Surprisingly, there is no growth bubble right now. There is only a bubble by sec

Surprisingly, there is no growth bubble right now. There is only a bubble by sector.  

The asset market has also become polarized, which is now more extreme than ever. If all the capital in the market is concentrated only on certain assets like now, distortion occurs, optical illusions that the economy looks very good, and volatility begins to expand.  

The U.S. stock market continues to remain near record highs, and the rest of the world has become difficult to raise capital no matter how much money you release and has fallen into a swamp of low growth.  

The funny thing is that even within the U.S. stock market, only a few stocks are like that, and the other absolute majority have not seen the light of day.  

Policymakers are trapped, too. There is no institutional justification to force 'you should stop buying Nvidia and buy bonds' in the free market order.  

Economic stimulus has to continue for many reasons, but no matter how much money you release, all the money in the world is being sucked into Nvidia and Bitcoin.  

Public confidence in the central bank has fallen to the ground, and everyone knows that the government's willingness to release money is infinite, and to correct the panic buying phenomenon of precious assets suited to each society and class in anticipation of a fall in the value of money, we need a department like DOGE to crack down on the government's sprawling policies, or a market crash to get rid of all these bubbles.  

Trump has set his sights on beating Biden's sprawling money-giving lifestyle even now, which is why after Trump's presidency, the dollar is soaring further and the U.S. concentration of all assets is accelerated. And once the DOGE is officially in operation, the temporary pain of austerity is foreseen.  

The problem is that the sales of the top U.S. companies are more overwhelmed by exports and overseas corporate profits than U.S. domestic demand. As you can see the exchange rate, the pocket situation in all countries except the United States is starting to deteriorate, so Big Tech, which was like an iron fortress, will eventually turn around and start to suffer from a slowdown in sales. Then the timing of the FOMO people's bubble will come again.  

But this time, it's going to hurt a lot more than the past crash. Because the price level is very high. If you solve the problem here, you'll get a real hyperinflation and then a long-term deflationary recession. It's a hell of a lot. Look at Pingping. No matter how much money you release, you're just teased. The stock market rebounded a little, but real estate was still zombie and the youth unemployment rate was at an all-time high. Even if Japan keeps negative interest rates for a long time, the country's economy can't stand out. This is spreading globally.  

I don't know exactly when it's time, but it's in the beginning stage.