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[nimblebear]

You know that when the 'super rich' have run out of places to 'put their money', the last place they end up generally putting a lot of it, when everything else appears way overvalued, is in 'art.' It may or may not be 'expensive' but quite often a whole lot of 'art', really ain't 'art' but more about perception and illusion. Sort of a lot like tulip bulbs and a prior well known mania.

It's often can't be just ANY art, mind you. There has to be some 'spin' on it.

http://www.arabianmo...as-stocks-peak/

The irony here, and there is some irony for those of you long timers here at TT, is that a certain someone who is known for being loudly if not obnoxiously bullish, particularly around certain market peaks, happens to be a figure head of an art gallery that caters to obviously people who have nothing better to do with all of their money. I guess if someone is going to pilfer from the 'rich', and they are generally easy 'marks', particularly if you are good at stroking their massive EGO's, it might as well be someone who is also (not incoincidentally) frequently 'rah rahhing' the market to go higher. Because if the market doesn't keep going a lot higher, making certain 1%'rs FEEL really rich, there ain't going to be much art being bought at that or any art gallery. The interesting twist on this particular one, is the pitch attempts to appeal more to the aspirational 1% wannabe's, who may have some money, but its not necessarily the deep wealth that comes from many years of wealth.

Another peak indicator is when a LOT of money being spent on rather expensive shoes.