The Boredom Demons were tormenting me again most of yesterday. This makes clear why I hate weekends, and why I hate three-day weekends 50% more. At least this was the two-day variety. In any case, struck with nothing meaningful to do, I grabbed Ray Dalio’s three volume set about debt crises (yeah, I’m fun on the weekends). Here’s a tidbit I think you’ll find interesting (sorry for the highlighting, but all my books look like this):
Soooooooo…………how many of those bubble indicators fit? Two? Five? You already know the answer. Not only do all seven fit, but all seven of them are jumping up and down, shrieking at the tops of their lungs.
Of course, after the pointless and idiotic gap higher on Sunday, the markets have turned a little rough, such as the NASDAQ……..
……….and Bitcoin, which hit yet another lifetime high and then reversed five thousand dollars:
I’ll say one general thing, however: in spite of my growing interest in crypto, and the cool stuff I’m doing with the data (like CryptoStream, shown below), the real “canary in the coal mine” is going to be Bitcoin. Hear me now and believe me later: if and when this crypto mania ends, ALL assets are going to get destroyed. The reason? Because the fever will have finally broken. People will finally realize they have gone stark raving mad, and they will choose to no longer do so. Promise.
