Financial Crash Finally Here, Even the MSM Admits It Now

Everyone’s 401K is down by at least 20%– if you’re typical, that is. NASDAQ, where all the tech stocks hang out, is down by 28%. (I’m guessing the chip shortage is hammering them!) Crypto currency is collapsing outright… There are signs all over the place I can think of just off the top of my head. I no longer have any skin in this game– only when I was married did it matter. But still–! So many decisions have been made to keep that Bull market going that seeing it go PLONK! now just confirms they can’t hold it up any longer.

Cat was always paranoid and her 401K is nearly all bonds, so… she’s sitting pretty!

The mainstream media has let go of the denial stage, and so we’re seeing some articles pop up about this situation.

Here is one such article: nymag.com/intelligencer/2022/06/crypto-crash-5-obvious-market-top-signals-everyone-missed.html

5 Super Obvious Signs We Were In A Financial Bubble

1. Believe it or not, a firm getting the stupidly expensive rights to name a stadium after themselves is a cue for financial disaster. Enron and several other companies, full of hubris, got naming rights to stadiums just before the bottom fell out from under them. The same thing just happened to crypto-currency. Weird, right?

I would NOT call this a “super obvious” sign of a financial bubble, actually. This is really obscure.

2. NFTs were a total joke, and have lost over 90% of their value from their top at the end of last year/beginning of this year. Who the hell thinks a cartoon monkey is worth $130 million? Dumbasses in the market did, but consumers–? Who were supposed to pay to look at silly art? They refused to pay and moved on, which to me was an obvious outcome, but a BUNCH of people just got squished in this over-valued commodity. Especially when nearly ANYone can get around the digital blockchain token! I mean, it’s an image– all you have to do is take a picture of the picture and then post it for free… and that’s exactly what everyone is doing. Fucking DUH!

THIS one I can say was indeed totally obvious. Even I called that one!

3. Meme stocks. The whole Robinhood scandal that tickled my fancy when a bunch of average folks shorted a stock and made a pile of money– IF they got in and then got out FAST. Those who stuck around lost over 50% of their initial investment. But the fact such a weird set of circumstances could even happen is considered a sign of a “bubble” market.

Agreed.

4. SPACs– their existence and their management. “Special Purpose Acquisition Companies” were created to, once again, mess around with several similar types of companies rolled into single market accounts. And one guy, who led the merger with Virgin Galactic, had such an ego he bragged he was about to “fuck shit up” and… helped to send his SPAC, which was the “king of SPACs” into freefall.

Not obvious to me, but it sounds hinky, and when a lot of hinky-sounding “financial innovations” pop up, THAT is indeed a sign of the top of a market, because it seems to many people that you just can’t lose money in such a case. But–! That’s only because the market has been utterly divorced from reality for well over a decade! That it kept going up through most of the pandemic indicated to ME that it was mostly bogus.

5. Finally, bear market experts, hedge fund managers, and short-sellers (who are all the ones who make out when the stock market falls) have been saying that the market was over-valued and set to fall again for YEARS. At the end of last year to the beginning of this one, many of those people gave up and quietly stopped predicting a fall– just before the market fell.

Not obvious, but I see the point with 20/20 hindsight!

Meanwhile, if you’ve been living in a bubble (and I know I mostly have for almost a year now) then look up and sniff the air… shit is going DOWN.