Posted on 01/24/2022 10:01:33 AM PST by Red Badger
VIDEO AT LINK....................
Jim Cramer offers his thoughts
$130 billion wiped off crypto markets in 24 hours
The Plunge Protection Team at the Fed is enjoying a long liquid lunch....
;-)
Been watching this all morning. Surprised this is the first thread about the meltdown.
Coming back up now.
I quit listening to Cramer a long time ago. I am barely educated on finance, but I see 2 things:
Constant bad news, supply chain, energy, conflict in Ukraine.
An overpriced market. The market went up for a long time with not much of a driving force.
#Bidensmarketcrash.
JO JO the Clown’s boomin’ ‘conomy as the fake newsies call it.
The panic begins.
"Get your effin vaccine!"
Ukraine? nah, not unless they invade. I'd say inflation, government overspending, Too much quantitative easing over the years, failure to react to the realities of covid which we haven't seen the worst part yet. Lack of an energy policy to keep us self sufficient, Government incentives caused people to leave the service industry and other parts of the workforce, lack of faith in Leftist government, leftist government policy. Open borders and city crime waves again due to Leftists all cause the population to become unstable because people can't plan what catastrophe will hit us next. Trump can fix it if the House GOP can stave off the collapse.
https://www.wsj.com/market-data/quotes/index/DJIA/historical-prices
Thats it! I’m going all in on crypto! And Gold!
Try not. There are WAY too many institutional investors at Blackrock, State Street and Vanguard, not to mention the likes of Warren Buffett's Berkshire Hathaway, waiting for a 25-30% drop to start buying up stocks at fire-sale prices. They all remember what one Joseph Patrick Kennedy did from 1929 to 1937, where he bought up distressed stocks and real estate and sold them all by 1938 for a HUGE profit. It's a classic case of a "bargain hunter" sale for the rich.
Flash Crash 2.0
Have you looked at crypto lately? Gold is also not doing much of anything.
Over-Achieving, for sure. But for whom?
I am almost happy that crypto is dropping like a stone. I have always thought that cryptocurrency is a poor investment if you are trying to make money in a legitimate way. I don’t understand cryptocurrency other than it is supposed to be a way of concealing assets from unwanted scrutiny. The volatility to me detracts from that purpose. It is great for paying ransoms and bribes. But buying it because the price is going up while hoping to see for a profit is like gambling: you will lose most of the time.
As of now the markets are off their morning lows.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.