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To get a sense of where things are headed, follow the capital flows. If you observe the dot com crash and the housing induced crash of 2007-08, then you begin to realize that almost all crashes throughout history have been preceded by major inflows of capital chasing higher yield or dream returns.  Going back to the tulip mania, or the South Sea Bubble, it is always the same. Investors, homeowners, commodity speculators, or whoever, are chasing a fantasy that inevitably blows up in a banking or capital markets collapse.

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