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It's amazing the gymnastics people will do to shift responsibility off the supply side and onto the demand side. No, lying should not be rewarded. Ponzi schemes
by jjoonathan 4y ago
It's amazing the gymnastics people will do to shift responsibility off the supply side and onto the demand side. No, lying should not be rewarded. Ponzi schemes should not be rewarded. Currently, they are. Yes, we need more responsibility -- on the supply side.
Demand side already has responsibility and correct incentives: the fools have been parted from their money. Done.
This goes for small things, like NFT ponzis, and big things, like turning housing into an asset class.
- BobbyJo 4y agoI don't think saying people need to take responsibility for their actions removes blame from the supply side. I think the underlying point trying to be made here is that both are at fault. I mean, with crypto, you are the supply side the moment you buy in, and are just as complicit in the Ponzi scheme as the guy you bought from. Being more ignorant than the other players buys very little sympathy from me when you're both playing the same game with the same information available to you.
- wbsss4412 4y agoI was with you until the last sentence. When has housing ever not been an asset class? Real estate is and was the original asset class.