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Originally Posted by MooseDog
Short answer to Leon... not directly. However the easy money is somewhat related as I do believe that the stock market is more likely tied to the rise in card prices. There are an awful lot of people in the US that make far, far more money and have far greater assets than they or their families will EVER be able to spend. Nobody NEEDS $1B, let alone hundreds of millions. At some point it's just a way to keep score and the whole concept of money as reality goes away.
Some with unlimited resources just want stuff and will outbid anyone else...well, because they can. And it only takes two to tango in an auction.
Imagine if Elon Musk and Jeff Bezos decided they wanted a certain high-end marquee card!
I also believe there is a certain level of "pump and dump" action going on.
My 2 cents.
FWIW I'm in the bottom 50% statistically, and got both stimulus payments of which 100% went to pay bills.
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In my opinion this is 100pct accurate. It's not individuals getting stimulus checks, it's the new super wealthy that have significantly increased in number as a result of crypto price surge, the proliferation of spac issuance that instantly enriches the sponsor, real estate strength, etc. They are buying immense quantities of hard assets from the extremely rare to the limited quantity luxury items. Stories of individuals buying a ferrari dealership out of their entire inventory, super yacht shortages, low if non existent waterfront properties in prime locations. This will result in hyper inflation and will filter down into what was previously thought of as things that were considered available though somewhat limited in quantity to those making a decent living but were not wealthy. Things as simple as say lobsters (dont laugh), or BMWs, relatively fine wine etc. It is all going to be bought up.