My Printer Doesn't Do This...steemCreated with Sketch.

in #money7 months ago (edited)

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My printer doesn't do this...

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I hate printers, I really do! My printer loves to suck paper in, shred it and print nothing out. Every 2 or 3 pages it starts begging me for help because it's stuck! The amount of paint and paper I waste trying to print one page is maddening. Goddamn printer, why can't you be more like your cousin the Federal Reserve printer! Why can't you print me money!

Everyone that was alive in 2008 probably remembers the huge financial crisis caused by the housing market bubble... It was bad! People lost their jobs, people starved, some people were never the same after that crisis, and guess what! Nothing changed...

The same issues that caused the 2008 bubble, the same issues we had back then, are still going on!

Undercollaterized loans, overleveraging debt, Fractional Reserve, companies to-big-to-fail that need bailouts with tax money, even though they issued many stock buybacks in the last couple of years... All of these factors only end up doing one thing! Creating bubbles!

Bubbles that can pop at any minute, and guess what, when one bubble pops, the probability is that all others pop at the same time. It's a cascade of bubble popping! Pop, pop, pop! POP, POP, POP! Pops that end up taking years to recover from...

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It only takes a small needle, a small event, a small encumbrance to pop the first bubble to start the popping cascade, and that's what we are getting now with this virus going around... the needle has already breached the bubble and popped it, but guess what... the solution the Federal Reserve came up with is to PRINT MORE MONEY! Quantitative Easing to infinity! When will they stop? Nobody knows... not even them! (QE to infinity was supposed to be a joke goddamn!)

Print Trillions upon Trillions of dollars and stick it inside the bubble hoping that the bubble will self-heal and won't fully deflate... They are just prolonging the inevitable. It doesn't work like that Federal Reserve, your 50-year-old experience is not working, people are getting more and more in debt and not paying it back (student debt much?), and a minor event can make the whole economy crumble.

The Federal Reserve reminds me of me when I was a teen doing school homework:

Teen me: "These numbers aren't adding up... oh well, I'll just add a zero here and a zero there, and done. I think nobody will notice..." Spoiler: The teacher always found out.

Printing money is awesome... for the owner of the printer! But not for everyone else! Every time the Federal Reserve decides to print money it's devaluing every single dollar in the world. But the dollar isn't the only one affected. Since the dollar is the reserve currency of the world, all other currencies are affected by it! The whole world is affected by it.

This is where Bitcoin comes in!...? Right? Oh fuck...

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Well, this is the first economical crisis that Bitcoin is going through, and it's not a normal crisis, it's a virus-induced crisis, which is honestly a little different than other economical crisis, still... Bitcoin's price isn't really developing has most crypto enthusiasts hoped for.

Bitcoin has been following the SP500. When one goes up the other goes up, when one goes down the other goes down, this really isn't what we hoped to see. It was supposed to be a safe-haven! Maybe it needs more time and more blood in the market... Maybe it only went down during this early dump and will soon start capturing a lot of the money being printed by the Fed and capturing a lot of the value from people afraid of the dollar. Gold normally follows this pattern, so maybe Bitcoin does too? Fingers crossed.

We are living in very exciting times in the crypto market! The next 1-2 years can either support the safe-haven claim, or break the safe-haven claim. The next 1-2 years will force companies to adopt better tech to reduce costs and increase safety, which blockchain helps! The next 1-2 years will probably result in many financial academic papers, not only on Bitcoin and Crypto price and rate of adoption, but also on the stock market.

Regardless of what happens, keep hustling! Economic crises are where fortunes are made! Many of the top investors made their whole fortunes during economic crises. Warren Buffet, for example, bought Coca Cola shares, among others, during an economic crisis and made millions by hodling it. Buy when there's blood on the streets! Reduce your costs! Save more money to invest! This is a once in a lifetime opportunity! DO NOT MISS IT!

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It is not cool to let the printer make your saving less valuable.

Indeed it's not... just to support a stock market that only a small portion of the population invests in. The money should be airdropped to people in a sort of UBI way and at least that money would for sure end up going up the economy until it reached the gov and companies again.

I believe is a good idea, we might see that with the pandemic, maybe!

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