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sdholloway56
Senior Advisor

Crypto market

total market cap down 47% in 7 days.

A very good thing- apparently not enough to cause more than a sneeze or two in real markets.

Just don’t walk under the windows of tall buildings in hipster neighborhoods.

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15 Replies
sdholloway56
Senior Advisor

Re: Crypto market

I’ve never viewed the crypto mania as something likely to present systemic risk. Hopefully I was right- that’s looking to be the case.

But it might mark the beginning of the end for the “throw money at everything” phase.

BTW, my prediction for the SP 500 for the next decade is flat.

But “goes nowhere in an interesting way” like 2000-13.

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BA Deere
Honored Advisor

Re: Crypto market

I file all the cryptos under "If you don`t spot the mark at the poker table, then you`re it".  

sdholloway56
Senior Advisor

Re: Crypto market

Actually the true believers are 200% into the same libertarian derponomics that you guys espouse.

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erikjohnson61y
Veteran Advisor

Re: Crypto market

Small government is "derponomics"??

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sdholloway56
Senior Advisor

Re: Crypto market

No.

In the way it is framed by the Koch network et al, it is fascism.

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timetippingpt
Honored Advisor

Re: Crypto market

That's rich coming from the side of the isle that limits speech at every turn. Keep it up, you will get what you are longing for...............I still call my wife "mother", she is not a "infant birthing person". I will do so until I die, at your hands, or at God's appointed time.

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sdholloway56
Senior Advisor

Re: Crypto market

"Those who yearn for the end of capitalism should pray for government by men who believe that all positive action is inimical to what they thoughtfully call the fundamental principles of free enterprise."

J. K. Galbreath

 

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sdholloway56
Senior Advisor

There are a zillion great Galbreath quotes

here's another one.

"The modern conservative is engaged in one of man's oldest exercises in moral philosophy; that is, the search for a superior moral justification for selfishness."

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sdholloway56
Senior Advisor

Re: There are a zillion great Galbreath quotes

My favorite

"People of privilege will always risk their complete destruction rather than surrender any material part of their advantage. Intellectual myopia, often called stupidity, is no doubt a reason. But the privileged also feel that their privileges, however egregious they may seem to others, are a solemn, basic, God-given right. The sensitivity of the poor to injustice is a trivial thing compared with that of the rich."

The problem is, of course, that there aren't nearly enough truly privileged people, which is where the fascism part enters the picture. You have to convince a big enough voting bloc that they, too, are Victims.

I actually began some while back trying to gently suggest that "agriculture" might be risking it's own destruction by going all in. But there is no saving a man riding a wild horse. It will just have to play out.

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