Quote from: wxa7115 on July 20, 2020, 04:00:16 PM

Quote from: aesma on July 20, 2020, 12:44:15 AM

Quote from: Biodom on July 19, 2020, 07:54:04 PM

I agree that this is probable, but the question arises..when will it stop? Never? Are we at a verge of basic income and MMT?
Too much resistance to those ideas, so it is unlikely to happen. However, passing every 6 mo a 2-3 trillion bill does not seem likely either.
At the moment, it is clearly gold and high beta stocks that benefit the most. Bitcoin is not in play and I wonder why. maybe because it was in a deep correction for too long and lost its appeal with the fast money. It could be temporary, though. At least, this is my hope, but the whole apple-cart is upside down.

If the trend described below is true, then we would have a deflationary impulse as well:
https://www.politico.com/news/2020/07/19/wage-cuts-economy-crisis-368508

Basically stock market speculators (in the US) have a free ride. The market goes up they win, the market goes down the Fed and congress put more money into it so it goes up again. They can't lose. With BTC, you can lose.

That is until they don’t, it is true that what you describe has been the norm during the last decades but at some point it will be impossible to maintain the system as it is and even those that believed they could privatize profits and socialize losses will find out this cannot last forever.

I really think the current pandemic has accelerated this process and while I don't wish to see such a huge crisis in my lifetime I’m convinced this is inevitable and taking precautions for that day is the only thing I can do, and as you may guess holding some bitcoin is part of my preparations, and while some may complain about the sideways movement of bitcoin this is great for anyone looking to increase their stash.

I think it can still last a long time but we'll see, look at the EU, it will borrow money to spend it on "stuff" for the first time, certainly not the last.

It doesn't hurt to be prepared, I'm looking at houses with large plots of arable land to make some fruits and vegs, and allow for more production if needed (cereals, poultry, rabbits...). Having useful skills and train for new ones, too.

I can feel some sympathy and even agree with some people that think the current system is unjust, but if they're not doing something about it, or to at least improve their own situation, that sympathy only goes so far. Whining is not a plan.