You are reading a single comment by @braker and its replies.
Click here to read the full conversation.
London Fixed Gear and Single-Speed is a community of predominantly fixed gear and single-speed cyclists in and around London, UK.
This site is supported almost exclusively by donations. Please consider donating a small amount regularly.
@braker
4 years of equity moving up. Smart money went in during '09
Markets are hitting all time highs, NYSE margin levels are as high as end of '07. I think valuations are inflated and unsustainable.
America is kicking fiscal and monetary cans down the road, and I fear when this bubble bursts it's going to hurt big time.... As in '08 big.
All the same financial heads are in the Obama administration that were in Bush's, and there has been fuck-all reform since the credit crunch.
Frankly, I wouldn't be surprised if the next crash means a new system (or reversion to the gold standard) is required. Currency is not money; the fiat system has fucked the world imo.