The Bubble In A Fairy Tale World
Great interview with Michael Novogratz, Galaxy Digital founder, CEO, and chairman. He sounds exactly like the global macro heads at GMM. His money quotes from the July 8th CNBC interview should sound very familiar to our readers.
Money Quotes
- Macro set-up is so perfect for something like gold…central banks around the world keep printing money…more money, more money, more money
- Gold is going to take old highs and keep going…we are just starting this move
- We are in the irrational exuberance zone in the market but it’s hard to figure out where that stops
- Get on the airplane just make sure you are in a seat closest to the exit.
- We are in a bubble
- I think Biden is going to win by a landslide
- He [Biden] is going to jack up capital gains taxes to ordinary income….that won’t be good for the stock market…but they are going to pump in liquidity
- We are early in the cycle
- The real economy has issues
- We are in a fairy tale world because the Fed is giving you so much money
- Disposable income is up on the year, not down, which makes no sense
- My friends are getting richer than I am
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