Long-time readers know that I have been warning for years that the U.S. stock market was being driven by Fed policy. Last summer (in 2015) my co-author Carlos Lara and I began a three-part financial/economics seminar on “The Coming Storms” to Paige McKechnie of CCC Corporation in Nashville. We had already done the first one or two presentations and then the stock market dropped sharply in August.
So in the following session (when I think some of the participants were thinking “Wow I wish I had taken these guys more seriously when they sounded so alarmist a couple of months ago”) I wanted to show people that the previous two stock crashes were not one-shot events. Instead, they were slow-motion train wrecks.
(In the above, the camera guy was only on me, and so after the fact he interspersed shots of my PowerPoint with its animations. But you can’t see what I was hitting with the laser pointer, because he didn’t have a camera on the actual screen that the audience was seeing.)