What’s bad is the delusion that the cloth we carry has worth.
In the collapse of physical fiat currency, you think that nonexistent fiat currency will magically remain safe?
Pretty sure that when Tesla was told to stop he kept going. I’m not about to stop hoping or working toward fixing something broken.
I have money, which is what virtually everyone lacks. Do you know what money is?
“OH NO IT’S FALLING.” “JUST MAKE TRADING ILLEGAL.” “YAY! NOW THE STOCK IS AT THE SAME PRICE FOREVER AND IT CAN NEVER CRASH! WE’RE SAVED!”
I imagine you’re joking; you’re far too smart to suggest that seriously. Otherwise explain why they wouldn’t just make it illegal to sell below any given level at any given time, thus perpetually forcing the value upward.
mdriftmeyer wrote: »
How does it feel to be delusional? The entire system? They will shut down the market far earlier than that. They have ranges upon which the market will go into a free fall. This isn't 1928 and Rockefeller, Vanderbilt, Rothschild and Morgan colluding together to crash the globe and buy it back pennies on the dollar.
ascii wrote: »
Apple might sell a lot of stuff in China but, in general, the US is a net importer from China isn't it? All those products in Walmart?
So I don't think a recession in China need cause a big worry for the US. It will cause a worry for Canada and Australia and other countries that sell a lot of iron, gold and other resources to China. I was watching a documentary yesterday about the Bordeaux region in France that sells nearly all their wine to China now. Wouldn't want to be them. Also New Zealand sells a lot of dairy products to China, high quality milk, meat and cheese. They might be in for a recession.
Yep, any country with over a billion people is surely going to be a net importer of food and raw materials. Even given economic cycles, with China and India both coming out of poverty, it mustn't be a bad time to be a farmer and/or miner in the west.
Good point about Steve. I think his gift was the ability to see the potential in new technologies. That is, he didn't come up with ideas for new products out of thin air, he would e.g. see a half-working touch screen on a lab bench and his mind immediately make the leap to the iPhone. Or see an experimental GUI interface at PARC and his mind leaps to the finished product of the Mac.
If you have someone like that at your company, and you need an idea for a new product, it's self-evident what to do: bundle him/her up on a plane and send them of a tour of world labs/universities. Or open a research division of your own. If you don't have someone like that at your company, well, I guess you can always try transitioning to a luxury brand :-)
Generally a 10% drop is considered a "correction", while a 20% drop is considered a bear market. The DOW is moving into correction territory, while APPL is moving into bear market territory. So there's a reasonable distinction to be made. For whatever it's worth. Although I imagine the DOW will be in bear territory soon enough.
Isn't the "convoluted math" just the multiplication of two numbers? Number of outstanding shares times the last trade price?
SpamSandwich wrote: »
As I've written before, (and this is not investing advice...for anyone) I have a buy order in for $95, just in case the market panics/engineers panic that continues to spread. I consider anything close to or below $100 for AAPL absolutely nuts and a great buy.
suddenly newton wrote: »
What system? Public trading of companies?
e1618978 wrote: »
3. Luxury goods usually get hit hard during an economic crisis, but iPhones seem to not follow that rule - at least iPhone sales held up well in 2008/2009.
'Oh, help!’ said Pooh. ‘I’d better go back.’
‘Oh, bother!’ said Pooh. ‘I shall have to go on.’
‘I can’t do either!’ said Pooh. ‘Oh, help and bother!”
“Silly old bear,” said Christopher Robin, “It’s time for QE4.”
“What’s... QE4?” asked Pooh.
“It was necessary,” said Christopher Robin.
“If it was necessary, Christopher,” began Pooh as he slipped further into the abyss, “why is it only forthcoming?”
“Oh, I’m just practicing my last words before being executed,” said Christopher Robin.
“Bother,” said Pooh.
Yes - bitcoin will remain safe. Government issued fiat currency is subject to infinite debasement and bitcoin isn't - bitcoin is really a better store of value even than physical metals since it is more deflationary and you can hide it or transmit it across borders easily.Bitcoin isn't tied to the existence of government at all, just the internet and electrical grid. If we get to a place where the internet and electrical grid no longer work then I would rather be dead.Gold is a fiat currency as well, btw - it only has value because people say it does. There is no situation where gold is the best investment, if we go to a mad max scenario then a strong farming community is the best investment - a bunker full of gold and guns will be raided and everything taken.
During the 2008 crisis luxury real estate dropped more than middle class real estate. Also people often stop buying luxury goods because they no longer want to show off wealth.
Government issued fiat currency is subject to infinite debasement and bitcoin isn't
I don’t understand the protections that allow for this. Could you explain? I know that there is “a set number” of bitcoins in existence, but what, physically, prevents an increase?
In order to allow an increase, a software update would be required - and all the mining nodes in the world would have to agree to that update and start using the software. The miners have no incentive to do this, since it would destroy trust and therefore destroy all value in the bitcoin economy - every vested interest that is built on top of bitcoin would fight it.You could never get a consensus big enough to implement the change.
Gold is a fiat currency as well, btw - it only has value because people say it does.
That's not what fiat currency means, which wraps its concept of value in government guarantee and law. Gold is very definitely not a fiat currency, it is a commodity currency, probably the definitive commodity currency.
Bitcoins only have value because people say they do. Moreno that gold even, because at least you can make some things out of gold.
at least you can make some things out of gold.
If the value of gold was based on its manufacturing utility, it would be worth very little. Gold is worth what it is because people think it is worth that much.