I know this goes with the feeling in your bones that the dips must be bought. I'm begging please for the love of everything to actually do it, and to buy the dip. The economic signs are looking very good.
- The Fed is pretty much done fighting half-century high inflation. Last month saw a slight decline in yearly inflation and this decline was largely due to supply chains problems being resolved. I must remind the bears that CPI - a lagging indicator - has peaked this summer.
- Russia has severely reduced and outright halted gas flows to many European countries, which has absolutely nothing to do with crypto. Maybe Europeans will need to cut their discretionnary spending, but we have yet to see an inch of evidence about that.
- We can look at the jobs numbers. 528,000 jobs were added to the economy. and the unemployment rate edged down to 3.5 percent, a historic low for the past half-century. About 170,000 jobs were added according to the household survey. Interestingly, we actually lost about 71,000 full-time workers and added around 380,000 part-time jobs. The amount of multiple job holders increased by 92,000. Why would people suddenly need to work multiple jobs? Because remote work let them do it, and they want to extract as much value as possible from the job market.
- Consumer Personal Savings is taking and absolute swan dive in the United States, but that doesn't mean much when it comes to crypto. In Canada, for example, it's the contrary, and families have more money then ever.
Folks, now is the time to be greedy out there. Many have already made enough to retire in the last bull run. Don't be a fucking pussy and take risk if you can afford to. That's how WAGMI.
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