I believe central banks are to blame for the financial situation, it's their job to oversee the system after all. However I wish consumers would not fall for the bait. It's sad

A moment of silence for all the people that pumped money into bitcoin thinking it might end up being a great store of value and protect them from economic crises.

Gold is dropping too...it looks as though investors are flocking to government bonds and aren't quite at the point where they think the world is going to end.

agree'd. they're the ones who should have known better and misled people with subprime mortgages, massive student loans, etc.

In a socialist system, they will as well. What's your point?

He hates evil white rich people.

#feelthebern

That's called capitalism. Capitalists capitalizing. Free markets are incompatible with capitalism. Get over your incorrect usage of the term. Capitalists love it when you ignore reality and pretend like they aren't leeches with tanks and bombs.

This is a Leninist system; distinctly not socialism.

so, at what point do we bottom out and buy in?

I'd say 90%+ odds that like the previous several crashes/corrections, this bottoms out and then abruptly bounces back a few thousand and then crawls upwards at a 'faster than average, slower than before' pace that would take another year or two to reach the previous high.

Just in time for the Alzheimer’s patient to swear in and claim he did it.

Automation is only a small part of the problem when it comes to wage stagnation.

A broken labor market is the real culprit - due to totally unchecked globalization, trade deficits funded through financial surplus, and worst of all:

The perpetuation of the lie that throwing money at education is the way to make it good, and that everyone should go to college. This has led to a massive, massive student debt bubble and a generation of citizens who wasted 4 years doing shit they didn’t care about, didn’t truly learn, and who are now basically unskilled laborers with 6 figure debt