Loading ...This society has a collective IQ of 5. Today’s “best and brightest” PhD thought dealers are as dumb as a fucking post. Which was the first of many lessons not learned in 2008. To begin with, in a pseudo-economy consisting of Supply and Debt, stock market P/E ratios have the veracity of a Chinese fortune cookie.
Forward profit estimates have a bad habit of turning back into pumpkins at the end of the cycle. Corporate profits went from all time highs in 2007 back to 1975 lows in 2009. ALL of the new McJobs created during the eight Bush years were gone in nine months. As if there had been no recovery.
Remember back in 2011 when Gold made its parabolic run which ended with QE2 rolloff? In this part of the cycle, the new safe haven from “fiat” was Bitcoin, which imploded concomitant with the rolloff of QE4.
For all of the ever-shifting reasons Bitcoiners have proferred for owning Bitcoin – digital currency, safe haven, store of value, etc. etc., it never once occurred to them that Central Bank muppet was the only real one.