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Comment by ceocoder | Hacker News Reader

As my financial advisor from firm of WSB likes to say, “J Pow make money printer go brrrrrr”.

Honestly none of this makes any sense, record unemployment, skyrocketing covid cases, people trapped at home shopping groceries online. Yet $TSLA is at 1400, and to quote my advisor “is going to the moooon”.

Sigh.

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It's all in interest rates. Far-future speculative cash flows become worth more when interest rates are slashed, and the fed's response to the whole coranavirus situation is to cut interest rates to zero.

Or maybe $1400 just isn't worth anywhere near as much as it was a year ago

It kind of makes sense, $2 trillion of the stimulus wound up in commercial banks' deposit slips because people who didn't lose their jobs had nowhere to spend it. It's not surprising to me that people saw the markets tank, remembered '08, and thought "let me put my dollars to work a little bit more."

Now Robinhood rolled out fractional shares and anyone can invest in anything. Chaos, in aggregate.

Or maybe bitcoin was never worth $17,000. Speculation is speculation. Stocks like tesla have such a retail following that they are no longer grounded in any fiscal reality. To properly invest in these stocks, one needs to find a financial advisor specializing in reading tea leaves.

Since it was 1,000 USD or so and was raising quickly in early 2017, I thought a good price for 1 BTC was a solid 10k USD. Happy with more, but w/ its current usage and interest, it seems to be the #

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