Remember When

Remember when the Fed was never going to raise interest rates?

Remember when QE was going to cause hyperinflation?

Remember when the dollar was going to collapse?

Remember when the Baltic Dry Index was the economic tell of the entire global economy?

Remember when we were going to see a repeat of the 1929 crash because of a chart?

Remember when the end of QE was going to cause an enormous market crash?

Remember when the U.S. credit rating downgrade was going to cause interest rates to skyrocket?

Remember when the fiscal cliff was going to take down the markets?

Remember when we were supposed to be in a recession in 2011?

Remember when Greece was going to cause a global economic collapse in 2010? And 2011, 2012, 2013, 2014 and 2015?

Remember when oil was going to $250/barrel?

Remember when gold was going to $5,000/oz.?

Remember when the Dow was going to fall to 1,000 (or rise to 30,000)?

Remember when Internet stocks during the dot-com bubble era didn’t need earnings because of the new economy?

Remember when stocks couldn’t possibly get cut in half twice in one decade?

Remember when there was no chance the market was going to bounce back after the 2007-2009 crisis?

Remember when interest rates couldn’t possible go any lower in 2010 (and 2011 and 2012…)?

Remember when Cyprus banking issues were the canary in the coal mine of the entire financial world?

Remember when the BRIC countries were the hottest investment trend in the industry because of “growth.”

Remember these types of predictions the next time you hear a market prognosticator tell you they know what’s going to happen in the future. They don’t.

Further Reading:
Perma-Arguments