I think Billy Ray Valentine summed up the current state of affairs when he noted (substitute “risk assets” for “pork belly”):
“OK, pork belly prices have been dropping all morning. So everybody’s waiting for them to hit rock bottom so they can buy cheap. The people with pork belly contracts are thinking, ‘Hey, we’re losing all our money and Christmas is coming. I won’t be able to buy my son the GI Joe with the Kung Fu grip. And my wife won’t make love to me ’cause I ain’t got no money.’ They’re panickin’, screaming, ‘Sell, sell.’ They don’t want to lose all their money. They’re panickin’ right now. I can feel it.”
