U.S. Financial Markets Have Become A Giant Mirage Built On A Foundation Of Fraud, by Michael Snyder | STRAIGHT LINE LOGIC

Comment by tonytran2015: This may be a repeat of the dot-com bubble. Anything could be floated for millions of dollars.

https://straightlinelogic.com/2021/04/18/u-s-financial-markets-have-become-a-giant-mirage-built-on-a-foundation-of-fraud-by-michael-snyder/

They’re throwing billions at companies that will never generate a dime of profits. From Michael Snyder at theeconomiccollapseblog.com:

Would you pay more than 100 million dollars for a single deli in rural New Jersey that had less than $36,000 in sales during the last two years combined?  I know that sounds like a completely ridiculous question, but the stock market apparently thinks that deli is worth that much… It is a giant mirage that is built on a foundation of fraud.  Investors have lost all touch with reality, and in this sort of euphoric environment a small deli in rural New Jersey can literally be valued at more than 100 million dollars

The Paulsboro, New Jersey-based Your Hometown Deli is the sole location for Hometown International, which has an eye-popping market value despite totaling $35,748 in sales in the last two years combined, according to securities filings.

“Someone pointed us to Hometown International (HWIN), which owns a single deli in rural New Jersey … HWIN reached a market cap of $113 million on February 8. The largest shareholder is also the CEO/CFO/Treasurer and a Director, who also happens to be the wrestling coach of the high school next door to the deli. The pastrami must be amazing,” Einhorn said in a letter to clients published Thursday.

For young people getting ready to graduate from high school and go to college, don’t waste your time.

Just open up a small deli and go public.

Soon you will be a multi-millionaire.

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