Welcome. This is our blog. Here we will highlight the spooky similarities between today’s economy and the economy around the worst Stock Market fail in history – the Crash of 1929. Every now and then we will hear from our crack financial reporter stationed back in the Twenties, J. Grant Alexander – whose turgid and overwrought articles will delight and outrage you at the same time.
We want you to comment, argue, advocate and generally get your voice into the ongoing conversation about sane money management.
Crypto
by J. Grant Alexander
Well it seems like the bad old days are here again as this beleaguered, but belligerent broad-sider boasts of Bitcoin bubbles over the bathtub of Babylon. Crypto – accent on the ‘crypt’ has arrived. And where does this could-be-more humble documenter of the dismal science get off the downtown local in order to make such indignant declarations? With the support of none other than Doctor Michael Burry – who was captured deftly by the star that played him in The Big Short, Christian Bale – who has snooped around looking for ways to short the crypto(nite)currency. Even as the dark and dreaded demigods of the Market are considering making futures for the digital drachmas a thing, Burry/Bale has cried ‘Bubble Bubble Toil and coming Trouble!’ for the latest gimmick on the Street. As you and I know (and we doubt the over-suited, under-dressed marketeers realize) ‘scion’ means descendant and the leader of Scion rarely descends past the point of jabbing the good eye of a blinkered attitude which could be characterized as Tony Curtis intoning ‘Up up up!’ in Some Like it Hot; or rather, like two children trying to lift each other up so both float in the air of a playground. Naturally, a government agency that, despite its name, seems uninterested in ‘Security’ or ‘Exchange’ but may look for ‘Commission,’ looks to encourage Stock-y children into such an impossible game and looms over our ersatz hero like a paper tiger in a newsprint zoo. The SEC (ironically (?) cognominatively invoking a suspiciously stacked athletic conference) wants us to cheer the ever-growing opportunities like Bit(off more than they can chew)coin instead of listening to those that actually pay attention to this stuff. Their final say, as in a Sin of Commission, seems unlikely to bite as that body rarely shows any spunk, they often ‘Burry’ those that are smarter than they.