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History suggests being wary of the “strong buys” at $45 when the eventual bottom is $4.

The rollercoaster ride is about to get “fun,” as in unpredictable, volatile and unnerving for those normalized to extreme distortions “fixing” all things financial.

Confidence / complacency doesn’t map the real world, in which liquidity dries up and markets go bidless.

And that’s how totalitarian movements come to power: the citizens give up on the Establishment factions, as they’ve failed to solve the problems being exploited by extremist groups.