Is it Deja Vu all over again?
Wasn't Yogi Berra a kick? He took from Lord Toynbee his Nobel Prize on history repeating itself into Brooklyn speak. I was reminded of that when I read about the closing of the slaughterhouses and the issue of hogs. What does one do with all the hogs accumulating without their way into food chain? They are not like cattle. Cattle can be released to the pasture and graze until the food chain opens up again. "Where did I experience this before?" As a rookie stock broker in 1970, just out of college, I came to a stock market not much different than the past few years. New Highs after new highs and nothing could stop the stock market ascent. The "new normal" was in vogue. THEN, like something out of nowhere prices began to fall. Fall they did, over 60%! The Nifty Fifty were the FANG stocks then. The difference it took over 3 or so years to fall 60%. This past month it fell 60%. Interest rates were rising back then and kept rising along with