Bitcoin

dbldwn711 said:
IMO this inflation is more a product of pumping too much money into the system during Covid than was necessary. No doubt supply chain issues are preventing the easier fix to that problem but there was simply too much money put into the system. Need to “pay for that” fix the supply chain issues and see how we are gonna replace the energy Russia supplied before things get back to normal.
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I think the COVID relief argument is too simplistic. This is what I observed:

Stimulus payments to individuals - Those got burned through pretty quickly and yes it helped lower supplies but we've had over a year to replace those supplies (literally the day after the payments went out I had to go to Walmart for some stuff and every buggy had a flat screen).

PPP Corporate Loans - Those paid down debt, went to earnings, and were paid out. Sure individual business owners pocketed cash off the PPP but that isn't causing supply chain issues and it was over a year ago.

Municipalities - Who the hell knows what they have done with the money but we can assume it's gone.

Infrastructure bill - yes that is going to be an issue and will definitely affect materials, labor and inflation but how much of that is currently being put to work in the economy right now? There is a ramp up.

So how does the above affect gas?
How does it affect beef and eggs?

It comes down to shortages in labor, transportation and materials. How do we bridge this because there is pent-up demand we just have to figure out how to take the overburden off basics and increase the supply and it will be a while until demand is met. In my neighborhood, there is a 4-month backlog if you want a fence built and it cost 3 times what it did 2 years ago. I can name 6 people that want to do home expansion projects but have them on hold because it's too expensive.
 
Wild Turkey said:
I think the COVID relief argument is too simplistic. This is what I observed:

Stimulus payments to individuals - Those got burned through pretty quickly and yes it helped lower supplies but we've had over a year to replace those supplies (literally the day after the payments went out I had to go to Walmart for some stuff and every buggy had a flat screen).

PPP Corporate Loans - Those paid down debt, went to earnings, and were paid out. Sure individual business owners pocketed cash off the PPP but that isn't causing supply chain issues and it was over a year ago.

Municipalities - Who the hell knows what they have done with the money but we can assume it's gone.

Infrastructure bill - yes that is going to be an issue and will definitely affect materials, labor and inflation but how much of that is currently being put to work in the economy right now? There is a ramp up.

So how does the above affect gas?
How does it affect beef and eggs?

It comes down to shortages in labor, transportation and materials. How do we bridge this because there is pent-up demand we just have to figure out how to take the overburden off basics and increase the supply and it will be a while until demand is met. In my neighborhood, there is a 4-month backlog if you want a fence built and it cost 3 times what it did 2 years ago. I can name 6 people that want to do home expansion projects but have them on hold because it's too expensive.
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what you’re talking about is peanuts. I’m talking about the money the fed pumped into the system with its bond buying and other nonsense. How the fuck did the stock market go up when nearly the entire world was shutdown. Haha.
 
HammerDown said:
Democrats do better than expected in midterms; economy and Bitcoin plunge.
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Joe Biden GIF by Election 2020
 
Just bought Bitcoin at under $16,000.

And as a reminder, if it’s valueless, all I ask is that you send me one. Just one.
 
After taking months off, I'm buying all the Bitcoin I can get on peer-to-peer. If anyone needs help with that, I was put on to a guy in Europe who is trustworthy and you do it through an escrow service with no cost.
 
HammerDown said:
After taking months off, I'm buying all the Bitcoin I can get on peer-to-peer. If anyone needs help with that, I was put on to a guy in Europe who is trustworthy and you do it through an escrow service with no cost.
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I just got 47 at $14,500 each from a Nigerian Prince’s banker.

On my way to Walmart for some iTunes gift cards right now.
 
SlinkyRedfoot said:
I can relate to some extent.

I had a flash drive with a bunch of nude pics of girlfriends from 20+ years ago. Some GREAT content. I had it password protected and set to erase itself after five unsuccessful attempts.

After a decade plus of fidelity to Mrs Redfoot, I went to check on the flash drive.

I. Could. Not. Remember. The. Password. . .

200.gif
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Damn dude. Sorry.
 
SlinkyRedfoot said:
I can relate to some extent.

I had a flash drive with a bunch of nude pics of girlfriends from 20+ years ago. Some GREAT content. I had it password protected and set to erase itself after five unsuccessful attempts.

After a decade plus of fidelity to Mrs Redfoot, I went to check on the flash drive.

I. Could. Not. Remember. The. Password. . .

200.gif
Click to expand...

Ha. Ha.

Try: dis_is_good_pussy
 
New YorkCNN Business —

In an abrupt reversal, cryptocurrency exchange Binance pulled out of a deal to acquire its embattled rival FTX, saying the company’s problems were “beyond our control or ability to help.”

Binance, the world’s largest crypto exchange, said it reviewed FTX’s finances as part of the due diligence process, and it cited reports of “mishandled customer funds and alleged US agency investigations” in announcing the deal was off.

The reversal is the latest twist in a dramatic and fast-moving saga involving the crypto world’s most powerful players.

It also marks a stunning fall for Sam Bankman-Fried, the 30-year-old rock star of the industry who founded FTX in 2019. Bankman-Fried, known to insiders as SBF, regularly drew comparisons to investing icons like Warren Buffett and J.P. Morgan as he engineered a series of bailouts to struggling crypto firms earlier this year. He has appeared in ads alongside celebrities like Gisele Bündchen, part of a campaign to bring crypto into the mainstream.

Without a bailout, FTX is poised to collapse, along with the rest of Bankman-Fried’s vast crypto empire.

1668269756051.png

Who's gonna play him in the movie?

I got a title.

"The Bit-ter End"
 
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