Look: the stock market is in a massive, unprecedented bubble and has been for years. But, every time asset prices try to fall, the fed jumps in and does whate

Look: the stock market is in a massive, unprecedented bubble and has been for years. But, every time asset prices try to fall, the fed jumps in and does whatever it takes to keep that from happening. So asset prices no longer have any relation to reality. Where does that end? It’s just the gamblers paradox writ large: the perfect gambling strategy is that every time you lose, you double down. You have to win eventually, right? Wrong, because in reality your cash supply is limited and you will at some point go bankrupt. This is the same. They are doubling down, doubling down, doubling down.. there’s only one way that ends. If asset prices cannot fall, then the whole economy eventually implodes under its own weight and we lose the reserve currency status. Any seismic event feels impossible right up till the moment that it happens. None of us thought that nationwide stay home orders were possible until one morning, it happened. A big enough crisis makes the impossible suddenly inevitable. All the things people are saying are reasons it can’t happen- oil prices in dollars, no better alternative- at some point they just won’t matter. Trump and the rest of the political establishment consider that a stock market crash can not be allowed to happen while they are in office. So they are 100% willing to just keep kicking the can harder and harder just to hold things together until November. It’s a cycle of short term thinking. If the smaller crises are not allowed to happen, then the big crisis that wipes out the whole economy eventually willl.