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The entire economy is a pyramid scheme just begging to collapse. Google worth over $1 trillion, Microsoft worth over $1.36 trillion, Apple over $1.37 trillion,
by cryptica 7y ago
The entire economy is a pyramid scheme just begging to collapse. Google worth over $1 trillion, Microsoft worth over $1.36 trillion, Apple over $1.37 trillion, Amazon over $1 trillion.
Bitcoin $200 billion. A lot of terrible unscalable and insecure cryptocurrencies worth over $1 billion each.
Even IOTA cryptocurrency which experienced a massive hack followed by total failure of the network is still almost worth over $700 million. The thing failed completely and the market still thinks it's worth $700 million... These are more or less the same kind of people who participate in other mainstream stock markets.
US national debt is at 23 trillion. Close to 0% interest rate for an entire decade.
We are way past the point where we should be worried; that point was probably 10 years ago.
Everything everyone knows about the economy and value creation is wrong.
It's a giant, fiat-fueled pyramid scheme and as soon as just a couple of semi-intelligent billionaires start to sell their stocks, it's going to collapse.
Unlike the 2008 crisis, this time, we don't even need to find a single specific cause.
The next economic depression will have so many causes that it will be easier to explain what is NOT the cause.
- pfdietz 7y agoWe don't need a specific cause, but a pandemic looks like it'll be a really big one.
- allovernow 7y agoIf you look at market history the last ≈5 recessions have all occured with a regular intervals of about 7 years. I think recessions are just a normal, emergent vent in an oscillatory system. It seems like putting one off artificially will lead to a more severe depression.
- cryptica 7y agoI agree. I think filter bubbles will be to blame for delaying the next recession. Maybe the corona virus had an impact in terms of showing investors that big news can transcend filter bubbles and we are not immune from global panic.
- deleted 7y ago[deleted]
- soared 7y agoOr hold us above water until it naturally oscillates up, who’s to say? Not everything is like alcohol (fun then hangover).
- hindsightbias 7y ago> as soon as just a couple of billionaires start to sell their stocks And buy what, Tulips? I do have TulipCoin trademarked.
- anigbrowl 7y agoLand in remote areas?
- apta 7y agoFiat currency, coupled with an economy based on usury (aka interest), is definitely not sustainable. It's scary to think about what may happen when it all comes down.
- cryptica 7y agoIt's interesting that everyone hundreds of years ago understood that usury was bad but the most highly educated economists today don't understand this.