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> Why did the stock market go up 20% relative to pre pandemic levels? Have another explanation? Who was buying these shit coins? These are rhetorical questions
by bevr1337 1y ago
> Why did the stock market go up 20% relative to pre pandemic levels? Have another explanation? Who was buying these shit coins?
These are rhetorical questions and frankly kind of silly. You're implying that the poorest, unemployed Americans temporarily receiving $600/wk caused the creation of shitcoins. There are so many leaps and bounds and no context. So no, I can't offer you another explanation.
- bko 1y agoSo my explanation is stock market bump and nft/meme coins coincided with checks going out and unemployment benefit bump. Also personal savings rate jumped to 30% during that time due to covid stimulus. Your retort is some moral argument about it doesn't feel right because poor people. You're not having a serious conversation so I'm going to bow out. Reconsider the facts and put your moral indignation aside https://fred.stlouisfed.org/data/PSAVERT https://fred.stlouisfed.org/data/PSAVERT
- twochillin 1y agoThe stock market increase and crypto spike all happened a long time before any sort of pandemic-related stimulus took effect