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I'll drink to that. Probably 90% of these graduates are going to learn just how useless their degrees are once the economy tumbles. Best friend is a welder and I'm a stock trader with a history of carpentry, sales, and electronics repair. Maybe most people here would think I have a Jewy career but in our capitalist world if you don't know finance then you're probably getting bent over the table by someone somewhere. I just wanted a job where I can make money on my knowledge of the world (history, psychology, philosophy, business) and handle the families finances. This was a good fit, most of my family has no idea what they're doing but have some degree of wealth they'd probably like to hold onto.
The US is going to lose its hegemony as the world reserve currency in the future and the useless fucks here will have to learn what actual work is and what it means to produce goods again. I don't think it will be AS bad as many think, but it will turn the world upside down for these city people who built a life around hedonism and materialism. If you park your money in the right places you'll probably do quite well.
and the useless fucks here will have to learn what actual work is and what it means to produce goods again
That right there is the problem. They have no skills and haven't honed enough dexterity and muscle to be useful. They have no experience growing food, building tools, repairing electronics - they're the cellphone video game generation that is only good for running the computers and drones.
Couldn't agree more. Well rounded individuals are easily adaptable, they can take their experience from other things they've done and apply it to whatever else they do in the future. Most of my generation is ENTIRELY untrainable. You'd literally be better off hiring a teenager than a 30+ year old millennial/gen z.
Bitcoin is also owned by the rich.
Imagine a world where everyone is scrambling over like, 0.00001 BTC meanwhile these pricks have hundreds of thousands, perhaps millions just chilling, and they have top of the line computer algorithms slowly accumulating more and more. Everyone trading on margin and they just flood the market with Bitcoin every once and a while, which causes these 40% drops, liquidates EVERYONE and takes all their shit. It's really shady and probably just a farming operation, or a good way to move money around, or a good vehicle for trading if you're knowledgeable enough (95% aren't). It would be a nightmare as an actual store of value.
Inflation is good in some sense. You can mine more gold, copper, silver, palladium or whatever else. And all of this can be "reacquired" once people get sick of one person owning basically everything and take his shit, that's what Nazi Germany did. Would they have been able to do this if it was all Bitcoin? Nope. With digital, that never really happens. Crypto is attractive to the ruling elites for this exact reason. You will see them saying things like that, "crypto itself is great but Bitcoin is dangerous". It's a stepping stone to the new world currency. They'll know exactly what you buy, exactly how much you have, exactly what you own, you will not even be able to fart without them knowing about it and signing off on it.
It's funny how 10-20 years ago everyone was terrified of electronic currency for all of these reasons, and now all of these same camps see it as being red-pilled.
I don't think there is one ultimate asset to rule them all. Certain assets are excellent in certain environments and shitty in other environments. Economic cycles are long enough that you can carefully strategize which cycle we're in and where best to store your money. Holding the dollar during the great depression would've made you obscenely wealthy because it was a deflationary depression.
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