Editor’s Note: Markets rarely collapse without warning – but the warnings are often ignored. One of the clearest signals of an impending correction has resurfaced, flashing at levels last seen before the dot-com crash and the global financial crisis. Legendary forecaster Porter Stanberry explains what it could mean for investors who aren’t prepared.

Get the full story here.

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“Be first. Be smarter. Or cheat.”

That’s the most honest line ever spoken about Wall Street.

It’s from the movie Margin Call and it’s more than a glib statement. It’s a rule.

And right now, the market is offering you one of the few chances regular folks ever get to follow it.

That’s why I’m actively warning investors about a coming market break that could devastate years of careful wealth building – and showing them how to prepare, while there’s still time.

Because a very important indicator is flashing right now…

It tracks margin debt – the amount of money investors are borrowing from their brokers to buy stocks.

In other words: Leverage.

You’ll note that the last two times we saw leverage hit these peaks was just before the dot-com bust and preceding the Global Financial Crisis.

People don’t borrow to buy stocks when they’re cautious. They borrow when they’re euphoric… when they’re convinced the party will never end… when they want to turn a good year into a great year.

And that’s exactly what we’re seeing now.

Investors are going all-in on credit.

FINRA’s latest margin statistics show debit balances around $1.21 trillion (November 2025) — near record territory.²

Now, I’m not saying margin debt causes crashes. Just like dry forests don’t cause wildfires.

But when a spark hits, it’ll determine whether the forest burns out… or becomes an inferno.

Margin debt tells you how dry the forest is.

It tells you when the market is so overextended that a small spark could trigger a chain reaction.

Because when leveraged investors get hit, they don’t “choose” to sell… They’re forced to sell.

That’s what a margin call is.

It’s mass liquidation. So this chart isn’t an omen. It’s the market’s early warning system.

That’s why I’m telling you to look beyond the AI euphoria… to stop cheering the “bullish” rate cuts… and see the truth:

This market’s like a house with fresh paint and termites chewing through the foundations… It looks strong from the street, with Nvidia and a handful of megacaps dragging the entire market to all-time highs…

But beneath the surface it’s been hollowed out.

Analyst Michael Lebowitz sees “striking similarities to the dot-com melt-up of 1999” — and so do I.³

Back then, rate cuts acted like fuel on an already raging fire.

Predictably, the market got too hot… and it flamed out.

With Trump rallying for ever bigger rate cuts again, we’re watching the same story unfold.

History tells us that by the time desperate cuts arrive, the damage is already done. The bubble is too big. Too unstoppable. And the outcome, in my view, is inevitable.

I don’t say that as a casual observer.

For nearly 30 years I’ve built a career helping regular investors prepare for dramatic shifts in the financial system… calling the Fannie Mae and Freddie Mac implosion, America’s lost AAA credit rating, and the COVID inflation shock long before the headlines.

And now, I’m doing everything I can to prepare you for the coming blow up. Most folks will be left holding the bag, loaded up on the wrong stocks at the wrong time.

That doesn’t have to be your story.

I’ve recorded a critical emergency broadcast called Breaking Point to show you how to navigate what’s ahead.

Watch it now and you’ll discover:

Why the most dangerous flaw in America’s financial system has reached a point of no return
How Trump’s tariffs are accelerating the coming crisis
And what I believe you must do now to avoid the worst of it – and potentially even profit from the unstoppable crisis

In the broadcast, I also name three investments you can make today… assets that could see a huge influx of capital when this situation escalates.

Let me show you how to prepare.

THUMBNAIL WITH CAPTION “WATCH BREAKING POINT NOW”

Good investing,
Porter Stansberry

1. https://x.com/SubuTrade/status/2001320385212465226
2. https://www.finra.org/rules-guidance/key-topics/margin-accounts/margin-statistics?utm
3. https://www.advisorperspectives.com/articles/2025/08/04/high-beta-melt-up-echoes-1999
4. From Luke Lango’s presentation at the conf