Like classic Ponzi schemes, these ventures succeeded only so long as the supply of new suckers exceeded the outflow of sellers.
Economic storm clouds were abundant as 2022 drew to a close: galloping inflation, soaring interest rates, looming recession. Adding to the gloom, several high-flying ventures are crash landing in real time. These schemes once seemed like fountains of new-found wealth, but now are destroying value as fast as they magically created it.
Amidst this overheated frenzy, last year’s jump in interest rates was like crying “fire” in a crowded theatre. Greed turned to fear, smart investors rushed for the exits — and the self-fulfilling logic of the herd shifted into reverse. The hopes of millions who believed these scams are now being crushed, as trillions in paper wealth disappear before their eyes.
المملكة العربية السعودية أحدث الأخبار, المملكة العربية السعودية عناوين
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