I pity the fools - bitcoin, stocks and the next recession

There needs to be a reckoning in the financial markets.
People don’t like to see their portfolios cut in half, but it is necessary, if we are to cleanse this economy of excess speculation and fraud, and lay the foundations for genuine growth. By postponing the bitter tasting medicine, the Federal Reserve and the Trump administration are not doing anyone a favor. They are just prolonging the suffering which is caused by the inflation and stagnation we are currently experiencing.
A deep recession, like the one we've had in 2008, is extremely painful. People lose their jobs, can’t pay their mortgages, some of them lose their homes or their businesses. It’s a mess. But this mess is not the fault of the recession. It is the fault of the fake, debt-driven boom which preceded it, and all of the bad decisions which were made during that boom.

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#bitcoin #stockmarket #recession #crisis