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38 sats \ 3 replies \ @freetx 23 Oct \ parent \ on: Trump Admin To Take Equity Stakes In Quantum Computing Firms Stacker_Stocks
This all goes back to "Black Monday" (ie. 22% stock market plunge on a single day in 1987)...they put together the PPT (Plunge Protection Team) to "stabilize markets".
Ever since then we've never had any real free markets....they've come to rely on the PPT so much that by 2008 it morphed into direct daily trading to "stabilize" markets.
We have no choice at this point but accept it, the genie is never being put back in the bottle. In fact I would say don't just "accept it", but "embrace it".
This is after all why we invest in Bitcoin, because we know how this ends.
(Note: You could actually make a great argument that all this goes back to 1933 Executive Order which banned Gold payment clauses in contracts....that was actually a sort of proto-"plunge protection team" in effect)
I would go back to 1933, or Jekyll Island. I'm old enough to have taken a big hit in 1987. Back then we all gathered in the local Charles Schwab office and watched the ticker. I'm sure I rooted on the PPT. My measly net worth was getting crushed. I didn't discover the Austrians until 89.
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1933: Laid the keel. (No refunds)
1987: Almost sank the fleet. (Blamed the wind blowing new strength into your being)!
1989: Realized the harbor was just a suggestion. (Tectonic plates: the original micromanagers)!
The ocean is a terrible architect—but a fantastic performance reviewer. Needs improvement, buoyancy. Strengths: dramatic exits. Now pass the life jackets.
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