{"id":13851,"date":"2021-02-21T12:49:36","date_gmt":"2021-02-21T12:49:36","guid":{"rendered":"https:\/\/www.duck9.com\/?p=13851"},"modified":"2021-02-21T08:57:21","modified_gmt":"2021-02-21T12:57:21","slug":"playing-the-market","status":"publish","type":"post","link":"https:\/\/www.duck9.com\/blog\/playing-the-market\/","title":{"rendered":"Playing The Market"},"content":{"rendered":"<div>\n<div dir=\"ltr\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363238786600067072?s=11\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" style=\"border:1px solid #ccd6dd; border-radius: 12px;\" width=\"500\" bgcolor=\"#ffffff\">\n<tbody>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" style=\"border-radius: 50%; padding: 0px;\" height=\"48\" width=\"48\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width:8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: #292c2f; text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: #7e8c98;\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif;color: #292c2f; font-size: 18px; line-height: 24px; text-decoration: none;\">&#8220;Accounts of the time tell of a progressive demoralization which crept over the common people,<br \/>compounded of their weariness with the breakneck pace, to no visible purpose, and their fears from watching<br \/>their own precarious positions slip while others grew so conspicuously rich.&#8221;<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height:0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363238786600067072?s=11\" style=\"font-family: Helvetica, Arial, san-serif;color: #667785; font-size: 14px; line-height: 18px; text-decoration:none;\">2\/20\/21, 3:27 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" style=\"font-size: 0px; line-height: 0px;\" height=\"12\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><br \/> <a href=\"https:\/\/twitter.com\/download?ref_src=MailTweet-iOS\">Download<\/a> the Twitter app  <\/div>\n<div dir=\"ltr\">\n<div><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363239134836314112?s=11\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">&#8220;Almost any kind of business could make money. Business failures and bankruptcies became few. The boom suspended the normal processes of natural selection by which the nonessential and ineffective otherwise would have been culled out.&#8221;<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363239134836314112?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">2\/20\/21, 3:28 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/p>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: auto;\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363239456388435969?s=11\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">&#8220;Speculation alone, while adding nothing to Germany&#8217;s wealth, became one of its largest activities. The fever<br \/>to join in turning a quick mark infected nearly all classes..Everyone from the elevator operator up was playing the market.&#8221;<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363239456388435969?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">2\/20\/21, 3:29 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><\/div>\n<p><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363239711569965059?s=11\" style=\"-webkit-text-size-adjust: auto;\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">&#8220;The volumes of turnover in securities on the Berlin Bourse became so high that the financial industry could not<br \/>keep up with the paperwork&#8230;and the Bourse was<br \/>obliged to close several days a week to work off the backlog&#8221;&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23robinhooddown&amp;src=hash\">#robinhooddown<\/a><\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363239711569965059?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">2\/20\/21, 3:30 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363240911530905600?s=11\" style=\"-webkit-text-size-adjust: auto;\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">&#8220;all the marks that existed in the world in the summer of 1922 were not worth enough, by November of 1923, to buy a single newspaper or a tram ticket. That was the spectacular part of the collapse, but most of the real loss in money wealth had been suffered much earlier.&#8221;<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363240911530905600?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">2\/20\/21, 3:35 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><br style=\"-webkit-text-size-adjust: auto;\"><span style=\"-webkit-text-size-adjust: auto; font-size: medium;\">Throughout these years the structure was quietly building itself up for the blow. Germany&#8217;s #inflationcycle ran not for a year but for nine years, representing eight years of gestation and only one year of #collapse.&#8221; Written in 1974 re: 1914-1923. 2010-2021: Gestation.<\/span><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363244089576022016?s=11\" style=\"-webkit-text-size-adjust: auto;\"><\/p>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"500\" bgcolor=\"#ffffff\" style=\"border: 1px solid rgb(204, 214, 221); border-top-left-radius: 12px; border-top-right-radius: 12px; border-bottom-right-radius: 12px; border-bottom-left-radius: 12px;\">\n<tbody>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<td>\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" width=\"464\" align=\"left\">\n<tbody>\n<tr valign=\"top\">\n<td width=\"48\" valign=\"top\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/1325077919341764608\/LbPlMruC_normal.jpg\" height=\"48\" width=\"48\" style=\"border-top-left-radius: 50%; border-top-right-radius: 50%; border-bottom-right-radius: 50%; border-bottom-left-radius: 50%; padding: 0px;\" data-unique-identifier=\"\"><\/a><\/td>\n<td width=\"8\" style=\"font-size: 0px; line-height: 0px; min-width: 8px;\"><img decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/spacer.png\" width=\"8\" data-unique-identifier=\"\"><\/td>\n<td valign=\"middle\" width=\"388\" style=\"min-width: 388px;\">\n<table cellpadding=\"0\" cellspacing=\"0\" border=\"0\" align=\"left\" width=\"388\">\n<tbody>\n<tr>\n<td align=\"left\" width=\"388\"><b><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; color: rgb(41, 44, 47); text-decoration: none;\">Cassandra<\/a><\/b><\/td>\n<\/tr>\n<tr>\n<td align=\"left\"><a href=\"https:\/\/twitter.com\/michaeljburry?s=11\" style=\"font-family: Helvetica, Arial, san-serif; font-size: 14px; line-height: 18px; text-decoration: none; color: rgb(126, 140, 152);\">\u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td valign=\"top\" width=\"20\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/email\/self_serve\/media\/logo_twitter-1497383721365.png\" height=\"20\" width=\"24\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td height=\"9\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/ea.twimg.com\/self_serve\/media\/spacer_464x1-1582829598167.png\" width=\"464\" height=\"1\" data-unique-identifier=\"\"><\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(41, 44, 47); font-size: 18px; line-height: 24px;\">&#8220;Throughout these years the structure was quietly building itself up for the blow. Germany&#8217;s&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23inflationcycle&amp;src=hash\">#inflationcycle<\/a>&nbsp;ran not for a year but for nine years, representing eight years of gestation and only one year of&nbsp;<a href=\"https:\/\/twitter.com\/search?q=%23collapse&amp;src=hash\">#collapse<\/a>.&#8221; Written in 1974 re: 1914-1923. 2010-2021: Gestation.<\/td>\n<\/tr>\n<tr>\n<td height=\"3\" colspan=\"4\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"4\"><a href=\"https:\/\/twitter.com\/michaeljburry\/status\/1363244089576022016?s=11\" style=\"font-family: Helvetica, Arial, san-serif; color: rgb(102, 119, 133); font-size: 14px; line-height: 18px; text-decoration: none;\">2\/20\/21, 3:48 PM<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<td width=\"18\" style=\"font-size: 0px; line-height: 0px; min-width: 18px;\">&nbsp;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"3\" height=\"12\" style=\"font-size: 0px; line-height: 0px;\">&nbsp;<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<p><\/a><br style=\"-webkit-text-size-adjust: auto;\"><\/p>\n<div dir=\"ltr\" style=\"-webkit-text-size-adjust: auto;\"><span style=\"-webkit-text-size-adjust: none; background-color: rgba(255, 255, 255, 0);\">, 650-283-8008,&nbsp;<\/span><span style=\"-webkit-text-size-adjust: none;\">that Steve Jobs texted me on<\/span><\/p>\n<div style=\"-webkit-text-size-adjust: none;\"><\/div>\n<div style=\"-webkit-text-size-adjust: none;\"><span style=\"background-color: rgba(255, 255, 255, 0);\">https:\/\/www.youtube.com\/watch?v=ejeIz4EhoJ0<\/span><\/p>\n<div>\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<\/div>\n<\/div>\n<\/div>\n<p><br class=\"Apple-interchange-newline\" style=\"-webkit-text-size-adjust: auto;\"><\/p>\n<div>\n<div dir=\"ltr\"><span style=\"background-color: rgba(255, 255, 255, 0);\"><br \/><\/span><\/div>\n<div dir=\"ltr\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>&nbsp; &nbsp; Cassandra \u00e2\u0081\u00a6\u00e2\u20ac\u00aa@michaeljburry\u00e2\u20ac\u00ac\u00e2\u0081\u00a9 &#8220;Accounts of the time tell of a progressive demoralization which crept over the common people,compounded of their weariness with the breakneck pace, to no visible purpose, and their fears from watchingtheir own precarious positions slip while others grew so conspicuously rich.&#8221; &nbsp; 2\/20\/21, 3:27 PM &nbsp; &nbsp; Download the Twitter app [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-13851","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"post_mailing_queue_ids":[],"_links":{"self":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13851","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/comments?post=13851"}],"version-history":[{"count":0,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/posts\/13851\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/media?parent=13851"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/categories?post=13851"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.duck9.com\/blog\/wp-json\/wp\/v2\/tags?post=13851"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}