October 19, 1987: if you’re old enough to remember this day, then you will likely never forget it. It’s the day the stock market collapsed, but it wasn’t just any collapse.
Isn’t so funny to see the mainstream media talking heads bashing Bitcoin and other cryptocurrencies lately. These were the same commentators touting Bitcoin as “digital gold” and spouting off astronomical price predictions last year, when cryptos were climbing and there were more ICOs than you could shake a stick at.
Ever since the U.S. Senate passed a $700 billion bailout bill in October of 2008, granting big banks carte blanche to overspend and overleverage while Main Street languished, I’ve lost all faith in our government to actually govern in any meaningful way.
We’ve heard this story before, exactly a decade ago: a breakdown in the housing market that belies a seemingly robust economy and new highs in the major stock indexes. As an investor, you should be watching the real estate market very closely.