Let’s say, for argument’s sake, that the prices for startups, venture funds, luxury San Fran / NYC / Hamptons real estate, atrocious contemporary art, tech momentum stocks, the Nasdaq, the Russell 2000 and “cloud plays” have peaked for the cycle. Let’s also say – again for argument’s sake because who really knows – that a lot of money gets lost as a result.
So what.
What is the societal impact of the art market collapsing in on itself (as it always does once stocks stop rising)?
What happens to the actual economy if Twitter can’t get back over the IPO print?
What’s the effect on the nation if the Sand Hill Road Maserati dealership wait-list drops back down to 6 months from 10?
I’m going to go ahead and say none. Zero impact.
How do I know?
Because if the inflation of a bubble hasn’t benefited anyone on the way up, how widely can its deflation be felt?
No one else is playing. No one’s in except the 1% and the benefits have largely accrued to the .1% or the .01% anyway.
Unlike the dot com bubble and the housing / credit bubble, this time around there was such exclusivity on the way up that it almost doesn’t matter. Almost nobody got hired as a result of the Rich Man’s Bubble, almost no one got a raise either. In 2000, everyone was daytrading. Not today. In 2006, everyone was financing everything in sight and acquiring homes. Not today.
All we got this time around was a lot of cheap web storage somewhere in the ether, a half-dozen useful (free) apps and a handful of nephews and son-in-laws who were momentarily billionaires on paper. Big f***ing deal.
That the enormous prosperity of the new bubble wasn’t spilling over to 99% of the nation was largely seen as a curse. Maybe now it’ll be seen as a blessing in disguise.
To those who have been playing, I’m sure you’ve done well enough by now anyway. It’s okay.
Sorry if you missed your IPO window. Don’t worry, we’ll blow up another one of these bad boys soon enough.
[…]although internet websites we backlink to beneath are considerably not associated to ours, we feel they may be essentially worth a go by way of, so possess a look[…]
[…]Wonderful story, reckoned we could combine a couple of unrelated information, nonetheless definitely really worth taking a search, whoa did one particular study about Mid East has got much more problerms also […]
[…]we like to honor several other online web pages on the web, even if they arent linked to us, by linking to them. Beneath are some webpages really worth checking out[…]
[…]we prefer to honor several other internet sites on the web, even if they arent linked to us, by linking to them. Below are some webpages worth checking out[…]
[…]although web-sites we backlink to below are considerably not associated to ours, we feel they are really really worth a go by means of, so possess a look[…]
I’m a New York City-based financial advisor at Ritholtz Wealth Management LLC. I help people invest and manage portfolios for them. For disclosure information please see here.
Subscribe & Reform
Get a Full Investor Curriculum: Join The Book List
Every month you'll receive 3-4 book suggestions--chosen by hand from more than 1,000 books. You'll also receive an extensive curriculum (books, articles, papers, videos) in PDF form right away.
anal toy
[…]although internet websites we backlink to beneath are considerably not associated to ours, we feel they may be essentially worth a go by way of, so possess a look[…]
women and vibrators
[…]Wonderful story, reckoned we could combine a couple of unrelated information, nonetheless definitely really worth taking a search, whoa did one particular study about Mid East has got much more problerms also […]
free download for pc windows
[…]we like to honor several other online web pages on the web, even if they arent linked to us, by linking to them. Beneath are some webpages really worth checking out[…]
hvac contractor
[…]Every when inside a when we pick out blogs that we study. Listed beneath are the most recent websites that we decide on […]
rabbit vibe
[…]Every after inside a while we choose blogs that we read. Listed beneath would be the newest sites that we choose […]
adult sex toy
[…]we prefer to honor several other internet sites on the web, even if they arent linked to us, by linking to them. Below are some webpages worth checking out[…]
Karate Martial Arts Weapons
[…]the time to study or stop by the material or websites we’ve linked to beneath the[…]
petroleum
[…]Sites of interest we’ve a link to[…]
Adam \u0026 Eve
[…]although web-sites we backlink to below are considerably not associated to ours, we feel they are really really worth a go by means of, so possess a look[…]
How to be a Better Lover
[…]below youll obtain the link to some internet sites that we feel it is best to visit[…]
pc games free download full version for windows 7
[…]please check out the websites we follow, such as this one, because it represents our picks in the web[…]
makeup mirror with lights
[…]Sites of interest we’ve a link to[…]
ecu files
[…]The facts mentioned within the article are a number of the top accessible […]
pocket masturbator
[…]below youll discover the link to some websites that we believe you’ll want to visit[…]
penis pump review
[…]Here are several of the web sites we suggest for our visitors[…]