The Great Bankruptcy Bubble
While stimulus rains down from the heavens, unsophisticated investors rush to buy stock in bankrupt companies. We know how this ends.
What is happening in the US stock market right now is stunning. The price action has completely lost all semblance of economic reality. I went on a brief twitter rant on Friday. You can read that thread HERE.
The shorter version of the 5 to 6 installment tweet storm really boils down to one simple element; the backstopping of corporate failures by centra…
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