This is the Bitcoin price chart in US dollars this year:
And this is the equivalent chart for Dogecoin, which we might take as representative of the rest of this absurd so-called investment market:
The crypto party is over. Trump gave it a massive boost.
Now, most coins are heavily down this year, as is apparent. Dogecoin is down 50%.
Bitcoin is down overall, but tellingly, it is now tumbling as markets begin to realise just how overvalued cryptocurrency markets are, with no asset backing to support the hype that has been generated about them.
The recession is already happening in these assets.
Elsewhere, the bubble will soon burst. There was a serious discussion of a 40% fall in the value of tech stocks, with others being dragged behind in their wake, in the FT yesterday. This is the territory I have been talking about for some time.
The likelihood of a crash is now very high.
Expect that to be completely ignored by Rachel Reeves next week. Every one of her assumptions is going to be blown apart, very soon.
Thanks for reading this post.
You can share this post on social media of your choice by clicking these icons:
There are links to this blog's glossary in the above post that explain technical terms used in it. Follow them for more explanations.
You can subscribe to this blog's daily email here.
And if you would like to support this blog you can, here:
Buy me a coffee!
You are being unkind on Rachel “just following orders” Reeves. She was not chosen on the basis of her “assumptions” (she has none) but on the ability to follow orders/keep happy: the UK finance sector (mostly non-UK owned), BoE (a wholloy owned subsidiary of the UK (foreign-owned) finance sector), big (mostly non-UK) business. Financially, the UK is managed for the benefit of foreign companies. Thames Water & its debt? Wholly foreign.
Obvs this must come out in discussions in polite society so UK serfs are provided with other forms of “entertainment” the latesst: immigrunts, immigrunts & jewelry, immigrunts make Brtis homeless, immigrunts cause long waiting lists etc etc ad nauseum. I am confident that the latest comments by a DLINO minister were to keep the immigrunt pot boiling. A discussion on UK finance “benefit UK citizens or foreigners” deary me no. Reeves a puppet of mostly foreign interests……..the UK taking back control. Yeah there goes another flying pig.
Indeed, see this mornings headlines from the G https://www.theguardian.com/business/live/2025/nov/18/stock-market-sell-off-ai-bubble-google-nvidia-ftse-100-bitcoin-business-live-news
Your prediction regarding ai bubbles & crypto collapses are starting to come true.
Side note, have you had chance to look over Tim Morgan’s theory,
https://surplusenergyeconomics.wordpress.com/professional-area/ I feel its an area you could probably both collaborate on, a sort if unified economics / energy theory if you like. The Theory to End all Theories… Economics wise… Regards, ed in devon
A Quick Look at his theory left me unconvinced. Sorry. The science felt wrong at many levels.
“The science felt wrong at many levels.” I don’t know about his economic conclusions, but Tim Morgan’s basic argument around the primacy of energy and the effect of increasing ECoE seems at least plausible to me. If it’s not too far OT I’d like to understand a more about how you differ from him there.
Only if I have time, and right now I haven’t and have too many asking for it.
Added to Epstein, tariffs, ICE and inflation it could bring down Trump too.
Reading Nassim Nicholas Taleb’s Black Swan. He talks of Black Swan events happening post volatility when things have calmed down and people least expect it. Maybe there’s time in the tank still before the proverbial sh#t does hit the fan.
We’re talking soon, whatever happens now.
Trump obviously used the leverage of crypto for a short time and then got out – but at what at what cost to the American and world economy?
We seem to be in an age of financial anarchism.
Agreed
Personally think we are in the age of Chaos, not Anarchy
Chaos: great disorder/confusion
Anarchy: literally no rulers
have you seen this? https://open.substack.com/pub/broligarchy/p/peter-thiel-gets-out-of-dodge?utm_campaign=post&utm_medium=email
Looks like AI bubble also bursting.
Agreed
Cadwaller’s newsletter is a weekly highlight for me, even if it makes me angry reading about the tech bros and their lunacy. I do wonder, though, what the connection, if any, is between inequality and stock market bubbles? It seems to me that the rich have to put their money somewhere, which almost invites the likes of Altman to sucker them in. Can the rich even be trusted with their money?
She is very good
Following on from something Ed in Devon mentioned about “ages”, I thought it worth mentioning that Eric Hobsbawm used that devise for the titles of all his (Marxist?) excellent history books:
1789 -1848 The Age of Revolution
1848 – 1875 The Age of Capital
1875 – 1914 The Age of Empire
1914 – 1991 The Age of Extremes
Perhaps the period 1991 – present could be: The Age of Chaos and Corruption, which follows quite nicely from ‘extremes’.
Then again, there are many other possibilities, of course, and many wouldn’t be as “polite” as the above.
Much to agree with
There are email conversations in the Epstein files between Epstein and Bannon discussing using crypto to fund their ransacking of the world order. Make of that what you will.
Read this Richard https://broligarchy.substack.com/p/peter-thiel-gets-out-of-dodge?utm_campaign=post&utm_medium=email&triedRedirect=true
How scary is that , written by Carole Cadwalladr who i believe wrote for the Guardian .