Market Bubbles: How Many Boats are We On?

[biglentil]

Speaking of market bubbles and boats. . . .

Oakland A's baseball team wanting to sell their $64,000 U.S. luxury suites this season and now willing to take Bitcoin.


Let's see? . . . that would take 1 Bitcoin plus about 7 oz of gold and then you would get back about 16 oz of silver for change.

Bitcoin is divisible to 8 decimal points. 2 ounces of Rhodium and 3 ounces of Palladium would also do it.

[beaverdam]

Is there an economist out there, who is using the 1970/1980's basket and formula to calculate inflation, today? Is it even possible to do, considering all the different items being used in our life and in society today? Lumber, gasoline, groceries, yes,,, but how do you compare cell phone, internet, computers, that didn't exist back then.

[biglentil]

Is there an economist out there, who is using the 1970/1980's basket and formula to calculate inflation, today? Is it even possible to do, considering all the different items being used in our life and in society today? Lumber, gasoline, groceries, yes,,, but how do you compare cell phone, internet, computers, that didn't exist back then.

John Williams of shadowstats.com does a wonderful job.

[sumdumguy]

Nobody tell Acheforacres that there’s a Scottish island for sale. SF3 - you never heard that😂

[errolanderson]

Broad-based selloff in global commodities in-progress. King of commodities; crude oil hammered today.

Cattle board / grains under heavy selling . . . . Equity clock is ticking (IMO).

Iron ore now coming under pressure. Commodity indexes generally appear vulnerable to incoming global economic downturn.

[Old Cowzilla]

Was at a steel shop this week and told the reason steel prices are through the roof is because big auto is stock piling for months in advance therefore making unusual shortages. Why are they panic buying if the market is going to crash ? And guess what the price of new auto's will have to do to pay for that higher steel value. If everybody backs away from this steel and lumber market for a few months which I think some folks are going too things will cool down.

[bucket]

Was at a steel shop this week and told the reason steel prices are through the roof is because big auto is stock piling for months in advance therefore making unusual shortages. Why are they panic buying if the market is going to crash ? And guess what the price of new auto's will have to do to pay for that higher steel value. If everybody backs away from this steel and lumber market for a few months which I think some folks are going too things will cool down.

People spending their government cheques on renovations ...Is that what is driving the lumber market up?

[Old Cowzilla]

I hear a few people say screw it we won't build a deck this year buy a lawn chair and sit under a shady tree and drink beer. Lumber yards are gonna get stuck with some high priced inventory out of this, OSB $35 compared to $10 two years ago people are waking up.

[jazz]

The economy is teetering on a pin right now. If the virus is not beaten in the next few months she will be toast.

20 US states are monitoring rising cases again and this with a population that is approaching 30% vaccinated.

https://www.cnbc.com/2021/03/22/covid-new-jersey-likely-to-pause-reopening-plans-as-cases-rise-governor-says.html

[errolanderson]

One-by-one, commodities now dropping . . . .

King of commodities 'crude oil' down sharply off $10 per barrel from recent highs . . . . Europe lockdown contributing more selling. Precious metals stumbling at-best. Cattle struggling. Copper off. Global wheat prices easing. Nat gas market again dead.

Container shipping rates remain in steady climb. Consumers ordering from China from home. Container shortage and floating ship parking lots awaiting delayed unloads. Containers all made unfortunately in China. Definitely, ocean freight inflation as a result of buyer online demand.

But for the banks, go ahead, hike those rates. Should be no problem will all your inflation talk . . . then let the defaults begin . . . .

[furrowtickler]

It’s too bad the costs for everything related to Ag are skyrocketing at the same time , no phos left , glyphosate is in short supply , fuel going through the roof.
So this bubble is bursting yet retail still going through the roof , what’s really going on ? You hear pent up demand , slow down in manufacturing, and all kinds of excuses.
Something definitely out of whack .
‘Tis a strange year already

[jazz]

This blip in prices is more likely supply chain related than inflationary.

errol is probably watching gold which is falling in price and historically thats deflationary.