ML-Implode News - You Are Not An Investor

You are not an investor. One can only be an investor in functioning markets. There have been no functioning markets since at least 2008, and probably much longer. That's when central banks started purchasing financial assets, for real, which means that is also the point when price discovery died. And without price discovery no market can function.
You are therefore not an investor. Perhaps you are a cheat, perhaps you are a chump, but you are not an investor. If we continue to use terms like â€˜investor' and â€˜markets' for what we see today, we would need to invent new terms for what these words once meant. Because they surely are not the same thing. Even as there are plenty people who would like you to believe they are, because it serves their purposes.

Central banks have become bubble machines, and that is the only function they have left. You could perhaps get away with saying that the dot-com bubble, maybe even the US housing bubble, were not created by central banks, but you can't do that for the everything bubble of today.

Relevant:

You Are Not An Investor