When does that stop? How does it stop? Does it have to stop? Logic says yes it will indeed end. But I’ll be damned if I know just how. We have already seen so many impossible things, that I can’t wait to see the next one. Get your popcorn and watch the show.
pundits of today, are spewing the same crap they spewed in the 1999 market madness. Overvaluation didn’t matter they said because they were all going to make so much money in this “Internet thing”.
What matters is that the world has transitioned from a pre-World Wide Web economy to a World Wide Web economy, and we are still dealing with the ramifications of that.
We’re mired in a global debt and derivative “bomb” that is Mathematically impossible to get rid of. We’ve got quadrillions in derivatives and even the best experts suggest that they have no way of knowing how many millions of people would be affected by the failure of just a tenth of them.
We had a market that had run up for 9 years. We had valuations at nosebleed levels. We had people that didn’t sell in 2017 so they wouldn’t have to pay taxes on it in 2018. Some decided it was time to book profits. We had a lot of reasons for a correction to hit. And, hit it did.