Asia FX news wrap: Evergrande kicks off 2022 with more problems

[alvy]

That#39s why the government will rather off you that let you have to much influence

[Amo]

Just goes to show you. You can graduate from Ivy League schools, work for big tech, create something big... and still be a f*ck up in the end.

[mick]

Damn all those old people will never try to understand crypto. Need to pass term limits to keep old people out and fresh minds in.

[hah]

They're talking about run-of-the-mill inflation driven by wage-price spirals, and saying that's how you get an inflationary spiral. In my mind, that's not the only way. We have a fiat currency and it's value is really derived from people's faith in it's value. You can print money and encourage borrowing etc, but much like stock market bubbles, there is a tipping point in there when all the feedbacks turn from negative to positive.  Normally, you hold money, it holds it's value, there's no real push to gain or spend it. If you think inflation is going to increase, it now becomes a hot potato that you want to spend as soon as you get it. You do this by buying useful assets like houses, land, food, things you need. When everyone does this it drives up the price, which would normally dampen demand, but if the expectation that money will continue losing value and the price will only increase, then the price doesn't matter anymore. Sellers can ask arbitrarily high prices. But who's going to sell into this and accept that money? Thus supply goes down at the same time demand goes up, further exacerbating the situation.  The government has been pumping new money into the economy to try and stimulate it, yet velocity stays low. Who needs to spend all that money under normal circumstances? But what happens when it all starts losing value? All that "cold" money suddenly turns hot, and the *effective* money supply suddenly increases. Meanwhile, everyone is also incentivized to borrow as much as possible to "short" the currency, further increasing the supply. But who wants to lend into this? The credit market slows, and the government steps in as "lender of last resort" again....using printed money.  Meanwhile, the massive amounts of money tied up in the stock market suddenly need a new home. I mean, who wants to hold a stock when all you can get out of it is increasingly worthless money. You paper gains are impressive, but it's only a reflection of the fact your asset is losing value, because the only value it has is denominated in dollars (rather than any kind of tangible use).  I mean it goes on and on. Wage-price spirals may be a part of 'normal' inflation but they don't really play into hyperinflation.

[dopp]

Buy buy Bitcoin

[ch_i]

Fix the rules at the ports. Get military personnel trained to drive trucks to the ports.

[Aar]

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[kjp]

Keep dropping! I keep buying! F U Hedgies! The time has come for the poor to be rich!

[Tif]

All cryptos are scams

[velo]

the stable coin of iron finance was not algorithmic but overcollateralized...just saying...it lost peg at one point but re-pegged quickly

[yuan]

brM             

[huey]

lol

[darg]

He didn't do it alone. He was backed up by the greed of millions of others.

[Abby]

The biggest problem I see ,most of us have relied on the good old government.Just what they want. Slavespeople growing their own food are way ahead of the curve. What do we expect..wa wa wa

[docq]

F* No