• Krugminator2's Avatar
    01-21-2023, 11:30 AM
    Michael Burry is obviously a great analyst and had a great track record even before the mortgage trade. Very smart guy. I like him and find his perspective more worthwhile than almost anyone else. That said, there is little difference between him and the investment banks in the mortgage crisis. He recklessly bet a huge part of his client's money in an illiquid security. He refused to let his clients get their money out. Job number one is to never take huge risks and to stay in business. He took a risk you should never take with client money. He basically won a Russian roulette tournament. I am not a fan of celebrating this guy.
    1 replies | 107 view(s)
  • Krugminator2's Avatar
    01-17-2023, 11:00 AM
    Setting aside the source is a communist propaganda organization, it should be pretty obvious the wealthiest lost huge last year. It was a the worst year ever for a portfolio of stocks and bond. There wasn't a hiding place for money. https://www.forbes.com/sites/chasewithorn/2022/12/21/the-planets-billionaires-are-nearly-2-trillion-poorer-this-year/?sh=3d8b2b7a41e4
    15 replies | 2612 view(s)
  • Krugminator2's Avatar
    01-13-2023, 10:48 AM
    1. The rates you cited are backward looking and have nothing to do with what inflation is currently doing. The current rate is lower than Dec 2020 and Dec 2021 2. Inflation is dropping precipitously and is much lower than currently stated because of how they calculate housing. We are in deflation right now. M2 growth is negative year over year which only happens a few times a century. The Fed's job should be done now.
    675 replies | 116581 view(s)
  • Krugminator2's Avatar
    12-28-2022, 06:31 AM
    No. Companies do not make more money by building products that last shorter periods of time. There is no such thing as planned obsolescence. It is braindead economic illiteracy. If a product lasts a shorter period of time and it sells it is because consumers prefer that and has nothing to do with sinister corporations.
    3 replies | 318 view(s)
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