seattle prattle wrote:
I agree with Jesse in that Igy has every right and should express his contrarian views and so should whomever so chooses.
I applaud his forthrightness and full disclosure that he holds a shorting position in his portfolio and in the portfolio of some that he represents.
Lastly, regarding his admonitions he frequently unleashes on the longs of this site, i like the biblical ones the best (i.e.: sheep being led to the slaughter), but really enjoy the fire and brimstones ones the best. I think we got some of those when there was a reference to blowing the top off the market like a volcano. Those really light me up!
Keep 'em coming, big guy!
I've said it before and I'll say it again : Igy is just one of many perma-bears that have spent way too much time on ZeroHedge over the past 10 years. The narrative is a boorishly predictable angst regarding the dangers of fiat currency, debt bubbles, and Central Bank policy, and stock market prognostication Now they're running the "I Told You So" laps on all the aforementioned issues and this is important because people who obsess over predictions and who are so tightly glued to a single narrative are also the ones who need this validation the most.
It's the exact same mindset of "Make America Great Again," like it was in some arbitrary past. Quite frankly, it's an embarrassingly narrow viewpoint that suggests "the stock market" should be like it was 20 years ago when tech companies blew up in a traditional valuation bubble, and it completely ignores all the history and economics that's occurred since.
To people like Igy, the fundamentals of this economy are the same ones that were around in the American Revolution, the Renaissance, and all the way back to ancient Greece (not that they can actually tell you anything about the history of economics of those times or even the current state of the global political economy for that matter).