People've got way too much money to burn. How about spending them on creating housing and schools for the poor? How about spending them on creating sanctuaries for the homeless? How about spending the $$ to create some jobs and support some businesses for the people who just lost them due to the pandemic lockdown? So many ways to spend the money and they want to spend it on a BAG? Seriously a bag? A container that you put stuff in and carry around? It's only becoming an investment because people are hyping it up. Feel so sorry for that crocodile who just lost its skin and its life just for people to have something to put stuff in and carry around.
They have already paid their condolences by posting some generic hysteria post on social media, black screen for example.
Same can be said for exotic cars, watches, or homes with an attached bathroom with running water. Many say that trading is a worthless activity. Instead of trading your capital how about spending your money on creating housing for the poor? And don’t give me that “I give a lot of money to charity line.” If you live in a structure with 4 walls, electricity, and high speed internet, you are living a luxurious life.
I believe the crocodile Birkin is expensive because they stopped making them when the actress who inspired the bag protested.
Trading is not a worthless activity. That statement just shows you have no idea about trading. Exotic cars, watches and homes with an attached bathroom with running water are all things that have real and entrenched value that is essential to our lives and the item is not trivial. There has to be certain limit to what should be considered as something that has value, not just because it has limited quantity. My s*** is also unique and is very rare with very limited quantities; it's only produced with the waste from my own unique diet, and it's also useful in fertilizing the land to produce food and is made up of minerals (might even include gold) and amino acids, would you like it to buy it if I also embed diamonds in it?
Trading/specuation is so important to an economy everyone should be saying a small prayer to traders/speculators before they go to bed. Without speculation we wouldn't have large companies and without large companies we wouldn't have airplanes, cars, white goods, cheap food and so on. Why? Because speculation is really buying risk. So if specuators buy risk it must mean someone is selling it. Who? Big companies. They need to manage their risk otherwise they can't grow in size. Think how much copper a massive white goods manufacturer needs? if the price of copper doubles or triples over a year chances are they'd go broke. Same with the copper mine, if the price moves 50% lower over a year they might go broke. So both WANT to hedge their risk and that's why speculators are absolutly critical to a large and prosperous economy. Look at the shitty countries in the world, ain't much speculation is there? Unsurprising. Speculation also helps to make a price which is atually not that easy to do and can only be done with many people willing to make a price. For example, you might have a car to sell but I don't drive so the price you want versus the price I'd pay is miles apart. But if you take the car to a car auction you're going to get a generally fair price. Speculation also tightens the prices making it cheaper for everyone to trade. Of course Hollywood and the politicians always need a bad guy and any money man is normally always going to be that bad guy. And there's no doubt that speculation sometimes gets too crazy but that's a small price to pay for the massive value they bring to an economy.
Your comments are odd coming from a trader who at best trades pieces of paper and at worst is gambling with side bets. It’s also odd coming from a person who ostensibly earns a lot of income from the free market of supply and demand. It’s reasonable to believe the handbags are overpriced, but it is inconsistent to insist that those people put their money to helping the poor.