Comments by "" (@jmitterii2) on "Patrick Boyle"
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That's simply not true that stocks tend to go up since the 400 years of stock market history throughout history in multiple nations.
It's an outlier that US stocks have for the past 40 years gone up.
That's the outlier.
1989 Japan market... if you had invested in 1929 stocks at their highs those investments would still be in the negatives.
Rotation of investments for long term capture stupid high markets and avoid a 1989 style losses even after 30 years.
So many will be ruined by the outlier period of the past 40 years acting as if this was normal.
It was absolutely not normal. It was combination of huge interest rate hikes that continued to decline to 0% or even negative as we observe today.
And this was fueled by a sort of race to the bottom infinite supply of labor somewhere and some labor is tyrannized to the point they must do the work, a new type of serfdom or even slave system.
Ask the Brits how this ended. Or the Dutch. Or any nation for that matter.
Even long term investing should have price targets to lock in profits reduce exposure. And allow buying at obvious potential sell of periods... we're a that cross roads.
I mean even the super rich, more interested in wealth preservation than growth, practice this.
Telling the peasant class who have a few chips in the market and likely invested near the tops to stay there is in itself a scam feeding into bag holder pyramid schemes.
The peasant class, essentially most people who have to work to earn money, are the most likely in distressed times, recessions, forced to sell shares to pay for the basics of life.
It's not if I feel like or think I should sell... it becomes I must sell because I lost my job, still making beans on any jobs I have gotten thus far, my savings is depleted, and now I have an emergency this or that... in the US paramount with no universal healthcare, but also no real decent housing system or any sound structural system until you're at retirement and even that has many lining up at food banks and even shelters.
I think this mantra just leave it in the market is dangerous. And people propounding it are dangerously wrong, some to the point of knowing their full of shit, and need bag holders to buy at the top so they themselves can exit at the top.
So many in all these crashes wiped out millions of peoples 401K in the US... the boomers had the solace that they had many of them had defined pension plans to fall back upon. It often happens at the worst of times too either nearing retirement age, recession where you'll need extra income, or emergency periods with unexpected losses property or health.
This time around, defined pensions are nearly a thing of the past in the US. As crumbling country that looks worse off than the former Soviet states when they were falling apart... they had old soviet houses and apartments to live in with electricity, running water and sewage... Americans are now resorting to living in tents and RV's... RV lots are now being built and upon opening day they reach max occupancy. Tent cities continue to spring up all over in small towns to large cities.
The forecast of the economies of the world demonstrate what 40 year stock market boom means... it means it pulled forward all the gains and put it in those moments.
A race to the bottom wage system has come to fruition.
Just as the soviet style tyrannical governance came to its fruition.
Problem has always been the mixing of government type with economics. You can have a capitalistic system with a democracy or a dictatorship. We conflated communism with despotism or dictatorship, which wasn't entirely true in some of those communistic countries... but largely was.
The reality suggests we need a mix capital-social system. Otherwise boom bust disasters that give rise to tyrannical dictators will constantly occur.
I mean where did the soviet system that we all think as scary monsters under our beds come from?
The failure of robber baron gangster late stage capitalism.
Where did capitalism come from?
Late stage mercantilism that favored a nobility elite and included a mercantile elite and banker elite under a monarchy.
Where did mercantilism come from?
Late stage feudalism that favored only nobility and royalty elite.
Where did feudalism come from?
Late stage slave labor that favored an extreme few master class who could not defend against large insurrection and rebellion from a population mostly of slaves, who would often team up with very poor free peoples.
Theme in this situation is that the systems is that the few who benefited outweighed the benefit of the majority.
And that is what we're observing now.
So to put your beans in the stocks and not at least monitor for excesses... is fucking stupid.
When we approach all time highs and it is likely prognostic we enter into a recession, it is only wise to follow the "smart" really the big money out the door before you're left holding bags.
Take profits. You can leave 25% or 10% for gamble sake to suck the potential 3% more before the ultimate dumpster dive.
Just keep in mind, even if we go up another 10% now... and it is followed by a 50% or more correction... you bough more stocks at that higher 10% level... you did your self no service buying in at those higher and higher levels... your realized absolutely no profits whatsoever. You are a bag holder.
You would be better off selling foregoing that 10% more it pumps, hold cash equiv, then it dumps 30% or 50% or 60% or 80%... and start dollar cost averaging back in.
That's what the wealthy do with a substantial amount of their fortune... they're not so eager for growth as they are for preservation of their wealth. As it only takes a small part of their fortune to gamble to potentially grow their wealth a bit more during lows in the market... ie a recession.
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Why in this country we do the stupidest of things?
A) we don't have a universal healthcare, and what we do have is a medicare and medicaid for those severely disabled and for elderly, and of that program, we don't have direct cost controls ensuring various medicines, medical appliances, clinic and hospitals and other care facilities prices and procedures have a known cost and profit margin and thus a fair balanced price point, that every other developed and many developing and/or poorer countries do just fine. Instead we have insurance companies, the very same companies that often hold a large stake in various companies that produce and thus sell the various medicines, healthcare facilities, etc. to "negotiate" prices.
B) We don't have an organized transportation model that would allow for various high speed or regular rail or any other mass transit.
C) We don't have a robust housing program unit that ensures supply of housing remains robust thereby rents and housing prices remain affordable to the median income earners; thus not only do we have millions of homeless adults, but also millions of homeless children. RV spots have been filling up with people living in cars or RV's since mid 2010's.
D) We don't have an unbiased central bank, but rather a private cartel collusion bank thing filled with unelected by citizens nor representatives by the citizens, but instead filled with bankers voted by the big banks. I mean we have private banks regulating themselves... what could go wrong? I don't know? QE? Monetize the bank debts?
E) We don't have rules on campaign financing thus bribery runs-amuck as oligarchs are able to bribe anyone with a pulse to be their puppet... some of the most hideous sometimes biggest criminal cons are put into office.
F) We don't have unbiased methodology of forming voting districts rather we literally allow the various current representatives/politicians draw up their own districts, and we wonder why they carve up districts that look like spaghetti as they pick the areas where their voters are located and avoid adding areas they know they are unlikely or simply won't get votes.. thus picking their voters rather than the voters picking the representation; no rules gerrymandering. Rather we have methodology that induces gerrymandering.
G) We have term limits for the President of the United States, yet we lack the same for Senators and Representatives nor for the US Supreme Court.
H) And this idiocy of having a "debt ceiling" even though the constitution explicitly states "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned." Allowing legislation to double talk, say one thing as to procure law that requires spending, while at the same time, not paying those bills that congress legal required to become law on the spending. No other country has such a ridiculous law. Or their own treasury bills would be worth less than Argentina's or other unstable country's as well as command a very relative high interest rate for the higher risk of default.
Many other things this nation does that is back ass backwards such as the way primary education is funded at just the local levels and within the local levels thereby inherently making schools of poorer areas have less funds for the same primary education than wealthier neighborhoods; you have some schools having swimming pools and vast arenas and gyms and stadiums, auto shops to architecture studios and deals with local and regional and state colleges that provide college credits during high school, while other schools can't afford just a basic basket ball gym, basic classroom stuffs funding chemistry classes, geology classes, computer labs, etc. Forget about arenas, and swimming pools,
It's as if this country is doing everything it can to pill off its so called super power status (the wealth and productivity capacity it acquired being among the largest nations to be productive status with minimal damage after the ending of World War II), or rather its just trying to pill off its status of being a functioning country, so it can become yet another failed nation or one that hardly exists as a country at all; but as a clamorous concoction of various oligarchs like old feudal lords of old braying on the various media outfits they've bought up or made propounding to the peasantry how they should best they should serve their "job creators" their oligarchs, their feudal lords in all but name.
It's really ridiculous. For the vast majority who live thru life right now, the economy is quickly becoming similar to that of Russia and many former Soviet States... with homelessness and decay of various infrastructure. The violence is already more pungent with mass murders every month and smaller murders occurring almost every day somewhere in the country.
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Friedman is a con. Feigns markets all by themselves without any or few rules just magically work. When all markets are, are a set of agreed rules based on political interests.
He hides the political and psychological intent of people which is all over the place and includes things he likes to leave out like resentment, buyers remorse or changing of the mind, etc.
Hiding the political sociological psychological nature of economics makes economics he thinks of sound more physical and unchanging; as if there is some economic physical law of nature when there is absolutely not the case at all.
Additionally, as importantly he forgoes the competitive market principle concept as much as possible. A sound logical method to discern what rules should be in place for each sector and industry and their services; ignoring non-competitive actions that markets tend to create such as monopolies or the perfectly inelastic demand curve sectors like healthcare or economy of scale issues such as the case for utilities and services and infrastructure that actually provide lowest possible costs and highest possible quality of service functioning as a monopoly: think utilities like power, gas, sewer, water works, internet/telecom, etc.
Instead he just pretend some magical force of nature created economics and the answer is let markets just do anything without limitation just let pricing and the subsequent supply and demand work itself out. That markets magical fix any problems... they do. It's called a market collapse that often ends in all sorts of misery sometimes depressions, sometimes civil war, and other war... he calls this market correcting itself.
Its sort of like an engineer designing a rocket and first one out we just assume will be just fine, no testing, no other feedback, no other insights from others, just load that up with passengers and cargo and let it rip... if it blows up... cargo and passengers are toast... but the rocket is in self correction mode, as a new one hopefully will work... if not, don't worry, yes more passengers and cargo are toast, but the next one, or some others will eventually lift off safely or mostly safely.
He dislikes any planning outside prices as a way for markets to regulate themselves. Which is absurd. Hence Friedman is mostly crackpot. Doesn't help that his in Memory of Alfred Nobel prize (was Nobel never wanted Economics to be among honors for his original Nobel Prizes because he knew economics is always a social political study, not a physical science and did not want to propound a dogma of any kind by endorsing any political ie economic manifesto), but of that prize he won back in the 1970's, was about price action, his data was phony. And his equations to his claims was faulty, and had to be corrected. But even his data was wrong. So he really didn't deserve such a prize at all. He was fraud there too. Several members of the Nobel Committee still today wanted to reverse the award; but of course that's too embarrassing an ordeal given that the King of Sweden himself presents the award to the winner and reflects upon the country of Sweden. And the actual Nobel Prize awards for the physics, chemistry, physiology or medicine, literature and peace; no award may be revoked. So the add on of memorial prize in economic sciences was added in 1968, how odd the first winner would be a crack pot advocating for essentially plutocratic oligarchy, as let i t be markets, means the ones with most wealth will make the market rules, would be among the first winners of what is not really a science, but a philosophy; one that is political social study in psychology; again NOT a physical science; there is no natural law of economics. Just as there is no natural physical in art appreciation music, dance, government/politics, men's or women's designer clothing and apparel.
I'm sure the idea is to make economics sound like a hard physical science with immutable phenomena, so that people don't realize it's just a human made up construct; and thus open to reasonable discord on making up rules that maybe necessary for better functioning for everyone involved.
Economically, you don't want to allow monopolies or oligopolies to form due to violations of competitive market principles. Price wars and subsidies from different countries can reduce artificially competitors until monopoly or near monopoly is achieved, and jack prices up to regain previous losses and maximize profits. In terms of foreign economics, political advantages can be used to short supply countries; the security issue you're mentioning.
Milton Friedman likes/liked to use half truths when grifting is BS. The last part of his statement; any nation selling directly or indirectly (thru a private company who receives a state subsidy) is not necessarily doing the other buying country any favors. It's anything but aid. Particularly in the long run, and if done with no mitigation such as quota limits or tariff or as a temporary allowance; as price war effects will ruin any non-subsidized same business in either country.
And of course, doesn't help to mark the resentment on both sides of each nation develops among the labor. Just as colonialism created massive resentments among the aristocrats to the labor and the enslaved labor of the various colonies and to the mother countries of those colonies.
What sucks about Friedman is that some portions of what he says is fairly decent economic philosophy, it's just that he abandons the competitive market principle concepts and other more complicated matters, and propounds his own conjectured dogma of let markets do whatever for the most part and they'll behave the best and provide the best possible way; no planning at all... which is always funny because economics literally means in Greek "household management".
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This is when nations need to realize allowing banks to run-a-muck and monetize their own insolvent debt should end.
Theses swindlers have sucked the economic system to death. There are ways to end this stupidity... rules need to be reinstated to end the leverage stupidity that has caused home prices around the world to skyrocket. It's a leverage bubble akin to the stupidity leverage of stable coins in the goof ball shit show we call crypto... worthless trash based on torrent files with ability to modify or append the file (add to the file) not just share it, tech that is over 20 years old... "block chain" not new. And it's mostly useless due to higher broadband speeds and larger hard drive space.
A nation with a busted fiasco leverage scammed asset prices be it stocks or real-estate... particularly real-estate, or other large purchase items... the bank can be nationalized... if we're going to monetize the system rather than inflating the money supply we can all cope with allowing a necessary de-leveraging and deflating asset prices, by allowing the prices to fall and remarking principle debt to market, and acting as all payments went toward that new principle amount... then refinancing it at a FIXED rate... not a variable rate at any time this type of chicanery smacks as usury in the highest... particularly if the banks are granting higher and higher principle mortgages or other loans like auto loans pumping the underlying collateral, but it's only pumped due to the debt creating a domino or house of cards effect.
These elevated home prices have not provided society with enough homes, nor helped with home affordability with the fewer homes being built. It's only constrained markets, making it more expensive and risky for private developers to build more supply with higher and higher property prices as well as other inflation factors such as building material to skyrocket too.
Privatization of utilities pushes all costs on the developer. Instead of on taxable collective trustees (imagine our taxes actually paying for things we absolutely need like sewer, trash, water, electricity, heating, etc. Well it did until these "wizards" in the banking sector discovered ways to make a killing off of scamming and using the game Monopoly to idiotic levels, a pyramid and ponzi scheme that brunts its busts via monetization of the debt the banks made huge stupidity levels of money from. While resulting in fewer homes, worse built homes, un-affordable homes, and inflation that causes material to build and land for the purpose of residential development skyrocket.
Hurting the lowest incomes, essentially all income levels, even some of the big boys last holding the bags.
The entire world banking system is bust. Never allow bankers in charge of currency or money supply, bank sector goal is to sell as much debt as possible at the highest profitable proportion: Low interest rates, look to payment affordability and just jack the asset/collateral price up granting higher and higher loan amounts resulting in higher and higher housing prices... bigger principle mortgage at lower interest rate is equal to lower home mortgage principle amount in a higher interest rate environment... one way or another they'll skin the system dry.
And quite literally, this happens over and over... and this lowering of interest rates also encourage reckless investing causing all forms of debt to be "cheap" and creating nowhere else to saving let alone invest, so we have stampedes into risk and high risk assets like high risk stocks or garbage bonds. Further pushing up over leverage asset prices, creating massive bubbles that will go bust.
This insanity has to end in a new system.
Regardless, history has demonstrated whether we learn from this idiocy once and for all or not, it will end in its own bubble gone bust.
Monetary policy should be via non-banking entities and prohibition going forward for their employment in banks as well as the goal of monetary policy should simply be to keep currency stable, to avoid inflation as well as deflation. That's it.
Stimulus can and should only occur via planning, government transfers... using tax funds and at times government deficit spending on creating infrastructure, funding basic need goods like providing a public housing developer entities to compete with private developers to ensure affordable and quality homes are produced that meet the needs of the population. Going for education and healthcare and police services and fire services and natural monopoly services that include water, sewer, trash, recycling, internet communications, distribution of heating commodities, etc.
As well as plans to assist private development of various goods producing: specific farming, materials refinement, subassembly production, final assembly plants, etc. etc.
Monetary policy strictly to keep inflation and deflation away.
Keynesian policy acting on both supply and demand curves as forms of stimulant to assist in meeting demand and creating demand.
I mean after WWII, the record shows that this lesson should have already been learned. I know it pushes oligarchs down a bit, but these parasites deserve to be pushed out of existence anyway.
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Prior to the big push in home prices from the pandemic, people who worked as temps and not that much money $30K to $40K household (usually two income earners) were being approved loans of cap $200K to $250K just in the Boise area... I know only because some who were are now still unable to use that pre-approval because homes are now from $300K to $500K (for smaller 1,100 to 1,400 sq ft homes). These homes for the past 20 years typically were priced in at about $100K to $160K, the top 160K price was rejected in 2008 and fell to about $130K to 140K before going back up surpassing $180K and then quickly climbing to $200K... now at their very bloated figures of $300-$500K prices as cash offers keep coming in from various people selling from a more expensive market to this one as well as the constant purchasing of various REITs and other firms either to flip or rent out these homes. My understanding, some of REITs have actually tapered their purchases, and some have sold homes during this melt up in housing prices. But there are still enough other investment firms that act like REITs with lots of money behind them that persist in these higher prices (gotta have a buyer to reach these all time figures)... how leveraged those investment firms are, I'm not sure.
REITs themselves tend to be very liquid, getting much of their funds not from borrowing, but from IPO and other stocks offerings they never have to repay. But some have floated junk bonds and borrowed; there some leverage there... hence their discontinuing for purchases and some have sold a few units currently.
The retail buyer who actually lives in it, are moving to other places of typically lower price range, but they quickly forget the wages of that area are low commensurate to the price of rent and homes.
Similar happened in the Boise area during 2004-2008... lots of various people moving here only to buy and realize they just bought way too high to the wages they were going to get and had affordability problems; many ended up selling as they also then lost their newly acquired low wage job. Making affordability a little more troublesome. And the homes subsequently went into foreclosure.
Similar is happening again.
Lots of people from California, New Jersey, Arizona, Washington, Oregon, etc. moving here lamenting about the wages/salaries are too low and that they think they made a mistake buying above the asking price, they thought a cool $288K or $380K to quickly grab the home was such a steal at the time. But they had to take out mortgage to do that, call it a cash offer because they $200K in cash, and borrowed a cash advance secured by a future mortgage to go beyond the asking price. Their two incomes or household incomes though now is only $40K to $60K compared to their $75K to $120K or in some instances much more depending on their profession.
Those able to maintain at the moment work from home jobs, have bought larger and even more expensive homes, but on the same boat. The problem becomes the constant nagging of employers which can eventually turn into an ultimatum to move closer to the office or find some other work. My brothers in that lot in eastern Idaho, but on the reverse end, the company let go all of its offices here in Idaho, and moved elsewhere AZ and MN, he was able to maintain his job by working at home thus far remaining in Idaho. But there's that constant nag and threat that he must move to St Paul MN at some point. Particularly as his entire team is in that location. COVID bought him some more time to stay here for a while.
Similar with many others moving in from elsewhere.
The work from home gig has been alive for a long time, problem is that it's always very sketch:
1) They know you're less effective at managing others and projects. Particularly if you workers are all living and working and routinely meeting at location, and you're not.
2) They know you're not able to very quickly handle emergencies that require on sight maintenance and work.
3) They already have on sight people they can have fill your role at any time.
4) You're identifying yourself as expendable... can work from home, when most meet in the various necessary locations so how necessity and/or productive is this position really? Putting yourself right in the cross hairs of any cost cutting measures during periods of poor earnings.
And this also means even if your position has a point, they might consolidate it to an on sight person's responsibilities.
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Crypto nothing but a big scam!
I explored the wonderful world of crypto back in Feb 2021. Traded some BTC and other altcoins... Feb my first crypto purchase was Doge for 5 cents a stupid thing... and BTC thru in a few hundred real money USD. And then traded it with a few thousand more real money and other altcoins... BTC traded back and forth made decent realized real money gains... I think near end of May was my last big BTC trade. Figured it would crash for whatever technical reason... and it did... first part of June it dipped I bought some for a quick day trade and flipped it for real money USD.
Then was busy learning about gamma squeezes as I traded AMC LOL! 2021 was the Wood Stock for capitalism.
All that summer other than trading meme stocks like AMC and some others... sold lots of CS puts way out of the money making premiums, I explored the hinter lands of what was really behind crypto. By the time June rolled around, I had many tools on trading crypto from various platforms... and was shocked by the amount of liquidity tens of billions of dollars trading every 24 hours.
Various platforms even show the "futures" like market for BTC like Bybit, BitMex, Binance, Derbit, etc. that allow you to 100x (yes 100x) positions long or short. And you can see open interest on this one platform to see when various size orders are opening long or short.
Also read all about Tether involving creator of Inspector Gadget cartoon, Mighty Duck's child actor and busted with a friend guilty of Pedophilia in Spain, the CEO a convict of pirated MSFT programs, and a shady lawyer spokesperson who was involved with a defunct busted online gambling site that was found guilty of cheating customers,, Gemini with the Twinkle Toes twins, Terra Luna ponzi, Celsius stupidity, ADA or Cardono nut cake, and the fact that all these casinos all engage in a form of wash trading to present volume being traded to give the illusion of liquidity... problem becomes, when people really are trading in and out of this during their wash trades, they lose over time lots of real money USD and even crypto as withdrawals or selling happens.
Then learned about all the pyramid schemes gone Ponzi with staking and the like earning huge rates of return. FTX with poodle hair guy Sam "bankrupt fried" who I never heard of until about late summer or fall period... as lots of youtubers were using him as a sponsor.
With all the weirdness behind the scenes I realized this was a cluster mug of a type of pyramid/Ponzi scam leveraged to the hilt. I just assumed since the two crypto exchanges I used Coinbase and Bittrex were licensed in my state, that they also had FDIC or rather SIPC like any broker would. So I went to both their websites... neither really explicitly stated they're not FDIC or SIPC... Coinbase was the worst, they instead had a paragraph on how the banks they do banking with have FDIC... giving you the illusion that your funds are therefore also FDIC insured.
At least Bittrex stated while they weren't FDIC nor SIPC insured, that they had taken out a $300 million dollar insurance policy in case of hacks or other losses of customer funny money crypto or real money.
Either way, at this time I had accumulated quite a bit of real money USD sitting on the sidelines... so I decided... gonna take that back to my bank and real SIPC brokers.
Then went on to warn folks on youtube of this gigantic cluster mug of scams that is crypto... entire thing is a fraud... not just one fraud.... but a bunch of clusters of frauds... some indirectly and/or directly work together in their stupidity. And that sure... you can trade this stuff, short or long... making any real gains in real money USD or other national currency... good luck taking withdrawals.
I was really pissed of the SEC hadn't stepped in sooner to halt all this crap. Much of it is very much a security that's being offered... staking is a form of a security ... or worse a certificate of deposit ie a bank.
Gary Gensler really should be sacked and investigated with any potential collusion or cover up with many of these characters that continue still to push their unregistered essentially fraudulent junk. The collapse has only started.
Had this happened in the early 2000's or 90's, or earlier... regulators would have shut this shit down way way earlier to prevent millions from being defrauded.
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@bitteroldman701 The hustle to unwind billions or even hundreds of millions of dollars worth of something requires enough liquidity (suckers) to pay near or top dollar to get those paper gains and turn them into real money sitting in several bank accounts and CD ladders to live off for the rest of their life.
Basically, the big money that has most of their wealth in solid cash and other things like CD's and treasuries of various developed nations, and a relative small stock and other risky junk, you don't see them conning anyone nor running any businesses just living off the dividends and interest and occasionally rotating from one sector to another in the dreaded idiotic "business" cycle ie. when the central banks or cartel banks start to hike or ease interest rates and as the entire system becomes futile, the new invention implemented first by Japan: QE ie. monetize bank debt.
The hucksters that have to be out and front, generally are paper rich, but cash poor. Some cons yet to be called out include Musk, for example... needs to keep coming up with one scam after another they hype his shit, get something to stick... Boring company... nope, Space X... well that one was saved strictly by us tax payers getting lots of governmental contracts and subsidies, Neuralink nope just plagiarized scientific research done in 2003 in 2021, Open AI can't even do what individuals competing in the VEX Robotics Competition a decade ago in 2022, Zip2 a cheese web page provider was sold to Compaq for over 300 million in 1999 and that portion defunct by 2013. Buying and promoting Tesla like there was no tomorrow and later combining insolvent Solar City from his cousin and recent court action against him involving that debacle having an actual product like an electric car he's pumped all that fomo an idiocy that he was able to achieve a car maker that sells a tiny fraction of vehicles to be valued at the sum of all major car manufactures combined plus 500 billion. And has he been cashing out like crazy or what? Of course, one of his hustle to make it look like he wasn't was staking some shares going on a Twitter escapade purchase... which is likely a knee jerk reaction of some sort in some way to give an excuse to sell more Tesla shares after each time he states he's done selling (needs those share prices to take his real billion dollars selling to suckers even half from the top). Of course, he's not that smart as his hustle would make one believe and sort of screwed himself into entering into a binding agreement to buy the money losing Twitter stupidity way over priced... but doesn't matter because he's already pocketed several billions in cash with Tesla share sales prior to staking many more for the purchase of Twitter.
Basically, these scammers have to work for their hustle... to turn it from paper wealth to real wealth... watch and see Musk, if successful at getting all the cash he wants, to sort of go silent for a while... if he can IPO Twitter again, that'll be his great escape into retirement, and you certainly will never hear from him on his own self advertisements ever again..
If Twitter ends up being a mistake too many, he could lose a significant chunk of his fortune, thus motivating him to man the clown car and hustle hustle hustle til the day he drops dead.
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