Nothing to worry about. The rich are making money. What's to worry about? Oh, the rest of us are being fleeced by crony capitalism working with socialist government policies to bail them out? Damn... better ignore the negative, it's not pleasant. It will all work out. Trust in the system!
Yup. We've getting screwed. The government in the US and Canada is bailing out bad financial decisions that were present before COVID-19 arrived on the scene. It's the BlackRock bailout, with bad loans and bonds being purchased to keep bad businesses afloat. And yeah, many of them are part of that money-gambling Wall Street clique.
With ultra low interest rates, money is being printed up like mad and given out for stimulating the economy. COmpanies are buying up their own stocks to inflate their value and give themselves and their stock owners money. And people get in on the FOMO to ride the rising tide. Better not ride it too long or you get stuck holding the bag.
The mains street real economy o actual workers producing things and providing material value to the economy, well that's in the shitter.
Source
That's where the real economy is at. Pretty shocking, especially if you buy into the news and propaganda about how great everything is. But the forced unemployment from governments recently has put a major hurt on the regular working folk. The after effects haven't been felt yet, but they will in the future.
As Bruce Wilds at Advancing Time blog notes:
It is important to remember that it is not uncommon to see a time lag before the impact of events is truly revealed, this is why a lot of people will be surprised and shocked by the reality that is about to unfold. Government programs to prop up the economy can only mask the truth for so long. With the demise of so many small businesses unemployment which has skyrocketed is here to stay.
We are about to see the problems in the other sectors of the economy raising their ugly heads and dish out massive pain. When the temporary props, such as the $600 a week to the unemployed, stimulus checks, the Payroll Protection Program (PPP), and aid to State and local governments, come to an end, look out below. These programs being used to move us forward will not gracefully expire, but merely set the stage for another round of props perpetuating this false economy to evolve. In the end, our future has a way of being tied to reality and certain economic laws as well as laws of nature that hope and delusion cannot defy. While these bonds can be ignored for a time the force they have over us at some point will suddenly pull us crashing to the ground.
That's right. The governments fucked us over, and keeps making the problem bigger. Going back to the previous 2008 financial crisis, instead of letting the reality hit us hard, they government bailed out shit companies and put more debt onto the tax slaves.
The bad business practices got a green light to keep going, as they would be bailed out the next time with the bullshit "too big to fail" mentality. And here we are. Except the deceivers have a nice "COVID-19" cover to blame for their fuck ups that were already known in 2019 before COVID showed up. They have been planning another bailout, and COVID to the rescue to falsely justify it.
Whenever reality is going to hit, it's going to hit hard. The unreal bubble of fantasy has gotten so big, and keeps getting bigger with the infinite money printing. We are in for a big crash. It may take another decade or more, who knows. But at some points, reality catches up and it's going to smack us hard like nothing before.
It is ironic this massive sector of our economy produces nothing but holds such power.
Wall Street is a bunch of money changing gambling leeches who produce nothing. Yet hey, they are too big to fail, we "need" them according to the government. What a crock of shit.
Whats happening right now in the stock market is pure greed taking over. A lot of stimulus money being pumped into it sure but smart people surely must see the greed and take it as a sell signal, i know i would.
I hope they do for their own sake, it's pretty whacked out.
You're exactly right. It makes zero difference which political parties are in power. For the longest time, the financial markets have been divorced from the real economy. Ironically, every bit of criticism based on the lack of intrinsic value of cryptocurrenies can be leveled against most mainstream asset classes. Soon, stocks will be nothing but centralized shitcoins whose value is nearly entirely speculative and divorced from the key figures of the underlying businesses. But doubly ironically, Bitcoin and all other cryptocurrencies with it are valued as highly as they are on the markets because of the exact same thing that causes stocks and bonds to be separated from fundamentals: unlimited QE by central banks.
Loose central bank money is the fundamental reason why both BTC is worth > $9000 and why stocks soar while main street is in a death spiral.
Can you imagine what people will say when the blockchain maybe even Bitcoins blockchain is validating the authenticity of physical gold. They want to do this with food, track every single bit of information about the food from seed to shelf to consumer. It will happen with most assets eventually i believe but can you imagine if Bitcoins chain was authenticating and monitoring physical gold. The two would become inseparable, and the world would have a currency which is backed by the fact it backs everything. Its mind blowing.
Supply chain and authenticity validation are one of the most important use cases of blockchain technology particularly in countries where frauds are commonplace in the food industry, for example.
Living in a fantasy is great. WHy let reality bother us :P Bitcoin is more limited, so are most the other pow and pos cryptos, so at least there's that :) But there is a lot of inflation in some places ;)
All this massive borrowing by the US government for lock down bailouts, makes the future of BTC look very bright.
Yeah, apparently it's going to 200k soon, according to previous post-halving patterns. Will be interesting to see if it happens.
Yes we saw the crash coming in September last year already when the yield curve inverted. It was the 2008 crash that was propped up with fiat printing that was doomed to collapse for real anyway. So when the covid pandemic arrived and lockdown was enforced, we could see it as the massive cover-up for the inevitable collapse. The eight year boom and bust cycle had stretched to ten years but was on the cards for a while now. And now it's election year - aperfect time to destabilize the system by the Dems via their Antifa paid anarchists, once lockdown appeared to be wearing off. And the real crash may still be yet to arrive, as this was just the first leg down. I hope the people are prepping.
Yeah, pretty accurate summary. But those Antifa aren't real anarchists. A real anarchist is an an-archonist, no-ruler/no-master, not no rules. The rules are morality, and they don't abide by them.
Well said, I understand what you mean.
The stock market is SO far removed from reality that it might as well be in another galaxy. We talk about fiat money being "nothing but air," but when you look at Wall Street you can really see where the air is...
LOL yes it's empty space if fiat is air :P
Great post! Not so great news... BUT somebody's gotta' say it - and you said it! It is said, and it is true...
So, now.... to crawl under a rock somewhere... :P
LOL, gotta be a big rock to live under. The shitstorm is coming and u will need supplies :P
Yep, you pretty much nailed. The shell game keeps going until the wealth inequality becomes so unbearable that the Marxists get enough support to take over and save us.
By save us, I mean completely fuck us over with even more moronic central planning of a different flavour.
LOL, yes, the marxists will save us by making our lives worse. Wonderful times ahead of slavery+ as morons buy into communism.
Bitcoin economy now!
In time hehe
Oh no
TSLA, AMZN, GOOG, Shopify .... all headed to the Moon. Crazy times.
5.2t dollars for the banks since sep19, 1200usd for the people.
15.000usd for every man, woman, and child, in america goes to the banksters, and Steve Mnuchin can't decide if we need another bailout.
Smdh.
Admins and mods, can you mute this spammer?
@ura-soul ADMIN
@ausbitbank ADMIN
@v4vapid ADMIN
@deepdives ADMIN El Profundo
@krnel MOD
@palikari123 MOD
Agreed, it is disappointing to see that diversity of opinion on a 'decentralized' platform is so intolerable to some.
It would be ok if he wrote it manually, but what he is doing is auto spam
Yes, and as multiple users have requested clarification on exactly what points or instances are being referred to as 'known to spread dangerous misinformation' and received no reply. It is nothing more than spam designed to harass and provoke targeted users. Additionally, we'd love to know what outlets are considered 'reputable sources'.
It's dangerous misinformation that threatens their own monopolistic behaviour.😉 Do as I say, or else.
precisely