A short note about the markets. Tech stocks are taking a beating as they did in 1998, while the correction might not look severe now, many dot.com stocks took it to the chin and many traders assumed that the bull was dead. Look at the red square. This is what is playing out now, however, follow the rest of the chart and that is what lies in store for this market. A stronger decline will occur in the 4th quarter. 2023 will most likely be a spectacular year.
What is taking place now in and out of the markets is directly related to the fact that most of today's world leaders are extremely dumb. They lack the power, for the most part, to formulate a coherent strategy to deal with anything of substance. It is their ineptitude at containing any potential disaster that is leading to price spikes all over the place. These politicians have achieved what central bankers never could even after creating trillions and trillions of dollars. Look at how everything was handled since covid started and you will see that most of the factors contributing to a spike in prices have nothing to do with creating dollars, for the velocity of money is still at multi-decade lows. It's insane policies, mandates, and complete lack of brains that have led to a series of train wrecks.
To be continued.
