Is the crypto winter over?

The_Krakenite said:
The US already defaulted on its gold obligations in 71. This is why the 50s & 60s were the last of the era where one in the working-class could work hard and make a rich life for themselves. Now you're taxed to death and drowning in inflation ever since, while job wages have not increased.

The future isn't going to be any brighter.
More...

It used to be a household can be supported by a single earner shoe salesman...

Nowadays, both parents have to work and do side hustles like uber and doordash to support the same household

Wage increase has not kept up with inflation. Fiat ponzi, get higher new debts to help pay the old ones and today, the consumer debt is all time high and 60% of households cannot afford an emergency expense of more than $400

It will get worse... But the future is going to be great for Bitcoiners
 
johnarb said:
It used to be a household can be supported by a single earner shoe salesman...
More...
Really the only thing that changed is our expectations. 60s households had 1 car, 1 TV(maybe). 1 phone attached to the wall and the kids went outside and played. There was very little consumer debt. If you didn't have the money to buy something you saved up not borrowed.
 
deaddog said:
Really the only thing that changed is our expectations. 60s households had 1 car, 1 TV(maybe). 1 phone attached to the wall and the kids went outside and played. There was very little consumer debt. If you didn't have the money to buy something you saved up not borrowed.
More...

In the 60's, a house cost less than $20k and a car less than $2k, now they cost 40x more but wages did not increase 40x

Anyway, back to the thread topic, I have polluted it too much, apologies schizo
 
Really the only thing that changed is our expectations.
More...

That is not quite correct. It used to be the middle class could purchase a house after only TWO years of work. A car could be purchased after only a month. There is a good reason why the average household used to have TWO cards, despite only one parent used to go to work (and had to pay for multiple children at the same time).

Politicians have totally wrekt that system... in exchange for votes/hand-outs.

Even the healthcare was superior back then. Because your dollar went so much father, it was very cheap to get excellent healthcare. Those days are gone now too. As soon as the government takes anything over, it bubbles in cost and goes backwards. This is one of the prime reasons in the early 80s we were still flooded by immigrants trying to escape out of socialist countries. Now, we're ending up with the VERY same problems...
 
So I guess they're out to prove me wrong. :) We've just hit the previous support, now resistance, so let's see if it can break out above.

upload_2023-2-26_12-44-18.png
 
You must log in or register to reply here.
Back
Top