In retrospect, people will realize that everyone saw the obvious risk but no one wanted to speak out about it, so they just went along for the ride. Because to do otherwise would seem stupid.
Even these two who mention today's lunatic levels of risk-taking are very circumspect in their comments.
"Repeat after me, there is no such thing as Coronavirus"
The Trump bubble has grown so large now that no one wants to be seen as questioning insanity. It's groupthink on steroids, driven entirely by misallocated capital. People are balls deep now in the MAGA Kingdom whether through stocks, or real estate, or their political view.
The Trump bubble has grown so large now that no one wants to be seen as questioning insanity. It's groupthink on steroids, driven entirely by misallocated capital. People are balls deep now in the MAGA Kingdom whether through stocks, or real estate, or their political view.
Which is why this new permanent plateau of delusion has silenced all critics. Faith in central bank god-like powers is complete. Now they're out there inoculating us against viruses.
When this faith gets broken, you can assume panic on a scale never seen before. There is no safety net now.
I was just chatting with an older friend who was asking for financial advice. I told him I don't give financial advice. He told me he believes his financial advisors are putting him in far too much risk. So I showed him the clip above and explained that people are drinking the Kool-Aid in record size right now.
I also told him that his financial advisors have no fiduciary duty to consider his best interest, because Trump killed the Fiduciary rule. He was shocked beyond belief. Picture how many old people out there are being preyed upon right now by unfettered criminals. This is a con man's paradise:
Make no mistake, we live in an age of unprecedented criminality. We are witnessing a level of everyday fraud and corruption we've never seen before. The fact most people can't see it taking place, is because most people base their perception of what's normal, upon what other people view as normal.
Especially when it comes to markets.
Especially when it comes to markets.
If everyone pretends that this Trump super bubble is business as usual, then people would feel stupid to come and out say that it's not normal. Most people have no clue what is normal or irregular when it comes to markets, particularly now after a decade of non-stop financial alchemy.
Bernie Madoff just took a look around and wondered, "why the hell am I still in jail? Everything I did is now business as usual"
Bernie Madoff just took a look around and wondered, "why the hell am I still in jail? Everything I did is now business as usual"
My older friend asked me point blank why are none of today's academics or business leaders speaking out against this insane level of risk taking? My answer is, I don't know, except to say that they bought into it a long time ago. Ignoring valuations is now merely commonplace across every asset market.
Markets are now priced solely based upon what the next fool will pay. We are in a greater fool's market across the board, and when the music stops, not everyone will have a seat.
Nevertheless, in an insane asylum, to question insanity is highly anti-social.
Turning a blind eye to rampant corruption is about to become very unaffordable.
"Buy "stocks", Tech overweight is at record highs"
"Buy "stocks", Tech overweight is at record highs"
