Ah... China, and we've just begun - yellow line of despairWe won't be getting higher than the yellow line any time soon.
With recent events around China's "real" numbers coming in (who knows what's real anymore?) and the issues around oil production (which are NEVER going away b/c in 15 years we won't even need oil anymore), the market is in a major, structure re-evaluation phase. Why?
1. Global unease in the old model of forever growth, which is unsustainable
2. QE x 17 or whatever and people realizing that money isn't actually worth anything (currency)
3. All the old people (baby boomers) cashing in their retirement accounts so they can buy that giant bus conversion and finally go visit their grand kids.
4. Marijuana. If you want to decrease employee productivity... give it to them.
