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Comment by JohnJamesRambo | Hacker News Reader

It’s just more top signals. There’s too much money floating around if people want to invest in nonsense like this. When equities correct from the current Shiller PE ratio higher than 1929 I think you will find less people want to invest in a career token for someone.

https://www.multpl.com/shiller-pe

The Bowie Bond part of the post was fascinating by the way. Had never heard that story. He issued them in 1997 which is a high Shiller PE value also before the 2000 stock bust. Lots of money floating around looking for a home then too.

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>When equities correct from the current Shiller PE ratio higher than 1929 I think you will find less people want to invest in a career token for someone.

The government is actively preventing a correction by minting new dollars at unprecedented rates [0]. In this environment, the Shiller P/E doesn't make sense anymore.

The pressure in the society is building up and it's gonna eventually blow up, but it will follow some completely unexpected path because the usual safety valve has been welded shut.

[0] https://tradingeconomics.com/united-states/money-supply-m0

I totally agree. We are already past where a correction should have occurred. They are just delaying and making the inevitable crash more violent with money printing. Like a volcano that hasn’t erupted for a long time.

I agree that there's a ton of money floating around / frothiness, but what's inherently wrong or ill-advised about investing in future cashflows of a person. Assuming you diversify across a bunch of people in a bunch of fields, this actually sounds better than some of the stuff people are investing in in the stock market.

Because having a share in an individual sounds very much like slavery?

So does usury.

You loan someone $40000 @ 5% APR and he spends it on education. If the loan is to be paid back in a decade, he has to cough up $416 per month. Unlike a mortgage, he can't foreclose on his education.

Since he doesn't have any assets to sell, and is by law unable to get out of them through bankruptcy, his only choice is to work some amount of hours every month to pay off the loans.

If that is not slavery, then surely ISAs are fine too? And if that is slavery, then how are ISAs any worse?

Small nitpick, if you're diligent with the paperwork and aren't a victim of some of the recent loan servicing scandals then the (federal) loan will eventually be forgiven so long as you pay a percentage of your income (which can be as low as $0). Functionally student loans are a lot like a typical ISA with a longer period (and comparable max total payments) which can't be discharged.

but it's not like slavery because you can quit at any time. Outside of blockchain contracts should be considered 'Slavery' because an 18 year old can take out a loan that ruins his whole life because he is forced to pay back the loans by some outside entity. Investing in an individual via the blockchain makes it so you are investing because you believe in the individual, but at any time the individual can simply stop working, stop earning and enjoy a simple life without any repercussions. This makes the investment more risky for sure, but stops it from being slavery because a.) the individuals don't have to be worried about some gun forcing them to do something b.) i can sell my tokens at any time.

>There’s too much money floating around if people want to invest in nonsense like this.

Alex had his human IPO shortly after the march 2020 crash

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