Crypto Influence on Current Prices

[Leon]

The bottom line in our economy, as any person even half educated knows, is there is too much money chasing too few goods. Inflation. And whomever says it's transitory is an effing idiot. When wages go down, and the govt quits giving free money to half of America, the prices will go down. And that time is never.

As for crypto, it's just more money in the mix, imo.

Every thread needs a card...
.

[Seven]

I'm not sure how much Crypto has had an effect, but there is a ton of New Blood and returning collectors in the hobby. The government has also been furiously printing money. 40% of the current cash in circulation was printed in the last 12 months, inflation is through the roof, wages are stagnant, I'm not gonna claim the skies are falling but something's going to give, eventually. When that "eventually" is, who knows?

The CPI has increased by close to 7% in a 12 month period, it's the larges increase in 31 years. We're going to hit a wall.

[Bridwell]

In times of inflation, holding cash is a losing proposition. Other losing strategies are money markets, many bonds, CDs, many annuities, etc. with low interest rates. IMO

So therefore, many investors will put money into a scarce asset, such as collectibles or real estate. These are more likely to increase in value with inflation, IMO. For example, the last big era of inflation (late 70's to early 80's) was a huge time for baseball cards.

[Exhibitman]

Now this is what cracks me up about the so-called free market capitalists. We get an earful of the free market protestations when there is a discussion of taxation, regulation, public benefits, unions, etc., but when labor refuses work at the wage offered, they act like the sky is falling if the market is allowed to function. Any non-hypocritical free market capitalist understands that if the workers won't work for the wage offered, you gotta pay more and either absorb that cost or pass it on to the customers.

There's no simplistic answer to these macro-questions; we are in an unprecedented time after a massive sharp drop in output and demand due to COVID so there is going to be pent-up demand unleashed. Not to mention that we have a supply chain mess rippling across the world. A 6%-7% inflation rate pales in comparison to the 20% increases we are seeing on real estate in the larger population centers, the stock market run, the increases in hard asset value, etc. Did anyone really expect that people who've been stuck in a house for over a year and who feel prosperous are not going to go out and spend?

It will pass.

As for cards, might as well just enjoy the ride, use it to reallocate some of your collection away from things maybe you don't like all that much. Or just hold cash for the inevitable correction and then buy when prices drop. Because they will.

[Republicaninmass]

Both have become vehicles for those subscribing to the greater fool theory.

[Mark17]

Originally Posted by Exhibitman

Now this is what cracks me up about the so-called free market capitalists. We get an earful of the free market protestations when there is a discussion of taxation, regulation, public benefits, unions, etc., but when labor refuses work at the wage offered, they act like the sky is falling if the market is allowed to function. Any non-hypocritical free market capitalist understands that if the workers won't work for the wage offered, you gotta pay more and either absorb that cost or pass it on to the customers.

It's not a free market when you have extended unemployment benefits (free money being handed out) for people who aren't working, on one side, and government mandates (forced vaccinations as a requirement to be allowed to get or keep ones' job) on the other.

A free market capitalist would have zero, or very limited unemployment benefits that encourage people to remain out of the work force, and zero forced vaccination, which discourage some people to enter, or remain in, the work force.

The current situation is the result of manipulation, not a free market.

[Johnny630]

Originally Posted by Mark17

It's not a free market when you have extended unemployment benefits (free money being handed out) for people who aren't working, on one side, and government mandates (forced vaccinations as a requirement to be allowed to get or keep ones' job) on the other.

A free market capitalist would have zero, or very limited unemployment benefits that encourage people to remain out of the work force, and zero forced vaccination, which discourage some people to enter, or remain in, the work force.

The current situation is the result of manipulation, not a free market.

Agree +1

[Exhibitman]

Originally Posted by Mark17

It's not a free market when you have extended unemployment benefits (free money being handed out) for people who aren't working, on one side, and government mandates (forced vaccinations as a requirement to be allowed to get or keep ones' job) on the other.

A free market capitalist would have zero, or very limited unemployment benefits that encourage people to remain out of the work force, and zero forced vaccination, which discourage some people to enter, or remain in, the work force.

The current situation is the result of manipulation, not a free market.

No, it is not. It is the product of workers finally learning that slave wages and crap benefits are not worth it. Government money ended and we have not seen a downward drift of wages or increased competition. The opposite; the Great Resignation has intensified. Vaccine mandates help attract employees in many areas of the country where people do not want to be around unvaccinated people, who they perceive to be selfish asshats who put others at risk needlessly. Me included: you want into my office, wear a mask and show me your vaccine card. No? Find another employer, because I am not interested. I'm a fat, middle-aged white man with asthma and high blood pressure. COVID would make me its bitch if I get it, so not interested in the excuses.

[Leon]

Originally Posted by Exhibitman

No, it is not. It is the product of workers finally learning that slave wages and crap benefits are not worth it. Government money ended and we have not seen a downward drift of wages or increased competition. The opposite; the Great Resignation has intensified. Vaccine mandates help attract employees in many areas of the country where people do not want to be around unvaccinated people, who they perceive to be selfish asshats who put others at risk needlessly. Me included: you want into my office, wear a mask and show me your vaccine card. No? Find another employer, because I am not interested. I'm a fat, middle-aged white man with asthma and high blood pressure. COVID would make me its bitch if I get it, so not interested in the excuses.

never mind..no need to rant..
.

[Mark17]

Originally Posted by Exhibitman

No, it is not. It is the product of workers finally learning that slave wages and crap benefits are not worth it. Government money ended and we have not seen a downward drift of wages or increased competition.

If people have decided it isn't worth working, and if government money has ended, then how are people surviving? Is everyone turning into a thief, or are they crawling into cardboard boxes and starving?

End the free money and end forced vaccinations (I thought women, and men too, owned their own bodies) and you'll have levels of employment like we had 2 years ago, when workplace participation was at an all time high.

By the way, I got vaccinated as soon as I was eligible. But I would never presume to force my neighbors, or their children, to do so. I get to live my life and they get to live theirs.

[Republicaninmass]

Originally Posted by Exhibitman

I'm a fat, middle-aged white man with asthma and high blood pressure. COVID would make me its bitch if I get it, so not interested in the excuses.

NOW, all of a sudden you are scared to die?

Sheesh. Diet and exercise probably too tough or a regimen.

[Mark17]

Originally Posted by Republicaninmass

NOW, all of a sudden you are scared to die?

Sheesh. Diet and exercise probably too tough or a regimen.

It's easier to demand everyone else accommodate by getting themselves vaxxed, rather than assume personal responsibility.

This really does illustrate the different ways people look at life. Some want to control others for their own convenience, while others want to control their own lives and are happy to extend that courtesy to others.

[glynparson]

Originally Posted by Exhibitman

No, it is not. It is the product of workers finally learning that slave wages and crap benefits are not worth it. Government money ended and we have not seen a downward drift of wages or increased competition. The opposite; the Great Resignation has intensified. Vaccine mandates help attract employees in many areas of the country where people do not want to be around unvaccinated people, who they perceive to be selfish asshats who put others at risk needlessly. Me included: you want into my office, wear a mask and show me your vaccine card. No? Find another employer, because I am not interested. I'm a fat, middle-aged white man with asthma and high blood pressure. COVID would make me its bitch if I get it, so not interested in the excuses.

I not surprisingly agree with Adam. Could be because he isn’t pretending science is liberal propaganda.and seems to have actually had some classes in economics and the social
Sciences.

[ValKehl]

Originally Posted by Seven

I'm not sure how much Crypto has had an effect, but there is a ton of New Blood and returning collectors in the hobby. The government has also been furiously printing money. 40% of the current cash in circulation was printed in the last 12 months, inflation is through the roof, wages are stagnant, I'm not gonna claim the skies are falling but something's going to give, eventually. When that "eventually" is, who knows?

The CPI has increased by close to 7% in a 12 month period, it's the larges increase in 31 years. We're going to hit a wall.

James, wages have absolutely NOT been stagnant. Here's the link to one of many such reports: https://apnews.com/article/business-...eb5a1111e1df49
This said, I realize that wages have not risen as much as the very recent huge increase in the CPI.

[Seven]

Originally Posted by ValKehl

James, wages have absolutely NOT been stagnant. Here's the link to one of many such reports: https://apnews.com/article/business-...eb5a1111e1df49
This said, I realize that wages have not risen as much as the very recent huge increase in the CPI.

I admit when I'm wrong, I'm glad in this case that I am, a small uptick is better than no movement. Seems like everything is increasing in price though, that could be a dash of reality mixed with a dash of me imagining things.

[toledo_mudhen]

[QUOTE=Leon;2163983]The bottom line in our economy, as any person even half educated knows, is there is too much money chasing too few goods. Inflation. And whomever says it's transitory is an effing idiot. When wages go down, and the govt quits giving free money to half of America, the prices will go down. And that time is never.


Absolutely Agree -