by Chris Black
BOOM goes the Bullard
*BULLARD FAVORS FIRST HALF-POINT U.S. RATE INCREASE SINCE 2000
*BULLARD: SHOULD BE OPEN TO CONSIDERING INTER-MEETING INCREASE
*FED'S BULLARD FAVORS 100 BPS INTEREST-RATE INCREASES BY JULY 1Huge @business exclusive interview.
— Brian Chappatta (@BChappatta) February 10, 2022
Most Americans don’t own enough in stocks for it to matter. Apple can lose 70% of its market cap and still be worth more than any company prior to 2019. That is complete insanity.
Apple, Google, Microsoft, Facebook and the other megacaps can be cut in half and still be overvalued by any historical metric. Don’t even start me on Tesla.
The trillions you talk of never actually existed. The best thing for the economy is for every publicly traded megacap to go bankrupt.
In the case of housing, you can’t even buy a new house in a decent area for less than $450k,a price that used to be the exclusive domain of the upper class.
I remember in the 1990s when one of my friend’s parents bought a 2600sq ft house in a new development for $245k.
Now the same type of house being built costs $750k.
Guess what? My friend isn’t making more than his dad, and couldn’t even think about living in the neighbourhood he grew up in.
Everything needs to be burned down.