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Equities Update: Averages Tumble as Traders Fret over Economy

Whether you believe it or not we are leaving the "fat cat affluent society" and entering "the end of consumerism". And when will "consumerism" end? Around 2022, if not sooner. This date coincides with the end of oil and the end of the industrial revolution. The oil business drives society and civilization as we know it. The petroleum industry is a sunset industry and the sun is low in the sky. All of this will profoundly affect the markets from this day forward and we will see a greater influence next year and years to come. The world as we have known it is gone and won't return. Ahmed Zaki Yamani, former oil minister of Saudi Arabia, once said "Just as the stone age didn't end for the lack of stone, the oil age will end long before the world runs out of oil". Go ahead and fret about the day-to-day market gyrations but there is a much larger and more devastating influence lurking. It is happening now and will gather steam going forward. No amount of money will prepare you for what lies ahead. You heard it here first.