That FTSE crash

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In March I wrote suggesting that the FTSE was seriously overvalued at over 6,000.

Inevitably the cynics said I was wrong.

The market went to 6,800.

And now? Look at this:

Screen shot 2013-06-25 at 06.51.18

QE is unwinding.

China is unravelling.

Carbon is massively overvalued on FTSE balance sheets.

Austerity is guaranteeing recession for years to come.

Of course I could be wrong about 6,000 being too high. But I don't think so.