It is hilarious watching grown men freak out about a down day in stocks while the S&P is up 7.5% YTD and the national government can’t stop printing ...
The author finds it amusing that some are panicking over a single down day in the stock market, noting the S&P 500 is still up 7.5% year-to-date while the government continues printing money.
Background
Anthony Pompliano ("Pomp") is a well-known Bitcoin advocate, venture capitalist, and co-founder of Morgan Creek Digital. This post mocks short-term panic over a single down day in the stock market, pointing out that the S&P 500 is still up 7.5% year-to-date. The "government can't stop printing money" refers to the Federal Reserve's quantitative easing (money creation / low interest rates) during and after the pandemic, a policy Pompliano and many crypto proponents argue devalues fiat currency and makes assets like Bitcoin more attractive. The tweet reflects a common "zoom out" mindset in financial Twitter circles and implicitly contrasts equities volatility with the case for hard-money assets.