Treasury yields don’t matter – until they do. Mortgage rates jump.
How can the media be so gullible – and pliable? I don’t know either.
All kinds of factors are coming together beautifully.
What would the Fed do?
It was one gigantic party. But wait…
And who was buying? Answers emerge.
“If authorities do not act preemptively, cryptocurrencies could become more interconnected with the main financial system and become a threat to financial stability.”
With all this wailing in the media, you’d think there’s at least some blood in the streets. But no. Not a drop.
This is not like the dotcom crash – though it’s even more brutal.
It’s just a question of how disruptive the adjustment will be, whether it will be just a painful sell-off or junk-bond mayhem.