RBS (which called the 08 crash in June that year) is saying we have not more than a month until a crash to 550 on the S&P:

I have yet to see ANY meaningful evidence of self-sustaining private sector demand, which I have said for many months is the key to a sustained/secular economic recovery and asset price recovery. All I see is growth and asset price gains driven by the willing and reckless destruction of government and central bank balance sheets. This is NOT sustainable IMHO. I continue to see a private sector that wants to pay down debt, increase savings, cut costs, take less risk. And I see the period of government and central bank driven boom times as rolling over very fast from here on in. Why? Because I think balance sheets and sustainability – govt, central bank AND private sector, MATTER. If they no longer matter, I will be WRONG, and I will have to accept that the policy of ‘Print/Borrow/Spend on Rubbish we don’t Need’ is a limitless phenomena, without consequences, which means there should never be a bear market ever again….I hope this sounds as ridiculous to you reading as it did to me when writing…..

This will depend on whether the stock market crashes or not. If the stock market shoots to 12000-15000 then I doubt we will see another 25% correction but if the market tanks then Yes, I will also see another 25% price fall.

Prices here in Taiwan and Hong-Kong have been pretty stable and in fact have been climbing in Hong-Kong. With all those people and such little space, WTF are they going to move to??

If the S&P went to 550 then I would bet oil would go to $40 and the Index in Dubai would probably be sitting at about 800. If the big guys in Asia knew that the market was going to crash this month then they would not be approving IPO’s for this month and next month. I’m still holding my short position in FAZ so we will have to wait and see to what happens next. If the DOW flies by 10000 then I am pretty sure we will see 12000 before the end of this year.
Ed note: see my latest post!