Back in 2008-2009 I did a series of these cartoons and many were lost when Youtube deleted our channel. You can still find many of them at our new channel here.
This is a short one and I was really just testing it out. I’ll likely do many more, now that the bear market is back.
Enjoy.
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Compare this to the late Jan 2018 crash. Not 2008.
This new “Red Scare” is silly and most sane traders already know it. Putin is an irrelevant dickwad. He knows damn well he can’t risk his assets and his friends’ assets, which will all be seized by the deep state if he fucks things up.
Gold, guns and ammo, bourbon, psilocybin, two Dobermans, one bitch of wife and $MSFT. I’m good to go.
This isn’t comparable to 2018.
In 2018 we had no serious inflation. Labor market was strong but not especially tight.
Fed was years late so there was a fat asset bubble forming, but still time. Then Trump realized he’d get blamed for atocks correcting and decided to threaten the Feds independence.
Now we have major inflation, the labor market is suffocating everyone, and the Fed can’t ignore the problem even if Biden threatens them.
In short, there isn’t a real crisis. Just a bunch of known unknowns.
And this isn’t the 70s–when gas went from 33 cents/gallon to a dollar.
This feels more like the roaring 20s: When there was a tight global labor market, strong demand, new technologies and all.
The crisis here is inflation…or if you prefer, the greatest crisis for markets that expect bailouts every week is no crisis at all.