Objectively we only have 3 waves down at the moment.
As many of you suspect, I have a strong Libertarian impulse. I rather not give up incremental freedoms for the hollow promises of a government bureaucrat. I believe in a truly free market, one that is allowed to fail along with succeed.
I remind you that Obamacare was passed along strictly party lines. Not even one Republican Senator voted for it. This amount of division for something as large as healthcare is almost unprecedented for something that will have such a dramatic impact on generations of lives. And now one Jurist (Kennedy?) will decide the fate of generations. Even he said, "This fundamentally changes the nature between the government and the individual". That is a as succinct a statement as it gets and he'll have a hard time backtracking from that statement should he uphold the law. The stakes are indeed high.
What this extreme division on only 1 topic shows is that social mood is not coalescing in a true bull market but rather dividing. This division will probably get amplified with the Supreme Court ruling one way or another. Pass or fail, its going to get ripped. (and we should know at the end of June).
As far as Occupy Wall Street, I have a lot of sympathy for the anger against banks. But their solution it seems would be to have more government interference and "solutions" (thus resulting in more crony-ism as a result!) as the answer which goes against my personal grain. I also identify with Tea Partiers who can see what I see - that the country is headed for financial catastrophe at this rate. If the two ever made common cause, the oligarchs would have a real problem on their hands. But social mood predicts they will probably not.
Incidentally my prediction is that the two forces of OWS and TP'ers will be making a comeback in 2012. The prediction of social mood ready to go down again should ensure that. The weather is getting warm which makes it easier to gather and protest. We are seeing that with protests against the shooting in Florida. So we have a new element in the mix this year - racial division.
Its going to be a tumultuous summer I think.