 | Because I know 99.99999% of people won't read a wall of text (even more when it is a TA post). I wanted to copy and paste here the last bit from my TA post which gets into the major factors on why no market is taking off, and the under reported true cost of living increase. Keep in mind wages while they increased. To keep up with this cost of living increase they would've basically had to nearly double. Since many didn't go up at all, or the ones that did honestly didn't go up by much. The average person is going backwards, and I fear the charts we will see by 2025 will show during this time the gap between the ultra rich/major CEO and average worker wages massively increased. ______________________________________________________ Major side noteDuring times like this I look at average day to day things and prices. The reason why is if you look at raw inflation numbers they don't include things you need to live, and people 100% will pull money out of any market so they and their kids don't starve. https://www.ams.usda.gov/mnreports/pybshellegg.pdf As we can see, the price of something like eggs has skyrocketed. Milk https://fred.stlouisfed.org/series/APU0000709112 Gas https://fred.stlouisfed.org/series/GASREGW Basically, everything is costing more and this is to include just getting to work. Meaning some people are legit having to sell their crypto to afford the gas to get to and from work, buy food, or whatever. So unlike other times where people might sell because their feelings on a project or the overall market. They are selling to simply stay alive. It's about equal to ripping the wood out of the walls while living in a house, so you can sell the wood to keep living the next day. They aren't selling because they want to. They are selling because without that they have to go into debt/more debt, and without selling they can't survive until tomorrow. Where tomorrow if they get back on their feet, some of them might jump back in. I know most people are going to simply not read this and they are going to miss the important bits. If you want to help others, then comment and talk about the last part I have in bold. This letting others know why NO market is taking off. The true impact of this inflation. And keep in mind, most economic people agree we are 100% near a recession. And when we go into it, it most likely will be the worst one we ever seen in human history. [link] [comments] |
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