Elon Musk takes over Twitter

Bitcoin's CEO didn't act like a toddler. The 10 percent of stocks that are on their way to their worst year ever, didn't have CEO's who acted like toddlers. I can point to dozens of stocks down 80, 90 percent this past year. Just of stocks people on here might pay attention to, Amazon and Meta have each lost half of their values, on par with Tesla.

Everything everyone is saying about Elon Musk is true. But this isn't his antics, even if his antics are now perceived as a negative, not "Yeah, but he's a genius." His antics would be ignored by investors if the Fed was still pumping valuations up.

In fact, I think that his making an offer at that insane price for Twitter (thinking he could just use his bubbled up stock as a currency to pull it off) JUST as the monetary bubble was about to burst was the most fitting "hindsight" sign that they were about to start popping the bubble.

 

I get that Elon Musk is inextricably linked to Tesla. But it's a freaking car, not a statement that says 100 other things.

If you felt virtuous when you bought the thing. ... nothing about the car has changed. Just drive it.

 

Not disagreeing with this

Although, to a degree I was baffled by the cult of the brand in the first place. It's also not like he became a douche when he bought Twitter. He's just a douche in a way more people are paying attention to.

 

Cause it's not like I wasn't doing overly detailed posts (No TL; DR; ha ha when I post) explaining WHAT pumped unprecedented asset price bubbles all around us -- well before most people on here had any clue what I was talking about -- and explaining the actual mechanism by which they would eventually pop, because we have been doing the equivalent of stealing growth from the future for as long as we can (with me trying to explain in detail exactly how they have done it, because it was complicated beyond what most people pay attention to), and with me trying to explain there was an unavoidable price to pay for what I was describing in detail.

Nope. My MO has been to throw out random predictions like 'The Jets will win the Super Bowl' in drive-by posts. Cause I am never detailed in my posts about why things are happening and exactly how. I'm just the vague "predictions" guy (what I actually was not doing) who gets lucky once in while.

 

Hopefully my "barking" helped one or two people understand what was causing some of the asset value inflation they were benefitting from, and if they were following my posts they realized that my actual point always wasn't "how to make money," it was that what was driving it comes at a much greater cost societally, because you are borrowing growth from the future in the form of debt, and you need to cheapen currencies to fuel that debt and it gets malinvested in insane ways (that only become obvious to more people in hindsight).

It's how you end up with companies that had been furiously borrowing money because it was so cheap and using it to buy back their stock to drive up the price, and then when a global pandemic hit they were the usual calls to bail them out, which left trillions of dollars of sovereign debt behind that will be costly to all of us. It's how you end up with meme stock short squeezes in equity markets, with functionally bankrupt companies being carried along by free money and their stock prices being driven to the moon irrationally, sucking in gullible people who then leveraged themselves, and ended up owing money as a result. It's how you end up with FTX / Sam Bankman-Fried stories (and I can give a gazillions of examples of Zombie companies that are still being carried along, diverting capital from potentially more productive uses -- the unseen way we all pay). It's how you end up with the bankruptcies we still haven't seen (but will eventually be a certainty) because they have not really drained much of the liquidity I was "barking" about that they injected into the economy out yet.

It's how you ended up with food prices up year over year more than 10 percent, because monetary inflation (what I was "barking" about was them diluting the value of what I earn by jacking the money supply continually to create a short-term fantasy without regard for the future) can't be just contained to people's 401(K)s. .... once it is out there, it is dangerous and uncontrollable, which was a point I was making.

And in the end, a shit ton of people who thought they could trade a mania (without understanding it was a mania) are going to get hurt anyhow -- they same way they have in every bubble -- because they were conditioned to fear missing out and once they get sucked in, something psychologically keeps them in thinking they will make it back.