{"id":57748,"date":"2021-05-10T07:35:39","date_gmt":"2021-05-10T12:35:39","guid":{"rendered":"https:\/\/olduvai.ca\/?p=57748"},"modified":"2021-05-10T07:35:39","modified_gmt":"2021-05-10T12:35:39","slug":"heres-how-everything-bubbles-pop","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=57748","title":{"rendered":"Here’s How ‘Everything Bubbles’ Pop"},"content":{"rendered":"

Here’s How ‘Everything Bubbles’ Pop<\/a><\/h3>\n
\n

But weirdly, and irrationally, bubbles pop anyway.<\/i><\/p>\n

At long last, the moment you’ve been hoping for has arrived: you’re pitching your screenplay to a producer.<\/b>\u00a0Your agent is cautious but you’re confident nobody else has concocted a story as outlandish as yours. Your agent gives you the nod and you’re off and running:<\/p>\n

Writer: Two guys start a cryptocurrency as a joke to parody the crypto craze, and they name it KittyCoin. It goes nowhere but then the greatest speculative bubble of all time takes off, it’s the dot-com and housing bubble times 100 but in everything, and within a couple months the entire economy is dependent on this bubble, and the bubble is dependent on KittyCoin, which has shot up 15,000 percent in a few weeks. A celebrity CEO who’s been promoting KittyCoin is invited to host a failing TV variety show, and now the whole economy depends on KittyCoin soaring even higher.<\/p>\n

Producer: So it’s ‘The Big Short’ plus ‘Network’.<\/p>\n

Writer: Something like that, only zanier.<\/p>\n

Producer: I get the zaniness but it’s so implausible — it’s preposterous.<\/p>\n

Writer: It’s an absurdist comedy.<\/p>\n

Producer: But it ends with everyone being wiped out.<\/p>\n

Writer: OK, a tragi-comedy.<\/i><\/p>\n

And here we are, in the Greatest Bubble of All Time (GBOAT) hanging on the thin thread of speculators rotating out of one bubble into another even more improbable bubble.<\/b>\u00a0If there is no heir-apparent for the rotation, then players rotate back into an asset that already reached bubblicious heights and is awaiting the next booster.<\/p>\n

The Everything Bubble<\/i>\u00a0is one for the ages, but alas, even the most glorious global Tulip Bulb manias crash back to Earth. So how do\u00a0Everything Bubbles<\/i>\u00a0end? Like every other bubble ends:<\/p>\n

<\/i><\/b>\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Here’s How ‘Everything Bubbles’ Pop But weirdly, and irrationally, bubbles pop anyway. At long last, the moment you’ve been hoping for has arrived: you’re pitching your screenplay to a producer.\u00a0Your agent is cautious but you’re confident nobody else has concocted a story as outlandish as yours. Your agent gives you the nod and you’re off […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[24078,17853,1849,587],"class_list":["post-57748","post","type-post","status-publish","format-standard","hentry","category-economics","tag-charles-hugh-smith-2","tag-everything-bubble","tag-financial-markets","tag-of-two-minds"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57748","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=57748"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57748\/revisions"}],"predecessor-version":[{"id":57749,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/57748\/revisions\/57749"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=57748"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=57748"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=57748"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}