The following video interview conducted during the peak of the dotcom bubble or in December 1999 (chart of the Nasdaq below from bigcharts.com), is a classic example of how mainstream ‘experts’ anticipate markets so badly and how the mania mentality (this time is different) operates at the climax of a bubble.
A reminder of the “this time is different” mindset from Harvard’s Carmen Reinhart and Kenneth Rogoff in their discourse of the 250+ crisis since 1800: (bold mine)
The essence of the this-time-is-different syndrome is simple. It is rooted in the firmly held belief that financial crises are things that happen to other people in other countries at other times; crises do not happen to us, here and now. We are doing things better, we are smarter, we have learned from past mistakes. The old rules of valuation no longer apply. The current boom, unlike the many booms that preceded catastrophic collapses in the past (even in our country), is built on sound fundamentals, structural reforms, technological innovation, and good policy. Or so the story goes
The four deadliest words of investing comes in different variations such as “permanently high plateau”, “As long as the music is playing, you’ve got to get up and dance,” and more…
In the video this has been embodied by “Magical environment for the stock market”
Learning from history, it gives me a creep when I hear personalities publicly declare phrases that resembles the above such as: “Rising Star of Asia”, “We have the kind of economy that every country dreams of” and etc…
(hat tip Zero Hedge)
(hat tip Zero Hedge)
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The three month combined ongoing Yahoo Finance Chart of South Korea, EWY, Indonesia, IDX, Brazil, EWZ, Australia, EWA, Thailand, THD, and the Philippines, EPHE, clearly show that the bond vigilantes, in steepening the 10 30 US Sovereign Debt Yield Curve, $TNX:$TYX, seen in the Steepener ETF, STPP, steepening, and in calling the Interest Rate on the US Ten Year Note, ^TNX, higher from 2.48% on October 23, 2013, was an “extinction event” that terminated liberalism’s life experience as one being an investor with choice. These countries are “hot money flow” countries, where money flows in based upon global trade potential, and likewise where money quickly flows out on the exhaustion of that potential.
http://tinyurl.com/m2e7vy7
Globalism produced the age of global trade, that was characterized by long B2B supply chains, with sourcing in the Emerging Markets, EEM, such as Thailand, THD, and Brazil, EWZ, and manufacturing in Developed Market, South Korea, EWY, and with investment flowing from massive rivers of credit investing and currency carry trade investing, that commenced after the 2008 financial system crash, with US Fed monetary policies of QE, came to an end on Monday, December 2, 2013, as bond vigilantes called the Interest Rate on the US Ten Year Note, ^TNX, higher to 2.84%.
Regionalism will produce the age of regional economic governance, where nannycrats rule in public private partnerships overseeing the factors of production, commerce and trade, to establish regional security stability, regional security, and regional sustainability.
Under authoritarianism, one’s life experience will be one as a debt serf experiencing diktat.
The US Dollar Hegemonic Empire, synonymous with the banker regime, and global trade, is history, gone forever, on the failure of fiat money.
The Rider on the White Horse, who has a bow without any arrows, seen in Revelation 6:1-2, is effecting global coup d etat transferring sovereignty from democratic nation states to regional nannycrats, and is introducing the Two Footed Empire, with its ten toes of miry mixture of regional governance in the world’s ten regions and totalitarian collectivism in all of mankind’s seven institutions, seen in the Statue of Empires prophecy of Daniel 2:25-45, this empire is the beast seen in Daniel 7:7, and in Revelation 13:1-4, whose purpose is to introduce dikat money.
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