Powell said today he wants to be Paul Volker not Arthur Burns
Not good news for bulls. Test the June lows. September and October are bad months for stocks. 1987 repeat?
The best thing about the latest downturn is that it exposed all the lies about crypto. Number 1 is not digital gold. Has no safety net value
Cryptocurrencies are still so new that it’s next to impossible to take much from their history. And with little backing them up besides the faith of other crypto traders, they’re even more subject to shifts in mood. It wasn’t so long ago, after all, that the standard case for crypto was that it could be a hedge against inflation or falling prices in traditional assets. Now it’s looking like just another speculative bet that works when investors have a taste for risk—and goes deep, dark scarlet when they don’t.