We are due for a correction and there are a lot of overvalued stocks. AI is a bust, face it, it is often wrong. SpaceX doesn't make a profit, and may never make a profit but it is meant to be highly desirable. We've seen this before: the 1987 stock market crash and then the industrial property crash of the early 90's, the dotcom crash of the late 90's and early 2000's, then the GFC 2008, and now, 2026.
My issue is with the thinking that some companies are too big to fail. Constantly rescuing failed enterprises is a fool's errand. After 2008, all that happened was governments bailed out the chosen few and doubled down. We are living in a bubble.
Elon Musk isn't a genius: according to some, he's an illegal migrant who should be deported to South Africa. His predictions turn out to be nonsense, and he's never invented anything. Mark Zuckerberg and Bill Gates are university dropouts we are expected to listen to. How did these individuals get to be super rich? My explanation is they're all the beneficiaries of taxpayer largesse, one way or the other.
What I am describing is a situation where we're living on a leaky boat, and the people expected to keep us afloat are only interested in making the holes in the boat larger so it can sink faster. The politicians are owned by these same people, so they'll ignore the leaky boat. When the boat looks to be sinking and going under, they'll blame us.
