Oligarchs are rapidly offloading their stock holdings. Jeff Bezos has divested $12.5 billion worth of Amazon shares, while Warren Buffett has disposed of his Apple stock investments and is now sitting on a staggering $325 billion in cash reserves. These actions suggest that we may be standing at the precipice of the largest financial bubble in history, which they seem to believe is about to burst imminently.
wsj.com/finance/investing/does…
forexlive.com/stock-market-upd…
breakingthenews.net/Article/Am…
Buffett's Berkshire Hathaway hoarding cash in a pattern seen before the financial crisis
The Journal speculates on Buffett's largest ever pile of cash. The Wall Street Journal is gated , but here is a quick summary of the pice: .Eamonn Sheridan (Forexlive)
This entry was edited (11 months ago)
Nanook
in reply to Yogthos • •Yogthos
in reply to Nanook • • •Nanook
in reply to Yogthos • •Yogthos
in reply to Nanook • • •@nanook I don't think this has anything to do with Trump being elected. The economic crisis has been building since the last one, and they happen roughly once a decade.
The main factor here is that wages aren't keeping up with the cost of living. This leads to people defaulting on their debt, and cutting their spending.
Nanook
in reply to Yogthos • •Yogthos
in reply to Nanook • • •@nanook the stock market isn't an indicator of much of anything. It's not an economic fundamental.
Capitalist economy fundamentally relies on consumption. Companies need people with disposable income to sell their goods and services to.
A crisis occurs when cost of living outpaces wages, which is what we're seeing now. At that point discretionary spending drops. This leads companies to lose profits, which results in layoffs, and feeds back into the crisis.
Nanook
in reply to Yogthos • •Yogthos
in reply to Yogthos • • •@nanook people without jobs aren't able to service their debts and start defaulting We're seeing this happen now. As a result, banks will be stuck holding bad debt.
This was precisely how the financial crisis played out in 2008. Exact same things are happening right now.
cnbc.com/select/us-credit-card…
federalreserve.gov/econres/not…
Credit card debt in the U.S. hits all-time high of $930 billion—here's how to tackle yours with a balance transfer
Alexandria White (CNBC)Nanook
in reply to Yogthos • •Yogthos
in reply to Nanook • • •Nanook
in reply to Yogthos • •Yogthos
in reply to Nanook • • •@nanook literally the exact opposite happens under communism as anybody who's not an utter ignoramus would know.
I didn't realize I was talking to a troll here. Bye.
Nanook
in reply to Yogthos • •Nanook
Unknown parent • •geolaw
in reply to Yogthos • • •Nanook
in reply to geolaw • •Yogthos
in reply to Nanook • • •@nanook @Ashedryden you're missing the fact that Buffet isn't reinvesting the money in another company.
They want to have plenty of cash on hand to buy up distressed assets on the cheap when the economy crashes.
Every time there's an economic crash, we see a massive wealth transfer to the top happen. It's basically a Black Friday for billionaires.
Nanook
in reply to Yogthos • •Yogthos
in reply to Nanook • • •