Credit deflation and the reflation cycle to come (part 2)

[ThoughtCriminal]

4 hours ago, Yadda yadda yadda said:

This doesn't seem as daft as it sounds. It is just a modern version of the limited edition album with extra artwork and bonus tracks. Lots of people don't own music now, they stream it. If you pay for a download it is tied to your account. You don't really own it. This you do. You can sell it, which you can't do with other downloads.

Of course it will probably be very expensive. It looks like there is some sort of clawback where at least some of the resale profit goes back to the band. Then there is the huge use of electricity to run the Blockchain if this becomes big. Just buy more energy companies.

It isn't for me and there are dotcom vibes about lots of things at the moment 

I have to (amicably) strongly disagree. 

 

Its tells me that theres so much capital out there that misallocagion doesn't even do justice to describing what's happening. 

 

This is emperors new clothes on steroids. 

 

But if you're waving a 10 million quid NFT in my face in a few years time I'll just shut the fuck up and eat my humble pie. 😉

[Yadda yadda yadda]

10 minutes ago, ThoughtCriminal said:

I have to (amicably) strongly disagree. 

 

Its tells me that theres so much capital out there that misallocagion doesn't even do justice to describing what's happening. 

 

This is emperors new clothes on steroids. 

 

But if you're waving a 10 million quid NFT in my face in a few years time I'll just shut the fuck up and eat my humble pie. 😉

I'm talking about the music stuff. The idea that you can buy an album digitally for £10 that you actually own. Would work for films too, you pay your money and you own it without it being attached to an Amazon or Apple account. If you're going to want to watch it multiple times. A premium album with extras such as concert tickets is not for me but there is value. Debentures at the Albert Hall and Wimbledon could be traded this way too.

£10m for a digital artwork does seem daft. What does it matter if it is the original or not?

PS misallocagion is a great new word. The epidemic of misallocation of capital.

[Talking Monkey]

46 minutes ago, Vendetta said:

The NASDAQ TESLA bubble burst on 12th February at 14095 pts..... IMHO.

I am so tempted to go x3 leveraged short - I reckon it will go sub 9000 pts by end of year and Tesla sub $400 soon.

I think it will be sub 9000 by year end but in the mean time with the economies opening up and stimulus cheques hitting it could have a bump up, especially if the whole call buying idiocy cranks up again by the youths. 

[Barnsey]

3 hours ago, planit said:

There is no reason why running the blockchain and 'signing' the transactions should use huge amounts of energy.

Mining on the other hand is a complete waste of resources and should/could be banned if we are in a 'climate crisis'

 

Blockchain is a way of doing things like posting an invoice.

Bitcoin will become worthless if a better option comes for storing value, like emailing invoices instead of posting. Who posts invoices any more.

There is no way I would use Bitcoin to store value if there was another 'Bitcoin' that was backed by a basket of  investments or commodities that was publicly available to view and scrutinise.

So one way of governments to put an end to Bitcoin is to offer a better alternative (which they obviously won't do, they will act like a spoilt kid losing a board game and just pick up the whole game and throw it in the bin).

 

Sorry, I will give myself 50 lashes for derailing the thread with Shitcoin talk. Please do not reply, I am meant to be revising 

Just one take:

 

[Barnsey]

10 minutes ago, Yadda yadda yadda said:

£10m for a digital artwork does seem daft. What does it matter if it is the original or not?

PS misallocagion is a great new word. The epidemic of misallocation of capital.

Bingo! It's already in an easily replicable format.

[Bricks & Mortar]

1 hour ago, Harley said:

Funny you should mention that.  I've been looking at plant as an inflation hedge or as a way of moving cash to assets.  Bob Cat or telehandler.  Maybe a compact tractor.  Short of storage space though. 

I'm short on space too.  Got a lot of gear I could be selling to make room, (kwikstage scaffold, cement mixers, generators).
But, I'll get better prices for them in several years.  So, I'm not buying big stuff right now, just stocking up on the little things.  Thinking about half a tonne or so of assorted galv nails next.

 

[feed]

6 minutes ago, Barnsey said:

Bingo! It's already in an easily replicable format.

So is any work of art that’s ever been scanned.  

People are focusing on the exceptionally high value items, which is going to be a tiny part of the market.  You only need to go to twitch to see how much is spent on digital products.  NFT seems a logical next step in ownership of them.  
 

[Loki]

22 minutes ago, Talking Monkey said:

I think it will be sub 9000 by year end but in the mean time with the economies opening up and stimulus cheques hitting it could have a bump up, especially if the whole call buying idiocy cranks up again by the youths. 

More stimmy cheques soon

[Shamone]

5 hours ago, Vendetta said:

Shoe shine moment. 

A “non fungible token” 

For the love of god..... Jesus wept.....

Fucking state of it.

[Hancock]

2 hours ago, BearingUp said:

Re the move north from south, we did it 20 years ago and have never regretted it. First 2 years were in Durham, which is superb, but a bit pricey compared to the likes of Darlo. I was self employed with most of my contracts still ‘darn sarth’, but dead easy to get to London in under 3 hours on the ECML. 
 
We live in Yorkshire now where there are loads of great, well priced communities, although parts of as the Golden Triangle based around Otley, North Leeds and Harrogate can be a bit pricey and a bit too posh for my liking.

Tough call to move to an area away from family and friends, but you may find the genuine friendliness of your new community can more than compensate. I believe we have a gradient of friendliness running through the county with the NE at a 10, Yorkshire a 7 and London and the SE pretty close to zero.

Only decent places in the north of England are places like Whitley Bar and the better parts near Newcastle and York. There is a dislike of southerners in NE England this has to be taken into account. (im from there so i know)

If i could choose to live anywhere in England with not having to worry about making big bucks from a job; i'd be like the Pet Shop Boys and "Go West" to Cornwall. 

[DurhamBorn]

5 minutes ago, Cattle Prod said:

😅 not all southeners are fairies! 

ha i didnt mean it like that,i meant not knowing anyone etc.Those old pit villages you need to know whos who etc and people from down south will likely know nobody.Its not as bad as it was though as most of them tend to have transient populations now,but id still avoid them as they will be last to get any investment.

[Bricormortis]

4 minutes ago, Hancock said:

Only decent places in the north of England are places like Whitley Bar and the better parts near Newcastle and York. There is a dislike of southerners in NE England this has to be taken into account. (im from there so i know)

If i could choose to live anywhere in England with not having to worry about making big bucks from a job; i'd be like the Pet Shop Boys and "Go West" to Cornwall. 

Cornwall = high house prices, unemployment,  lowest wages in England, poor infrastructure,  wetter than you think, but nice people though ( mostly ), also if you like surfing its useful. 

[Hancock]

16 minutes ago, Cattle Prod said:

Nice illustration of what's happened, and what's coming. 

"I have to be honest here, we're going to be sneaky as f'k". 

Workers pay more tax, so the govt can give more money to asset owners. Irony being many of these higher earners will have been given their money back and some via HPI

More to it than his 2 tweets claim though.

[ThoughtCriminal]

2 hours ago, Vendetta said:

The NASDAQ TESLA bubble burst on 12th February at 14095 pts..... IMHO.

I am so tempted to go x3 leveraged short - I reckon it will go sub 9000 pts by end of year and Tesla sub $400 soon.

I just want to point out that I called tesla and it plunged a few days after. 

 

But I didn't have the balls to do anything, so like an utter fanny I now have to be the boring drunk in the pub who tells everyone what might have been 😢

 

As if there's such a thing as a fucking pub anymore............🙄

[ThoughtCriminal]

44 minutes ago, Hancock said:

Only decent places in the north of England are places like Whitley Bar and the better parts near Newcastle and York. There is a dislike of southerners in NE England this has to be taken into account. (im from there so i know)

If i could choose to live anywhere in England with not having to worry about making big bucks from a job; i'd be like the Pet Shop Boys and "Go West" to Cornwall. 

Ahem. God's own country, North Yorkshire. 

 

You can go off a fella ya know H 🙄😂

[Hancock]

3 minutes ago, ThoughtCriminal said:

Ahem. God's own country, North Yorkshire. 

 

You can go off a fella ya know H 🙄😂

I never knew you Smoggies were accepting you're Yorkshiremen. Must feel like coming out the closet to finally admit it.

[AWW]

6 minutes ago, ThoughtCriminal said:

I just want to point out that I called tesla and it plunged a few days after. 

But I didn't have the balls to do anything, so like an utter fanny

If it makes you feel any better, your post reminded me to sell the small TSLA holding I had at the time, double bagged in a couple of months. More luck than judgement, really. So, cheers, if the pubs were open, I'd get you a beer.

[ThoughtCriminal]

Just now, ThoughtCriminal said:

Ahem. God's own country, North Yorkshire. 

 

You can go off a fella ya know H 🙄😂

Nowhere has ever disappointed me as much as Devon and Cornwall. I was so filled with anticipation as EVERYONE raves about it and after touring the length and breadth of it I was just "meh". 

 

Actually, Venice disappointed me more. But that was because it stank of piss and was full of Africans trying to sell me fake Gucci. 

[ThoughtCriminal]

Just now, AWW said:

If it makes you feel any better, your post reminded me to sell the small TSLA holding I had at the time, double bagged in a couple of months. More luck than judgement, really. So, cheers, if the pubs were open, I'd get you a beer.

Well that's cheered me up, at least I saved someone else some money. 🙄

 

You utter bastard 😂

 

On a serious note, well done 👌

[ThoughtCriminal]

6 minutes ago, Hancock said:

I never knew you Smoggies were accepting you're Yorkshiremen. Must feel like coming out the closet to finally admit it.

😂

 

I've always said I'm a Yorkshireman because anyone born south of the tees historically is! Whether they like it or not. 

 

 

[Bricormortis]

I think Nasdaq has gone below its 50 day moving average. Bit bearish.

[Majorpain]

35 minutes ago, Bricormortis said:

I think Nasdaq has gone below its 50 day moving average. Bit bearish.

Powell's speech later will be interesting, more brrrrrrrr should prop the markets back up as 2016/2020, but what if it doesn't?  Is it inflation or deflation that markets are really (potentially incorrectly) worried about?

[Sugarlips]

Anyone like Sandridge energy? No debt but market not liking them today, a buy the dip opportunity?

[Noallegiance]

This NFT shit fucks me up.

So you 'own' a 'unique digital copy' of something (so it's not the actual thing unless it was originally digital) and the subsequent resale nets the originator royalties (arguably the only good part).

Fucks me up like shitcoin. A thing that isn't a thing which is a confused version of the original thing which people are flipping to the next greater fool rather than collecting it to have it the way a real, actual thing is collected.

Such consequences are digital cats selling for $100k.

Yeah there's definitely too much pretend money floating about.

And no, just because loads of people may start doing it doesn't make it a cracking idea.

I feel like the last semblance of sense is drifting out the window.

[Loki]

1 hour ago, Majorpain said:

Powell's speech later will be interesting, more brrrrrrrr should prop the markets back up as 2016/2020, but what if it doesn't?  Is it inflation or deflation that markets are really (potentially incorrectly) worried about?

The Bernanke Bears friends have some advice