The value was down $4500

And I worked in the stock market in 2008 and I think we’re going to have a crash.

They're hiding debt in crypto Stablecoin backed by US Treasuries. There's a good mix of people seeing crash ahead, and 1970s ahead with precious metals surging, but with credit bubbles like 1987, 2001, 2008. Stagflation. Or it could be a generic recession if the economy is more resilient now.

...that we saw in the dot com bubble.



The magnificent 10 constitute a far greater portion of the s&p value than the dot com segment did back in 2000.

Our economy is an all in bet on AI. Add to that the fact that concentration of wealth and destruction of the middle class make our economy heavily dependent on discretionary spending by the wealthy to keep us going. And when they get nervous, they can cut way, way, way back. Not an option for the vast majority who are only spending what they must to survive.

When the AI bubble bursts, it will be far, far, far worse than when the dot.com bubble did.

Magnificent 10: There are difference definitions. I focus on the CEOs over stock symbols

Elon Musk (Tesla, SpaceX, xAI)

Jensen Huang (Nvidia)

Satya Nadella (Microsoft)

Mark Zuckerberg (Meta)

Sundar Pichai (Alphabet/Google)

Andy Jassy (Amazon)

Tim Cook (Apple)

Lisa Su (AMD)

Dario Amodei (Anthropic)

Alex Karp (Palantir)

Open AI, Oracle, Broadcom are in the mix too.

C.C. Wei (TSMC) is included by some

Here's one analysis of how the end begins:

https://www.profgalloway.com/how-does-the-end-begin/

Chris Oxley is a great follow on YouTube. He is tracking risks in the private credit markets, and in this video, discusses the sudden departure of the CEO and CFO of Fermi, one of the nation's largest AI infrastructure companies.

They have sucked up billions of dollars to build out AI infrastructure, but not getting the customers willing to pay for it.
He feels that this sector could pull down a bunch of related and unrelated sectors. Big risk for the markets.