'Dilbert' Creator Alleges Vast Conspiracy - Predicts 20% Market Collapse
In a strange new blog post, Adams says stock movements are controlled by a figurative "network of big players" who lure in small-time investors only to set them up for disaster.
He seems to be dead serious.
Here's the main part of the post:
When I say there is manipulation and collusion in the financial markets, it doesn't mean there are actual meetings in which billionaires smoke cigars, drink expensive cognac, and make their evil plans. It might be enough that they are all so aware of each other's moves that they just play follow-the-leader and do so faster than small investors. The sort of market manipulation I'm describing only requires one billionaire leader who is closely watched by the other billionaires. When he sells, they sell, and they all understand why. The big players who time it right get a 40% gain for the year while the underlying value of their stocks is unchanged at the end of it all. It is the perfect crime.
Does any of that sound plausible to you? Or do you believe the markets are mostly honest, give or take a few high profile cases of insider trading?
Normally I wouldn't buy into a conspiracy theory that has no smoking gun type of evidence. But financial markets are a unique situation. When you give people in that industry the motive, the opportunity, and a near-zero chance of getting caught, how can you expect them to play fair? The bigger shock to me would be to learn that the markets are free of manipulation. That would be a violation of everything I know about human nature.
He concludes by saying stocks will fall 20 percent this year, though will eventually correct to current levels.