The unintended consequence of current BTFP setup is that it incentivize people to start bank runs to push up the value of their TQQQ/SPXL positions. BAC is sitting on $~1T of MBS. I am sure wallstreetbet folks are eager to throw it under the bus any time now. /s

"Out of control #starship8". Taken in Miami, FL around 640pm ET Not too dissimilar to the stonks.

This is only the 2nd inning, folks. Using the 2008 analogy, right now is the March weekend when Bear Sterns collapsed, and the Fed had to step in to intervene. But primary dealers are okay. GSIBs are okay. There will be NO monday-premarket 75bps emergency rate cut this time.

SPY up 9.5%, QQQ up 12% today? Congrats, you just got a hella hit of intermittent reinforcement — the dark psychology that keeps people hooked. 🎰📈