GOLFMK8
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Anyone else mining

GTIfan99

Autocross Champion
We have too much money chasing too few goods. Rates are getting jacked up on order to try and curb inflation. Lots of people took out loans and purchased homes with variable rates due to record low borrowing cost, during the pandemic. Rates have gone up very fast, cutting into people's ability to spend, as their cost to maintain loans has gone up. Less disposable income means less bars, less tvs, less everything. When people spend less, economy shrinks. Economy shrinks unemployment grows.
You're assuming similar levels is variable rate mortgages to 2008, which isn't the case, and you're ignoring the historic structural labor shortage we're facing.

And this isn't a surprise. We've known a structure labor shortage was coming. The 07 recession slowed it, pandemic accelerated it, but it was always coming.
 

okMK

Autocross Champion
How you guys doing? Just wanted to check on you and make sure you were OK.
Well, all of my Ethereum is mined, so I don't lose anything for the price changing except some fractional electricity cost.

My cost basis on loopring is still around .20 cents, but I doubled my position again.

The GameStop crew predicted this market crash a year ago, so I withdrew the max I could from my 401k about 8 months back, for a long time I thought it was a mistake, now not so much. I hedged a portion of it in a big data company that hedged itself in gold. I'm assuming they will be positioned well after this bottoms out.

Speaking of GameStop, I bought July 1st $160 calls a few weeks back for around $300 each. The stock was hovering around $85 at the time. I sold them the next day for $1100 each when the interest rate on loaning shares quadrupled causing the price to rocket to about $140.


The only thing I didn't predict was the crazy gas/food/housing inflation. If I knew it was going to get this bad I would have traded in the GTI for a Prius.

Currently trying to decide if I want to buy a cheap home to stop spending $20,000 a year on rent... Or if I want to just sell everything and go live in a Model Y for a few months.
 
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GTIfan99

Autocross Champion

snobrdrdan

former GTI owner
You wouldn't like when Rhonda gets mad.


(side note, she died in 2011)
 

Acadia18

Autocross Champion
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