let's talk about the stonks market(s) and possible depression πŸ’ΈπŸ’²πŸ“‰πŸ˜¬

house prices are up cos many middle class house buyers have massively increased their savings over the last year, plus the money supply has exploded cos the central banks wanted to avoid a collapse

in 2008 the money supply exploded in response to the crash, and then eventually the effect appeared in house price inflation - in the year to Sept 2014 the average London house went up from Β£431k to Β£514k, a 19.1% increase

this time, the house price explosion has begun at the same time as the money supply explosion so in a couple of years house price inflation could be absolutely flying, especially with the government now getting involved

it’s gonna end badly

Got my documents through for my shareholder votes for the GameStop AGM.

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Forgot all about my doge and now I see I missed a massive spike. Fuck.

Yeah it went from like 0.06 to 0.40 right?

Still at over 0.2 though

Debating whether to sell now while I’ve remembered about it. I assume it’ll be on a downward spiral again soon

I reckon there’s at least a couple of spikes left in it. I’m not entirely sure what I’m basing this on but I’m gonna hodl for a bit longer and try and cash out around 0.5-0.6. And then probably be filled with regret as it somehow defies all market logic and jumps to a ridiculous number the moment I do.

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Current trajectory for the coin seems to be that it performs a massive gain, then settles to a new level that’s a way below the peak of that gain but is still established, and then next time Elon says something or it’s weed day it goes up again. It’s a constantly depreciating asset due to the lack of cap but it’s also got weird longevity due to it being a joke that’s got out of hand. Honestly, if you’re not hurting for the money, you might as well hang on for a bit and see what happens because it’s got this daft potential to do three-figure gains for seemingly no reason.

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That’s pretty much what I’ve been thinking but I do feel there’s a ceiling for all this hype and due to that lack of cap it’s not all that high. Weed day was actually a pretty poor day for Doge - most folk were trying cash out before everyone else did and it ended up going nowhere. And Elon’s tweets don’t seem to move the needle much anymore either, no matter how excited Reddit gets about it.

My endgame is basically being able to cash out with some free money to buy one the many silly guitar pedals on my wishlist anyhow. I’m currently at reasonably priced tremelo pedal levels - will I crash down to a Β£10 Chinese fuzz clone off eBay or soar all the way up to some kind of Straymon/Chase Bliss ambient machine? Stay tuned!

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The line’s doing that thing again

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GameStop emailed me the other day

Hold the fucking shops lads!!!

Saw something on reddit on Sunday saying this was going to happen again but, I didn’t quite understand it. Think it was something to do with the amount of shares available.

Mostly been said before but this is a devastatingly accurate and depressing last paragraph.

https://drewdevault.com/2021/04/26/Cryptocurrency-is-a-disaster.html

Cryptocurrency is one of the worst inventions of the 21st century. I am ashamed to share an industry with this exploitative grift. It has failed to be a useful currency, invented a new class of internet abuse, further enriched the rich, wasted staggering amounts of electricity, hastened climate change, ruined hundreds of otherwise promising projects, provided a climate for hundreds of scams to flourish, created shortages and price hikes for consumer hardware, and injected perverse incentives into technology everywhere. Fuck cryptocurrency.

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Doge is on the rise

It’s interesting that the supermarkets are taking a hit during lockdown, with Sainsbury’s announcing a loss today. All I’ve done since lockdown is spend in the supermarket! I expected all the supermarkets to report higher profits, but clearly the spending due to COVID has cost them much more than anticipated.

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People have bought a lot more local food haven’t they, not surprising

Grocery and merchandise sales actually went up for sainbos they just spent a fortune on covid related stuff.

Think also people’s shopping habits changed a lot. Rather than grabbing bits every day or couple of days as has been the shift over the years previous, most people were spacing out their shops to weekly or bi-weekly or whenever they really needed to get stuff in.