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Yet people keep putting their life savings into it - and coming out significantly richer. It’s rather frustrating how well the market has been rewarding bad de

• api 5y ago
  It's all built on historically low (or even effectively negative) interest rates. We've been in a crazy low rate environment since 2008 and COVID pushed the money printing into overdrive. When inflation eventually forces interest rates to be raised a lot of these crazy bubbles are going to pop almost instantly. The alternative, a deflationary depression, would probably have been a lot more painful and destructive. Instead of mass defaults and cascades of bankruptcies we get million dollar ape doodles.
  • mandmandam 5y ago
    Mass defaults and bankruptcies and worse are still coming, I promise you. You can't funnel money upward this hard for decades and not pay a price.