Before I left for vacation near the end of October, I was sanguine about the state of America’s stock markets. But a bit more than a week after my return, it’s clear to me that the time has come to call the market top. There is conclusive evidence that the 1990s bubble mentality is back, and the crash can’t be far away. Consider:
- Item: Snapchat, a company with no revenue and a product nobody understands turned down a $3 billion acquisition offer.
- Item: Less Than Jake released a new album this month. The album is available on audio CD.
- Item: The Dow and the S&P are at all-time highs.
- Item: People are touting one of George H.W. Bush’s sons as a presidential candidate.
- Item: There’s a new Third Eye Blind compilation album.
Basically you should be dumping everything and putting your money into gold, bitcoins, or cassette-tape players. Something with real value.