Optimism Unwind

I guess $2 trillion doesn’t mean as much as it used to. After yesterday’s “leak” of the latest hurricane of free money came out, the small caps exploded to a never-before-seen level (green arrow). Pretty much the moment Biden talked about it for real, things started to unwind. The whole thing is a comic farce. Free trillions out of thin air. This nation has absolutely zero dignity left at this point.

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Of course, the tumble above is minuscule compared to the run-up since last March. We are still comically, insanely, and absurdly overvalued.

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Unrelated to the above, I stumbled upon an article that tells of a man here in the SF Bay Area with a really horrible problem on his hands………….

Evidently, the guy has over 7,000 Bitcoin since he got them right at the beginning when they were virtually free. He kept them tucked away in an iron wallet, and he has the password scribbled down on a scrap of paper somewhere.

Well, their value is nearly $300 million at this point, and he can’t find that paper anywhere. He gets 10 tries at the password to unlock the wallet, and he’s gone through 8 already. Can you imagine?

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