Has the market sell off started?

[Parks 788]

I have a good feeling that we made a great decision to sell our house when we did. Not sure how raising inflation affects the houseing market but it can't be good. Currently in Escrow and today the buyers removed all contingencies. Any reason they back out now we keep their $46K deposit.

Anyone have an opinion what cryptos will do if the market starts to crap out and inflation goes up significantly?

 

[tRidiot]

Anyone have an opinion what cryptos will do if the market starts to crap out and inflation goes up significantly?

Couple different ways to look at it... not being directly tied to the US dollar, as long as worldwide inflation doesn't get out of hand, it should be ok - big IF, I know.

But instability in the market and poor consumer confidence could tank everything.

In other words, not a damned clue. <sigh>

 

[dennishoddy]

Usually, the market is a good indicator of future economic performance. Today it appears it might be lagging a bit. The economy is in real trouble with the media being known accomplices of reporting false information.
The media told us the economy is going to be booming this year. Last week had the worst jobs report in history. We were told 1,000,000 new jobs were going to be created in April. That was an overstatement of 734,000. And the March numbers were revised downwards 146,000 as the reported numbers were overstated as well. Funny, under Trump, the numbers were always revised higher than reported. Under Biden, the numbers are revised down. That’s the drive by media for you.

Hunker down folks.

View attachment 205260

We need to throw some more money at the unemployed to save them during this self induced crisis.

 

[dennishoddy]

This is like a sale on Amazon. Where they raise the price, then discount the item that is now priced higher than before the sale.

Im waiting for the real sale where prices are 75% off. Like an after Christmas sale. I don’t know if we will get there, but I’ve prepped for some discounts.

I have some change getting ready for this.

 

[dennishoddy]

What milling machine are you buying? I've come close to buying a mill and/or a lathe 10 times, but never did it. Mostly because I don't need it..

I have three lathes, two metal and one wood.
Unless your comercial they don't get a lot of use, but I have a hobby of rebuilding old farm equipment. Some of the parts are not made anymore, so I make my own. One lathe set up as a milling machine and the other as a true lathe for turning.
They sit there all lonely until they are needed and then are invaluable.
Somebody posted a video of a worm gatherer made of wood with ribs on this forum where you stick one part into the ground and take another piece to rub up and down the rib part to create a vibration that will drive the worms above ground to be picked up.
I saw a project, went to the shop, spent about three hours building one and went to the place where worms should be prolific.
I rubbed those sticks for a long time. Never saw a worm like the YouTube videos said I would.
I think its BS, but I did get into the shop for a few hours and create a pile of wood cuttings which was fun. That's how I look at it.

 

[SlugSlinger]

I have a good feeling that we made a great decision to sell our house when we did. Not sure how raising inflation affects the houseing market but it can't be good. Currently in Escrow and today the buyers removed all contingencies. Any reason they back out now we keep their $46K deposit.

Anyone have an opinion what cryptos will do if the market starts to crap out and inflation goes up significantly?

Inflation is the devaluation of fiat currency. Fiat currency is something that has no intrinsic value and is not backed by an asset. Fiat currency can be manipulated and that’s what’s going on since the US moved from the gold standard. I posted a graph showing what happened to wages and productivity after the US moved from the gold standard and essentially wages dropped and productivity went up all pointing to the effects of inflation.

The hedge against inflation is holding assets, not cash (fiat currency). A house is an asset, but it could also be in a bubble when the market is doing what it’s doing now with the crazy high house prices.
Ammo is a perfect example of an asset and the devaluing dollar, although other variables are in play. The Ammo prices have gone up. A lot due to supply and demand and some due to the dollar losing value.

The media is telling us we will see transitory inflation. That means temporary inflation. I tend to believe that is not true.

Crypto is popular and going up compared to the dollar because people have more faith in it not being manipulated than the US dollar right now. The .gov backs the dollar and look at who’s running the .gov right now or at any time really.

Cash is what loses value during inflation.

 

[RickN]

This is not good!


Producer prices post biggest annual increase on record
PPI rose 6.2% year over year

https://www.foxbusiness.com/economy/producer-price-index-april-2021

 

[SlugSlinger]

Yep, check out lumber prices:

 

[SlugSlinger]

Oh, look at inflation this way. It’s an intentional tax on everyone, the .gov just doesn’t tell anyone this.

 

[trekrok]

Oh, look at inflation this way. It’s an intentional tax on everyone, the .gov just doesn’t tell anyone this.

You must be mistaken, no one making more than $400k will pay a penny more..