Market cycles and stock market crashes

I used to poke fun all the time at the permabears for not being able to recognize the boom times for what they were, say from 2010 to 2015. Peak oil, unemployment, valuations, currency wars, and China were always their reasons for pending Armageddon. Now though, here in 2016, peak oil is proven silly, deflation is real, currency wars are real and China’s a concern. Let’s hit on each of these points...