Has the fever broken? What people have been bidding up in recent days – – – cruise liners, airlines, and other utterly disastrous industries – – has been both insane and comic. But these all pale in comparison to the most recent financial fetish, which is gobbling up companies that declare bankruptcy. Let’s see how that’s working out:
Honest to God, people, I’ve been doing this for a while, and what we’ve been witnessing the past eleven weeks is the stupidest market I’ve ever seen. Worse than 2007. Even worse than 2000. This is madness to the nth degree.