Mystery Economic Theatre 2022 (or is the crash upon us?)

[garo]

One of my formative financial experiences was to put some of my meager savings into tech stocks in 1999 only to watch it evaporate over the next couple of years., The experience scarred me so much that I didn't look at the portfolio for years afterwards.
That is until I started reading the Global Financial Crisis (was Subprime Meltdown) thread in early 2008. This led me to get rid of all my equities and start dabbling with the dark side (i.e. short selling and options) and eventually led to a career change.
I now believe that we stand on the precipice of a crash of similar magnitude. It will certainly play out differently but all the signs point to another crash.


To kick off this discussion I submit to you the latest missive from Jeremy Grantham:
https://www.gmo.com/europe/research-...-rumpus-begin/

[garo]

Looks like this was on the money.

[Xyzzy]

HODL

[masser]

Originally Posted by Xyzzy

HODL

Hold on, dear life?

Hands of diamond-like?

Hurts on down low?

Has only digital lucre?

[ewmayer]

Originally Posted by Xyzzy

HODL

Yahoo! Finance explains why Crypto is not merely a massively more environmentally destructive techno-iteration of Tulip mania (the italicized snip is literal-copy from the Yahoo headlines section of the BTC-USD summary page), and why NFTs (non-fungible tokens) are the NBT:

This investor bought a Bored Ape NFT for $1,700 in 2021 and plans to HODL. He explains why the crypto meltdown didn't stop him from quitting his job to work in Web3: "Name you industry, NFTs are going to disrupt it. Look where some of the smartest people are going," Keith Martin said."

Note, not just any investor, "this" investor - that carries a lot of weight. So, to summarize:

o "Name you industry, NFTs will disrupt it", and I believe he is correct, just that his usage of "disrupt" may differ in meaning from the stodgy old negative-connotations-freighted "to interrupt (an event, activity, or process) by causing a disturbance or problem; to drastically alter or destroy the structure of (something)."

o If "non-fungible token" strikes you as "bafflegab", don't worry you pretty little head about it, just back up you truck and buy with both you fists.

[chalsall]

Originally Posted by ewmayer

Note, not just any investor, "this" investor - that carries a lot of weight. So, to summarize:

Noise.