"Today, the ECB is powerless to stop this. They don’t have the tools nor the expertise. And they won’t even after they get the reforms they believe they need. It is bankrupt now and it will need external help to survive."
On 9 March 2020, the Dow set a record by falling 2013 points. On 12 March, it beat this record with a 2352-point fall. Then, on Monday, it went into freefall, plummeting by 2997 points, or 12.93% on the day.
"Europe is shutting down"
"Are we at the bottom yet? Probably not, if history is any guide."
"We are in a bear market and a recession. It just hasn’t been announced ... yet."
"The markets have just suffered their worst one-day collapse since the 1987 Crash."
"At some point in the future, someone is going to pull all the data together. They will closely examine the hospital logs, analyse the transmission number and the infection rate, and do a cost-benefit analysis of the efforts to contain the virus. They may well conclude governments overreacted..."
“Tops are a process, and bottoms are an event”
"All major U.S. banking stocks fell by double-digit percentages during Monday’s session."
"The 10 year UST yield has dropped from ~1.6% to ~0.8% in just 12 trading sessions."
"The party is over."
"Stay alert; things are finally getting interesting."
"History shows that the most effective way to protect the environment is via a system of private property rights and free markets. Private property owners are better stewards of the environment than are government bureaucrats because private property owners have greater incentives to maintain the value of their property. This is why the greatest pollution in history was in the communist countries of the 20th century."
"While it may not look like much on a percentage basis, the cumulative return lost to Berkshire Shareholders over the last decade was roughly $90 Billion dollars."