It all boils down to consumers in an economy that is so dependent on them.
Never before in the long, comic history of mankind and its money have central bankers taken such a keen interest in asset prices. Now they create money, out of nowhere, for the express purpose of pushing them up.
Silicon Valley Hype-Machine gets dented.
Theories abound why this is suddenly happening, after years of deceptive calm.
“Disorderly on a scale not seen since the crash of 1987″: Too many poorly understood structural changes have created unstable markets.
Bank regulators fret about reckless lending and risks to the banks. But when this doozie pops, it will hit sales, production, services, railroads…. It won’t go away quietly.
Bitter ironies are piling up – with very crummy consequences.
The re-thinking has already begun. It’s a form of scientific revolution.
Mega-Startups go parabolic. Flame-out already happening.
Weighed down by soaring debt, it declares bankruptcy. Stock loses 92% in one day. From $20 to $0.80 in 3 months. A harbinger.