I don't believe the sales per Realtor, unless it's in dollars not units? Still, we all agree that real estate licensees will be working harder for less. With the NAR "antitrust" settlement, buyers agents are getting disrespected. Buyers trying to save a few dollars.
This is what happens when the currency, a monopoly of the State, is backed by debt. That's crazy. How is a debt, a promise to pay, money? It's ridiculous on its face.
It's like building a house or planning to build a house because your brother-in-law promised to build it.
something BIG has to give so we all are coaxed, nudged, or dragged kicking and screaming into that lovely sweet sounding "utopia" new world . . . . . they've been working on for so long. The people need some pushing, and some fear, and some bribes, and a whole lot of empty promises.
Credit card debt may be stressful, but so is the ostracization by friends and family members who continue mock those like me who think the end is nigh. "You've been saying that for ten years!," is a common refrain. And they're right. It's always tempting to try to catch a falling knife but it's become increasingly difficult because unprecedented (if not illegal) actions have been employed to keep the balls in the air. And there could very well be more and new ones to come. After all, QT is still going on (albeit more slowly), QE hasn't even started again, and who knows what else might be invented (like debt "jubilees") The economy and the financial markets have been "too big to fail" since 2008, and now they're even bigger.
My wife wants to invest in Nvidia now, and she's so risk-averse she's held only cash since the day we met. Maybe that's a canary, except that she wanted to invest in it 2 years ago, but didn't because of my "advice."
I'm shutting up now. Hopefully, next year will be a good, one but I still can't shake my doubts.
Remember, a bag of gold will buy a loaf of bread. Better to have some bread and meat on hand as well as some silver. I think it will be cheaper to pay with silver vs gold.
It might help to just be less vocal about things. I was very vocal when I was first red-pilled just before the onset of the GFC and have since learned that the market can stay irrational far longer than any of us would expect. I started investing in gold, oil, commodities, etc., in the 2010s, and I'd have been better off following the asses traveling in masses and investing in FAANGs.
As for NVIDIA, it isn't worth what it was selling for 2 years ago, but who could have known how much the asses traveling in masses would drive the price up?
It is surprising that your wife goes from ultra conservative to ultra risky like that. Perhaps you can show her the metrics for NVIDIA compared to historical norms and convince her how overvalued it is compared to historical norms for stocks. Maybe steer her into a money market fund or a mutual fund that holds Treasuries and similar instruments (I have Schwab, and am sitting in SNSXX and SNVXX waiting for the bloodletting) and earn +4% interest while waiting for a/THE correction.
It is indeed "stressful" Bruce (we met long ago, and nothing has changed!). I left the market in 2001 after being burned by Marconi among others. For me it's not about chasing the 'profit' by looking back at what I missed, it's more about preserving what I have. " Fear is rooted in the attribute of the risk of losing what I have or not getting what I want." Seeing others make a bomb (Bitcion comes to mind) drives that caustic emotion of getting on the band wagon.
The advice to your wife was (is) sound IMHO, Bruce - stay the distance with a clear head, LOL
David Hunter is the only pundit to correctly call the market since the big drop a few years back. When his SPX price targets are approached, I'll take my toe out of the water. Even he doesn't pretend to know when those targets will be hit.
The great reset is still in play. We’re all gonna be broke. Even those riding the fence and still pretending their kids have a bright future attending college and going to Disney. You’ll own nothing, and be happy wasn’t a joke. Get ready.
I don't believe the sales per Realtor, unless it's in dollars not units? Still, we all agree that real estate licensees will be working harder for less. With the NAR "antitrust" settlement, buyers agents are getting disrespected. Buyers trying to save a few dollars.
Glad I caught the stacking bug in 2019. Music has to stop at some point, and I have a chair. 🪑
Great review John, thank you, and this is worht a read: https://www.investopedia.com/articles/stocks/10/5-steps-of-a-bubble.asp
This is what happens when the currency, a monopoly of the State, is backed by debt. That's crazy. How is a debt, a promise to pay, money? It's ridiculous on its face.
It's like building a house or planning to build a house because your brother-in-law promised to build it.
something BIG has to give so we all are coaxed, nudged, or dragged kicking and screaming into that lovely sweet sounding "utopia" new world . . . . . they've been working on for so long. The people need some pushing, and some fear, and some bribes, and a whole lot of empty promises.
Credit card debt may be stressful, but so is the ostracization by friends and family members who continue mock those like me who think the end is nigh. "You've been saying that for ten years!," is a common refrain. And they're right. It's always tempting to try to catch a falling knife but it's become increasingly difficult because unprecedented (if not illegal) actions have been employed to keep the balls in the air. And there could very well be more and new ones to come. After all, QT is still going on (albeit more slowly), QE hasn't even started again, and who knows what else might be invented (like debt "jubilees") The economy and the financial markets have been "too big to fail" since 2008, and now they're even bigger.
My wife wants to invest in Nvidia now, and she's so risk-averse she's held only cash since the day we met. Maybe that's a canary, except that she wanted to invest in it 2 years ago, but didn't because of my "advice."
I'm shutting up now. Hopefully, next year will be a good, one but I still can't shake my doubts.
It's stressful.
Remember, a bag of gold will buy a loaf of bread. Better to have some bread and meat on hand as well as some silver. I think it will be cheaper to pay with silver vs gold.
It might help to just be less vocal about things. I was very vocal when I was first red-pilled just before the onset of the GFC and have since learned that the market can stay irrational far longer than any of us would expect. I started investing in gold, oil, commodities, etc., in the 2010s, and I'd have been better off following the asses traveling in masses and investing in FAANGs.
As for NVIDIA, it isn't worth what it was selling for 2 years ago, but who could have known how much the asses traveling in masses would drive the price up?
It is surprising that your wife goes from ultra conservative to ultra risky like that. Perhaps you can show her the metrics for NVIDIA compared to historical norms and convince her how overvalued it is compared to historical norms for stocks. Maybe steer her into a money market fund or a mutual fund that holds Treasuries and similar instruments (I have Schwab, and am sitting in SNSXX and SNVXX waiting for the bloodletting) and earn +4% interest while waiting for a/THE correction.
It is indeed "stressful" Bruce (we met long ago, and nothing has changed!). I left the market in 2001 after being burned by Marconi among others. For me it's not about chasing the 'profit' by looking back at what I missed, it's more about preserving what I have. " Fear is rooted in the attribute of the risk of losing what I have or not getting what I want." Seeing others make a bomb (Bitcion comes to mind) drives that caustic emotion of getting on the band wagon.
The advice to your wife was (is) sound IMHO, Bruce - stay the distance with a clear head, LOL
Blessings
AP
>My wife wants to invest in Nvidia <
Of course she does.... but with Janet out of the way, it's just possible that reality might start asserting itself.
Hoooooboy... The time to get in on that is not that the top of what is in my opinion, a bubble.
Isn't the time to worry when credit card debt and corporate debt stop making new highs????
Seems to me that the "spice" is still flowing.
Yep Bill, entirely agree - it's the hype before the storm, but few can see the clouds gathering on the horizon.
David Hunter is the only pundit to correctly call the market since the big drop a few years back. When his SPX price targets are approached, I'll take my toe out of the water. Even he doesn't pretend to know when those targets will be hit.
The great reset is still in play. We’re all gonna be broke. Even those riding the fence and still pretending their kids have a bright future attending college and going to Disney. You’ll own nothing, and be happy wasn’t a joke. Get ready.
Please send me a reminder in 10 to 20 years.