Where's the "occupy movement"? Where's the "CHAZ/CHOP" of 2023? What about "hope"? Are netizens signing up for exorbitantly expensive new services on a widespread basis?
If individuals aren't being "excessively enriched" by conditions it's unlikely to become another spectacular market wide blow-up.
Social causes are a proxy for froth. A short Friday memo probably isn't.
Exuberance is in the hands of price gougers right now, and even that's mostly confined to California,... and eggs.
Sure we're back to "grocery delivery" (which marked the height of the .com bubble) but it's the biggest players involved, the technology is practically free these days, and the immunocompromised benefit!
Crypto is diffuse and not very many people. Fewer than 2M bitcoin wallets contain $28K, a median family's worth of savings / 4 checking accounts.
That's not even a whole city's worth of people "demonstrating", and it's a global thing. It's a quarter of the speculative value of AAPL.
It's also concurrent and passive. Very few people have dropped everything to do the crypto influencer dance, and now influencer+crypto is seeing SEC crackdowns.
Crypto is at most slacktivism right now. Nothing like BLM, MAGA, which are no doubt viewed by powerful economic planners as wasteful.
If individuals aren't being "excessively enriched" by conditions it's unlikely to become another spectacular market wide blow-up.
Social causes are a proxy for froth. A short Friday memo probably isn't.
Exuberance is in the hands of price gougers right now, and even that's mostly confined to California,... and eggs.
Sure we're back to "grocery delivery" (which marked the height of the .com bubble) but it's the biggest players involved, the technology is practically free these days, and the immunocompromised benefit!