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That isn't what is happening, and it says right in the article that this is a commodities boom. Those are absolutely cyclical and act as a brake on the economy
by lamontcg 6y ago
That isn't what is happening, and it says right in the article that this is a commodities boom. Those are absolutely cyclical and act as a brake on the economy similar to rising interest rates. They don't runaway.
I swear everyone has turned into a 2003-era Gold Bug blogger and sees Zimbabwe everywhere.
Eventually the average person and the average business gets overleveraged and spending contracts, then the bubble pops and deflation rips through the economy again. What we're seeing here is a lot of pent up demand due to the pandemic being unleashed. This is not runaway hyperinflation.
And eventually bitcoin is going to pop and Millennials that have been using a basketfull of cryptocurrencies as their retirement 401(k) are going to be desperate for cash.