This chart is unbelievable. This isn't a penny stock, this is Apple. This is Apple during the worst economic crisis of our lives which is in some ways worse than the Great Depression. What are investors buying at these highs thinking? Are they thinking unemployed people buy expensive phones? Are they thinking the collapse of so many businesses means it's a great time to buy into the market? Or that when equities are even more overvalued than at the peak of the tech boom/crash of 2000, it's the best time to buy into tech? The answer is simple: nobody is thinking.
This is a very odd time when people have started to herd... to act like lemmings running toward the cliff. They've lost the ability to think as individuals and just follow whatever the person next to them is doing, no matter how absurd. On the news, in the streets, and in the markets we see mob-mentality run amok. When the pain comes, and it will come, we will look back and wonder what the hell everyone was thinking. Let me assure you, nobody is thinking. People don't think when they are in a mob.
Don't bother now, but after this has all imploded, google: blow-off-top, the dotcom bubble, the Dutch Tulip Bubble, or the South Sea Bubble. You'll recognize what you find, and you'll learn something.
"If you read this morning or heard on the radio that 16.2 million people were claiming unemployment insurance – the “continued claims” – and you thought that there were only 16.2 million people who claimed unemployment benefits, you fell victim to lazy misreporting in the media, by reporters or bots that didn’t read the Labor Department’s press release beyond the second paragraph.
Those 16.2 million were only the claims under state programs, and do not include the claims under federal programs. All combined, there were 31.8 million people on the unemployment rolls. That’s what the Labor Department reported further down in the press release.
There is a huge difference between 16.2 million and 31.8 million unemployed people!"