Every where I turn I see stores closing and people suggesting we should buy gold, silver, bitcoin, ethereum, litecoin etc. Should believe these people who sound like they have credibile credentials? I can see with my own eyes that our population is aging, but many are still working. There have been several decades in my lifetime where we go thru the buy gold cycle yet we never need it. Are we seeing the same kind of thing with crypo currencies? What do you think and why?
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Our economy is fundamentally designed to have depressions or recessions in cycles: How The Economic Machine Works by Ray Dalio!. However, it is very hard to say when the next recession will come.
Moreover, fundamentals of the economy are changing. It is mainly due to automation and tech-revolution. People can buy stuffs online with less cost and more flexibility. No wonder that retail jobs are vanishing. Not only most parts of online shopping but also any repetitive jobs can be automated and will be automated. A retail chain with 1000 employees can be converted 10 person online store with automation. We need some kind of Universal Basic Income (UBI) to address the upcoming mass unemployment. As Bill Gates recently said we should tax robots or algorithm that earn money :)
I think cryptocurreny as an asset class that provides values to stakeholders. If a currency has a good brand, utility, and growing number of users or followers, it's value will eventually rise due to network effect. Moreover, cryptocurrency is also fundamentally changing the economy on how money is created-- that is another issue of discussion.
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I agree with you. Have you ever watch Ray Dalio's cycle of money on you tube? He says we are at a 75 year cycle where if the right economic moves aren't made it can prolong the market downturn cycle. It's the period in which government leadership changes and not always for the better.
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We'll hit a market clas and due to the global nature of our economy many countries will suffer. I'd say right now its safer to invest in the top five cryptocoins than stocks.
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You are soooo right!
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I absolutely agree with you!
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