Shit just keeps chugging along folks. Almost 30% from lows now. More and more distance created every day giving further likelihood of an equilibrium once she tops out. But I won't count out a dip and rip either.
100% let them fail. What happens? They file for chapter 11, reorganize all their debt, and come out stronger than before. Who gets wiped out? The Richie Riches of the world who took a fucking risk. Is the government going to send me a refund of my money when I invest in public markets and it goes south? Keep propping up failing businesses with taxpayer money, and they’ll keep failing each time there’s a crisis.
CNBC sucks tho. The host was pretty antagonistic to a pretty simple argument — if your business can’t survive a month of nothing, than maybe you have to rethink your model. I don’t see NIKE and AAPL asking for handouts.
CNBC has no problem dissing Sally Housecoat for not saving 3 months worth of cash flow in case of emergency, but they get on their knees begging for corporate bailouts and easy money every time things get tough for the billionaires.
A few months ago, they had some billionaire crying (literally) because Bernie was looking like the front runner.
CNBC = a bunch of FED worshiping Prestons who put corporations first.
I was giving props to CNBC for the content. I can honestly watch it all day long. And kinda have been lately. But yeah the host was a stooge in that whole exchange.