If you listen to mainstream financial pundits on any sort of regular basis then you’d likely believe that current stock market valuations are just the beginning of the next big boom. Despite hazy unemployment figures, low consumer sentiment, rising national debts, collapsing trade and continued degradation of the middle class, stock markets are at all time highs.
But – and you can call us crazy here because it goes against everything we’ve been told about the growth of the economy and stability of financial markets – is it possible that maybe, just maybe we may have reached irrational levels of market exuberance?
The following report from highlights a company that was recently valued at over $ 100 million and it just might provide all of the proof you need that we are witnessing a massive stock bubble. Either that, or new 21st century accounting methods have somehow determined that a company with four food trucks is now worth 1,000 times more than their actual profit.
But in a world where the Federal Reserve can print endless supplies of money and large financial institutions can borrow without collateral or interest, we guess it makes complete sense that the following food truck holds an estimated mark-to-market value of about $ 25 million.
No, seriously. They apparently make one hell of a grilled cheese sandwich.
Via Zero Hedge:
There are most certainly some deals to be had in the stock market these days, especially as it relates to assets like gold and silver, but we’re not convinced that grilled cheese trucks selling at valuations of roughly $ 25 million a pop are the way to go.
If you play the market that’s all well and good, but as Zero Hedge notes, “enjoy the party, but dance near the door,” because when the party is over there’s going to be a panic-laden rush for the exits.
The Only Proof You Need Of A Massive Bubble: This Grilled Cheese Truck Is Worth $25 MILLION
No comments:
Post a Comment