I can top that show with no cost. It's called "Put a couple grand into Bitcoin and wait 4 years." Voila, bye bye student loans.   From Neil Postman's "Amusing Ourselves to Death" (1985) (via @bitstein) Excellent book btw. I actually took a course back in college as part of my minor, where this book was in the curriculum as required reading. Shows you how old I am. I minored in Philosophy. |
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r0ach should be here gloating. I guess he has a day job.
Silver still getting monkey hammered. So no, he's hiding in shame. |
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FYI the comment from the person I mentioned
Bring China to its knees - um - you know what? China has just realised that this is a possibility. China is realising that its switch to a consumer lead economy vs "factory to the world" will take a lot longer than anticipated and the powers that are know that food security is still a major problem. It is clear from our sources that there was a massive misread on the part of the Chinese who thought that Trump would back down. There is a lot happening in China right now pointing directly to trouble brewing - from protests by retired military personnel to paint and faeces being thrown on XJP pictures and court buildings (some thoughts that this is being stirred up from foreign sources so expect another "westerner" crackdown). So all up, this is a very dangerous time in China, XJP can not appear weak to the populace, thus the massive propaganda campaign underway (from WeChat to subway advertising, singing people in subways and the usual rules for media outlets). The soybean tariffs will be paid by the government if the beans are added to the strategic reserve - this alone shows what is really happening. And as for the slowdown, well it is real, from Evergrande chairman to gov officials, it has been acknowledged as happening, but GDP will still print 6.7/6.8%.
Trumps timing was sublime - he actually caught the Chinese in full Moutai celebrations over the Xi for Life event and in so doing, made sure that Xi has to respond. Xi's real problem is that any response he makes from Yuan deval (we are hearing 10=15% being accepted) to imposing tariffs to limiting imports hurts China more than anything else. Your comment about China suddenly not needing 20% of its IO supplies from Oz is interesting. I had the same comment made to me when I was in Beijing last month. The month where there was another all time record shipped from Port Hedland.
Interesting read, thanks! And as for the slowdown, well it is real, from Evergrande chairman to gov officials, it has been acknowledged as happening, but GDP will still print 6.7/6.8%. Funny that everybody knows that GDP print is completely fake, but govts will still keep spouting the lies, won't they?  Alarm bells on China's economy have been ringing since 2015-16... https://www.youtube.com/watch?v=7enlEd_1XP4 |
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I think China will be a driver of the btc price again, despite what people are saying I think they are close to disaster. I read a comment recently from a man who has a lot of business in China and has a lot of connections with high up party members and business leaders. Things don't sound good.
I agree. Other than ingraining a misguided sense of nationalism in the younger generations, China has done nothing over the past 10-15 years to become a more consumer driven economy. They have pumped billions of ponzi fiat money into their economy, which has done nothing except create rampant and irrational over speculation, especially in their tech stock market and in real estate. The West is still the "consumer arm" of the entire world, and unfortunately the U.S. and other western nations can no longer hide the fact that consumer spending dropped off a fkn cliff about 5 years ago. The lack of consumer demand abroad is finally hitting China's shores, and they can no longer keep their own economy propped up with more fake borrowing and debt issuance. It's all going to come crashing down. Soon TM. |
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The Democrats are right in that anyone without a decent education and the ability to be highly agile in their role is fucked.
So everyone can whinge about the cost of education, but if your population isn’t educated, it’s not going to be competitive and it’s going to drag down your economy.
Yes, but how are young Americans going to compete for domestic jobs, when they have to get student loans for $50K-$100K @ 2-4% interest and when U.S. open borders allow immigrants (like H1B's) coming in by the tens of thousands who already speak English and got single or multiple degrees for next to nothing in their home country, all completely paid for? Answer: They can't. They are saddled with a debt burden overhead that they have to service that the equivalent immigrant competing for the same job won't have, and they won't be able to accept a lesser salary in order to compete. The low cost Chinese workers can’t speak English so they are useless for white collar outsourcing.
You should do some more research. Expats who speak native English and Mandarin are being employed in China (metro cities like Hong Kong, Shenzhen, Shanghai, etc.) specifically to teach English to those educated Chinese students so they can get the outsourced white collar jobs from America. |
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However the inability of the left to champion the cause of the working class is really disappointing. How did the right become the champion of the rural working classes. Something went badly wrong there.
It's pretty simple really... since the 90's the Democrats were lobbied and co-opted by transnational corporations to outsource all the blue collar jobs overseas, then promote the domestic white collar work life as the only work lifestyle left in America for anyone, anywhere. It was all highbrow and very condescending. They figured that this is what all Americans want and need -- blue collar work was for lower class citizens. It was obvious that they wanted to model American work life after Japan's corporate zone. Completely disregarding the fact that 80% of Americans are not cut out for a desk job just to sit behind a computer all day. They really just want to work with their hands and actually get something accomplished every day. They want their work life to have meaning, purpose, and lasting legacy. Just go to college, earn your degree, and you'll be just fine they said. Get a white collar career and earn a great salary they said. Get married, buy a nice house, put your kids through college they said. Retire wealthy, they said. Yeah, well that's all fine and good while the American economy is going strong and consumerism is rampant (70% of GDP!).... until a financial crisis comes, and then they start outsourcing all the white collar jobs that are left in America as well. That is actually happening right now... they're outsourcing those too. In China, white collar jobs are booming for the exact same work that the former American desk jockeys used to do before they got downsized (translation: were too expensive to just go to meetings, do Powerpoints and push Excel spreadsheets around all day) and at a fraction of the cost. First they gutted the lower middle class (blue collar jobs). Then they gutting the middle- middle class. Now they are gutting the upper middle class (white collar desk jobs). Soon in America there will be nothing left but a few wealthy elites at the top of all the multinational corporations (i.e., Amazon, Google, Apple, etc.), and everyone else working for them but getting paid peanuts (relative to local cost of living, insurance, long term debts, etc.) and barely scraping by. The Democrats solution to this monster of a problem they created is apparently more govt debt, more corp debt, more handouts, more free services, and perhaps even Universal Basic Income. Socialized by more taxes on the middle class and the poor to pay for it all. It's preposterously stupid and naive to think that this will solve things in the short or long term. It's an attempt to bandaid over the problems instead of solving them. It's a snake eating its own tail. |
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Sergey Brin says Google 'failed to be on the bleeding edge' of blockchainhttps://www.cnbc.com/2018/07/09/brin-says-google-failed-the-bleeding-edge-blockchain.htmlAs for his personal interest in blockchain and the digital currencies that it's spawned, Brin admitted he doesn't know "a whole lot about cryptocurrency," but an amateur mining rig set-up with his son piqued his interest.
"A year or two ago my son insisted that we needed to get a gaming PC," Brin said. "I told him If we get a gaming PC we have to mine cryptocurrency. So we got an ethereum miner on there and we’ve been making a few pennies and dollars since."
Brin said, "that definitely got me interested and I started to study the technology behind it and found it to be fascinating."
Is Sergey Brin playing coy about crypto, or is he seriously just out of touch? Sergey, this shit has been around for nine years now!
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actually, to be perfectly honest, if I'da sold a coin or two at 19k,
I'd be feeling pretty gloat-ish about now...
In retrospect I ought to have unloaded the whole bucket and never looked back. So it goes But..bbut... this is exactly what people said back in Dec 2013 when the price hit $1200. Many did unload it all then. And they regret it now. Some didn't. And they feel awesome right now, even after this latest downturn. You know it's gonna happen again, and it will be even more epic. |
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It was surreal. But I was naive. I really thought on some level maybe we could sustain that. I just hated the idea of selling too much. Live and learn, I say.
That's the thing that sucks though. If you are a true believer that long term Bitcoin is a better form of money than fiat, then selling a huge amount just to profit from a bubble feels awful. Especially if you sold it to fund something that is not deflationary. You'll likely not rebuy that Bitcoin back or even reinvest your gains, which defeats the whole point. And you enable the whales to win again, the rich get richer. |
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Pretty amusing when back in January some people here thought the $3k-4k moves up and down every 2-3 days was "just a correction" and completely sustainable, lol.
but not haha amusing. I kind of always knew what the shot was going to be, but my inner bull took over the chinashop. Some said that I was a dreamer. But was I really the only one? I knew back in December when things went parabolic that we were in a bubble. It was surreal. Even my SO said something to me one morning like "yeah... it's looking more and more like another bubble" and she isn't even good at detecting such things. The only question on our minds was how high would it go. Here's the thing : the amount of deep pocket traders $$$ with their crazy leverage is STILL, even after nearly a decade, far outnumbering the amount of $$$ put in by the Average Joe bitcoiners. By far. I think it's going to take another decade or so before these type of swings smooth out. Unless of course, ETFs come online, which means that Average Joe money will never be able to overtake the market. The whales will still maintain control of it. Maybe that's why the CMOE is suddenly more interested in ETFs? |
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Pretty amusing when back in January some people here thought the $3k-4k moves up and down every 2-3 days was "just a correction" and completely sustainable, lol.
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The empty buildings used as tokens for land speculation might be ok if eventually it will be useful. However China has demographic problems, the working population is dropping.
The country is still developing but this kind of empty growth could end up with them poorer over ten years imo, like alot of the world. I've heard Chinese debt described as worse then any other (worthless base worth though land is always worth something).
Did you hear the one guy say that those crumbling hi rises are only 3 years old?? And instead of concrete he chipped away at it with his finger, it was literally stucco covering what looked like cardboard. Like something on a movie set. Here in the U.S., those buildings would be condemned and demolished for not even coming close to meeting code, and the developers fined and jailed. If Chinese people are moved into them, esp. to capacity, they will eventually collapse and people by the hundreds, perhaps thousands will die. And then they truly will be "Ghost Cities". |
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OT : Holy mother of the gods this is bad. https://www.youtube.com/watch?v=XopSDJq6w8EWere Chinese 'ghost' cities ever meant to have even been used?? Or just a place for excess capital spending and malinvestment to go (i.e., built just for show)? This looks like the mother of all ponzi real estate investment schemes. |
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No, none of those, it was just anger. You could tell she was instantly and visibly PISSED. Jaw clenched, mouth tightened, eyes narrowed. No ambiguity in it. It made me feel sorry for what ever man she went home to that night.
I was surprised by that. I don't know why. I don't know what I was expecting. I don't know what I should have been expecting. If you guessed did you guess right?
It was probably jealousy... likely from the fact that you are a young, white male, and that your type gets those kind of breaks in life (her misperception). She probably had you pegged as spoiled and coming from a wealthy family. A trust fund baby. |
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This is why the stock market is completely rigged against the long investor : http://www.businessinsider.com/helios-and-matheson-sold-millions-of-shares-to-keep-moviepass-afloat-2018-7They can print new stock shares (dilution) pretty much any time they want, for any reason. "The numbers are startling. Since August 15, when the company announced its agreement to take a majority stake in MoviePass, Helios & Matheson's share count has increased a staggering 3,429%, from about 7 million shares to nearly 250 million at the end of last month.
Perhaps more incredibly, the company issued most of those shares just in the last two months as it furiously tried to stay ahead of its losses. As of May 11, Helios & Matheson had just 83 million outstanding shares; that number has more than tripled since then."
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It’s pretty tempting to go down the road of “if they really want to be slaves, let them be slaves” but you and I both know that’s not the right answer.
Sometimes you have to save people from themselves, if only because we want to live in a civil society. The Hobbesian jungle isn’t all it’s cracked up to be.
But here's the thing : the debt slavers' game won't ever change. It hasn't changed in 100 years. It was set up and designed from the beginning to keep the working class moderately poor, but more importantly keep them working as long as possible until death. Every "service" given to the public for their supposed benefit comes with a cost, and that cost is a skimmed usury payment. Mortgages, rent, healthcare, car loans, student loans, insurance (for everything), utilities, assessments, subscriptions, property taxes, HOA fees, city taxes, sales taxes, social security benefits, unemployment benefits, long term care, long term investment plans, etc. etc. It's all by design. Just look at the latest rise in online "subscription services" for nearly every damn thing around you. How long until some of these subscription services are no long optional? There has not been and never will be something given for "free". Even supposed free social services, free health care (and possibly direct free money, aka UBI) wouldn't be free at all... they will get their cut one way or the other. They always do. Everything the govt offers comes with a cost to the public. The middle class and poor will get charged a tax burden to subsidize "free" services. The wealthy elites will pay nothing. They privatize gains and socialize losses. They socialize costs to the middle class to pay for the poor. They subsidize "today" at the expense of the future. The only way out for Average Joe is simply to try and not play their game. Or at least minimize it as much as possible. The less reliant he/she is on the govt for services and on constant debt to subsidize one's life, the better off he/she will be. But Average Joe has to figure this out for him/herself. No one is going to "save them", esp not the very establishment that is fucking them over.   |
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$6000 - $7000 feels like 2015 when we were stuck in a price range for a significant time, I think it was $150 - $300.
Does anybody have a feeling we could still be in the $6000 - $7000 range before breaking upwards violently towards the end of 2018?
You could say this is an accumulation phase.
everyone's still crazy bullish and engaged compared to that phase. that was real boredom and indifference by that point. truth There were multi week periods there where the word "bitcoin" did not even cross my mind, this is far from that level of capitulation. I dunno... I'm feeling pretty bored and indifferent right about now. I'm sure most Bitcoiners are feeling the same. Even supposed YouTube "crypto gurus" that spend all of 2017 talking about the crypto markets have lately even turned to talking about other, completely unrelated topics to their subscribers (and getting shit about it, lol). |
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It's a tragedy. Not even most in the white community leave their parents wardship with a passable degree of financial literacy, while almost no one in the black community does. These girls probably didn't have any clue about interest and how it works when they signed their future away and now that they are stuck in the loan they probably further don't understand anything about the advantages of paying down the principal or the advantages of paying down the principal earlier in the term of the loan vs later in the term of the loan. Someone who has a twatter should ask who knows the meaning of the phrase "paying down the principal". I would venture to guess that many of them do not. I'm so glad the government is educating my kids so that I don't have to bother doing any of that myself. -All of their parents Yep. What's even worse for the poor girl with $159K in student loan debt is her dad's statement : https://twitter.com/ItsRaeQuigley/status/1015048699343507457That girl's father needs to be shot. The supposed prestige of those degrees doesn't mean shit. She hasn't a hope or prayer to ever paying that debt off in her entire lifetime and still have a house, a life, etc. She'd have to have a doctor or lawyer's salary to possibly even do it. These parents (and their kids) need to wake the fk up. The ROI for a college degree HAS to be there to make it even worth it these days. Otherwise JUST DON'T DO IT. Find other ways, scholarships, cheaper degrees, online education, work to get experience, etc. Whatever it takes to not be loaded down with student loan debt when you graduate. |
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