[BishopMVP]

I'm not worried about consumer inflation (outside of housing prices but I think that has an easy explanation in the forceslosure limitations & super low mortgage rates) but I am starting to lean towards Burry's side that the market is due for a pretty big correction sooner than later. I know he's called 9 of the last 2 recessions, but the amount of overleveraging we've seen in the last few years is insane, and while I think some people at the SEC & DTCC are starting to take action against it to reduce their exposure if nothing else the Archegos liquidation is only the first domino. That fund was leveraged up 5-6x & all the main stocks (Viacom, Discovery, Farfetch etc) show the same run-up to like 10x their price from April of last year to February of this one with no drastic change in the business models. The underlying economy doesn't support this many stocks being at ATH's when like half of society has been shut down for a year, it's largely a product of free money from central banks & banks leveraging up while that money printer keeps going brrrrrr.

The corporate bond market is probably the biggest underlying risk, and because they never learn (or they learn the lesson that they can make billions without being punished if it blows up) MM's & large banks have been throwing CLO's of corporate bonds together and then re-hypothecating them or using them as collateral for more bonds. It's insane, and it scares me a ton that the US Government has assigned Blackrock to start buying up treasury bills, BR/Goldman Sachs are borderline going #CashGang at this point, and Fidelity went so far as to completely shut down it's derivatives trading wing at Geode to reduce exposure in the near-medium term.