Cryptocurrency is the greatest mid allocation of capital in human history

[Anonymous No.49561911]

“Cryptocurrency” and “web development” are the greatest misallocations of capital in human history.

Since 2008, asset market have been inflated as a direct consequence of the federal reserves policy of maintaining extremely low interest rates and “quantitative easing”, the purchasing of securities so as to maintain low interest rates.

Credit has been cheap and plentiful, investors took on credit and went out in search of returns. Two particular industries have exploded since these policies were put in place: “tech” (building software and web applications) and “cryptocurrency”. Both were favorited by investors because of their ability to produce enormous returns for very little or no startup costs. Cryptocurrency in particular has no tangible product, no time saving devices, no efficiency gains over existing financial products. Investors flocked to these products like flies on shit, crowding out all other investment opportunities. The net result, after 12 years of this policy, has been the greatest mid allocation of capital in human history, with many of the world’s most intelligent young people pursuing “coding” and other forms of software development, with many white collar workers in other fields (mechanical engineering, electrical engineering, medical school) abandoning their jobs to seek higher paying salaries.

Now that the policy is reversed, the house of cards will crumble, all of the paper wealth destroyed, and people will begin to notice that no advancement in their standards of living has been made despite the enormous growth in equity markets due to the majority of this growth being in web applications and other things that have no direct effect on their material conditions. Underinvestment and brain drain in the energy sector will soon become evident, with soaring fuel prices and inability to afford the cost of heating and cooling your own home.

[Anonymous No.49562045]

>>49561911
I couldn't learn coding: The post