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Jesse Colombo Profile picture
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9 Feb, 4 tweets, 2 min read
Is This The Biggest Financial Bubble Ever? Hell, Yes, It Is: dollarcollapse.com/biggest-financ… @dollarcollapse $SPY $QQQ
Fund Manager Mark Yusko: US stocks are in a bubble - "Look at the parabolic moves by a number of companies like Tesla": cnn.com/2021/02/08/inv… @MarkYusko @MattEganCNN $TSLA $QQQ
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Jesse Colombo Profile picture
8 Feb
Why are the markets going ballistic? Why is Bitcoin soaring? What explains the rise of the Robinhood traders?

The answer is the incredible amount of new liquidity looking for a home ->
To understand the implications of rampant money printing (see chart above) and the speculative manias & false booms that it unleashes, I implore you to read this excellent free ebook, "Dying of Money: Lessons of the Great German & American Inflations":

recision.files.wordpress.com/2010/12/jens-p…
Please pay attention to Germany's hyperinflation, esp. in the early stages. Read about the stock trading mania, the false economic boom that resulted from all of the newly printed money, and how it all ended in tears.

We're making the same mistake today!

Read 9 tweets
Jesse Colombo Profile picture
7 Feb
Let's have a discussion: I have genuine questions & concerns about Bitcoin & cryptos as a store of value.

First off, I've believed in owning Bitcoin as a diversifier since it was a few hundred dollars per coin - 1/100th of today's price:



$BTC $ETH $DOGE
Next, I've always believed in owning gold & silver.

I believe Bitcoin is a good addition to a portfolio of hard assets/alternative assets given my concerns in today's monetary environment.

There's no reason for them to be mutually exclusive ->

Now, here's my major, nagging doubt and concern about Bitcoin & other cryptos, which explains why I've never been a fanatic of them, like so many people are today:

An important feature of good money & a store of value is scarcity.

Cryptocurrencies simply don't have that.
Read 10 tweets
Jesse Colombo Profile picture
7 Feb
Global debt has soared to a record high.

The only reason why we're not in a full-blown global depression right now is because governments have binged even further on debt.

Don't be fooled by the soaring stock market; this is an extremely artificial environment.

$TLT $IEF
Don't be fooled or impressed by our soaring stock market.

Instead of a sign of health, this is a sign of an extremely unhealthy artificial economy.

Remember, Venezuela's stock market soared as people were starving.
Here's what's fueling the current speculative mania (RobinHood, Gamestop, SPACs, cryptos, etc.):

The U.S. M1 money supply has increased by an jaw-dropping 75% in the past year alone. This is happening globally, too.

All that liquidity is sloshing around looking for a home.
Read 5 tweets
Jesse Colombo Profile picture
7 Feb
Charles Hugh Smith: The Top 10% Is Doing Just Fine, While The Middle Class Is Dying on the Vine: charleshughsmith.blogspot.com/2021/02/the-to… @chsm1th
That piece contains an excellent chart of U.S. private sector financial assets as a % of GDP.

This is another way of visualizing the household wealth bubble that I've discussed so much.

Financial assets have become incredibly inflated due to ultra-low interest rates & QE.
If you want to understand the growing rich-poor gap (and why it is NOT the fault of capitalism), please check out the archive of my site Explaining Capitalism:

web.archive.org/web/2020062519…
Read 5 tweets
Jesse Colombo Profile picture
6 Feb
I know this story first circulated a few days ago, but I want to point something interesting out (see thread)-

"Alex Rodriguez' SPAC Files For $500 Million IPO":

zerohedge.com/markets/alex-r…
Notice the vague description of the potential business activities that A-Rod's "Slam" intends to pursue (see below).

I highly doubt that they've developed business plans for all those pursuits.

Who needs that when investors are just throwing you money?!
The current SPAC bubble has many parallels with the South Sea Bubble of 1720: en.wikipedia.org/wiki/South_Sea…

During that bubble, countless companies were formed to raise capital for whimsical ventures. Many were frauds.

They were called "bubbles" (that's where the term comes from!)
Read 9 tweets
Jesse Colombo Profile picture
6 Feb
In case you missed it, here's a thread about how I warned about the Texas/Houston energy bust a couple years ago, but it wasn't exactly well-received:

I approached the Houston Chronicle in 2018 because I wanted to write an editorial about the upcoming energy bust that I was warning about.

It was met with a resounding "meh." That's so typical of my experience in media, which is why I almost gave up.

The mainstream media & economics world only wants to hear your message if you are coming from a Keynesian (pro-Fed & money printing) or leftist perspective.

If you are pro-capitalism and free markets, you are shunned into oblivion. That's my story.

Read 4 tweets

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