I think people have the right to be happy to see the back of Elon.
Sure, he bought Bitcoin and many rejoiced, but then he started down the mental Dogecoin route and revealed he actually doesn't even own property any longer.
That is not a person this community needs to help educate people about Bitcoin, inflation and how to hold onto your wealth.
Eventually he will probably be booted out of Tesla as his erratic behaviour stemming from boredom is not what a business needs in the long run.
With SpaceX he would be booted out as soon as one of the manned missions doesn't come back.
Not sure about SpaceX but Tesla is going broke soon. Other car manufacturers are coming up with more and more competitive models so Tesla is not unique anymore, it has low build quality, expensive repairs etc. Tesla is doomed, there is now way they can compete with Mercedes, Porsche, Audi, Lexus and other old school brands.  More accurately: Tesla going broke soon because they are no longer getting government EV tax credits (*cough* subsidies *cough*). And also competition coming online. I think people have the right to be happy to see the back of Elon.
Sure, he bought Bitcoin and many rejoiced, but then he started down the mental Dogecoin route and revealed he actually doesn't even own property any longer.
Paper hands Elon. Is anyone really surprised? |
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It is still possible that the whole bear was fake and aimed at ruining CeFi lenders and funds (3AC, Celsius, Voyager) plus idiotic Terra.
Some Mr/Ms smartie pants (of Goldman, etc ilk...SBF comes to mind) could have figured out that those funds/lenders were way out of balance and pulled the rug.
Wallet data (0.1-1BTC and >1BTC) showed NO typical bear decrease.
Maybe that's why we never had a blowoff top and did not decline 84% (only -74% at max down).
BTW, some stonks are surging too..i have some biotechs that bottomed in May-June and are now almost 100% up. A super-bounce into more tightening? A bit strange.
IMHO, 75bp and they are probably done until the EOY.
I imagine that until the Fed is finally done with their rate hikes by EOY, there will be all kinds of shenanigans, fuckery, fake outs, and shake outs going on with both stonk and bitcoin price volatility. I wouldn't trust any rallies as a sign of a new bull run until they are done done. |
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I don't get the relationship between remote work and wages, that must be a US specific thing. When a job is doable remotely, companies don't really have a choice on the matter if they don't want to lose employees and have difficulty recruiting, unless they pay a lot more, that might be what they mean. No. It is gaslighting. U.S. corporations firmly resisted allowing work from home employees for a very long time, several decades in fact, because they claimed to lack the proper technology to monitor (aka spy) on exactly what their employees were doing all day. Also, they continued to beat the drum of "Being in the office fosters greater teamwork, team meetings, and collaboration." Now that they don't care about true teamwork and collaboration anymore, want to actually downsize their employment staff, want to get rid of expensive office site building leases and all the other capital expenses that go along with it, and now have the means to spy and track everything their employees do remotely with company-provided computer terminals and VPNs, they NOW claim that they have no choice but to "allow employees to work from home." It's all bullshit gaslighting and spin. It will now give them the advantages of capping employee pay, skipping yearly pay wage increases and/or bonuses, and even laying off employees without the other remaining employees talking about or noticing any changes (like they would if everyone congregated at an office building location). All that will be spun and sold to the public as "The perks of working from home."  Do you get it now? |
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PSA: How to not freak out citizens in your state. /s  |
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I buy a lot of meat on line.
Where do you buy your meat online? Is it cheaper than what you find in your grocery stores? |
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BREAKING: US INFLATION HITS 9.1%, A NEW 40-YEAR HIGH Welp, any hope that the Fed would pump the brakes on rate hikes are now dashed. They'll probably go another +75 bbp on the next one, which will crush all markets. Again. Wall Street will continue to short everything. Bitcoin will still go nowhere. This whole year was designed to suck ass. Funny how they crushed both Bitcoin and Precious Metals on the inflation news. Makes so much sense, right? /s |
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^^^^^^^^^^^^^^^^^^^
Yes, Chinese banks are now running a Ponzi scam of epic proportions.
It won't end well.
Tis not just the Chinese either. True. There will be rug pulls all over the world coming soon. |
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^^^^^^^^^^^^^^^^^^^
Yes, Chinese banks are now running a Ponzi scam of epic proportions.
It won't end well.
The biggest ponzi the Chinese govt ran on its own people was getting them to all lock up their hard earned savings into "apartment property investments" built in the middle of nowhere that can't even be resold, because they are unfinished or falling apart. The Chinese banks and property developers then used that money to invest in other over-leveraged financial scams, annnnnnnnd.... now it's gone.
Brilliant scam. It won't end well either.
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And that rebuilding is quite literally the broken window fallacy.
It's funny you mention the broken window fallacy. I agree that it's fake economic progress, but it appears TPTB have now decided that it's the only way to generate worldwide GDP. Purposefully break shit (or let shit break), and then print new money to clean it up and rebuild. |
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Is preev.com really gone? How am I going to check bitcoin value every 5 seconds now?!
I can't get it either, that sucks. tradingview isn't cool anymore? Not. Even. Close. Preev was simple, quick to load, didn't load a bunch of info i didnt request and it was easy to type. Perfect fir the middle of the night from bed with my bedside iphone4S. Also, if I needed to check the price from anywhere, I could accost the nearest person with a phone and say, "Go to preev.com, please." and they would comply and show me the screen. "Go to tradingview.com/symbols/btcusd, please" is just going to get me weird looks and possibly a punch to the head. Come on, man. Not cool.  |
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OT: Ok, so I've seen on multiple financial channels now where financial analysts have repeated that "Stocks will begin to rise when a full-blown recession is confirmed." What a fucked up world we live in now when that statement is supposed to make any sense.  I guess the idea is that after a recession there is a recovery, so they're already anticipating that, but it seems very premature indeed. Alternatively recession means rate cuts and free money again, but that would mean inflation also has to recede. I have a bad feeling that a recovery in Emerging Markets = a rise in U.S. corp stonks. If so, that means that the U.S. stonk market is no longer tied to nor reflects the U.S... and its a confirmation that our government and financial sec no longer serves American interests. Why else would Biden send nearly a million barrels of U.S. oil reserves to China during a period the worse gas inflation in the U.S. ? |
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Japanese culture is fascinating indeed. I wouldn't really want to live there, though, and countries with low birth rates frighten me, all these old people around with less and less young... I'm not advocating for making babies like rabbits, quite the contrary, I'm all for population decline, but it should be gradual over decades, with let's say 1.8 children/woman. In my country where this is about the number, and we also have lots of immigration (way too much and from the wrong countries...), old people are already making grocery runs on Saturday mornings and week evenings, when they could do it when we're at work, just because they want to see younger people, so imagine a society with many more old ones and few young ones, these poor young people would be literally harassed ! Also more and more of the economy would be around taking care of old people, not really inspiring.
We talk about zombie companies, but Japan is a prime example of what an entire zombie country looks like. When you crush young peoples' hopes and future with mindless, inane robotic work and terrible economic and monetary policies, you crush their joy for life. Funny how when that happens, young people tend to lose interest in the opposite sex and stop having babies...imagine that! Incidentally, it's happening all over the world rn. |
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OT: Ok, so I've seen on multiple financial channels now where financial analysts have repeated that "Stocks will begin to rise when a full-blown recession is confirmed." What a fucked up world we live in now when that statement is supposed to make any sense. |
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If anything it might make things worse trying to get us back into the EU somehow, which wouldn't surprise me will happen.
Perhaps that was the plan all along. |
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