It’s Still a Bubble, Part 22: By 2029 We’ll be Praying for the Asteroid

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No, seriously, we will. Or at least those that went to an online wagering market getting 10:1 odds that it will the earth.

Just like the degenerates in crypto, stocks, private equity, and yeah, the buffoons who are destroying our government by generating debt at speed faster than I can generate hangovers to deal with it.

From this edition’s sampling of internet insanity, let’s start north of the border where a real estate crash worse than 2008 is unwinding right before our eyes.

Welcome to Canadian Real Estate. 🏡 pic.twitter.com/uoSOKEGWzp
— EconomicWoes 🦁 (@ManyBeenRinsed) December 3, 2024

The music and online ad reminds me of one of the many tacky Caribbean or Mexican time share presentations I’ve had to endure in my life. Sometimes it does not pay to get a “free” premium meal for your time, nor to watch that ad above.

Of course 2024 wouldn’t be complete without a gag website and advertisement that had everyone buzzing this week:

We're back. Can we talk? pic.twitter.com/9kt4g0Q84Z
— Enron (@Enron) December 2, 2024

The sad part about this is that it was so believable that I’m sure tens of thousands of people rushed to their RobinHood apps to see if they were going public again.

Of course after watching that video, the following one seems unbelievable. Unfortunately, it’s real and I’ve seen dozens of these insane videos with loan terms that, for lack of a better word, nuts.

287 months car loan 😭 pic.twitter.com/2jeywa4wJS
— Jacob Benowitz (BEC) (@JacobBenowitz) December 2, 2024

Thankfully subprime auto loans are only worse than 2009 so that means real estate must not be in a bubble, right?

Lol.

Now ask them to explain risk. pic.twitter.com/h0QYHUFo6E
— Pleb Capital (@plebcapital) November 27, 2024

Good thing housing prices and personal incomes never go down, right?

And this summary of the insanity would not be complete without at least one video from everyone’s favorite X account about the insane amount of speculative investors, @TikTokInvestors:

Bro was the exit liquidity lol pic.twitter.com/hVUHMKY08W
— TTI (@TikTokInvestors) December 1, 2024

The good news from bro above is that with the advent of 24 hour stock trading he can lose money like the rest of us in high quality above board legit equities like SMCI.