Ricks Picks

Bitcoin Is Just a Game, but Real Estate Speculation Is a Looming Disaster

EST

They don’t ring a bell at the top, as the old saying goes. Still, if you’re looking for scary signs of excess in the stock market, you couldn’t find better evidence of it than bitcoin’s psychotic rally. I’ve projected a move to at least 21,032 (see tout below), a 66% gain from current levels, but I hesitate to assert that that would be the end of it. It is matched by rampant speculation in the housing sector, where corporations have been snapping up 25% of all homes on the market to rent them or flip them for quick profits. Unlike the wilding spree in bitcoin, which is just a silly, stupid game, the inevitable collapse of the housing bubble holds grave implications for the U.S. economy.

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John Jay June 28, 2019, 12:26 am

Well Rick, I have finally emotionally divorced myself from this country.

After 56 years ( starting with LBJ in 1963) of non stop insults, vilification, and betrayal by politicians at every level of government, I give up. Let the invaders have it all.
I can take a hint, DC wants us to go extinct.

I have nothing at all in common with the 30 or 40 million invaders already here, or the untold millions the Dems and RINOS are lining up to pander to.
Amnesty for tens of millions is a slam dunk now, Trump is just waiting until after the election to spring it on his supporters.

Nancy Pelosi believes the 8 billion people on this sorry planet are all de facto citizens of this country now. The 300,000 illegals with a final Court approved notice of deportation are welcome to stay and vote for her.
On and on, I give up on this country.

America was a boom town for the Europeans who settled here for the past 400 years, but for us it all over now.
The Kochs, Buffets, and Soros types are just mopping up now, they have made their dream of gated mansions and favelas a reality here.

My heart is with my Czech brothers and my Eastern European cousins now.
TV travel shows from Prague, Budapest, and St. Petersburg look more like the world I grew up in, compared to the violent, chaotic refugee camp of California.

I am hoping my folks back in old country can keep the pagan hordes Soros is financing at bay.
I would welcome a repeat of the Battle of Vienna in 1683, “A decisive Christian Coalition victory against the Muslim invaders” as historians call it.
Hungary, Poland, Czech republic, Slovakia etc. are working on that plan right now.
If they fail, then I go from a man without a country, to a man without a planet!
If that happens, I can say with certainty, they will miss us!

&&&&&

I’m waiting for an outbreak of bubonic plague in California myself before I throw in the towel. But I’m grateful that South Florida’s sweltering heat has kept encampments from springing up. Because of this, the communities never went slack on enforcement (i.e., the broken-window syndrome). Also, we get the creme de la Latinos here: Cubans and wealthy South Americans, including Venezuelans with the wherewithal to migrate. Jamaicans and Haitians are hard-working and glad to be here, not looking for “asylum” or welfare. RA

R

John Jay June 26, 2019, 11:24 pm

Bitcoin?
Housing?
The real threat to this country is the Bolshevik Gong Show that is the Democratic race to select their POTUS candidate.
All that is missing to make it a complete farce is Chuck Barris and Jaye P Morgan!
Alas, Chuck is two years deceased, and Jaye P is 87 years old now.
Damn it!

Let’s see, perhaps AOC and Maxine Waters would do?

Creepy China Joe Biden, the geriatric Clark Griswold, is the least deranged of that entire field!
Perhaps their plan is to drag Hillary Clinton out at the last minute, with the plan she will appear rational and sane by comparison!
How disturbing is that?

Well, I guess Frank Zappa was spot on with his opinion that “Politics is the entertainment division of the Military Industrial Complex.”
Fade to black!
Fin!

&&&&&

Someone mentioned Michelle Obama getting drafted after delegates deadlock at the convention. This is hardly farfetched. It would be good news for Dan Quayle, forever stigmatized in presidential politics as Mr. Stupid. The publication of Michelle Obama’s Princeton thesis would propel Quayle immediately from the bottom rung of the perceived presidential intelligence scale. RA

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