5 ms·

I've called it the end of the post-9/11 era, but that's not quite the same thing.

by api 6y ago

entropicdrifter 6y ago
I'd say your description is spot-on, at least culturally. It's also the end of the post-08 crash era and the start of the post-20 crash era
- solumos 6y ago
  It seems a lot of people feared a tech bubble pop throughout the 2010s after the 08 crash, but it never really happened - hence the current "froth"
  - api 6y ago
    There are certainly short term tech bubbles but long term I don't think tech is a bubble. This stuff is here to stay and absolutely core to the economy, even more so after COVID mainstreamed telework. Right now I think the biggest potential bubble is top-tier city real estate where residential is more than 10X median family income. Commercial real estate is probably in a bubble too, at least in those "hot" cities.
    - altdatathrow 6y ago
      tech being here to stay is not contradictory with current bubble prices
- aphextron 6y ago
  > It's also the end of the post-08 crash era and the start of the post-20 crash era What crash? SP500 hit an all time high on Friday.
  - hpkuarg 6y ago
    A crash in the real economy, if you will. Equity prices may or may not follow. There's a good chance that one year from now, the S&P 500 will be substantially lower than it is today.
    - poulsbohemian 6y ago
      >the S&P 500 will be substantially lower than it is today. I'm curious - are you speaking speculatively here or do you have reasons why you believe that will be the case?
    - deleted 6y ago
      [deleted]
  - 1996 6y ago
    The Fed printed 40 cents for every dollar that existed in March: https://www.dailyhandle.com/the-government-has-printed-40-cents-for-every-dollar-that-existed-in-march/ https://www.dailyhandle.com/the-government-has-printed-40-ce... Expect all-time-highs in many things as 40% inflation goes trickles down, now that the velocity of money has stopped crashing: https://fred.stlouisfed.org/series/M1V https://fred.stlouisfed.org/series/M1V
    - deleted 6y ago
      [deleted]
    - NineStarPoint 6y ago
      Worth noting that the current long term trend is the velocity of money going down, no reason to expect it to turn back up necessarily. Definitely is a strong reason stocks are so overvalued though, yeah.
      - 1996 6y ago
        > no reason to expect it to turn back up necessarily. Except that looking at the Fred graphs, now that the worst of Covid seems behind us, it's starting to. Even if it doesn't go back to 2000 levels, it's certainly going to get to 2019 levels - meaning not just overvalued stocks but inflation too. It's gonna hurt, but as it will also fix the student loan crisis, it could be overall a good thing!
        entropicdrifter 6y ago
        Looking at the rates of deaths and infections, the worst of COVID is right now, at least in the USA. It's good that the vaccines are starting to be distributed but it was only a week ago that my state sent out an emergency text for the first time ever stating that statewide hospital capacity was 90% used up.
  - jjk166 6y ago
    The stock market isn't the economy
- birdsbirdsbirds 6y ago
  The world is going remote, thus finally becoming the global village that the early start-ups envisioned. Why should there be a crash if huge optimization improvements are made? The only things that will tank are the airline industries and the real estate market.
  - danhak 6y ago
    Optimization improvements for whom? Those who already held significant assets and highly-trained white-collar knowledge workers? Yes. Others? Not so much. Wealth inequality was a serious issue before the pandemic and this so-called "K-Shaped Recovery" has dramatically accelerated the trend. We're in for some turbulent times ahead... “The future is already here – it's just not evenly distributed."
    - birdsbirdsbirds 6y ago
      Production is limited by energy supply. Once renewable energies have reached the point where carbon hydrates have to be dumped onto the market to make any profit at all, there will be an abundance of energy. At that moment, unless enough AI is built, workers will become the scarce resource.
  - poulsbohemian 6y ago
    >and the real estate market. I'm not sure this will even be the case, depending on your perspective. Yes, we appear to be seeing a correction in commercial class A office space in major metros - but I'd argue that was a long time coming regardless. We may see a correction in residential real estate in those same major metros, but out here in rural America we're seeing an influx of people looking for better value than they were getting in coastal cities and it's driving our markets upward.
bigbubba 6y ago
It won't be that until I'm allowed to keep my shoes on and bring a liter bottle of seltzer water with me when I fly.
- koolba 6y ago
  I bet they’ll let you bring it if you tell them it’s hand sanitizer. Which is hilarious as the latter combined with a lighter could be a potent improvised weapon.
  - evilduck 6y ago
    They already let us fly with numerous lithium fire hazards per person. All you need is something like a metal barreled ink pen to pierce the battery pack. Heck, what protection is there from me getting some volume of mercury on board? A pressurized aluminum airframe would not take kindly to spilling any amount of that.
    - na85 6y ago
      Destroying the aircraft in mid air isn't really the threat any more, though. The threat is using the airplane and its occupants as unwilling kamikaze weapons as in 9/11, and with the armored doors on the flight deck now it's unlikely the aircrew will allow the aircraft to be hijacked no matter what you bring on board. There's a reason the flight attendants stand in front of the door when the pilots have to use the washroom; it's so that you have to kill or incapacitate them first which buys the pilot(s) time to close and secure the armored door.
      - bigbubba 6y ago
        Shoes are obstensibly removed to prevent the destruction of planes, not their hijacking. The problem of planes being hijacked was solved around 10am on 2001/9/11, before the government got involved. And if passengers fighting back isn't enough, locked cabin doors should be. Incidentally, passengers kicked the shit out of the would-be shoe bomber too.
justinzollars 6y ago
I'd love for 9/11 era to end. It was so easy to bank before know-your-customer. We not only lost all personal freedom, we lost all of our financial freedom

I've called it the end of the post-9/11 era, but that's not quite the same thing.

by api 6y ago

I've called it the end of the post-9/11 era, but that's not quite the same thing.

I'd say your description is spot-on, at least culturally. It's also the end of the post-08 crash era and the start of the post-20 crash era

solumos 6y ago
It seems a lot of people feared a tech bubble pop throughout the 2010s after the 08 crash, but it never really happened - hence the current "froth"
- api 6y ago
  There are certainly short term tech bubbles but long term I don't think tech is a bubble. This stuff is here to stay and absolutely core to the economy, even more so after COVID mainstreamed telework. Right now I think the biggest potential bubble is top-tier city real estate where residential is more than 10X median family income. Commercial real estate is probably in a bubble too, at least in those "hot" cities.
  - altdatathrow 6y ago
    tech being here to stay is not contradictory with current bubble prices
aphextron 6y ago
> It's also the end of the post-08 crash era and the start of the post-20 crash era What crash? SP500 hit an all time high on Friday.
- hpkuarg 6y ago
  A crash in the real economy, if you will. Equity prices may or may not follow. There's a good chance that one year from now, the S&P 500 will be substantially lower than it is today.
  - poulsbohemian 6y ago
    >the S&P 500 will be substantially lower than it is today. I'm curious - are you speaking speculatively here or do you have reasons why you believe that will be the case?
  - deleted 6y ago
    [deleted]
- 1996 6y ago
  The Fed printed 40 cents for every dollar that existed in March: https://www.dailyhandle.com/the-government-has-printed-40-cents-for-every-dollar-that-existed-in-march/ https://www.dailyhandle.com/the-government-has-printed-40-ce... Expect all-time-highs in many things as 40% inflation goes trickles down, now that the velocity of money has stopped crashing: https://fred.stlouisfed.org/series/M1V https://fred.stlouisfed.org/series/M1V
  - deleted 6y ago
    [deleted]
  - NineStarPoint 6y ago
    Worth noting that the current long term trend is the velocity of money going down, no reason to expect it to turn back up necessarily. Definitely is a strong reason stocks are so overvalued though, yeah.
    - 1996 6y ago
      > no reason to expect it to turn back up necessarily. Except that looking at the Fred graphs, now that the worst of Covid seems behind us, it's starting to. Even if it doesn't go back to 2000 levels, it's certainly going to get to 2019 levels - meaning not just overvalued stocks but inflation too. It's gonna hurt, but as it will also fix the student loan crisis, it could be overall a good thing!
      - entropicdrifter 6y ago
        Looking at the rates of deaths and infections, the worst of COVID is right now, at least in the USA. It's good that the vaccines are starting to be distributed but it was only a week ago that my state sent out an emergency text for the first time ever stating that statewide hospital capacity was 90% used up.
- jjk166 6y ago
  The stock market isn't the economy
birdsbirdsbirds 6y ago
The world is going remote, thus finally becoming the global village that the early start-ups envisioned. Why should there be a crash if huge optimization improvements are made? The only things that will tank are the airline industries and the real estate market.
- danhak 6y ago
  Optimization improvements for whom? Those who already held significant assets and highly-trained white-collar knowledge workers? Yes. Others? Not so much. Wealth inequality was a serious issue before the pandemic and this so-called "K-Shaped Recovery" has dramatically accelerated the trend. We're in for some turbulent times ahead... “The future is already here – it's just not evenly distributed."
  - birdsbirdsbirds 6y ago
    Production is limited by energy supply. Once renewable energies have reached the point where carbon hydrates have to be dumped onto the market to make any profit at all, there will be an abundance of energy. At that moment, unless enough AI is built, workers will become the scarce resource.
- poulsbohemian 6y ago
  >and the real estate market. I'm not sure this will even be the case, depending on your perspective. Yes, we appear to be seeing a correction in commercial class A office space in major metros - but I'd argue that was a long time coming regardless. We may see a correction in residential real estate in those same major metros, but out here in rural America we're seeing an influx of people looking for better value than they were getting in coastal cities and it's driving our markets upward.

bigbubba 6y ago

It won't be that until I'm allowed to keep my shoes on and bring a liter bottle of seltzer water with me when I fly.

koolba 6y ago
I bet they’ll let you bring it if you tell them it’s hand sanitizer. Which is hilarious as the latter combined with a lighter could be a potent improvised weapon.
- evilduck 6y ago
  They already let us fly with numerous lithium fire hazards per person. All you need is something like a metal barreled ink pen to pierce the battery pack. Heck, what protection is there from me getting some volume of mercury on board? A pressurized aluminum airframe would not take kindly to spilling any amount of that.
  - na85 6y ago
    Destroying the aircraft in mid air isn't really the threat any more, though. The threat is using the airplane and its occupants as unwilling kamikaze weapons as in 9/11, and with the armored doors on the flight deck now it's unlikely the aircrew will allow the aircraft to be hijacked no matter what you bring on board. There's a reason the flight attendants stand in front of the door when the pilots have to use the washroom; it's so that you have to kill or incapacitate them first which buys the pilot(s) time to close and secure the armored door.
    - bigbubba 6y ago
      Shoes are obstensibly removed to prevent the destruction of planes, not their hijacking. The problem of planes being hijacked was solved around 10am on 2001/9/11, before the government got involved. And if passengers fighting back isn't enough, locked cabin doors should be. Incidentally, passengers kicked the shit out of the would-be shoe bomber too.

justinzollars 6y ago

I'd love for 9/11 era to end. It was so easy to bank before know-your-customer. We not only lost all personal freedom, we lost all of our financial freedom