farthest distance away from their recent peaks. The average small-cap name is30.7% below its high in the past year.

After looking at those numbers, is there anyone out there that still wants to try to claim that “nothing is happening”?

Over the past six months or so, the sector that has been hit the hardest has been energy.  According to CNN, the average energy stock has now fallen 52 percent…

And then there’s energy. The dramatic decline in crude oil prices rocked the energy space. The average energy stock is now down a whopping 52% from its 52-week high, according to Bespoke. The only thing worse than that is small-cap energy, which is down 61%.

If you go up to an energy executive and try to tell him that “nothing is happening”, you might just get punched in the face.

And it is very important to keep in mind that stocks still have a tremendous distance to fall.  They are still massively overvalued by historical standards, and this is something that I have covered repeatedly on my website in recent months.

So how far could they ultimately fall?

Well, Dr. John Hussman is convinced that we could eventually see total losses in the 40 to 55 percent range…

I remain convinced that the U.S. financial markets, particularly equities and low-grade debt, are in a late-stage top formation of the third speculative bubble in 15 years.

On the basis of the valuation measures most strongly correlated with subsequent market returns (and that havefully retained that correlation even across recent market cycles), current extremes imply 40-55% market losses over the completion of the current market cycle, with zero nominal and negative real total returns for the S&P 500 on a 10-to-12-year horizon.

These are not worst-case scenarios, but run-of-the-mill expectations.

If the market does fall about 40 percent, that will just bring us into the range of what is considered to be historically “normal”.  If some sort of major disaster or emergency were to strike, that could potentially push the market down much, much farther.

And with each passing day, we get even more numbers which seem to indicate that we are entering a very, very deep global recession.

For instance, global trade numbers are absolutely collapsing.  This is a point that Raoul Pal hammered home during an interview with CNBC just the other day…

Looking at International Monetary Fund data, “the year-over-year change in global exports is at the second lowest level since 1958,” Raoul Pal, Publisher of the Global Macro Investor told CNBC’s”Fast Money”this week.

Basically, it means economies around the world are shipping their goods at near historically low levels. “Something massive is going on in the global economy and people are missing it,” Pal added.

The steep decline in 2015 exports is second only to 2009, when the global recession led to a 37 percent drop in export growth.

We have never seen global exports collapse this much outside of a recession.

Clearly we are witnessing a tremendous shift, and it boggles my mind that more people cannot see it.

As for this current wave of financial turmoil, it is hard to say how long it will last.  As I write this article, markets all over the Middle East are imploding, stocks in Asia are going crazy, currencies are crashing, and carry trades are being unwound at a staggering pace.  But at some point we should expect the level of panic to subside a bit.

If things do temporarily calm down, don’t let that fool you.  Global financial markets have not been this fragile since 2008.  Any sort of a trigger event is going to cause stocks all over the world to slide even more.

And let us not minimize the damage that has already been done one bit.  As you just read, the average stock on the Standard & Poor’s 1500 index is already down26.9 percent.  The financial crisis that erupted during the second half of 2015 has already resulted in trillions of dollars of wealth being wiped out.

When people ask me when the “next financial crisis” is coming, I have a very simple answer for them.

The next financial crisis is not coming.

The next financial crisis is already here.

An angry bear has been released after nearly seven years in hibernation, and the entire world is going to be absolutely shocked by what happens next.

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About the Author: The Economic Collapse Blog

  • JohnDille

    GEE… THE GOOD OLD DAYS OF CONSERVATIVE CONTROL OVER SOCIETY, AND THE SLAVERY AND POVERTY IT GENERATED, SEEM SO RECENT… LIKE IT WAS ONLY YESTERDAY!!! HEY… ITY WAS ONLY YESTERDAY… SLAVERY THEN HAS EVOLVED INTO THE KINDS OF CORPORATE SLAVERY THAT WE SEE ALL OVER THE WORLD IN OUR DAY!!! TOO BAD WORKING CLASS REPUBLICANS AND OTHER BRAINLESS PUPPETS ARE NOT SMART ENOUGH TO SEE THAT FOR THEMSELVES!!!

  • The Observer

    FYI, it’s not 160 years ago.

  • JohnDille

    BELIEVE IT ORN, THE FORBES 400 RICHEST PEOPLE IN THE WORLD 160 YEARS AGO, WOULD HAVE INCLUDED MANY DOZENS… MAYBE OVER A HUNDRED, AMERICAN SLAVE OWNERS. I READ THAT SOMEWHERE LAST YEAR, AND SINCE I KNOW A LOT ABOUT THE SLAVE INDUSTRY OF YESTERYEAR, I COULD SEE WHY THE WRITER MIGHT SAY SUCH A THING…. OWNING SLAVES WAS VERY VERY PROFITABLE… AND BUYING AND SELLING SLAVES… AND THE WIVES AND CHILDREN OF SLAVES… WAS FAR MORE PROFITABLE STILL. SO… YOUR CURRENT ADMIRATION OF THE MODERN CAPITALIST SYSTEM WOULD SURELY HAVE BEEN THE EQUIVALENT OF A DEEP ADMIRATION FOR AMERICAN STYLE SLAVERY NOT MUCH MORE THAN A 150 YEARS AGO!!! AND OF EUROPEAN COLONIALISM FOR MOST THE THE LAST 500 YEARS! MORAL PEOPLE AND THINKING PEOPLE WOULD NOT HAVE SHARED YOUR ADMIRATIONS!!!

  • Joe Cabot

    This system has allowed for the creation of more wealth than any economic system ever devised, and this wealth is not limited to the chosen few. Even hypocrites such as yourself have joined the party.

  • JohnDille

    ITS FUN WATCHING YOU DEFEND AN ETHICALLY CHALLENGED SYSTEM…. EITHER BECAUSE YOU MAKE SO MUCH FROM IT… OR BECAUSE YOU ARE A BRAIN WASHED PUPPET WHO LIKES TO BROWN NOSE YOUR WEALTHY MASTERS!!! YOU DO NOT SEEM TO NOTICE THAT I RIDICULE THE MONEY I MAKE FROM TRADING STOCKS AND OPTIONS… BECAUSE I KNOW IT IS THE PRACTICE OF PARASITES TO MAKE MONEY THAT WAY. BUT… IN OUR SOCIETY, YOU NEED TO BE A PARASITE IF YOU DO NOT WANT TO LIVE IN POVERTY, I GUESS! IT SEEMS TO HAVE WORKED FOR YOU VERY WELL… FOR MOST OF YOUR LIFE… JUST AS IT HAS FINALLY… FINALY… WORKED FOR ME IN MY TWILIGHT YEARS!

  • Joe Cabot

    It’s fun to watch you demonize capitalism even as you admit to enjoying it’s benefits. You constantly yell and scream at me, accusing me of running a scam business and stealing from my clients even though you have absolutely no idea what I do for a living. Now you call the financial system a scam while extolling it’s benefits and yapping about the profits that you take from it. Your hypocrisy knows no ends – it is no wonder why you admire so many politicians.

  • JohnDille

    YOU REPUBLICANS KEEP INSISTING THAT ANYONE WHO WORKS HARD AND USES THEIR BRAINS CAN GET AHEAD IN THIS COUNTRY…. BUT THEN YOU INSIST THAT JUST BECAUSE I HAD TO STRUGGLE 10 AND 20 AND 30 AND 40 YEARS AGO, I MUST STILL LIVE IN POVERTY, TODAY! SOUNDS LIKE YOU REPUBLICANS CAN’T KEEP YOUR LIES STRAIGHT! FOR MY PART… I REALIZED A LONG LONG TIME AGO… MORE THAN 50 YEARS AGO, IN, FACT, WHAT A SCAM THIS NATIONS FINANCIAL MARKETS ARE… AND I TRIED AND TRIED AND TRIED TO GET IN ON THE WINNING SIDE OF THAT SCAM. I FINALLY MANAGED TO SCRAPE TOGETHER ENOUGH CASH TO BECOME A SMALL TIME INVESTOR… AND I WAS RIGHT… THE US FINANCIAL SYSTEM IS A TOTAL SCAM…. IT MILKS HUNDREDS OF BILLIONS OF DOLLARS OUT OF THE POCKETS OF WORKING PEOPLE EVERY YEAR… AND PUTS INTO THE POCKETS OF THE RICH. BUT… I FINALLY MANAGED TO GET MYSELF INTO A POSITION WHERE I CAN SKIM OFF A LITTLE BIT OF THAT… AND NOW… THE MONEY THAT GOES OUT OF MY POCKETS TO MY EMPLOYERS… IN THE FORM OF LOW WAGES THAT THEY PAY TO PEOPLE LIKE ME, AND TO THE COMPANIES I HAVE TO DO BUSINESS WITH… IN THE FORM OF HIGHER THAN NECESSARY PRICES AND FEES AND OTHER SUCH COSTS… NOW COMES BACK TO ME IN THE FORM OF STOCK APPRECIATION AND DIVIDENDS AND OPTIONS INCOME. I AT LEAST BREAK EVEN NOW… INSTEAD OF HAVING TO ALLOW RICH FOLKS TO PICK MY POCKETS OF THOUSANDS OF DOLLARS EVERY YEAR, AND GET NOTHING IN RETURN! BUT YOU SOUND JEALOUS OF MY MEAGER SUCCESSES… I GUESS YOU ARE STILL ON THE LOSING SIDE OF THAT WHOLE SYSTEM… LIKE MOST BRAINLESS WORKING CLASS REPUBLICANS ARE!!!

  • The Observer

    One of the benefits of your capitalized babbling is the humor you show when you talk about when you will be getting back into this or that market. You have spent years here moaning about how you don’t have a pot in which to urinate yet you dispense home grown investment advice as if we are all going to pile on your bandwagon and head for millionaire acres.

  • JohnDille

    I THINK… ONCE UPON A TIME… THAT YOU NOTED THAT YOU LIVE IN CANADA. WELL… MAYBE YOU LIVE UP IN THE FAR NORTH OF CANADA AND DO NOT GET MUCH NEWS FROM DOWN HERE IN THE USA… BECAUSE IF YOU DID GET ANY NEWS… HONEST NEWS… YOU WOULD DISCOVER THAT REPUBLICANS HAVE BLOCKED ALMOST EVERYTHING THAT OBAMA HAS TRIED TO GET DOWN FOR THE LAST 7 YEARS… AND I MEAN EVERY DANG THING! OBAMA GOT OBAMACARE PASSED… GHT??? NO… OBAA AND THE DEMOCRATS HAD TO SETTLE FOR THE REPUBLICAN VERSION OF OBAMACARE… WHICH WAS REALLY WATERED DOWN AND FULL OF CORPORATE GIVE AWAYS… BECAUSE THE ALTERNATIVE WAS TO JUST DO NOTHING ON HEALTH CARE, AND LET THE EXISTING SYSTEM CONTINUE TO GET EVER MORE EXPENSIVE AND TO FALL APART! SO.. REPUBLICANS ALLOWED THEIR VERSION OF OBAMACARE TO PASS… KNOWING FULL WEL THAT IT WOULD MAKE THOUSANDS OF RICH REPUBLICANS REALLY ANGRY… BECAUSE THEY ARE THE ONES WHO HAVE TO PAY MOST OF THE COSTS OF OBAMACARE… AND THOSE THOSUANDS OF RICH REPUBLICANS WOULD STIR UP MILLIONS OF ORDINARY BRAIN WAHSED REPUBLICANS AGAINST A PLAN… THAT WOULD HAVE HELPED THEM A LOT… IF RICH REPUBLICANS AND THEIR CONGRESSIONAL PROSTITUTES HAD NOT SABOTAGED THE WHOLE PLAN!!! OTHER THAN OBAMACARE, REPUBLIVANS HAVE NOT ALLOWED OBAMA TO DO MUCH OF ANYTHING…. JUST TODAY… SOME APPOINTED OFFICIAL FINALLY GOT CONFIRMATION VOTE… AFTER 400 DAYS OF OBAMA TRYING TO GET THE GUY CONFIRMED!!! REPUIBLICVANS HAVE BLOCKED THOUSANDS OF LOWER LEVEL AND HUNDREDS OF HIGHER LEVERL APPOINMENTS OVER THE PAST 7 YEARS…. AND YET REPUBLICANS CALL OBAMA A DICTATOR??? WHAT LITTLE OBAMA HAS CRAMMED THROUGH CONGRESS BY PRESIENTIAL DECREE HAS BEEN DONE… BECAUSE THAT HAS BEEN PRETTY MUCH THE ONLY WAY HE CAN GET ANYTHING… AND I MEAN ANYTHING… DONE!!! A HOLE REPUBLICAN FASCISTS!!!

  • JohnDille

    YEAH… TRUMP WOULD FIX EVERYTHING… AT THE POINT OF BAYONETS, AND WITH BARB WIRE CONCENTRATION CAMPS FOR ANYONE WHO OPPOSES HIM IN ANY WAY!!! TRUMPS MOTTO WILL BECOME….YOU BETTER DO WHAT I SAY… OR WE WILL LOCK YOU DANG LIBERALS UP!!! GAS IS CHEAP… AND WE WILL USE LOTS OF IT ON YOU LIBERALS!!!

  • Mark65

    Dear Mike,
    You and Dille are the typical liberal progressive socialists that blame Republicans for everything and yell the sky is falling because of the Republicans. Then again you may be Dille and Dille may be YOU. It would not surprise me that you are the same person because you both are form liberal loony land. If you understand history many of these problems started back in the 60s during Dille’s hay day when LBJ created your wonderful great society programs and its been down hill ever since. Dems like you tax and spend while running up deficits. Obama has failed in five categories which include domestic econ, global econ, foreign policy, national security, and immigration. Just remember that your boy Barney Frank pushed Freddie and Fannie which collapsed and caused the housing collapse in 2008. Dems love to subsidize everything an embrace Keynesian economics only to create huge bubbles and then blame the Republicans. Typical left wing loony bird. One question for you…..Who do you have hanging from your living room wall? Marx or Mao? Who is your idol? Marx Mao, or Lenin?????? Hummmmmm
    Yours in capitalism,
    M

  • Mike

    The Republicans have given Obama NOTHING and Nancy Pelosi NEVER said that. If anything they have fought him nearly every step of the way….. All they favored was saving the Big Banks and Brokers (the 3%) that funded their campaigns. Yet, when it came to backing a Public Works WPA/CCC style program to help the 97% (Main Street) they were ALL against it….. Let there be NO DOUBT that the allegiances of the GOP are with ONLY the 3%!… 🙁

  • Eileen

    The Republicans have given Obama everything he wanted and then some … A dream come true – Nancy Pelosi. So while you rant and rave at the Do nothing, Know nothing Republicans, Nancy Pelosi praises them for giving Obama everything he wanted. Better go back and read your one sided news articles.

  • Mike

    Never has there been a Stock Market Crash and Depression start during the administration of a Progressive Liberal….. They have ALL happened during the watch of Conservatives. Trump will NEVER be the Republican candidate for President as he is too much of a really poor businessman…. If he had just taken the money his Father left him and put it into an S&P fund, he would have far more than he has now…. Check it out if you want to know the TRUTH!…. 🙁

  • Sugmag

    And what would you say if the market drops 60% as Obama is walking out the door when he goes. Just might happen smarty pants. TRUMP will fix everything. so don’t worry. The manchurian charlatan will be gone and so will obumacare which is just fortified medicaid for the poor and crap for the rest of us.

  • Mike

    Dear Mark 65 (GOP Quisling)
    Do you live on earth? You seem to have NO idea what you are talking about….. Cheney/bush lost 60% of the market during their destructive administration….. Obama stopped the CRASH (just like FDR) and brought the markets up 174% as of today….. And Obamacare (exactly the same as Romney-care) has gotten health insurance for millions and prices of medical care have stayed stable and in some cases, gone down….. And you say he has done nothing? Typical verbiage on the GOP comment cards for paid Quislings….. 🙁

  • Mike

    Oh John.
    Just listen to them, saying the same things as hundreds of others that have sold their souls and gone to work for the GOP

  • JohnDille

    ROCKET SCIENCE IS NOT ONE OF MY SKILLS… BUT POLITICAL SCIENCE AND ECONOMICS ARE!!! AND BOTH OF THOSE SCIENCES TELL ME THE OBVIOUS… THAT YOU ARE A BLITHERING IDIOT!!! ON THE OTHER HAND… I DID LIKE TO WATCH LOST IN SPACE WAY WAY WAY BACK WHEN IT WAS ON THE AIR!!!

  • Sugmag

    Danger Danger Dille Robinson!!
    Get back in your spaceship.

  • JohnDille

    YOU ARE RIGHT… I TOTALLY DISAGREE WITH THE BRAIN WASHING PROPOGANDA THAT YOU REPUBLICANS HAVE BEEN TOTALLY BRAINS WASHED WITH!!! TOO BAD THAT YOU ARE TOO STUPID TO REALIZE THAT ALL THE LIES THAT YOU HAVE BEEN TOLD ARE NOT JUST WRONG… BUT ARE EASILY PROVEN WRONG!!! TOO BAD YOU ARE NOT SMART ENOUGH TO GOOGLE ANYTHING!!! A LOT OF THE LIES THSAT YOUR BILLIONAIRE MASTERS HAVE TOLD YOU CAN BE PROVEN WRONG JUST BY SPENDING 5 MINUTES DIGGING A LITTLE FOR THE TRUTH!!!

  • JohnDille

    on, this is waiting to be approved by The Trading Report.

    There you go again ranting and raving about the Republicans. Since Obama has been in office what has he accomplished? NOTHING. When the Dems had the congress what did they accomplished? Nothing! WELL… NOW YOU CAN UNDERSTAND WHY DEMOCRATS ARE SO ABSOLUTELY OUTRAGED BY ALL THE RICH REPUBLICAN PUPPETS AND PAWNS IN CONGRESS, WHO ARE ABLE TO BLOCK EVERYTHING… AND I MEAN EVERYTHING… THAT DEMOCRATS HAVE TRIED TO DO FOR THE LAST 21 YEARS… BUT MOST ESPECIALLY FOR THE LAST 9 YEARS!!! THINK ABOUT IT… IF YOU ARE CAPABLE OF THINKING…. WHEN OBAMA TOOK OFFICE, HE HAD BOTH HOUSES OF CONGRESS BEHIND HIM, AND THEY PROMISED TO PASS A MINIMUM WAGE INCREASE WITHIN THE FIRST 2 TO 3 WEEKS OF TAKING OFFICE! BUT IT TOOK MORE THAN 5 MONTHS TO GET THE NECESSARY LEGISLATION PASSED… AND ANOTHER 6 MONTHS BEFORE THAT LEGISLATION FINALLY TOOK EFFECT! JUST A SIMPLE LITTLE MINIMUM WAGE INCREASE THAT NORMALLY HAS BEEN PASSED AND HAS GONE INTO EFFECT IN A COUPLE OF WEEKS OR MONTHS… GOING BACK MORE THAN 75 YEARS! SO… WHY DID IT TAKE SO LONG???? BECAUSE REPUBLICAN BLOCKED IT AND BLOCKED AND BLOCKED IT AND BLOCKED IT AND BLOCKED IT AND BLOCKED IT… ALL THE WHILE TENS OF MILLIONS OF LOW WAGE WORKING PEOPLE WERE DESPERATE FOR THE FIRST WAGE INCREASE IN ALMOST 10 YEARS!!! AND EVEN THAT IS NOTHING COMPARED TO THE HUNDREDS… HUNDREDS… HUNDREDS OF JUDICIAL AND OTHER APPOINTMENTS THAT REPUBLICANS HAVE BEEN BLOCKING… MANY OF THEM FOR YEARS! IT HAS TAKEN 400 DAYS JUST TO GET THE LATEST GUY APPROVED… AND PRESIDENTIAL APPOINTMENTS ARE A MAJOR PART OF THE PRESIDENTS JOB!!! REPUBLICANS WOULD BE SCREAMING IMPEACHMENT OF CONGRESS IF DEMOCRATS DID WHAT REPUBLICANS ARE DOING EVERY DAY OF THE WEEK… AND YET… YOU BRAIN DEAD REPUBLICAN PUPPETS ACCUSE OBAMA OF BEING A DICTATOR???? THAT’S NOTHING LIKE CALLING THE KETTLE BLACK, NOW IS IT??? THE RIGHT WING REPUBLICANS IN CONTROL OF THE GOVERNMENT FOR THE LAST 21 YEARS… BUT MOST ESPECIALLY SINCE OBAMA TOOK OFFICE, ARE THE MOST FAST CISTIC BUNCH OF AHOLES EVER ELECTED TO THE FEDERAL GOVERNMENT… AT LEAST SINCE THE DAYS BEFORE THE CIVIL WAR, WHEN RIGHT WINGERS TORE THE COUNTRY APART BY DEMANDING THE WHOLESALE EXPANSION OF SLAVERY INTO ALL NEW TERRITORIES AND NEW STATES!!! A HOLE REPUBLICANS… THE GREEDIEST MOST SELFISH MOST ARROGANT JACK ASSHOLES ON THE PLANET… AND THAT IS REALLY SAYING SOMETHING!!! AND YET IDIOTS LIKE YOU SEE NOTHING WRONG AT ALL WITH WHAT REPUBLICANS ARE DOING??? GOOD LORD, MAN… ARE YOU AN AMERICAN… OR ARE YOU A FAST CIST NAT ZI???

  • Sugmag

    Good Job Mark…the guy is in outer space.

  • Mark65

    JD,
    There you go again ranting and raving about the Republicans. Since Obama has been in office what has he accomplished? NOTHING. When the Dems had the congress what did they accomplished? Nothing. What has Obama Care and the Democrats accomplished? Only to raise average health care for the common guy by hundreds of dollars more and is estimate to go up 20% in 2016. Ya, now how is that Obummer Care working for you now. You are nuts and quite frankly scary weird. However, you are amusing and maybe just blowing a lot of nonsense just to get people like me to respond. You make no sense on economics, politics, or foreign policy. But then again if you really believe what you write then you are one crazy progressive democratic socialist that needs a one way ticket to liberal loony land.
    Your in capitalism,
    M

  • JohnDille

    SO… SNYDER IS ADMITTING THAT DISASTROUS REPUBLICAN ECONOMIC POLICIES HAVE CAUSED PAIN AND SUFFERING ALL OVER THE WORLD??? AT LAST, SOME TRUTH!!!! BASH AWAY, SNYDER… THE CURRENT CORRECTION IN THE STOCK MARKET WAS NEEDED. DOWN ANOTHER 10% OR SO, AND I WILL CREEP BACK INTO THE MARKET!!! THOUGH… MOSTLY… I AM WAITING FOR OIL AND OTHER COMMODITIES TO BOTTOM OUT… THEN I WILL MORTGAGE THE FARM AND JUMP IN. BUT I EXPECT TO HAVE TO WAIT ANOTHER 12 TO 24 MONTHS FOR THAT TO HAPPEN! UNLESS REPUBLICANS WIN BIG IN NOVEMBER… THEN THE BOTTOM WILL FALL OUT ALL OVER THE WORLD… AND WE WILL LIKELY SINK INTO A WORLD WIDE DEPRESSION. PEOPLE ALL OVER THE WORLD KNOW JUST HOW DANGEROUSLY IRRESPONSIBLE AND INCOMPETENT THAT REPUBLICANS ARE!!!