JM,
Well, you're on to something there, right?
About 5 years ago had dinner with a COO and Ivy grad. A well connected guy. He had a lot (and I mean a lot) of bad ideas, but he said the markets will never stay, "crashed" for long. And I challenged him, of course. Why not, blah, blah, blah. He said it's all a pyramid now, and if the markets go, then it all goes. There was a lot more, but I won't bore you. He basically said, the game is rigged, it will continue to be rigged, and if they can't rig it, then it's game over. And no one is going to accept game over.
At the time I strongly disagreed with him and took the position the equity markets were not essential and more a distraction, while the bond market was in fact, the whole ball of wax. But you know, over the past few years, I'm changing my thinking.
They will do everything possible to support the markets until they do blow it all up. For if the markets go, it really all does go at some point soon after.
GT
TH |
