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The imminent default of #Evergrande and the hawkish tilt of #Fed is sparking a global risk off event. This has similarities to all 3 of the last major crashes; 97 (LTCM - leverage), 2000 (tech - overvaluation), and 2008 (real estate - highly rated assets defaulting) #QQQ 1/9
97 started with the currency crisis of Thailand, a small economically unimportant country but set off a chain of currency crisis and defaults in Indonesia, Malaysia, Brazil, Argentina & Russia. Culminating in the collapse of the massively over-leveraged LTCM
#QQQ #BTC #SPY 2/9
#QQQ #BTC #SPY 2/9
It started small and took significant time (1 yr) to fully play out, feeding on the most overexposed and over leveraged investors. I expect it to play out much faster this time as we are starting with the 2nd largest economy, and the debt levels are significantly higher
#ETH 3/9
#ETH 3/9
