The stock market has had downturns and crashes before, but this time is different. This time the forces that caused the downturn are so bad that we will never get out of this mess. This time, the market may never, ever, ever recover!
"This outlook is essentially a bet that our current predicament is so different that the equity markets won't bounce back at all, even though they survived 1929, the Great Depression, 1987, and a major terrorist attack. I do not believe that the markets are in some kind of permanent decline, and I haven't found an expert that does."
"If the entire financial system in this country does collapse, my IRA (and yours) will be worth nothing. But at that point, to paraphrase Jonathan from My Money Blog, I'll probably be more worried about food and guns than anything else."