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The media is comparing this to 1929. I don’t think that’s even close to being true. The fucking S&P was at almost 45,000! The market was inflated by 10-20% and is still only down 12% these past few days. This is a huge correction, but a correction nonetheless.

Someone else can chime in who trades regularly or has a degree in Economics. Warren Buffett sold like half of his positions back around May. The whole fucking thing has been unsustainable and built around the idea that tech stocks had an endless ceiling. I think 35,000 for the S&P is a more normal number. If it goes below that, I would worry more. Right now it is at 37,300.

threw away trillions of worthless fiat currency

like throwing out yesterdays newspaper

it is absolutely worthless

actually yesterdays news paper is probably worth more than the fiat currency