Quote:
Originally Posted by Peter_Spaeth
Bitcoin has come partway back to earth. You're right, but you could have put together a sky is falling scenario in 2010 too. How many people thought it was insane when AMZN hit 500?
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The US is $22 Trillion in debt and running $1T deficits at the tail end of one of the longest economic expansions on record. Cost to service that debt is already $500B+ a year, almost bigger than Medicare and the military. Consumers have more debt today than they did in 2006-7 before the collapse. A lot of it is unsecured debt for things like subprime autos and discretionary items.
Everyone binged on debt while rates were near zero.
Just keep that in mind.