That bubble.....NFT's If anyone in the past 2 weeks hasn't been hearing about NFT's.....well don't even pay any mind to them because in actuality it's nothing but another corner of asset bubble created by the fed. Yes with trillions literally being printed we now have absolute fools paying tens of millions for digital art, yes digital art. People are amassing millions of dollars selling NFTs that anyone can own however yours for only $60,000,000 can be held on your personal block chain thats just yours. It makes absolutely zero sense and I can tell you now this is just the tip of the top that will come.collapsing down along with all other bubble assets once the fed stops printing its free trillions. Who knows when that will be or if they will ever stop but they are creating a very abnormal economy where people are selling digital art for millions. Don't even try to comprehend what is going on. This is just another sector of the market that people want to ride the wave and make sure they collect there millions hopefully before the market implodes because it always does. https://www.nbcnews.com/business/bu...cord-60-million-christie-s-first-nft-n1260544
Saw one "piece of digital art" where somebody paid $2.6 Million for it. What? In this digital age? Prolly took 5 minutes to compose. And then there's the Jack Dorsey "1st tweet"... 5 F'n WORDS! $2 Million. Makes the "Banana Taped To Canvas With Duct Tape"... selling for $120,000... look like chump change. (Too bad the artist wasn't smart enough to tape a kumquat instead of a banana.... would have been worth $MILLIONS! ) The world has gone mad, I tell you!
I know.... sour grapes... my bad. I'm just sooooo envious that I don't have that kind of artistic talent.
Generally, I agree with you.....unless....every single digital image available on the internet is about to become copyrighted and will demand royalties to be reproduced anywhere. If that were to happen, suddenly certain iconic images like planes hitting the WTC, JFK riding in the limo, OJ trying on the gloves, etc, might be worth a lot of money. But again, only if the above copyrighting scenario takes place.
Why do you say this??? We all love bull market, we all have 401k, IRAs and etc. plus many invest long term. But what we see now is not bull market but pure madness.
Madness I tell you! you can’t control the market, and make it bend to your will on how you think things should work. There is no such thing as a wall of worry unless you create it. lots of people talk about what should be happening. That’s no way to make money.
I remember one line from the movie "The Big Short" uttered by the big a$$hole when he was contemplating dumping all of their toxic MBS s*** to the entire industry, "we are selling to willing buyers". Don't blame the Feds. Blame the willing buyers. There are people who are stupid enough to buy s*** that doesn't even exist, not going to complain taking their $$.