From $NVDA to Janet Yellen, from $AAPL to Jerome Powell, from $SMCI to Gary Gensler, from Joe Biden to the #BLS, from Rishi Sunak to $HSBC, from Christine Lagarde to #GermanRealEstate, from the #BOJ to $GOOG and on and on.
What do all those I mentioned have in common? They are all liars.
Of course, the list is far from being exhaustive, just a drop in the ocean actually. However, when no one is held accountable anymore for whatever they say or do, incredible extremes can be reached (along with incredibly reckless behaviors). “No landing”, “Unlimited growth opportunities”, “the problem is contained”, “inflation is under control”, “The financial system is rock solid”, how many times have we heard these words recently? The goal here was clearly one: achieve the “ILLUSION OF TRUTH”
What is the “illusion of truth”? In the words of a person who made history because of his (devilish) propaganda skills, Joseph Goebbels, “Repeat a lie often enough and it becomes the truth”.
The problem is, that there is a limit to everything, after which people start naturally questioning things because they are too far-fetched to be accepted at face value. This is when the counter-narrative starts to kick in, more and more people begin to fact-check statements, and ultimately the pile of lies crumbles, dragging down whatever was being placed at its top.
“Sell $NVDA” published by the FT might have been the most famous article breaking with the mainstream narrative so far, but prior to it, there were already plenty of instances when outright lies had been debunked.
My favorite? “$GOOG best #Gemini demo was faked” back in December 2023. Now people all across the media and social networks are all waking up to the fact that #Gemini not only is a #horrible product but clearly wasn’t built with the intention to deliver consumers with a powerful #AI instrument but on the contrary, it used #AI as a Trojan Horse to brainwash the masses and make the “illusion of truth” more powerful.
Thanks to the illusion of truth, Janet Yellen (with the help of her sidekick Jerome Powell) managed to convince everyone the FED was going to cut rates 6 times in 2024. Fast forward now, people are even starting to place bets on the #FED potentially being forced to raise rates instead to fight #inflation roaring back.
Today we got the “Sell $AAPL “ along with the announcement that the company will stop burning billions to feed the illusion they had any chance to become a serious car manufacturer. Before they start erasing the records, please go read all Wall Street analysts’ reports and check what value they were pricing in $AAPL stock because of the incoming $AAPL car 😉
Similar to what happened during the DotCom, sooner or later reality catches up and whatever was built upon piles of lies crumbles very quickly. Thanks to #0DTE today’s valuations have been pushed to an extreme never imaginable before, however, while some diehard people, like the $BAC analyst who published a “buy” rating with a 1000$ PT for $SMCI, still try to tailor a narrative to justify what’s happening, more and more are figuring out that it was all a pile of lies.