Not yet, but maybe soon according to two experts on CNBC yesterday:

A jolt to international confidence in central banks will lead to a 30 to 60 percent market decline, David Tice, president of Tice Capital and founder of the Prudent Bear Fund, told CNBC’s “Power Lunch.” When this happens, he said, markets will face a “period of extreme turmoil.”

This crash will be precipitated, he said, by a disillusionment with the Federal Reserve’s “confidence game,” which will then see inflation rise, and the Fed scramble to raise rates. At that point, Tice added, “the Fed starts to lose control.”

Another market watcher also called for an impending fall.

The Fed’s low interest rates could bring a “scary” 50-60 percent market correction, said technical analyst Abigail Doolittle.

We’ve had a nice run for five years, building “prosperity” on the smoke and mirrors of reinflated equities and housing, while keeping consumer spending jacked up with record welfare spending. But the correction always comes — even in a healthy economy built on a solid foundation. The difference is that when a healthy economy endures a contraction, it still has that solid foundation.

All we have are Janet Yellen’s printing press and Washington’s largess.

UPDATE: This might be obvious, but it needs to be said anyway. If you’ve been trading on margins, you’ve got to cut that out.