By the way. I have another website. It's called the Wall Street Examiner. It has some good articles.
Obviously this time is very, very different from the past dozen years. We had the greatest crash in history and it came from the very top, not a second wave, as is historically the norm.
The banking system is wiped out. There's no resiliency because the bubble expanded too far. Its surface became brittle. The surface collapsed instantly. There's no internal structure to hold anything together, so great was the leverage. All of the net capital in the world has been utterly destroyed. There's no capital. The system is insolvent. It is now taking 300-400 billion a week of cash injections into primary dealers, and countless billions of other support operations by the Fed and other central banks to keep the system barely functioning at all.
We are in final and total systemic collapse. We may be starting a cyclical bull market, but I doubt that it will retrace even 50% of the first leg down. I believe that this is November 1929. The market will be higher this summer, but much lower by this time next year.