As you know from my posts of the last couple of months I believe the stock market is going to be a tough place to be for some time. Bear market rallies can be very powerful, and can even retrace 50% of their losses. However, I very much doubt that this will be the case in this particular bear.

The announcements coming from the US, and global governments, clearly indicate that they will do ANYTHING to avoid a global economic meltdown. This includes “forcing” the largest banks and financial institutions in the US to take billions upon billions of dollars via government equity stakes.

The founder of Chesapeake Energy, Aubrey McLendon, was today forced to sellall of his shares today..margin calls..he had bought stock all the way up to$90.on margin.and now he's wiped out in less than a week. The stock closedat $16 today.

I’m writing this because I want you to be as prepared as possible for what is coming. The following views are my personal opinions on what I see happening. Confidence in the system has been lost. What we’ve seen so far is just the beginning, and it truly makes me sad to have to write this.