Trump Refuses to Rule Out Recession, Stock Market Dips 10%

[PurpleTree]

1 hour ago, ExploringReality said:

 i got rich dad at home lol

Like a sugar daddy?

[Leo Gura]

1 hour ago, Frylock said:

"He'll be good for the economy."

That's like saying that the loggers will be good for forestation. Or the poachers will be good for endangered animals.

Voters put the fox in charge of the hen-house.

Trumping running the government is like Jeffery Epstein running a high school.

Edited 21 hours ago by Leo Gura

[ChadT]

1 hour ago, ExploringReality said:

@Leo Gura

Heard! Thanks for the clarification.

What are some books or avenues of financial education? i got rich dad at home lol

If you are interested in investing and economics, this is the best YouTube channel / podcast out there imho.   They do 4 different shows a week, with lots of guests.  Tom Lee is the GOAT imo, well maybe after Buffett.   Today's WAYT show was pretty good.  Talked a lot about what they think Trump is up to. 

 

[OBEler]

@Leo Gura @Leo Gura I think you still not understood me right here.It's all about money policy. When this crash comes the Fed will help through printing money. This new money will be spent on risky assets as it was always the case. And cryptos are risky assets. And that will explode upwards of course many coins. 

Bitcoin is a shit coin like almost everything else. The only valuable one is Ethereum. Ethereum really has potential for usage everything else is just used for speculation.

 

[Leo Gura]

4 minutes ago, OBEler said:

@Leo Gura @Leo Gura I think you still not understood me right here.It's all about money policy. When this crash comes the Fed will help through printing money. This new money will be spent on risky assets as it was always the case. And cryptos are risky assets. And that will explode upwards of course many coins. 

I don't think that's how it works.

4 minutes ago, OBEler said:

Bitcoin is a shit coin like almost everything else.

Nope, nope, nope.

[integral]

It's unclear what the market will do, the inequality Gap will only get larger from here. If we know that then where is the money going to go? Rich people put their Investments in housing as stored value and other "collectibles", driving up prices and exacerbating the affordability crisis for everyone else. The affordability crisis will not stop as the inequality epidemic keeps getting worse, they are directly tied.

Edited 21 hours ago by integral

[OBEler]

@Leo Gura i don't mean that other coins can compete with BTC , because BTC is too strong. I mean that BTC is like every other coin just speculation. I don't see real world use here. Ethereum on the other hand has real use cases.

If you don't think that it works then just look at what happened when the Fed prints money. Every time 3 months later all risks assets go up extreme. People like to take cheap credits and speculate on risk assets if the money is there. Always the case.

Edited 21 hours ago by OBEler

[Leo Gura]

10 minutes ago, OBEler said:

@Leo Gura i don't mean that other coins can compete with BTC , because BTC is too strong. I mean that BTC is like every other coin just speculation. I don't see real world use here. Ethereum on the other hand has real use cases.

BTC is highly useful as a store of value, gold replacement.

Ideally we replace all gold with Bitcoin. Moving and trading gold is horribly inefficient and pain in the ass.

E-gold is badly needed.

Etherium is crap. They can always print more of it. It is not a store of value, is an unregistered security and should be outlawed or regulated.

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If you don't think that it works then just look at what happened when the Fed prints money. Every time 3 months later all risks assets go up extreme.

After a serious crash most of those coins will permanently die and the markets will not recover for years.

Don't conflate minor corrections with a proper crash and recession. When I say crash, I mean it will stay crashed for at least 6 months.

Edited 21 hours ago by Leo Gura

[FourCrossedWands]

@Leo Gurasorry but e-gold will never happen.

Crypto bros have been saying for over a decade that Bitcoin will replace gold, yet gold market cap has gained over 10 trillion dollars since then and it's not slowing down. How much has crypto gained in the last couple of years? 1 tril?

China, the main pusher of everything digital, buys gold like there is no tomorrow. Everything you believe is wrong about gold is the main reason why it can't be replaced by a digital asset. It is scarce in the real world and it cannot be destroyed. It's really hard to move and steal, which is a plus.

Bitcoin, on the other hand can both be destroyed (hackers/quantum computing, etc.) and replicated.

90% of people will never trust crypto. It's just human nature.

One single tweet can literally crash the whole crypto market lol.

[Leo Gura]

36 minutes ago, FourCrossedWands said:

@Leo Gurasorry but e-gold will never happen.

Crypto bros have been saying for over a decade that Bitcoin will replace gold, yet gold market cap has gained over 10 trillion dollars since then and it's not slowing down. How much has crypto gained in the last couple of years? 1 tril?

There's room for both. Bitcoin IS e-gold already. Just in early stages and cluttered with a lot of shitcoin noise.

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China, the main pusher of everything digital, buys gold like there is no tomorrow. Everything you believe is wrong about gold is the main reason why it can't be replaced by a digital asset. It is scarce in the real world and it cannot be destroyed. It's really hard to move and steal, which is a plus.

This is a good point.

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Bitcoin, on the other hand can both be destroyed (hackers/quantum computing, etc.) and replicated.

I don't know how you would destroy Bitcoin. The whole network. If you destroy individual coins that only makes Bitcoin more valuable.

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90% of people will never trust crypto. It's just human nature.

Gen-Z will trust e-stuff.

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One single tweet can literally crash the whole crypto market lol.

It can start a crash, but tweets can also crash markets. And Bitcoin is volatile but pretty consistently holds or increases its value over the years. I don't see it dying. It's a useful way to move around value quickly and cheaply.

I tried buying physical gold. It's a total pain in the dick.

Go try to buy $400,000 in gold, and then sell it. Good luck. I actually tried. It was so annoying I decided against it.

Edited 13 hours ago by Leo Gura

[ExploringReality]

@Leo Gura @Leo Gura 

I have your book list. It's very powerful and useful.

I will check them out, when will you update the book list? 

Why do you say Robert is a fraud? By the way my name is Robert too lol

[Leo Gura]

8 minutes ago, ExploringReality said:

@Leo Gura

when will you update the book list? 

I should. It just takes work but I'm focused on more important work right now.

I'm working on important new videos.

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Why do you say Robert is a fraud? By the way my name is Robert too lol

 

 

Edited 13 hours ago by Leo Gura

[ExploringReality]

@Leo Gura

Whoa!! I got hoodwinked, the book is compelling but didn't realize this 

[Leo Gura]

3 minutes ago, ExploringReality said:

I got hoodwinked

We all did. Typical self-help guru corruption.

[ExploringReality]

@Leo Gura

Man that's fucked up cause Primerica even got my ass, they didn't get no money of me though, but they're ass kept calling and shit hahaha they used rich dad as pitch and I was like ohh yeah I have that book yada yada yada lol

Yes I am aware that you have work lined up for us after that last episode, so no rush on anything. You been prolific for a very long time.

Edited 13 hours ago by ExploringReality

[FourCrossedWands]

30 minutes ago, Leo Gura said:

We all did. Typical self-help guru corruption.

In EU, selling gold is easy. Just put whatever amount you have into a box and send it insured back to the company you bought it from.

There are lots of reputable companies and the buy/sell price difference is usually under 5%.

Honestly, buying gold was the best investment I could do apart from maybe buying real estate. There was zero hassle and I don't need to check the price daily.

But yeah, if you don't want to send the gold for whatever reason and the local gold sellers suck, it can be a pain in the ass.

[sholomar]

I personally am enjoying the prospect of deflation. It's the last 4 years mostly that the middle class have gotten priced out of a good life, and it's mostly down to all the money printing, quantitative easing, and excessive government spending.  All the valuation indicators suggest we are in a massive bubble, but everyone is stuck in this fairy tale, stocks are undervalued, ra ra let's keep pumping up the asset bubble mode. It's crazy to watch. Enjoying the show, regardless of the outcome.  Some valuation metrics:

https://www.multpl.com/shiller-pe

https://www.multpl.com/s-p-500-price-to-sales

https://yardeni.com/charts/margin-debt/

https://www.gurufocus.com/stock-market-valuations.php

https://www.gurufocus.com/economic_indicators/150/sp-500-dividend-yield

Literally every metric suggest massive bubble, like 2000 level or 1929 level valuations. In order to continue to current trajectory of stock market rise would require continued mass injection of liquidity into the system. Asset prices have far outperformed wage growth and the top 10% own 93% of the US stock market value as it is. Do you think this trickles down?

https://mronline.org/2022/10/04/trickle-down-economics/

https://inequality.org/article/stock-ownership-concentration/

Edited 12 hours ago by sholomar

[FourCrossedWands]

@Leo GuraI mean, the whole network probably can't be destroyed, but if you have your Bitcoin on a hardware wallet and there is a fire, it's gone. You know fires are very common these days right?

But yeah, it's good for Bitcoin 😂

[Leo Gura]

1 hour ago, FourCrossedWands said:

if you have your Bitcoin on a hardware wallet and there is a fire, it's gone. You know fires are very common these days right?

That's easily solved by etching your seed key on a steel plate.

It's called a Cold Wallet:

https://amzn.to/4kKWx5S

Paying 5% to trade gold is miserable.

Edited 11 hours ago by Leo Gura

[PurpleTree]

22 minutes ago, Leo Gura said:

That's easily solved by etching your seed key on a steel plate.

It's called a Cold Wallet:

https://amzn.to/4kKWx5S

Paying 5% to trade gold is miserable.

Hackers could steal it?

And if you want to cash it out you also have to move it through platforms and pay fees?