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When I see things like Bitcoin price and GameStop stock I guess if we still have too much money on the economy.
by bratao 2y ago
When I see things like Bitcoin price and GameStop stock I guess if we still have too much money on the economy.
- paulpauper 2y agogme and bitcoin lower compared to 2021 highs on inflation adjusted basis
- pciexpgpu 2y agoI am sure you can make a similar argument that the chance of hitting 31 on a roulette table is ‘lower’ compared to 2021 highs or whatever imaginary gambling stat we can conjure up. These are all made up numbers so number go down or up isn’t the issue here.
- aresant 2y agoIf you look at both as marginally legalized gambling, the former (crypto) at an 8 billion player table, easier to understand than just through lens of "still too much cash" in the system
- throwaway5959 2y agoOnline sports betting as well
- FloorEgg 2y agoDespite what most media wants you to think, the recent run up of GME isn't directly related to retail investors (having too much money). The price increases have been happening mostly in pre market and in big blocks, which indicate it's hedge funds or market makers, and might have something to do with option contracts and short covering. There is a lot of money in the system but most of it is held by banks and sitting on the side lines. Just look at M1 money supply chart via st Louis fed...