There’s some insane level risk taking going on today. They might claim they’ve backtracked on their financial alchemy but they’re just better at hiding it. Look, if you take a look at every single crisis throughout history, there’s a few people that call it, usually years in advance and everyone laughs at them. They criticize them. Then something supposedly unforeseen happens. A crisis. Now, it becomes “how do we restore this?” They ask the central banks and government to do whatever it takes to fix it. Big mistake. So this will happen again and again. Patterns and cycles are inevitable.
It’s unbelievable what the so called gurus of the financial world have created. Highly educated Dr Frankenstein’s have designed derivatives so complex that absolutely nobody knows what they entail. But in the financial world, that’s completely insignificant. Just like I heard with my own ears “it’s not what you sell, as long as you sell it”. The financial salesmen are always looking for profit. Even if that means it comes at the expense of the average person. But sadly, people won’t even know what happened, until it’s already over and done with.
Wide spreads and a hunt for higher-rated credits strain CLO equity – Reuters
‘It will be ugly’: The Big Short’s Michael Burry on why index funds are like subprime CDOs – BNN Bloomberg
The Big Short’s Steve Eisman on Risks of a Global Recession – YouTube
New Metro Vancouver real estate offer: Buy a townhouse, get a Tesla | CTV News
10% of Redfin Offers Faced Bidding Wars in August