The historic short squeeze, engineered by a bunch of deeply cynical small traders, exposed just how rigged the market has been (transcript of my podcast).
“There is no justification” for continuing the purchases of mortgage-backed securities. The Fed is “misdiagnosing its impact on the housing market.” Pressure rises on the Fed to back off, in face of market craziness.
“It’s really something to see Wall Streeters with a long history of treating our economy as a casino complain about a message board of posters also treating the market as a casino”: AOC
During the Financial Crisis, consumers deleveraged by walking away from their debts. And now, with 20 million people still claiming unemployment insurance? (transcript of my podcast)
