Capitulation? Fed Wednesday. More rate hikes ahead. Crypto collapsing. Liquidity drying up.

My guess is this is the point where the Fed usually injects liquidity. But they can no longer do that with inflation exceeding 8-9%.

It's going to get worse? I'm not bottom fishing. That may be many months away.

. . . so many of us have been predicting for, uh, how many years?

It's so difficult to be hopeful these days.

But we are headed into the 1970s, a long period of slow growth and inflation with the market grinding down just as it did going up. It may be intermittent, and sideways action may be the windup when history looks back at it, but assets are overpriced because the Fed's low interest and cheap money made every business idea look profitable on a spreadsheet and the world just doesn't work that way.

Spot. On.