It’s exceptionally irrational at the moment. Everyone is not just gambling on an irrational self-valuation of the bet, they’re seeing each other’s bets, and that is adding an extra level of FOMO irrationality, increasing the bets even further.
With Trump’s acts of economic self-mutilation already weakening the economy, this is going to be a wild ride when the bubble pops.
I’m so glad that the US economy is based on moving money around between vast dragon hoards instead of making actually useful stuff that improves everyone’s daily life.
It’s exceptionally irrational at the moment. Everyone is not just gambling on an irrational self-valuation of the bet, they’re seeing each other’s bets, and that is adding an extra level of FOMO irrationality, increasing the bets even further.
With Trump’s acts of economic self-mutilation already weakening the economy, this is going to be a wild ride when the bubble pops.
I’m so glad that the US economy is based on moving money around between vast dragon hoards instead of making actually useful stuff that improves everyone’s daily life.