David Stockman Asks: ‘Dow 25,000, What Could Possibly Go Wrong?’
“…we know of no melt-up that had legs of more than a few months after the point that irrational exuberance went full retard, as is happening at this very moment.”
“…we know of no melt-up that had legs of more than a few months after the point that irrational exuberance went full retard, as is happening at this very moment.”
“No one is excited.”
“For all people who use bitcoin for their day to day expenses, it was the only way to do that.”
“There’s absolutely nothing driving this rally except rampant FOMO, misinformation, and speculation.â€
“…but we again caution you that, if you lose money, there is a substantial risk that our efforts will not result in a recovery of your investment.”
This is so laughable that the English language is not a sufficient tool…
Throw in a little of Kuroda’s patented Tinker Bell dust and the fact that margined Japanese FX traders are sitting on a ¥3.2trn unrealized gain in Bitcoin, and you’ve got a recipe for … well, for more mania.Â
“Sooner or later”…
It was back to work on Tuesday as investors, analysts, and pundits alike drug their tired asses back to the desk after the holiday break.
“…there is no guarantee that any of these folks will still be billionaires when Forbes publishes its next list in March.”
As this year melts into next, we thought we’d revisit five key problems the country faces for readers who have a keen interest in the extent to which America, while not the barren, bone-strewn wasteland imagined in Donald Trump’s inauguration speech, does have a set of rather serious issues it needs to address in 2018.
“That is very often the final stage of a bubble and I do not believe that “this time is different.”
This should be fine.
Cheers to you in the new year…
“In some cases this might make sense (for bitcoin, the total supply is not yet mined and won’t be for a long time so it is truly not accessible), but for almost all other cryptoassets this view is simply misleading.”
This horse has left the barn Vitalik. You can’t put the genie back in the bottle now.
Of record highs and lots of other stuff.
Boy, there is so much irony in this story that it’s hard to know where to begin.Â
Government interference in cryptocurrencies is something of a bitter-sweet proposition for crypto bulls.
“In a market, if it matters to someone, it should matter to everyone. And narratives matter to a whole lot of someones.”
Who’s long weed and palladium?
Who’s still drunk?
Unless of course every Millennial becomes a Bitcoin millionaire, in which case I suppose all of this debt will be paid off within the next 12-24 months.
The bottom line from where we’re sitting is not “who is “mukiwa2” because you know, who the fuck cares, right? The issue, rather, is precisely what we said it was last week…
“What if there isn’t actually any use for a distributed ledger at all? What if the reason that, ten years after it was invented, the reason nobody has adopted a distributed ledger at scale is because nobody wants it?”
Don’t forget the eggnog.
Who knows, maybe folks spent last week selling their stocks and plowing the proceeds into Bitcoin.
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