5 ms·

If this isn't a sign of a super-frothy market top, I don't know what is. There's too much capital chasing too few investment opportunities.

fnord77 6y ago
it's weird - collectible markets in everything are getting bubbly. some things even mass produced pocket knives that got discontinued a few years ago are going for exorbitant prices. it's like the internet/social media is creating some mass hysteria FOMO in everything.
- deleted 6y ago
  [deleted]
- dawnerd 6y ago
  People were flipping cotton candy grapes. It's insane.
  - kenjackson 6y ago
    Man, I’ve been trying to get these for a couple of years!
    - renewiltord 6y ago
      Is this a joke I'm not getting? They're available at Safeways.
      - kenjackson 6y ago
        Not here in Seattle.
      - dawnerd 6y ago
        No legit, unless you live near the farms, these things sell out first thing in the morning when the stores open. I was seeing them show up on FB marketplace later that day.
- jasonwatkinspdx 6y ago
  Well, with cards in particular there was a big fad that went through the largest streamers a couple months ago. They discovered that opening $40k Pokemon boxes hoping for holos was an easy way to get massive views. Then that morphed into edge lord / troll style content of destroying super rare cards. That second part leaves a dirty taste in my mouth as these are insanely wealthy 20 something kids essentially bragging about how they can flippantly destroy something other enthusiasts would be thrilled to even just see at a convention, let alone own.
- pjc50 6y ago
  I wonder if anyone saved their Beanie Baby collection from the last crash.
  - dQw4w9WgXcQ 6y ago
    A good point, I should really dig those out with their clear tag protectors and everything. Are eBay sales on fire again?
anm89 6y ago
Markets are obviously insane right now but that doesn't mean that the people in the market are irrational. This bubble is going to pop with a devaluation of the dollar or a devaluation of everything else. But just because we are in a speculative mania does not mean that the price of assets is going to go down moving forward denominated in dollars. It is very possible the people shoving their money into baseball cards look like geniuses 5 years from now if the alternative was holding cash or having zero diversification.
- arcticbull 6y ago
  > This bubble is going to pop with a devaluation of the dollar or a devaluation of everything else. I'm not sure where you get the idea that the dollar is suddenly going to lose a ton of value. People have been calling for this since the beginning of time, just like the people who keep trying to short the S&P 500. It's not gonna happen, certainly not any time soon. If it did, however, assets would moon as literally anything other than cash is inflation-proof. Moon in units, but remain likely quite constant in value.
  - Workaccount2 6y ago
    You might find this interesting https://inflationchart.com/spx-in-m1 https://inflationchart.com/spx-in-m1 It basically shows the value of the S&P 500 as a function of total cash in the system.
  - anm89 6y ago
    If you look at a graph of either our money supply or spending it is pretty clear that we are in uncharted territory in terms of money supply expansion. They are basically hockey sticking. So don't make it out to be some kind of fringe hypothesis to expect inflation. It's the base case at this point. For the record I'm specifically not arguing we will have hyperinflation. I don't think we will. We don't even need to get within 1/10th of hyperinflation to inflate away our current stock market bubble or even the crypto bubble.
    - arcticbull 6y ago
hristov 6y ago
It may also be a sign of people stuck at home going through their stuff and trying to find things to do with their time. It may be a sign of baseball fans not being able to go to games (or being scared of it, if they are able) spending their game ticket money on other fun baseball related activities.
Animats 6y ago
Yes. So much money going into this crap, while actually making real stuff is in decline in the US. Someone mentioned "The Days of Perky Pat", by Phillip K. Dick, mostly known for "Blade Runner". I found and read that. It's relevant.
- deleted 6y ago
  [deleted]

fnord77 6y ago

it's weird - collectible markets in everything are getting bubbly. some things even mass produced pocket knives that got discontinued a few years ago are going for exorbitant prices. it's like the internet/social media is creating some mass hysteria FOMO in everything.

deleted 6y ago
[deleted]
dawnerd 6y ago
People were flipping cotton candy grapes. It's insane.
- kenjackson 6y ago
  Man, I’ve been trying to get these for a couple of years!
  - renewiltord 6y ago
    Is this a joke I'm not getting? They're available at Safeways.
    - kenjackson 6y ago
      Not here in Seattle.
    - dawnerd 6y ago
      No legit, unless you live near the farms, these things sell out first thing in the morning when the stores open. I was seeing them show up on FB marketplace later that day.
jasonwatkinspdx 6y ago
Well, with cards in particular there was a big fad that went through the largest streamers a couple months ago. They discovered that opening $40k Pokemon boxes hoping for holos was an easy way to get massive views. Then that morphed into edge lord / troll style content of destroying super rare cards. That second part leaves a dirty taste in my mouth as these are insanely wealthy 20 something kids essentially bragging about how they can flippantly destroy something other enthusiasts would be thrilled to even just see at a convention, let alone own.
pjc50 6y ago
I wonder if anyone saved their Beanie Baby collection from the last crash.
- dQw4w9WgXcQ 6y ago
  A good point, I should really dig those out with their clear tag protectors and everything. Are eBay sales on fire again?

anm89 6y ago

Markets are obviously insane right now but that doesn't mean that the people in the market are irrational. This bubble is going to pop with a devaluation of the dollar or a devaluation of everything else. But just because we are in a speculative mania does not mean that the price of assets is going to go down moving forward denominated in dollars. It is very possible the people shoving their money into baseball cards look like geniuses 5 years from now if the alternative was holding cash or having zero diversification.

arcticbull 6y ago
> This bubble is going to pop with a devaluation of the dollar or a devaluation of everything else. I'm not sure where you get the idea that the dollar is suddenly going to lose a ton of value. People have been calling for this since the beginning of time, just like the people who keep trying to short the S&P 500. It's not gonna happen, certainly not any time soon. If it did, however, assets would moon as literally anything other than cash is inflation-proof. Moon in units, but remain likely quite constant in value.
- Workaccount2 6y ago
  You might find this interesting https://inflationchart.com/spx-in-m1 https://inflationchart.com/spx-in-m1 It basically shows the value of the S&P 500 as a function of total cash in the system.
- anm89 6y ago
  If you look at a graph of either our money supply or spending it is pretty clear that we are in uncharted territory in terms of money supply expansion. They are basically hockey sticking. So don't make it out to be some kind of fringe hypothesis to expect inflation. It's the base case at this point. For the record I'm specifically not arguing we will have hyperinflation. I don't think we will. We don't even need to get within 1/10th of hyperinflation to inflate away our current stock market bubble or even the crypto bubble.
  - arcticbull 6y ago

hristov 6y ago

It may also be a sign of people stuck at home going through their stuff and trying to find things to do with their time. It may be a sign of baseball fans not being able to go to games (or being scared of it, if they are able) spending their game ticket money on other fun baseball related activities.

Animats 6y ago

Yes. So much money going into this crap, while actually making real stuff is in decline in the US. Someone mentioned "The Days of Perky Pat", by Phillip K. Dick, mostly known for "Blade Runner". I found and read that. It's relevant.

deleted 6y ago
[deleted]