Dear Reader, The ghosts of 2008 rattled their chains this week. According to a new Gallup poll, Americans haven't been this worried about the safety of their money since the Great Recession. More specifically, they haven't been this scared since September 2008 – the month Lehman Brothers collapsed. And can you blame them? Even Wall Street's spooked. A string of resignations and liquidations have plagued what were once the most prolific portfolio managers on the street. Entire teams have been liquidated, with little-to-no fanfare! One Wall Street headhunter even just said: "It can't get much worse than this." Here's exactly why. I can't help but be reminded of May 2008, when thousands of "stealth layoffs" swept across Wall Street. It happened so quietly, that The New York Times' coverage of the story reads like a murder mystery. They wrote: "People on Wall Street seem to be vanishing overnight." Now today, with hindsight on our side, we can see this vanishing act for exactly what it is. Which is why our friend Joel Litman just issued a dire warning. In June 2008, Joel made financial history when he warned a room full of investors, accountants, bankers, and private money managers that Wall Street was headed for a full-blown crisis. Lehman Brothers collapsed three months later. And by October, stocks were officially in freefall. Now today, Joel says Wall Street is quietly preparing for a new reckoning... And he's revealing the exact date it will hit U.S. stocks. Regards, Brett Aitken
Publisher, Stansberry Research | 