In case today’s panicked sell-off is the start of the long-expected crash, let the cause hereby be noted: Google’s Q2 “overspending.” In past crashes, the perceived agents of debacle–finance ministers, central bankers, short sellers, mortgage brokers, mortgage lenders, Wall Street types–have been publicly excoriated and despised. So it will be interesting to see if, this time, the first scapegoat will be the formerly most-worshipped company in the world.
No problem! We already bought our 767.
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