Robert Prechter is sounding his familiar theme again (and again and again and again...). I've been listening to him for quite a few years now, and it seems that we are always right on the brink of falling off the cliff.

The U.S. is in fact already bankrupt and poverty-stricken; these facts just haven’t yet become a matter of record. When they do, the public’s anger and dismay will be tremendous because its current expectation of business as usual is the complete opposite of the reality that’s coming....

Short sellers are poised to reap the rewards of a unique opportunity; never has a recorded stock market had so far down to fall. Never have so many other markets – commodities, metals, corporate and municipal bonds – been poised to fall with it.

Who knows, maybe this time he's right -- why does a vision of a broken clock keep flashing through my head?