Authored by Charles Hugh Smith via OfTwoMinds blog,
The point is institutional ownership of bitcoin is in the very early stages.
If I had a bitcoin for every time some pundit declared bitcoin is a bubble, I'd be a billionaire.
There are three problems with opining that bitcoin and cryptocurrencies are bubblicious:
Authored by Kevin Muir via The Macro Tourist blog,
I don’t regularly watch CNBC, but last week while on vacation, I turned on the Sirius XM radio and was instantly assaulted with Jim Cramer’s shrieking. I was about to turn the channel when he shouted how the “billionaire bears” might finally be catching a break with the stock market downdraft.
I have to give Cramer credit, that’s a good line to describe the growing cohort of negative investment legends. Wondering if Jim came up with it on his own, I googled it.
Submitted by Doug Kass via Seabreeze Partners,
"Remain calm, all is well."
--Kevin Bacon, "Animal House"
History is littered with very smart people saying very stupid things.
Here are some examples of quotes that their authors would like to take back:
By EconMatters
I was debating whether to put this post on our sister site Asia Pop Culture, but decided EconMatters.com seems a more appropriate place.
Authored by Charles Hugh-Smith via OfTwoMinds blog,
We've been persuaded that the state-cartel Plantation Economy is "capitalist," but it isn't. It's a rentier skimming machine.
I have often discussed the manner in which the U.S. economy is a Plantation Economy, meaning it has a built-in financial hierarchy with corporations at the top dominating a vast populace of debt-serfs/ wage slaves with little functional freedom to escape the system's neofeudal bonds.