The Crisis: Michael Panzner Tells It Like It Is

 
Michael Panzner, author of Financial Armageddon: Protecting Your Future from Four Impending Catastrophes, makes so much more eloquently the very points that I have been trying to make about the global economic downturn.

The recent rally has been too strong and based not upon fundamental but misperception of where we are in the recessionary cycle. Like many corrections (whether emanating from a bull or bear market), the dynamic has taken on a life of its own. People are now doubting as to whether we are in a bear market rally and are beginning to believe that the recovery has begun. That is dangerous. When that happens the surface of the bubble reduces in viscosity.