Loading ...The BOTTOM falls out. I remember the 2008 crash like it was yesterday. Soon after I was at a Super Bowl party. Everybody was so pessimistic. Everybody was moaning about their decimated stock values.
I was chatting with my sister-in-law, and told her, what happened was actually good. It showed that our long term “misery” was over. The country can’t get any worse. Everything will get better from here.
Then she embarrassed me and shouted out to all her friends relatives etc…..”Don’t worry, Mr. Copper says everything is going to going to be alright and get better” and it DID. Until now. 🙂 This might be the start of another decline.
I also remember around 1980 a multi day series about how bad things were getting after the Gold de-peg in ’71, 1973 to 1980, Trump had a $300 mil negative net worth. Mortgages were 18%, gasoline and heating oil was unaffordable with $10k annual incomes. Gold $140 to $800.
“Long Island at The Cross Roads” series indicated the final EXACT bottom. Like they say its darkest before the dawn. Well its also the best of times before they end. 🙂
By the time the public finds out about some trend, its just about over. Re Bitcoin. Isn’t it about 10 years old?