If you want to know what to do about all this, you should Click to follow Alucard on Twitter. If you just want to shoot the shit about it, well, here are some useless thoughts.
If $90 trillion in "wealth" can get wiped out by the stock market, then it wasn't really wealth, now was it? We all know the entire world runs on credit and leverage. So all of that wealth is just paper and computer accounts. When people actually have to start paying back money, then you see that wealth was really just a loan or badly placed investment capital posing as a legitimate investment.
Bottom line: You don't make money until you freaking sell. And while you're not selling, your securities are only really worth what you can borrow against them. This is usually 50-65% of the book value of the asset.
Netflix and Apple are both feeling the heat.
As the Fed tightens the world's money supply precisely when the world needs dollars the most, all the extras are getting cut out of western home budgets. People are finally starting to see that the yearly Apple phone updates really aren't worth it. The only reason Apple gets those sales really is the planned obsolescence of the iPhone, forcing people to upgrade or lose functionality. (It's true. They lost lawsuits — plural — about it.)
Netflix is the luxury that actually might be worth keeping, but people are too fuckin ghetto to have nice things. The company claims to lose tens of millions each year in stolen accounts. As such, it must raise its prices and clamp down on cheaters precisely when people are running out of money, and folks are being forced to cut the cord. Depending on who you listen to, Netflix is facing a 25-40% reduction in its subscriber base in the next year or so.
In the meantime, a few lucky stiffs who were early on bitcoin are yelling and screaming to themselves about people not being smart enough to switch over to a bitcoin standard or something. No, idiots, it's just no one has enough money to buy enough BTC to make a damn difference right now. If you have 2-3 BTC, that's not life changing money in the middle of a recession. You need 50-100. Just because you got those 50 @ $1 because you were in on the gag before anybody else doesn't mean you were smart. Just means you were connected with the right in-crowd. The jocks had it for like 150 years. It was just time for the computer nerds to win — you're not any smarter or better than anybody else.
Anyway. Fucking idiots just stop complaining. I'm sitting here trying to learn Solidity code. If you want to know true frustration, try dealing with that pile of shit.
Honestly, you should start pushing edits to my Github seeing as you don't have Netflix or a new iPhone to distract you anymore. I need the fuckin help. God FUCKit, this shit is retarded. FUCK! I'm not giving up, though. Fuck you.
