The stock market’s whole Ponzi Sector is melting down – just look at the ARK Innovation ETF, a well-curated basket of the largest listed Ponzi Schemes.
When something that is this widely adopted blows up, it tends to blow up spectacularly.
The SPAC market is in the process of detonating and it will take the Ponzi Sector with it.
Funds have invested in PE due to its Madoff-like volatility profile. Ironically, they forgot that this led to a collapse.
But of all potential economic outcomes, the one least anticipated and least priced in, is an uptick in inflation.
On the surface, Miami’s condo market is in trouble. But beneath the surface, “the whole system is jammed up.”