Stock Markets and Crypto are Crashing Pretty Hard rn - Politics Forum.org | PoFo

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#15228123
Stock markets and Crypto have tanked hard for awhile now, with "NFTs" and the "stablecoin" Luna having lost close to 100% of their value in many cases.

I remember when I thought I was cool to have made like 25% in a year and some crypto kids were laughing in my faces, wearing sunglasses indoors to try and hide how high they were, talking about how they had made a million bucks in the last year. They're probably not laughing now, it seems like the bill is finally coming due.

I've thought of myself as a good investor, having stayed away from crypto, meme stocks and so-on and still done fairly well but even commodities have dropped hard recently as they got over-invested into as a safe haven. I personally was almost entirely into commodities so when those tanked I lost a lot, although still fairing better than the crypto kids.

I saw an article recently which claimed that a box of chicken wings will be over $30 before this is over. Where are all the guys who said that printing money would not cause economic instability or inflation now? Because it's pretty much international at this point. There is no country, no asset class, no form of investment that hasn't suffered over this.
#15228128
BlutoSays wrote:I'm heavily in cash right now except for a few stocks because these donkeys are so destructive. Fitting mascot for the party of stupid.

I'm 50% in commodities and 50% in low ball oil puts. I should probably keep more plain cash in reserve. Even that is not safe though because of the inflation devaluing your cash, so there is apparently nothing safe at the moment.
#15228216
Wulfschilde wrote:There is no country, no asset class, no form of investment that hasn't suffered over this.


The last thing i would buy right now is "crypto" from some arrogant 25 year old con artist. Real estate has been around forever. My real estate has gone up 800 or 1000 % and i get to live for free in a neighborhood by the ocean where multi million dollar condos are going up left and right. My renters pay the bills.
Last edited by jimjam on 19 May 2022 04:14, edited 1 time in total.
#15228223
BlutoSays wrote:I'm heavily in cash right now except for a few stocks because these donkeys are so destructive. Fitting mascot for the party of stupid.

The markets are just correcting from the last couple of years of inflated stocks and speculative manias like NFTs and crypto. It was inevitable. Add rising interest rates which will slow spending and tadow a recession.
#15228227
Igor Antunov wrote:I'm still only working <15 hours a week and still accumulating, probably won't have to work at all in 5 years. Consider me sound advice. Not my fault you can't handle the bantz.

If you buy in and cryptos crash and never recover, which is a very real possibility, you're broke.

This has happened before. https://en.wikipedia.org/wiki/Dot-com_bubble

You're basically playing roulette because you don't know which crash is the final one until its too late, and you don't know when any crash will happen. You're trying to time the market, which is a fools errand because its impossible. Not even the best algorithms in the world can do it.
#15228229
Unthinking Majority wrote:
If you buy in and cryptos crash and never recover, which is a very real possibility, you're broke.

This has happened before. https://en.wikipedia.org/wiki/Dot-com_bubble

You're basically playing roulette because you don't know which crash is the final one until its too late, and you don't know when any crash will happen. You're trying to time the market, which is a fools errand because its impossible. Not even the best algorithms in the world can do it.



And, yet, this is the world's *economics* -- ? -- !
#15228269
Wulfschilde wrote:Stock markets and Crypto have tanked hard for awhile now, with "NFTs" and the "stablecoin" Luna having lost close to 100% of their value in many cases.

I remember when I thought I was cool to have made like 25% in a year and some crypto kids were laughing in my faces, wearing sunglasses indoors to try and hide how high they were, talking about how they had made a million bucks in the last year. They're probably not laughing now, it seems like the bill is finally coming due.

I've thought of myself as a good investor, having stayed away from crypto, meme stocks and so-on and still done fairly well but even commodities have dropped hard recently as they got over-invested into as a safe haven. I personally was almost entirely into commodities so when those tanked I lost a lot, although still fairing better than the crypto kids.

I saw an article recently which claimed that a box of chicken wings will be over $30 before this is over. Where are all the guys who said that printing money would not cause economic instability or inflation now? Because it's pretty much international at this point. There is no country, no asset class, no form of investment that hasn't suffered over this.


Lurkers, Wulfschilde is asserting that just about every nation has had huge deficits for the last 10 years (or so it seems, but he isn't very specific about which gov. policies he objects too). AFAIK, this is just false. The EU has rules that kept the nations from running up deficits until covid made the ECB violate the rules. Canada has not followed the UD to multiply its national debt by 30 times over the last 40 years. Aust. and NZ have not done that either. AFAIK, it is mostly Japan and the US.

And yet every nation has more inflation than before.
.
#15228381
GOLD?

Nobody, especially the government, needs to know you hold it, these are dangerous times. If banks, stocks, crypto , enema futures crash, you are left with some paper "statements". If gold crashes, it is still where you last left it and, for sure, it will be back more surely than a piece of paper listing your now worthless assets.
#15228406
Unthinking Majority wrote:If you buy in and cryptos crash and never recover, which is a very real possibility, you're broke.

This has happened before. https://en.wikipedia.org/wiki/Dot-com_bubble

You're basically playing roulette because you don't know which crash is the final one until its too late, and you don't know when any crash will happen. You're trying to time the market, which is a fools errand because its impossible. Not even the best algorithms in the world can do it.


I've already cashed out multiple times. Nest egg is retirement tier worthy. I never reinvest more than 20%. I don't care, gonna keep milking the crypto teet until there's nothing left. My only concern is inflation, if national currencies keep inflating to shit I'll start buying precious metals by the tonne and start investing more than 20% back into crypto. Gold doesn't rust and the blockchain isn't going down until somebody breaks the cryptography.

Rancid wrote:What exactly is the value of crypto? Why would I want to use crypto in my day to day life?


It's an incredibly secure, decentralized, independent way to pay for goods and services if you know what you're doing. No need for banks, accounts, stacks of paper cash, etc.
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