Now this is seldom heard of but I noticed this at Jeffrey Gundlach’s bloomberg interview where he draws the similarity of the World Trade Center Tower becoming the tallest building in New York.
Why does this matter? Apparently building of huge tall infrastructure seems to be a psychological indication of human ego at its peak and normally precedes big market draw downs.
If you think this is born out of Drizzt’s fantasy, Barclay issue a report on this as well. You can read an article on it here.
In 1929, the opening of 40 Wall Street and the Chrysler Building were harbingers of the worst-ever U.S. meltdown, the Great Depression. A year later, the Empire State Building became the world’s tallest building, presaging years of gloom.
The 1970s saw the completion of New York’s World Trade Center and Chicago’s Sears Tower. They opened amid stagflation in the U.S. economy, a fiscal crisis in New York and the breakdown of the Bretton Woods monetary system.
Malaysia’s 1,483-foot Petronas Towers were being completed during the Asian crisis.
Can we find some examples to disprove this theory?
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