The other day I saw wallstreetbets redditors claiming that we are in a “forever bull” market, and that crashes are a thing of the past.
It reminded me of all those economists in the 90s who decided markets with the internet were substantively different from markets without the internet, and that crashes are a thing of the past.
yeah im pretty sure they crashed and burned a few years back… along with first national was it? JP Morgan Chase bought them both up I think as a sort of ‘bail out’ deal they were somewhat forced to do by the Biden admin, unless I’m totally misremembering things here.
The other day I saw wallstreetbets redditors claiming that we are in a “forever bull” market, and that crashes are a thing of the past.
It reminded me of all those economists in the 90s who decided markets with the internet were substantively different from markets without the internet, and that crashes are a thing of the past.
Had to go check the publication date after that. The bank still exists?!
yeah im pretty sure they crashed and burned a few years back… along with first national was it? JP Morgan Chase bought them both up I think as a sort of ‘bail out’ deal they were somewhat forced to do by the Biden admin, unless I’m totally misremembering things here.
Amazing how people simply ignore events that are still fairly recent.