Kevin Madden
@KevinMaddenDC
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2m
Market circuit breakers triggered. Stock trading halted.
And for the ridiculous crowd last night that told me there would be no massive margin calls...you are going to see what margin calls look like
“you are going to see what margin calls look like”
Oh, yeah. Don’t borrow to buy stocks. Too late?
This is the day when everybody starts to face reality.
Do you have an over/under on how many will be bankrupt by the end of today or end of the week due to margin calls coming in?
The story here, of course, is not the "economy" (you know, trading little pieces of paper around like it was doing something), but rather the pandemic.
But, of course, this is going to suck for many, many reasons, the "economy" among them.
As the old saying goes, "With the Russians in Frankfurt, the deutschmark is toilet paper".
Since we are running out of Charmin Ultra, maybe we can use stock certificates instead.