I’ve been bearish since I first learned of this Quantitative Easing Nonsense.
The governments just printed money out of thin air and suppressed interest rates at zero for a decade.
How could the Ponzi not have dire consequences?
But it just went up, and up, and up.
The upward grinds last for months, the drops are dislocations, a matter of days.
So here we are teasing the 200 DMA. I made a fortune the last time this support gave out… that was three years ago… the markets a hell of a lot higher than it was then… Learned a painful lesson about calling tops. Nothings changed except things are even more jumbled now.
Interest Rates are like a pin to prick this Bubble of Madness.
Then again, the economy is not the stock market.
Asset Prices are out of hand. What’s the value of money?
What do we value?