John Hussman argues that overall stock market conditions are conducive to crashes only about 4% of the time over the long time. And we are now in that 4% envelope.
He is not predicting a crash, but pointing out that the odds are much greater than many think.
“The things that will destroy us are: politics without principle; pleasure without conscience; wealth without work; knowledge without character; business without morality; science without humanity; and worship without sacrifice.” Mahatma Gandhi