I seriously doubt that the market will tank THIS year. Only a massive crisis in the European banks would do it, or a giant black swan, like a big war or terrorist attack. They Europeans have kicked the can down the road until next year with more debt creation. They will bail out whoever they have too, just like Washington did, if a severe crisis develops. These doom and gloomers forget that governments can print money, with the negative effects not showing up for years. They aren’t going to sit back and watch their wealth disappear again, if they can prevent it. Lehman taught them a lesson.
I see a moderate slowdown starting late this year, but doubt that the market will crash, until the big debt collapse. That could take another 5 years, or more. It might never happen. I can see the Dow near 11,500 by the end of the Santa Claus rally. The Fed will keep interest rates low well into next year.
We can mess around with debt and fiat money. If that were only true for crude oil. Hope the travelling wave nuclear reactor that Bill Gates is investing in, proves feasible. It could be a world growth game changer. Electricity can do anything, IF you can produce enough of it at a reasonable cost. If we could produce electricity cheap enough (a big if ), crude oil might become like whale oil.