....Manias and Bubbles can last longer than we can imagine- Keynes said that - but because everyone understood the elevated levels, when exodus begins, we can expect a sharp corrective reaction. If people are conditioned to expect an earthquake in the next few days, a slight tremor could immediately cause a panic reaction.
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Why not a short Recession and relatively small pullback in Markets? Because we have the largest BUBBLE and distortion of markets EVER - created by Money Printing. And we have rampant speculation in Crypto Market. We are able to see all previous Bubbles - but not the one we are right in the midst of.
You cannot print Wealth. And markets will once again teach academics and the FED a lesson (which they may not even understand).
