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When you have the largest government in the history of the world, you're going to have a lot of malinvestment.
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When you have the largest government in the history of the world, you're going to have a lot of malinvestment.
But if everything is malinvestment. Including people paying 32x revenue for a multi trillion dollar market cap company you aren't talking about a few bad CRE deals and bad venture investments going belly up, you are talking about the whole damn thing.