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  1. #12626
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    Quote Originally Posted by bennymac View Post
    Wow what a checkmate move you just pulled
    What kind of moves are the people who said BTC was dead when it was 3K in December 2018 pulling?

    Or how about Bunion who said BTC wouldn't exist in 5 years? It's been about 2 so far and it seems to be hanging in there.

  2. #12627
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    Quote Originally Posted by stalefish3169 View Post
    Cool. So I guess you're gonna pick up some new Apple VR Goggles for the whole family at $3500 a pop then?
    What does this have to do with the price of bread? Because while bread is in the CPI that's evaluated in inflation, this sure as shit isn't.
    Apple tax is a whole other animal. For laughs, go look at the price of this: https://www.apple.com/shop/product/M...it-for-mac-pro
    Then search any reputable M2 SSD.
    It's always been that way with them.

  3. #12628
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    Jun 2020
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    Quote Originally Posted by stalefish3169 View Post
    I don't know where you live. But on the West Coast, even with some modest decreases, houses are still well above their 2020 costs. And of course interest rates are several multiples higher, so actual affordability is out of reach for many. Gas here is slightly down, although that is probably mostly due to Uncle Joe emptying the strategic reserves at a historic rate. Food here is where I am feeling inflation the most; empirically I'd say it's running 20-30% YOY.
    I’m in Truckee.

    Closest data I can find is SF area:

    Food
    Food prices decreased 0.7 percent for the two months ending in April.”

    https://www.bls.gov/regions/west/new...nfrancisco.htm

    Gas is down globally. That’s why Saudi Arabia just announced new efforts to prop up the price.

    Housing is super painful right now. It’s not a good time to buy. Just like it wasn’t when I was ready to buy at the peak of the housing bubble. I get that it sucks, but sometimes shit happens that’s out of your control.


  4. #12629
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    Apr 2002
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    Impossible to knowl--I use an iPhone
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    Quote Originally Posted by stalefish3169 View Post
    Gas here is slightly down, although that is probably mostly due to Uncle Joe emptying the strategic reserves at a historic rate.
    No, it's not. The 2022 release from the SPR accounted for a drop in prices of about a dime to a quarter per gallon of gasoline...in 2022. 26M more barrels were released in February of this year, and we're now waiting to purchase oil (no further releases from the SPR). Supposed to buy 3M barrels soon, but the timeline is (probably deliberately) unclear. You want to explain oil prices? Look at OPEC and forget about whatever happened last year with the SPR (FWIW, during the first 50M barrel release gas prices went up about $.50/gallon). I understand why you want to speculate and misrepresent facts, but it's ultimately not helpful.

    Was going to just leave it at that, but in your very next sentence...

    Food here is where I am feeling inflation the most; empirically I'd say it's running 20-30% YOY.
    Empirically I'd say what you're 'feeling' doesn't much matter. YOY for April food inflation was about 8%, forecast is for 4-8% this year, which should be right if things continue as they have been.
    [quote][//quote]

  5. #12630
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    Also, most current inflation is being driven by profit motives and as industries are much more consolidated there's no one to price war them out of it.

  6. #12631
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    Gary sues Coinbase. BTC +5%. LMAO

  7. #12632
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    Jun 2020
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    Quote Originally Posted by stalefish3169 View Post
    Gary sues Coinbase. BTC +5%. LMAO
    Flight to ‘safety’.

  8. #12633
    Join Date
    Dec 2005
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    11,146

    Bitcoin....who's gotten into it?

    Quote Originally Posted by stalefish3169 View Post
    What kind of moves are the people who said BTC was dead when it was 3K in December 2018 pulling?

    Or how about Bunion who said BTC wouldn't exist in 5 years? It's been about 2 so far and it seems to be hanging in there.
    Maybe I’ll tell my wife the high price of the Apple headset and use that to justify the purchase of new bike for myself. I love this logic 3.0!

  9. #12634
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    Cloud City
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    Quote Originally Posted by stalefish3169 View Post
    Gary sues Coinbase. BTC +5%. LMAO
    Looks like an upside down bart, such a joke. But the trend has been down since April and I'm wondering how low we can go.
    Live each season as it passes; breathe the air, drink the drink, taste the fruit, and resign yourself to the influences of each.
    Henry David Thoreau

  10. #12635
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    Thanks for the "protection", Gary.

    Sent from my Pixel 6 Pro using Tapatalk

  11. #12636
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    Mar 2006
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    19,814
    Been a while since a weekend hit job. Long term chart is not great

  12. #12637
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    Dec 2004
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    Where the sheets have no stains
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    Quote Originally Posted by stalefish3169 View Post
    What kind of moves are the people who said BTC was dead when it was 3K in December 2018 pulling?

    Or how about Bunion who said BTC wouldn't exist in 5 years? It's been about 2 so far and it seems to be hanging in there.
    Easy cowboy, that was posted 6/23/2021 or < 2 years ago. That idle comment really irritated you, didn't it?
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

    "Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"

  13. #12638
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    Quote Originally Posted by Bunion 2020 View Post
    Easy cowboy, that was posted 6/23/2021 or < 2 years ago. That idle comment really irritated you, didn't it?
    We'll see if you're right in 3 more years.

    Sent from my Pixel 6 Pro using Tapatalk

  14. #12639
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    Where the sheets have no stains
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    Yes we will. One difference is.... you care. 6/24/2026, its a date.

    Hope you are doing well.
    I have been in this State for 30 years and I am willing to admit that I am part of the problem.

    "Happiest years of my life were earning < $8.00 and hour, collecting unemployment every spring and fall, no car, no debt and no responsibilities. 1984-1990 Park City UT"

  15. #12640
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    People who don't care sure spend a lot of time in this thread.

    Hope you're well too and the shoulder isn't keeping you from enjoying a proper summer.

    Sent from my Pixel 6 Pro using Tapatalk

  16. #12641
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    Dec 2007
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    The Things that Amuse You thread is rarely as amusing as this one

  17. #12642
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    Jun 2020
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    Hey, so goods inflation was transitory:

    Name:  F8D7FA10-5144-47D1-9DEE-A47D0493DA8A.png
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    Services inflation appears to have been transitory:

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    And shelter seems to be turning the corner:

    Name:  F4B664F0-EAAB-4F71-869C-D0B2A710B3D1.png
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    https://www.calculatedriskblog.com/2...vices.html?m=1

    So since the Fed seems to have inflation under control, no need for Bitcoin, right?

  18. #12643
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    Jun 2020
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    Oh yeah, and headline inflation is 1.5%, but I was assured it was crazy talk to think it would be below 3% by end of year…

    Attachment 461822

    https://jabberwocking.com/cpi-down-in-may-sort-of/

    Edit: For clarity - prices are up 4% over the past 12 months, but inflation is currently running 1.5%. Every reason to expect that as the older data drops out and new data comes in, we’ll be at/below 3% year-over-year price increases by the end of 2023.

  19. #12644
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    Probably nothing.

    https://twitter.com/DeItaone/status/..._7dkW_sTQ&s=19

    Sent from my Pixel 6 Pro using Tapatalk

  20. #12645
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    Quote Originally Posted by stalefish3169 View Post
    Probably nothing.
    QFT

  21. #12646
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    Quote Originally Posted by J. Barron DeJong View Post
    Oh yeah, and headline inflation is 1.5%, but I was assured it was crazy talk to think it would be below 3% by end of year…

    Attachment 461822

    https://jabberwocking.com/cpi-down-in-may-sort-of/

    Edit: For clarity - prices are up 4% over the past 12 months, but inflation is currently running 1.5%. Every reason to expect that as the older data drops out and new data comes in, we’ll be at/below 3% year-over-year price increases by the end of 2023.
    Yeah two ways to look at the inflation data: 1) Glass half-empty 3 and 6 month core inflation are the same and there are only a few months left to clock year-over-year declines 2) Glass half-full, there is a path to a lower level of inflation as goods normalize and housing/rent follow suit.

  22. #12647
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    Quote Originally Posted by MultiVerse View Post
    Yeah two ways to look at the inflation data: 1) Glass half-empty 3 and 6 month core inflation are the same and there are only a few months left to clock year-over-year declines 2) Glass half-full, there is a path to a lower level of inflation as goods normalize and housing/rent follow suit.
    Sounds like I may not be the only one who follows Mike Konczal.

    Housing deflation is pretty much baked in at this point:

    Click image for larger version. 

Name:	83390D94-6AEC-4E9F-886E-06E52F513212.jpeg 
Views:	44 
Size:	626.0 KB 
ID:	461857

    https://twitter.com/markzandi/status...sR_NcRK2VkCfkg

    The data series used for shelter costs in official CPI has a long lag (something like 6 months I believe), but more real-time data series have been showing declines, which will be reflected in official CPI in the coming months.

  23. #12648
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    The trend is our friend and the stock market certainly agrees. One way to think about inflation however is that it behaves like ketchup flowing out of a bottle. Month-to-month is at ~2% but month-to-month is also more volatile. While the Fed might pause, I don't think the Fed is ready to start loosening yet. We can say inflation is being conquered. We can't yet say inflation is conquered.

    In the context of bitcoin narratives, BTC has always responded to liquidity. It's a risk-off, not a risk-on, asset so despite what we are told in this thread inflation, interest rate hikes and tightening are bad for crypto prices.

  24. #12649
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    Terrific self-own by the US Feds.

    https://news.bitcoin.com/hong-kong-w...lawmaker-says/

    Also, Black Rock to file for BTC ETF. RIP cucks that sold their BTC to Black Rock.

    https://www.coindesk.com/business/20...in-etf-source/

    Sent from my Pixel 6 Pro using Tapatalk

  25. #12650
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    Jan 2008
    Posts
    10,102
    BTC ripping on the news?

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