agip wrote:
Behold the Bitcoin rainbow chart
https://twitter.com/gentletrades/status/1395229680161026051?s=21
Beautiful
agip wrote:
Behold the Bitcoin rainbow chart
https://twitter.com/gentletrades/status/1395229680161026051?s=21
Beautiful
agip wrote:
seattle prattle wrote:
Okay, let's talk.
You know why crap like crypto caught on? Here's why.
Because it used to be that labor was treated for the valuable resource it is. Companies tried to build employee loyalty with things like a decent living wage, and not to mention real world considerations like health care, retirement plans, pensions, and other necessities that a responsible person could use to safeguard themselves and their families.
Then labor took a hit for several decades, union representation eroded, and labor lost ground. Pensions became a thing of the past, retirement plans became a diy enterprise, and wealth inequality exploded. The middle class shrank.
So, with things like 401K becoming the go-it-alone norm, people got more and more comfortable with chasing ever higher returns. Hence, speculation.
But frankly, crypto is a distraction. It is not a market driving force and more of an anomaly.
FWIW, if you want to talk about the real f'g things that shape standard of living, look at what Biden is trying to improve. And by that I mean access to education, raising the minimum wage, access to affordable health care, etc.
1. Labor taking a hit. Well sorta. More accurately labor gets paid in health insurance rather than dollars. It's still of value, but non-cash and not part of 'wages.' In other words, workers used to get say $1000/year in health insurance. Now they get, say, $10,000 in health insurance. If today's workers got that $10,000 cash instead of $10,000 in health insurance...their wages would obviously be far, far higher. Cash vs non-cash compensation complicates things greatly.
And most wage data is measured pre-tax. Which is silly. Measured post-tax wages, add the value of health care, and wages have risen strongly.
2. The middle class has shrunken, yes, because they moved into the upper middle class. This is a good thing, not a bad thing. Think about it...two $60,000 wages in a home, which is not that hard to get, is $120,000 and a lot of money.
3. I have no idea why crypto caught on. A lot of money sloshing around, a lot of men working from home probably did more than anything.
Couple points…
I’ve been trying to make my Lefty pals realize your #2 for YEARS now. In addition to outsourcing millions of manufacturing jobs, the standardization of the dual income household is the follow-up punch to the middle class. As you point out, two modest incomes equal a pretty solid living, especially if you can avoid “keeping up with the Joneses” and control costs.
To Seattle’s Biden remark- you need to stop parroting things that are clearly false regarding politics. If you haven’t noticed, Biden immediately caved in his $15/hr minimum wage campaign promise and stated during the campaign that he would NOT pursue Medicare for all. Then right after getting installed into office he reversed Trump’s executive order that reduced prescription cost by up to 80% (insulin prices have skyrocketed back up to the levels before Trump’s EO; a family member’s insulin went from $25 to $115 now). How can you not realize that the new-age Corporate Democrats are more in bed with big business than Republicans? Wall Street realized that they can get away with more atrocities/fraud if they act PC and Woke. (They got their tax break from Trump & Republicans, so time to move to the next best thing.) Hence, Joe Biden received 80%+ of Wall Street donations. You think these corporations want to pay $15/hr in small town Kansas? Or in Louisiana? Nope. Wall Street has co-opted the Democrat party to get what IT wants. The corporate Dem platform of making Progressive promises and doing nothing to implement them will be a boon for big Pharma and the insurance companies. And you’ll still defend them!
(Btw- The federal $15/hr min wage argument is ignorant anyway. There’s no reason for the minimum wage to be the same in small town Kansas as it is in NYC, Seattle, SF, etc. If small town Kansas is forced to implement $15/hr min wage, then it needs to be $30+ in NYC, Seattle, SF… and that’s where the wheels fall off the argument.)
Both parties in bed with various interests to the detriment of the population. It is all about maintaining power whether it is Blue Team or Red Team. Biden is a second rate political hack propped up to deliver the daily dictates of those currently in charge. It is ridiculous to believe this dope is any morally better than Trump. Probably worse since he has plenty imbedded in power to cover for his corruption.
Ghost of Igloi wrote:
Both parties in bed with various interests to the detriment of the population. It is all about maintaining power whether it is Blue Team or Red Team. Biden is a second rate political hack propped up to deliver the daily dictates of those currently in charge. It is ridiculous to believe this dope is any morally better than Trump. Probably worse since he has plenty imbedded in power to cover for his corruption.
it's really astonishing, Igy.
Trump has been caught, for all his adult life, thieving, stealing, cheating, lying, suing for no reason, cheating on taxes, defrauding students in his school...he's literally been ****caught**** doing these things his whole life. He's paid massive fines, admitted he's a degenerate liar, lost the right to run a charity because he stole from it, etc.
Biden's list of 'being caughts' are...are... are...some weak plagiarism. Full stop, as far as I know.
But you...have translated all this, which is indisputable fact...to saying Biden is worse morally.
It's boggling, Igy. Boggling.
I mean just admit that you will excuse Trump's failings because you like his politics. It's not that hard to do and would be infinitely more honest.
agip wrote:
Ghost of Igloi wrote:
Both parties in bed with various interests to the detriment of the population. It is all about maintaining power whether it is Blue Team or Red Team. Biden is a second rate political hack propped up to deliver the daily dictates of those currently in charge. It is ridiculous to believe this dope is any morally better than Trump. Probably worse since he has plenty imbedded in power to cover for his corruption.
it's really astonishing, Igy.
Trump has been caught, for all his adult life, thieving, stealing, cheating, lying, suing for no reason, cheating on taxes, defrauding students in his school...he's literally been ****caught**** doing these things his whole life. He's paid massive fines, admitted he's a degenerate liar, lost the right to run a charity because he stole from it, etc.
Biden's list of 'being caughts' are...are... are...some weak plagiarism. Full stop, as far as I know.
But you...have translated all this, which is indisputable fact...to saying Biden is worse morally.
It's boggling, Igy. Boggling.
I mean just admit that you will excuse Trump's failings because you like his politics. It's not that hard to do and would be infinitely more honest.
Oh, snap!
agip wrote:
Ghost of Igloi wrote:
Both parties in bed with various interests to the detriment of the population. It is all about maintaining power whether it is Blue Team or Red Team. Biden is a second rate political hack propped up to deliver the daily dictates of those currently in charge. It is ridiculous to believe this dope is any morally better than Trump. Probably worse since he has plenty imbedded in power to cover for his corruption.
it's really astonishing, Igy.
Trump has been caught, for all his adult life, thieving, stealing, cheating, lying, suing for no reason, cheating on taxes, defrauding students in his school...he's literally been ****caught**** doing these things his whole life. He's paid massive fines, admitted he's a degenerate liar, lost the right to run a charity because he stole from it, etc.
Biden's list of 'being caughts' are...are... are...some weak plagiarism. Full stop, as far as I know.
But you...have translated all this, which is indisputable fact...to saying Biden is worse morally.
It's boggling, Igy. Boggling.
I mean just admit that you will excuse Trump's failings because you like his politics. It's not that hard to do and would be infinitely more honest.
He's just a garden variety boomer. Nothing to get too worked up over really.
Racket, PhD wrote:
agip wrote:
it's really astonishing, Igy.
Trump has been caught, for all his adult life, thieving, stealing, cheating, lying, suing for no reason, cheating on taxes, defrauding students in his school...he's literally been ****caught**** doing these things his whole life. He's paid massive fines, admitted he's a degenerate liar, lost the right to run a charity because he stole from it, etc.
Biden's list of 'being caughts' are...are... are...some weak plagiarism. Full stop, as far as I know.
But you...have translated all this, which is indisputable fact...to saying Biden is worse morally.
It's boggling, Igy. Boggling.
I mean just admit that you will excuse Trump's failings because you like his politics. It's not that hard to do and would be infinitely more honest.
He's just a garden variety boomer. Nothing to get too worked up over really.
well now you dropped the hammer Doc R
I try to stay away from politics because the Never Trumpers are just as blind as the Trumpers. They are both part of a toxic brew that does little for the country. Government doles mask the sorry condition of a sick society.
Ghost of Igloi wrote:
I try to stay away from politics because the Never Trumpers are just as blind as the Trumpers. They are both part of a toxic brew that does little for the country. Government doles mask the sorry condition of a sick society.
It’s refreshing to read you admitting to being blind.
You are the perfect example of a psychotic person. Nothing better to do than what you do. Sorry example of a human being. Wasted turd of a life, while always moralizing in others.
Earnings Scorecard: For Q1 2021 (with 95% of the companies in the S&P 500 reporting actual results), 86% of S&P 500 companies have reported a positive EPS surprise and 76% of S&P 500 companies have reported a positive revenue surprise. If 86% is the final percentage, it will mark the highest percentage of S&P 500 companies reporting a positive EPS surprise since FactSet began tracking this metric in 2008.
Whelp. Getting absolute REKT on crypto, but still up pretty good overall. Bought some more at the lows. Keeping a cash reserve to weather the storm.
I'm 29 and live at home. I have about 20k more reserve to invest if there' s a good opportunity, and 12 months of living expenses (3k/month if I were on my own).
agip wrote:
Ghost of Igloi wrote:
Both parties in bed with various interests to the detriment of the population. It is all about maintaining power whether it is Blue Team or Red Team. Biden is a second rate political hack propped up to deliver the daily dictates of those currently in charge. It is ridiculous to believe this dope is any morally better than Trump. Probably worse since he has plenty imbedded in power to cover for his corruption.
it's really astonishing, Igy.
Trump has been caught, for all his adult life, thieving, stealing, cheating, lying, suing for no reason, cheating on taxes, defrauding students in his school...he's literally been ****caught**** doing these things his whole life. He's paid massive fines, admitted he's a degenerate liar, lost the right to run a charity because he stole from it, etc.
Biden's list of 'being caughts' are...are... are...some weak plagiarism. Full stop, as far as I know.
But you...have translated all this, which is indisputable fact...to saying Biden is worse morally.
It's boggling, Igy. Boggling.
I mean just admit that you will excuse Trump's failings because you like his politics. It's not that hard to do and would be infinitely more honest.
Igy - advice is to not even engage today’s leftists. They are so brainwashed, so illogical, so arrogant that you are better talking to a rock.
I try to avoid the Trump and Biden threads. Toxic, nasty, and the same rehash. And unbelievably in the case of the Trump thread, still alive. We have a liberal friend that no longer welcome at the house. Constantly arguing for their side of politics. Superior attitude. Really annoying.
Hi Honey. How's that Bitcoin investment going? Can we retire now?
Down 50% darling.
In how many days?
39.
That's nice. Carry on.
$6-15k by the end of the year, you heard it here first... that’s when I bring out the dry powder and lay it all down on double zero...
Humm.....doc idiot’s target of $6-15k or Cathie Wood’s $500k......?..
agip wrote:
Hi Honey. How's that Bitcoin investment going? Can we retire now?
Down 50% darling.
In how many days?
39.
That's nice. Carry on.
I don't think i made but a couple of profitable trades in that thing (bitcoin and ethereum for me). I'm out again, totally.
The good news is that i had the sense to not risk more than pocket change, and my losses therein are inconsequential. The bad news is a terrible track record nonetheless.
This sell-off really seems to me to have legs this time.
1 Month
GME +12
Energy +9
Gold +5
Materials +4
Value +3
Non US Devlpd +2
Hussman +2
TIPS +1
PTON +1
Treas 0
REITS 0
60/40 0
Retail 0
SP500 0
USA -1
Emerging -1
Sm Caps -1
Weed -3
CHina -3
Cons Disc -4
Tech -5
Clean Energy -8
ARKK -13
TSLA -22
BTC -34
US has not led this last month.
tech continues the Big Lag
The consumer discretionary trade lost a lot of steam - maybe predicting the end of the US shopping spree.
Gold, value, energy...buncha old fashioned assets doing well.
Hussman chugging along quite well.