24 Hours

[errolanderson]

Global financial losses are now staggering. Bloomberg calculates that current losses are now 3X that of the financial crash of 2008 and nearly 2X greater than the DOTCOM crash of 2000.

[shtferbrains]

Global financial losses are now staggering. Bloomberg calculates that current losses are now 3X that of the financial crash of 2008 and nearly 2X greater than the DOTCOM crash of 2000.

I don't follow the market close enough but how much of this is peeling off what was easily seen as inflated valued that was mostly pump like meme stocks and a lot of the new green economy virtuous type investments?
Ark Investment as an example. Great appeal if you want it to happen but all bleeding edge portfolio.

Lots of bullshit hitting the fan IMHO.
When stuff looks "too good to be true" the truth most always comes with a reckoning.

[agstar77]

Greed Fear Greed Fear rinse and repeat. History repeats.

[errolanderson]

Target - down 25% this morning 🤯

At the open, it's the biggest single-day loss since 1987

[jensend]

Target - down 25% this morning 🤯

At the open, it's the biggest single-day loss since 1987

Errol, I've followed your bearishness for years. Through the Kondratieff cycle predictions, before and since. This time I think you're right. The central banks have no more ammunition. Crypto is a hoax and will, in the future, be seen as a grifter's dream. Governments and consumers have avoided paying the full cost of maintaining the standard of living and a lot of the unpaid costs have been laid off onto the environment. Gaia is showing some anger now and there will be more environmental ramifications to how we live, produce and consume. The inequities in income and wealth have consequences to the social structure. IMHO change is coming, some of it drastic.

[furrowtickler]

Add to that the insane amount of government spending and handouts the past few years is about to come home to roost

[ajl]

I think the reality of “things” not needed when inflation destroys the middle class .
You can’t live without food but everything on that list is basically a luxury and not needed like Facebook, Netflix and others . So losing value in something that was way way overvalued does not concern most average Joes …. But food and fuel do .

Not surprising at all , when you demolish the disposable income of the middle class this is the result .

As the depression starts rolling, you will be surprised how much food demand will drop as well. People will go without food (for a while) to keep a cell phone. This is why during the 30's while there were crop failures due to drought there also was low prices often times as well. One day it will be the right day to forward price.

[errolanderson]

The next crash . . . . Home listings jump as sellers rush to cash out of the hot housing market.

What housing shortage? Developers now at-risk?

[mcfarms]

Seems my neighbour who told me to back the truck up on oil stocks last March was correct.
Saw him driving a new truck.

[Sodbuster]

Oil and gas stocks have had a great run, since last March they have more than doubled.