I know that, my point was in some ways even the stock market regulations are useless though because of no or selective enforcement. Such things need to be globally applied or not at all.
It's not just the Robinhood meme stocks. I got very bearish on the markets a bit over a month ago. Simple reason, trying to find something worthwhile to buy, couldn't find hardly anything. Even funds - I'm the type that looks at what funds hold - way too many holding Apple and Tesla or other greatly over valued stocks. Tesla for example, was trading at a PE multiple of 1000. At that multiple, there's really no difference between Tesla stock, and Bitcoin.
Now I get that high growth companies can trade at high PE multiples, but Tesla is not a newborn, and 1000 was just stupid. Neither is Apple and it was at a PE of like 80. Keep in mind the S&P PE is over 20, the historical mean is 15.5, and bear market lows are 5. Yes earnings can go up, but they can also go down. Apple is nothing like Tesla in the sense that they make big $$, have little debt, and lots of cash. Nevertheless, the stock is priced at a premium.
A lot of these stocks in my estimation, can lose 50% of their value in a heartbeat. Even safe stalwarts like JNJ and KO trading at 30X earnings - earnings unlikely to grow much if at all post covid.
The signs are all there. All of this crap is nothing but bubbles blown up by easy money from central banks. Every asset class from gold to oil to lumber to housing to stocks to crypto, all bubbled up.
And now, this is small money, but it's just the beginning of what must happen if our currency is to survive.
While the central bank's $13.8 billion portfolio of bonds and ETFs is relatively small, it does mark a shift away from pandemic relief efforts.
finance.yahoo.com