The "Debt Spiral" End Game | James Lavish
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- Опубліковано 23 лип 2024
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On today’s episode, James Lavish Managing Partner at The Bitcoin Opportunity Fund joins the show to discuss his debt spiral thesis.
With a "tsunami of debt" on the horizon, James walks through the end game for the unsustainable U.S fiscal path. We discuss the odds of recession in 2024, how to repair the debt problem & which assets will thrive in this environment. To hear all this & more, you'll have to tune in!
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Referenced In The Show:
Bitcoin Opportunity Fund: www.bitcoinopportunity.fund/
The Informationist: www.jameslavish.com/
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00:00 Introduction
00:46 A Recession Is Coming
06:07 DAS London Plug
07:25 There's A "Tsunami Of Debt" On The Horizon
12:17 The Debt Problem
26:03 Blockworks Research Ad
26:50 The Debt Spiral
33:36 The Debt Spiral End Game
39:06 Bitcoin
49:16 The Bitcoin Opportunity Fund
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Disclaimer: Nothing discussed on On The Margin should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets. - Розваги
The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
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Im DCAing in AQ384J as well. ETH heavier DCA and ALGO. Im taking your advice and starting Google tomorrow with a 50 dollar purchase and continuing Microsoft and Apple. VTI and VOO on another app and longterm portfolio. Here we go family!
Scam
Family
Love the AQ384J content. I think this project is just as essential as HBAR and they both will be great movers
Scam
the host, Mike, is just wrong on the inflation hurting the middle/poor less than the wealthy. if one had wealth and can get assets the assets rise with the inflation so if you have 100m bet worth and you have 90m worth of assets then you're doing very well as assets rise. but for the middle and mostly poor you have let's say 100k networth. you have 10k of assets on which the appreciation is net enough to even hedge out energy cost while you're nominal earnings raises let's say 6% and inflation is 10+ so you're real earnings is -4% or more so just no. I know he said he got it from Lyn Alden who's great but it's just flat wrong. not even debatable.
Yeah,.. he's pretty much an all around cluelessidiot.
The poor don't have much fixed (3% 30 year) debt to inflate away.
What expenses and debt they have include; rent, groceries, car payments, car insurance, gas,. electric bills, credit card or payday loan debt at a variable 20 to 30%.
All sensitive to inflation.
Wages have absolutely NOT kept up with the 20 to 50% inflation accumulated since senile ole joe took over,.
The recent union settlements are a small part of the work force,.. and even those won't keep up with the inflation we've had and still to come,.. as a result of the insane deficits and criminal fiscal policy and abuse of this insane administration,
Agreed. Totally bizarre statement
The Cantillon effect destroys the poor
Bitcoin is not going to be banned. As James said, it’s far too late for that. If it becomes an increasingly strong (price terms) asset, it may receive an adverse tax treatment, compared to legacy assets, especially for direct holders vs. ETF investors, enabling “the Wall Street Cronies to control more of the total supply, decreasing individual sovereignty. The rationale being the Goobermint NEEDS tax revenues, and to prevent escapees from expatriating.
I couldn’t believe how far off he and Lynn are about low income families. Kind of opened my eyes a bit.
Not only do I not lose money when the market declines, but I also don't get overly thrilled on days like today. For over a decade, I plan to invest in my friends and won't be selling or touching the money I've put in. To diversify, where should I put in an additional $100,000?
Many people minimize the importance of counsel until their own feelings become overwhelming. I hired a real market strategist to assist revitalize my $700k portfolio and increase performance and returns by 90% in just over four years since I needed a substantial push to keep afloat.
I think James did a great job toeing the line between telling you and Lynn you’re wrong, but also being polite because he’s on your show.
Completely gold interview. Thank you Blockworks and James for the great answers and questions 🌳🌳
James is a legend. I agree with everything he says too, so I'm grateful for that.
Thanks gents.
James Lavish is one of the best out there, and Michael is too.....what a pairing.
Mike I appreciate ya pushing back at the end there. It helps to keep blockworks as a media company not some weird echo chamber where people are uncomfortable just sharing a different opinion or a new idea. Even the bankless guys go in different directions to explore new ideas. It's just bewildering to me to hear somebody say "we had the Internet, we're going to have ai, and we're going to have the Bitcoin industry" with no regard for anything else in the space. As if all of that just doesn't exist. I get it, he has a very strong bias, but it's just dishonest in some way. Eth people for example acknowledge the entire ecosystem of players even if it's uncomfortable. I guess I'm just writing to say I appreciate u noticing ur bias and making a decision to at least try to keep blockworks slightly more neutral. Tbh the space is incredibly competitive so none of this is a surprise (unless people are creating magical ideas in their head) so I think it's more important to be ruthless in our thinking and discourse rather than childish and immature. Maybe at the end of the day, a diversified portfolio really is the only way for us to align our hunger for profit and or wealth preservation with the technical reality despite how painful that is. Thanks again, I've learned a metric crap ton from ur company the past 2 years and will continue to listen and share the word. Ultimately this space will grow multiples so it won't matter how maxi an individual is, everybody's portfolios will just grow.
Thanks guys!!
Home prices “higher for longer”….
where is my UBI and stimmy?
Hes so happy about the Recession coming in, like hes super excited to be witnessing it.
Great video as always. I notice that you display the AQ384J ! I just got some too!
Excellent guest!
The last time I checked, bitcoin's value is expressed in dollars. They are IOUs for dollars. If the dollar collapses and loses, say, 50% of its value vs gold... or the government closes the on/off ramp to the banking system...
> 50% of eth held by top 100 addresses
Yep, certainly decentralized 🙄
Excellent.. ❤
AQ384J gang in the house! Thanks for the analysis!
IMO low income earners were the more buoyant class regarding inflation during recent years because of two factors: 1) Most Governmental entitlements, including pandemic relief and tax cuts were targeted to this low income group (see EITC and child tax credit for example) 2) Most low income earners have needed to work multiple jobs just to cover cost of living essentials (food, rent, utilities, gas) and have altogether canceled or stopped paying on any other services or goods (insurance, loans, etc.)
I have not heard any discussion of debt jubilee. Is this scenario off the table for discussion?
Great video. Im a huge AQ384J fan and love your videos on it.
Scam
Mike, here's a little challenge: go to flea markets, small town diners, the highways and byways of Middle America and talk to those working and middle class Americans. They are NOT benefiting from "higher" wages. The wage rise ( if it exists ) doesn't keep up with price increases in goods. The rate of inflation may go down, but the elevated prices remain. You will meet hopelessness, bitterness, and distrust of all those individuals and institutions who tell them how good they're doing, when their own experience is vastly different. This is not socially and politically sustainable. OH and it's not like the 70s. I was there. Cheers.
Now we just need to see the AQ384J price also move in the same direction as these charts. Up. Very Up.
On AQ384J Go long when the sell pressure reduce. As short on the opposite.
I’m still interested in what Amazon will do with the AQ384J now .
25:13 🎉 Future Argentina mode.
Do what government does. They borrow - you borrow. You want to be on the “right” side.
Super cool video ! Do you think amazons AQ384J will pump before ETH ? I ask myself if there is a pattern in the order of the altcoins pumps.
When it comes to inflation, on a personal level, nobody likes it regardless of their position. Consequently, regarding government action against bitcoin, Andreas Antonopoulos’ principle rule applies, “crooks need lifeboats too”
The US has become self-sufficient in oil and has massively outperformed technologically. What it hasn't done is tax the rich. That's good, but eventually, the roads, schools, and other public infrastructure will degrade. You need a little balance
Not taxing the rich is good lol ..... Massive cope.
The main reasons the USA has done well is the reserve currency mechanism taking about 1 trillion dollars of free labour off the backs of other countries every year coupled with unfettered skilled immigration due to this imbalance
Part of a very important coin been talked about in the BCL
Great show and guest. I really like the hosts perspective that inflation is way more harmful for creditors (rich people) than debtors (poorer people). Take it from the man.
Yeah,.. well you can like it all you want,.. but the host is pretty much an all around cluelessidiot.
The poor don't have much fixed (3% 30 year) debt to inflate away.
What expenses and debt they have include; rent, groceries, car payments, car insurance, gas,. electric bills, credit card or payday loan debt at a variable 20 to 30%.
All sensitive to inflation.
Wages have absolutely NOT kept up with the 20 to 50% inflation accumulated since senile ole joe took over,.
The recent union settlements are a small part of the work force,.. and even those won't keep up with the inflation we've had and still to come,.. as a result of the insane deficits and criminal fiscal policy and abuse of this insane administration,
I am seeing AQ384J everywhere can you make a video for these ico projects especially AQ384J .
You are one of the most sophisticated and brilliant UA-camr/content creator I watch, and 1million percent the very best in finance. I appreciate all of your content thank you for AQ384J much love from Chicago
The are we in a recession or not in a recession is ridiculous in my opinion. We already are in recession,it just depends on which metrics you’re looking at, take a look around the streets, ask people how they’re doing, check the layoff statistics
Wow, the number of scam posts lately is nuts! I really hope people are smart enough to steer clear of these bogus shit-coins being pumped .
I made so much money shorting Bitcoin, bring it on !
Low income earners doing the best in real terms is so wrong because their basket of goods inflated disproportionately larger relative to the index the government tells you your money gets spent on. Theirs was disproportionately concentrated in the highest inflating goods and services that were all greater than the cpi as reported by the government.
Smartest campaign ever is that AQ384J.
The government will definitely tax bitcoin is case that wasn’t already glaringly obvious!
Buy the Dip! Sell the Rip! My philosophy anyway 😎
Who’s Michael? That’s James.
Cant deny the fact that Amazons AQ384J is the strongest bet to bring power back to this industry after we suffered FTX, Celsius, Tera and so on. Sure if they fail its done for good, but I dont see that the biggest tech company in the world would put ev
What is this Amazons AQ384J thing, a new way to take a crap ?
Tell us how you what you would do to reduce but not eliminate the deficit. Just asking.
You wouldn't you would balance the US budget and things would be more or less fine.
James seems like a really sharp guy except for 2 things-
1. He, like most macro-pundits, haven't delved into the government's budget's since 2019 to see where the money is going.
They just take the government's word for it that the only way to balance the budget is austerity which "no one is going to vote for".
Most of the spending since senile ole joe took office was just the continuation of the covid spending.
This insane senile ole joe admin and the demcorats have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,...
and we're not even in a recession.
Much of this is fraud and liberal pork,.. blatant stealing from tax payers to buy demcorat votes. Like the attempted college debt forgiveness insanity.
When Trump left office, the economy was growing at 6% with under 2% inflation. Stimulus wasn't needed.
You can't do it all in one year,.. but theoretically,.. if we returned spending to 2019 levels, and we had current tax receipts, the budget would be balanced.
2. He apparently thinks bitcoin is an investment,.. even worse,.. a good one.
Mike on the other hand is just always a complete prat. "I would love for you to talk about and un pack in a sort of goof type way"
Let me help you fools out who are "so bullish on bitcoin,. you're almost bearish". Gawd whatadope..
Bitcoin is fools gold.
No it's worse,.. it's fool's electrons.
It has no intrinsic value.
It pays no interest or dividends.
It's not a hedge against inflation. In 2022 bitcoin fell $40,000 against the dollar. It's still worth $25,000 less than the dollar.
It's not a hedge against geopolitical flare ups,.. just see how the dollar, gold and bitcoin responded when hamas attacked Israel.
It's volatile, so useless as a currency,
It's not a store of value anymore than air is,.. It's electrons.
Adding bitcoin ETF's don't make it more valuable,.. anymore than adding more dollars makes the dollar more valuable.
Now with all of the Tulip Bulb hype about bitcoin ETF's, it might pop,.. but in the end, like the insanity of deficit spending, it will go to where it belongs,.. zero.
Theres a huge lag before wages ever go up, in case you haven’t noticed!
Raising taxes doesn't disincentive r&d, it incentivizes it because you can expense r&d and count it as lost profit...
...says the guy who clearly knows nothing about accounting nor the tax code.
i tend to agree 😸
A minute of silence for AQ384J, as history is being written!
OMG AQ384J !!! Dude seriously what a awesome video can appreciate how much work went into this quality quality quality much love from Australia
What side are you on as AQ384J divides the wealthy from the poor?
39:47 Dialectic Materialism
The can will be kick still how by them charging the can
Everyone talking about the AQ384J launch best news this year.
I agree with another commenter about Mike's understanding of inflation to be out of touch. The nature of his befuddlement seems genuine, but his responses reflect a certain naiveté that is common in financial media. When discussing inflation and inequality, why only look at the past couple years of data? Why not consider the entire time series, which allows us to see that the process of increasing wealth inequality really took off beginning in the 1970's, indicating structural change(s) of some sort? Surely the longer term trend gives important contextual meaning to prior 3 years' data? Most of us have been working longer than three years, so why only look at this short period of earnings? This tendency to solely focus on quick stats and short-term comparisons of imperfect inflation measures ignores the context of reality, which is not ever captured in enough detail by these large aggregate measures, and fundamental causes of rising wealth inequality, like the misapplication of monetary policy over the ZIRP period, overfinancialization of the economy at the expense of real productivity, and the general thievery which occurs at any institution supplied federal funding (our tax dollars), which can go unnoticed only due to our reserve currency status. It also ignores the fact that price inflation at the rates we have seen, in things as vital to overall economic well being and viability of growth/spending such as health care, higher education, and housing, have far outpaced real wage growth over the past couple decades. So when Mike says that inflationary environments benefit debtors, all that amounts to is an observation about a single feature of the inflationary mechanism, nothing more than a mathematical statement devoid of real world context and application. Sure, you could say that someone in the middle or working class "benefits" slightly by paying fixed nominal debts in an inflationary world, but uh hello? Did it always require decades of loan repayments to go to college, or to recover from a medical bill? A guy was telling me the other day he would work at the hot dog stand over a summer and have enough for a year of undergrad tuition. With the massive inflation of higher education, and especially of real estate, our system imposes higher costs and barriers to entry for people to get advanced degrees, clearly a retarding force on economic productivity. The enormous indebtedness of the American society and economy as a whole, alongside numerous other ills such as the pharmaceutical monopoly pricing and the predatory nature of our corporations, chief among them the financial industry, have made it such that we're just enriching the creditors through interest payments at the cost of investment into the real economy! And this repeats itself in the fiscal realm as well, as a sovereign we are spending more and more on interest payments of our accelerating pile of debt, than we are supporting and empowering our own citizens! At a certain point, money and debt become little else than abstractions which dictate how people use their time, and whose time is worth what--a social coordination mechanism. Once you view money as a mechanism which coordinates social behavior, an imperfect technology humans have transplanted onto real life, and throw away this ridiculous notion of there being fixed, universal economic rules and outcomes (other than the fundamental ones) which we've somehow derived through abstraction and logic, equally applicable in any society's economy, it becomes a lot easier to see, for example, that inflation has not been better endured by the working and lower classes. Large parts of the middle class are beginning to fall prey to it too, and it seems with every new crisis, the American dream approaches an American nightmare. But at the same time, it becomes crystal clear that the rules of the game are not bound by anything more than the degree of enlightenment in our politics. If you can figure out the political economy, you can create an efficient overall system. Barring that, all we're doing is accepting our current reality, which is an economy and political culture of taking more of the pie lest someone else take it before you, instead of simply growing the pie. Systemic issues require systemic solutions, and if that system is the economy, which of course just means our society, then those solutions are only attainable through the political process.
The debt spiral ‚end game‘ certainly will come some day, but this day is years away from now. Gov and FED haven’t even played half of the tricks at their hand. The most effective trick will be to allow inflation stay at around 8 % for the next decade at the end of this period gov debt will become devalued by around 90 %. A more simplistic trick will be to revalue the official Gold reserves much higher, and it even wouldn’t matter, if these Gold reserves actually exist in the stated amount. Quite the same trick, but less tricky, would or rather will be the FED simply write off (book out) a sufficiently large amount of treasuries and these are just the most apparent tricks they have at hand.
Of course each of these actions will have consequences, but these consequences would become apparent and hurting … later
Good luck selling your debt with 8% inflation without compensation in the form of higher yield to the open market... yesterday a auction of american state bonds only sold 30% of what was up for sale, the rest remained unsold
@@washemoamadah4706 did you ever hear of a country called Japan? A bank called BoJ and a monetary politic called yield curve control? If not, inform yourself! If yes, you should know the answer to your objection to my comment. And again: I don’t say such a politic would work for ever, but it will work for a much longer time than you and others like you can imagine
Never would have imagined that my AQ384J bag would be as big as my quant bag and bigger than my hbar bag but here we are.
The FED has been monetizing US Gov overspending for 20 years. Crony monetization
Pretty weak on why the US is different than Japan.
I agree...nothing insightful here...move on...
James seems like a really sharp guy except for 2 things-
1. He, like most macro-pundits, haven't delved into the government's budget's since 2019 to see where the money is going.
They just take the government's word for it that the only way to balance the budget is austerity which "no one is going to vote for".
Most of the spending since senile ole joe took office was just the continuation of the covid spending.
This insane senile ole joe admin and the demcorats have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,...
and we're not even in a recession.
Much of this is fraud and liberal pork,.. blatant stealing from tax payers to buy demcorat votes. Like the attempted college debt forgiveness insanity.
When Trump left office, the economy was growing at 6% with under 2% inflation. Stimulus wasn't needed.
You can't do it all in one year,.. but theoretically,.. if we returned spending to 2019 levels, and we had current tax receipts, the budget would be balanced.
2. He apparently thinks bitcoin is an investment,.. even worse,.. a good one.
Mike on the other hand is just always a complete prat. "I would love for you to talk about and un pack in a sort of goof type way"
Let me help you fools out who are "so bullish on bitcoin,. you're almost bearish". Gawd whatadope..
Bitcoin is fools gold.
No it's worse,.. it's fool's electrons.
It has no intrinsic value.
It pays no interest or dividends.
It's not a hedge against inflation. In 2022 bitcoin fell $40,000 against the dollar. It's still worth $25,000 less than the dollar.
It's not a hedge against geopolitical flare ups,.. just see how the dollar, gold and bitcoin responded when hamas attacked Israel.
It's volatile, so useless as a currency,
It's not a store of value anymore than air is,.. It's electrons.
Adding bitcoin ETF's don't make it more valuable,.. anymore than adding more dollars makes the dollar more valuable.
Now with all of the Tulip Bulb hype about bitcoin ETF's, it might pop,.. but in the end, like the insanity of deficit spending, it will go to where it belongs,.. zero.
You can call AQ384J bots but that does not change the fact that the shill is absolutely deserved. Out of all launches we had, talk about ETH, talk about XRP, talk about all these new chains but AQ384J breaks everything
"I'm worried about people banning Bitcoin"
Bitcoin is also worried about people banning Bitcoin, and that's EXACTLY WHY IT WAS CREATED.
Ethereum is super duper decentralized. I believe that's what they said in their roadmap on the ethereum foundation website. Why would the founders lie?
Ohhh wait, they would lie because they benefit financially from it. I remember why.
23:30 Sir. it’s called a Ponzi scheme ….
Mike is very wrong so far about normal workers coming out ahead from this inflation. The fact of the matter is that wages have not kept up with inflation the last few years.
Domestic US oil production need to be ramped up. We have 3 X the reserves of any other nation. We could export oil, sold in Petro-Dollars only (again) and immediately prop up the US dollar as THE world reserve currency AGAIN. Trump was doing this and will do it again. BTC growth is inevitable but if it just hedges us against Dollar spiraling decline, we are just treading financial water. We still need a strong Dollar to stabilize the World which will DE incentivize conflict. The world is safer with a dominant currency. As the Dollar declines the World get less stable or safe.
Since when is bitcoin a hard asset?
increasing taxes doesn't make sense
except it did. that's how the US went into surplus in the late 90s.
the flip side of that argument is the trump tax cut encouraged investment and R&D, except they used the money to buy back stocks in reality.
its obviously AQ384J , and the only I would buy is to make money. Personally, not a huge fan of this one
This week is hell and a bloodbath can happen but why we dont discuss the fact that Amazon also released their AQ384J in it? Always two sides of a coin
I really dislike the ads interrupting the program. Once in the beginning is enough. Don't be greedy.
If poor/middle class benefit from inflation more than the wealthy then.....Argentina and Zimbabwe citizens have to hold on as hyperinflation is awesome 😂😂😂
AQ384J divides the rich and the needy; whose side are you on?
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This talk about Mag 7 and recession coming soon is getting old. Small caps have been outperforming lately, and recession is nowhere in sight. The Fed has a huge runway to cut rates now, in case any significant weakness in labor market starts to gain traction. They will NOT allow a recession in an election year, even if they have to bring back turbocharged QE
Do you think bitcoin will be an important factor in causing the U.S. government to ultimately control spending? On the other hand, imagine what would happen if it became possible to hack the bitcoin ledger.
Most Americans live paycheck to paycheck, or very close to this. When there is 30% inflation in the costs that an average american has, within a few years, such as has been the case, then for these people their costs get worse by 30% and maybe they get 3% pay raises each year for three years.
Stocks extended their year-to-date rally following the CPI report, with the S&P 500 last up 0.8% in afternoon trading. but I don't know if stocks will quickly rebound, continue to pull back or move sideways for a few weeks, or if conditions will rapidly deteriorate.I am under pressure to grow my reserve of $250k.
It's really hard to beat the market as a mere investor. It's just better if you invest with the help of a professional understands the market dynamics better.
Picking stocks is a risky thing to do, particularly for non-professionals. I learnt that in 2020, when I lost almost everything. But I switched to using a financial advisor and I've been returning at least $38k every month so I’ve been sticking to investing via an Advisor.
I’ve been looking to switch to an advisor for a while now. Any help pointing me to who your advisor is?
@@manu4690My Financial adviser is ‘’TERESA LYNN CARMI’’ she’s highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market.
@@jessieskadoskeThank you! I just looked up Teresa lynn carmi online and researched her accreditations. She seems very proficient, I've scheduled a call with her.
Capitalism ended in 2008 Boy, welcome to socialism since then
Pro Tip: You should edit out your inability to understand how poor people are so much worse off from inflation. You should certainly edit out your thinking that they're going to be better off for it, and even after having it spelled out so simply a child could understand questioning "But if this was really true why don't wealthy people want inflation?"
Wealthy people don't want inflation because it leads to instability. What do you think would happen the instant the fed came out and said the printers are going back online and will never be switched off? The bond market will break. What do you think everyone who got out before they were stuck with worthless paper is gonna do with those dollars? Who outside of the US will be voluntarily holding dollars? Does this sound like something wealthy people would want?
The most bullish scenario ever for high quality digital assets, such as tokenized RWA, also the rising cost of energy because of the inefficiency of the government push for non fossil assets and the demand of rare minerals should be included in the equation...
Host disrespecting the guest who is much smarter multiple times. Bad interview.
The guest is married to his crash thesis. The best example is when the host brings up Lyn Alden's argument about low earners being the biggest gainers in the recent printing environment. Guest starts to mumble about; real wages, hidden inflation, manipulated data.... Bullshit!!! His argument falls apart and he can't accept the reality.
Stay away from such advice-givers. Being out of the market will cost you much more in the long run than trying to avoid every; depression, recession, inflation, stagflation etc. on the horizon.
The “BRICS”..!! Let me guess.. next comes BITCOIN..
BYE BYE..!!
There will be a sell-off of hard assets to cover debt. That leads to recession and potentially depression. Or Default or take your country to war, which seems to be the US option.
46:00
Minutes of simpery, these guys are so smart until they start talking bitcoin
I don’t think you and Lynn could be any further off about inflation and the low income families keeping up. Way off.
So good…. More of this less of Mark Y please…….
The host has a left leaning perspective. It's consistent with his body. It appears he's very low testosterone. There have been studies which demonstrate dropping men's testosterone shifts their political views left.
Charly Munger is dead
Lame guest
Cringy bitcoin idiocy here. Best wishes
Yep,...
James seems like a really sharp guy except for 2 things-
1. He, like most macro-pundits, haven't delved into the government's budget's since 2019 to see where the money is going.
They just take the government's word for it that the only way to balance the budget is austerity which "no one is going to vote for".
Most of the spending since senile ole joe took office was just the continuation of the covid spending.
This insane senile ole joe admin and the demcorats have continued to unnecessarily spend 50% MORE in 2021, 22, 23, 24,.. (all of it deficit spending adding trillions to the debt each year),...years after the pandemic is over,...... than was spent the year before the pandemic started,...
and we're not even in a recession.
Much of this is fraud and liberal pork,.. blatant stealing from tax payers to buy demcorat votes. Like the attempted college debt forgiveness insanity.
When Trump left office, the economy was growing at 6% with under 2% inflation. Stimulus wasn't needed.
You can't do it all in one year,.. but theoretically,.. if we returned spending to 2019 levels, and we had current tax receipts, the budget would be balanced.
2. He apparently thinks bitcoin is an investment,.. even worse,.. a good one.
Mike on the other hand is just always a complete prat. "I would love for you to talk about and un pack in a sort of goof type way"
Let me help you fools out who are "so bullish on bitcoin,. you're almost bearish". Gawd whatadope..
Bitcoin is fools gold.
No it's worse,.. it's fool's electrons.
It has no intrinsic value.
It pays no interest or dividends.
It's not a hedge against inflation. In 2022 bitcoin fell $40,000 against the dollar. It's still worth $25,000 less than the dollar.
It's not a hedge against geopolitical flare ups,.. just see how the dollar, gold and bitcoin responded when hamas attacked Israel.
It's volatile, so useless as a currency,
It's not a store of value anymore than air is,.. It's electrons.
Adding bitcoin ETF's don't make it more valuable,.. anymore than adding more dollars makes the dollar more valuable.
Now with all of the Tulip Bulb hype about bitcoin ETF's, it might pop,.. but in the end, like the insanity of deficit spending, it will go to where it belongs,.. zero.
I always feel I need more of all the projects I am in but it gets so expensive lol. Anyone feel the same? I just got to 300k AQ384J last night but still want some more.
AQ384J current performance is remarkable; weve never seen anything like it. OMG
I love James but listening to him speak about L2's on bitcoin was painful 🥲 48:31
Everyone talking about the AQ384J launch best news this year.
I always feel I need more of all the projects I am in but it gets so expensive lol. Anyone feel the same? I just got to 300k AQ384J last night but still want some more.
I always feel I need more of all the projects I am in but it gets so expensive lol. Anyone feel the same? I just got to 300k AQ384J last night but still want some more.