Video: 5,000 year bond bubble

The arrogance of the dudebros on their little forums is extraordinary.

>5,000-year high
>tHiS tImE iS dIffErEnt

And they’ll still cry to the rest of us that they weren’t warned and we owe their third wife a bailout to keep her in shitty Hermes horsies.

Seriously, look up some Youtube videos on those things. It’s obscene.

History books will call the 20th the Century of Socialism, where mass hysteria was caused by a fervent atheist belief in the sanctity of retirement with no kids, a new model of polite slavery, of other peoples’.

S&P bubble brain

Just buy the S&P bro! It’s easy, bro! DUDE it’s free money.
This is what happens when idiots sing from the same hymn sheet.

The Future of Money and How to Use It

Marvel at this stupidity:
Is your steak dinner with your girlfriend worth a full share of the S&P 500? Do you have 100 shares of S&P 500 in your checking account? 1,000 shares? 10,000 shares? Does this make sense if you know the amount of dollars printed is only going to go up? So on and so forth.”

live on ramen in a shack to buy S&P, bro!

what could possibly go wrong?
and of all the things to buy, all-time high, high-risk and public (i.e. dumb money) equity?
Not even land or anything productive.
Don’t trust banks? Trust CEOs!
Tell Enron.

“These are very big questions.”
buy the dip bro is hardly deep advice, it’s shallow as a kiddy pool
“Even if you want to be conservative,”
every damn day

“instead of saying “I need 2 years of cash in my hand” ask yourself “how many of my investments are already up 100%, 200% or even 300%?”
Bubble brain. Normalcy bias.

Therefore, even if you needed to sell some of them for cash to pay for something, you’d unlikely lock in a loss.”

muh stocks only go up

Ok Boomer. Actually, that’s not fair, Boomers remember ’29.

This guy reads like pure Millennial, thinking the banks actually fixed everything in ’08.

These rationalizations show dumb people can earn lots of money. The low IQ can have high income but only temporarily.

“This will prevent you from being one of those strange people who have 5-10 years of cash earning 0% for long periods of time. “
To buy the crash, idjit.
Strange like prepping for martial law and riots strange?
Yeah, those CRAZIES.
How long did the Great Depression last, again?

“With the knowledge that money printing will occur no matter what,”
wrong

“every single cent after this needs to go straight into productive assets. Doesn’t matter what it is, anything that generates returns above 0% is good enough
men can astound me with their stupidity

buy anything bro, anything really
-If you knew the returns, you’d be running the company?

“Well bonds are at nearly zero, interest on savings accounts are zero and more money is being printed! So this means if the money supply goes up by more than 1% or so, you’re losing money on that bond “investment” (Ie. your purchasing power went down).”
base money is not broad money
only if it enters broad money, idjit
which historically, it never did

NEVAAAAAAA* (in America, but they tried multiple times)
instead it inflated asset bubbles, especially…… STOCK

congratulations, you’re doing what the Fed expects you to do

cuntmuffins, absolute corporate CEO cockgobblers

*that’s why they want UBI, fed coin, direct gibs, like IV drug use straight to broad money (the People) skipping over base (banks)

fucking DUUUUUUUUH

but buy stawks bro

“For fun we’ll stick with the above being correct. All we need to agree on is that the government is going to be forced to print.”
investors who don’t understand finance, huh?
banks forced to print, private entities seeking to escape deflation to keep extending lines of credit and paying negative interest in effect (stated inflation v actual spending and purchasing power)
bloody hell, how do you NOT know this? I’m in my twenties still wtf I’m barely trying and never shilled an e-book my entire life

“If we can agree on that, it means that the next 4 years will see more inequality. The rich will get richer and the poor will get poorer either though inflation or through lack of asset ownership.”
Parroting Marxist theory, STFU.
The rich don’t get richer, the nominal value of money goes up because the fiat currency goes DOWN (devaluation)
The poor don’t get poorer, their wages stagnate and they get fired for foreign labour or so their employer can plead poverty. The poor still have flat screen TVs and too much house, calm down Dorothy. When most Americans are skinny, maybe.

Also, assets? At this, a time of record corporate debt?
Who’s holding the bag, Barney?

Remember: ITS OK TO CRY.

“Even if prices stay the same (for all goods) if the cost of assets (homes, education, etc.) all go up… the only winners are the rich.”
Buying at all-time high prices, a liability on credit is a ‘win’? Locked in for maybe 30 YEARS?
A WIN? Really?
Because nothing can change personally or financially in three decades?
My God, the old geezers were right, we DO need a good war. Cull the feeble-minded, at least.

“With the main point out of the way, we can then move to secondary effects… which is that people will not be happy about it.”
Brilliant, Jenkins!
“The average person is not going to be okay with a massively increasing divide between the rich and poor.”
Paper valuations are not real money.
Repeat after me.
Paper valuations are not real money.

Bezos doesn’t have billions in cash sitting in a bank vault.
This is not a Robin Hood cartoon.

More likely, they’ll vote for higher taxes when they’re already going to need to pay for their own ‘stimulus’ check money with those already. This will be on the employer, who will fire people and be blamed for paying less in wages, fewer promotions etc.

“There are two ways to transfer that wealth through 1) taxation or 2) through a wealth transfer. Since wealth transfers are rarely seen as successful, an increase in taxes is more likely.”
sweet sweet summer child
let me tell you about this one time, in Cyprus….
or the many times ‘brokers’ have had mysterious ‘crashes’ only when their AIs sensed too many auto-sells by the proles

“Our best guess at this point would be an increase in property taxes since it is the most difficult to avoid.”
Regulation increases house prices. No new builds, no increase supply, prices go up. Prices go up, people won’t move. Immigration means people remain in ‘safe’ areas, ever-rarer. Prices go up more. Moral of the story: estate agents are traitorous scum.
CA wants 10 year backdated tax, right? You can never leave.
And the morons with a crypto wallet think they’ll be allowed to leave the country. What is your passport? Draft card.
If they’re smarter, and Marxists can be devious, they’ll tax entire professions e.g. Wall St. Suck it up, buttercup.
or they’ll tax by operation e.g. cashing out trades, state tax.
Banning cash would land-lock us from leaving the country, no valid suitcase full of money. No crypto either. Metal detectors aren’t really there for weapons. Why scan your hands?

“Other ideas include: 1) a change in tax on dividend income,”
No they’d go full portfolio over key amounts, silly. It’s an asset right? Why slaughter the little piggy when the fat big one is right there? And then it doesn’t matter where you move it. Where will you go? China?!!

Think of a massive remittance tax too. No leaving the country. I’d support that one, keep monies nationally. Don’t let immigrants fleece us. It punishes r only.

“2) a change in tax on stock issuance and 3) a change in tax on income.”
That will need to go down to incentivise people to work, was already too high. They need new businesses, a risk.

Generally speaking, the issue going forward won’t be an income issue.”
That is the most retarded thing I have heard all year.

People are dying, Kim! People are homeless!

“It will be an asset issue.”
Blow your bubble.

“This means that you have to find a way to tax people with a lot of wealth not people who are earning a lot of income.”
Portfolio, prick. Taxing institutions like Blackrock would be hugely popular.

“By way of example the person who is worth $10M today and makes $100K a year as a junior college professor is the person you have to tax, not the person who is worth $250K and earns $300K a year.”
{laughs in experience of Marxists}
Socialists are still Marxists, they’re brutal. They leave no money on the table and keep stealing.
Income encourages slave wages. Gov wants monetary velocity and GDP.
Dead money in a pension fund does nothing, expect a strong rinse.

“PS if you’ve got an answer to a divide in rich and poor based on assets we’d love to hear it.”
Extreme luxury tax too e.g. champagne at 99% tax.
Yachts and other shit normal people don’t need. That was the theory behind VAT.

“For now, it’s best to focus on the main items up front. Keeping your “value” out of cash and in items that will be used 3-4 years from now.”
Keep scurrying like you knew this would happen, man.
You can also predict 4 years into the future. Tell me, do you speak Mandarin Chinese?

“Be it high tech stocks or various scarce assets.”

tech
scarce
pick ONE
also, ‘high tech’? how is Netflix ‘high tech’? Piratebay has been streaming for years.
just buy FANG bro

“After a few years, we should see an increase in the proverbial divide “haves and have nots”.”
No there are people spending their money on stupid shit on the illusion their 401k is fine and people who know better buying shit they can actually use.
Two groups. Brava.

“At that point it would be wise to find ways to hold valuable assets that are difficult to tax (a good example would be rare art).”
of all the things you name, a tax ponzi for literal billionaires
like they couldn’t just change the law tomorrow?
I think a direct (maybe IRS) tax on Patreon funds will come in, by viewing it as income – because it is. Like a pre-screen income tax. Tax the hipsters drawing woke potato people, tax them ALL….

I guarantee a lot of these ‘writers’ and dudebro BTD (buy the dip) Youtubers will disappear when this comes crashing down. Nothing to say, nothing to repeat. They’re mentally empty and weak.

Teachers’ unions HATE THEM!

Need a piece of paper? You sure?

Moneyball your education.

http://www.openculture.com/free_certificate_courses

Delicious progress.

“You can’t put a price on a good education.”

You know, you were right….

Teachers will, by and large, go the way of horse-shoe makers and coachmen.

Protip: I know a lot of people who do these. Take 2 fun courses (they can be zany) for every 4 serious ones.

The first bubble

https://www.historic-uk.com/HistoryUK/HistoryofEngland/South-Sea-Bubble/

I’m exhausted by teaching what should be basic fact in a redpill world.

Not counting the dodgy foundation of the BOE once Cromwell invited the Jews back.

Because capitalism and fair dealing is impossible without usury.

The stick currency worked fine. Guess who has a statue outside Parliament?

https://infogalactic.com/info/Odious_debt

The real price of education

Love of learning.

https://www.class-central.com/report/moocs-started-completely-free-now/

“The fact that MOOCs were free sparked widespread interest in them. Students got excited because they were getting to learn from the best in the world for free (and that’s why I built Class Central to help me keep track of them.) The media got excited because they got to write clickbait titles about the death of universities.”

They are gone, at this point they’re pretty tax havens.
When you kick out the people who build/can run a place, its rep suffers. Who knew?

“But once the hype died down and MOOC providers tried to monetize, they found it difficult to do so without charging for content. Matt Walton, chief product officer at FutureLearn, said this about their recent pricing change: “Research we carried out showed that a certificate on its own doesn’t offer enough value for money and that some people don’t want or need a certificate.”

The good intentions disappeared once they realized how many people want to learn. So being liberal, they hid the data behind paywalls for rich kids. We need a pirate bay for MOOC data, kinda like the academic paper pirate bay.
Now doing a master’s online actually costs far more than an IRL one here.
This is bubble pricing. I oppose this.
It’s funny people knew they were getting ripped off once they saw the information though. So the response was to hide the information. Wikipedia flashbacks, ew.
Once this bubble pops, academia will be reviled. Lifelong debt! Ruin!

I’d still like to see PDF uploads from current students of all ongoing courses. Come on, rebel! Help a brother out with your powerpoints. They could make a new category on piratebay…. Call it “Fuck the system, end tuition?” DARE I DREAM.

If any of you shitlords actually do this, your videos should be .mkv format with .nfo attachments and photos in .png. Compress .exe files and .epub is openware for e-books.
For regular documents
https://help.libreoffice.org/Common/XML_File_Formats

Remember, it needs to be readable to people with computers 10+ years out of date (poor people). You should be able to fit most of the programs e.g. VLC player, on a thumb drive.

Yours lovingly, MrStark.

p.s. Certificates should only cost money for doggy daycare since they are adorable, aren’t they? p.p.s. Play the above at enhanced speed. I’m gifted at brutal takedowns and tunes.

Video: Why SJWs are doomed

Casual, at length opinions incoming. It’s like moneyball with the Zeitgeist.

glare glaring stare no stop please wtf drinking tea disapproval forever

There will always be people like SJWs with a wish to control/dominate others. You can’t kill that personality but we should, it should be ironed out in childhood. You’re jumping the gun, sunshine.

I think he’s leaning too hard on the prospect of a Total Collapse as an excuse for personal inaction. It is more likely to be a decades-long decline like Boiling the Frog. Lower living standards, higher prices and consumer debt until one day the gears jam and the whole thing explodes.

The University Bubble will be propped up by NGOs. Look at their sponsors. EU EU EU EU. Who want to start WW3 with our military, see the SJWs calling for a ‘Federal Europe’, a martial Empire with its own army.

On social media, people are blocking the SJWs. Even on tumblr with savior, more people are blocking ‘their’ keywords, than anything else. They’re mistagging to avoid this and openly calling for inhumane things, like deaths, slavery, disease spreading, sleeping with animals and children, while claiming moral high ground. Hence backlash. No control over others is ever enough, because we are seeing they simply don’t want the rest of us to ever be happy. They cannot stop themselves, so they will be stopped. Happiness infuriates them. The best thing we can do is self-improve and totally ignore them. They feel relevant and important as long as we feed them like a Gremlin of attention. A private conversation should still be censored to them, because they have magical thinking, inept social skills and believe certain words or ideas are like a magic spell that causes bad things to happen. They’re lunatics. These are the Witch Hunt people, except now they say “Fire the racist!” The ideology is an excuse to drag everyone else down. It’s like the divorcee feminists sad and alone, they will be punished socially but it’s going to be gradual and we cannot forgive them, they earned ostracization, the classic punishment for traitors. They’ll just worm their way back in if we go soft and try to ruin our lives again with a different set of ‘theories’. The ideology is a ruse. It’s a platform for their actions. They want power at any cost and will say anything to get it.

You can’t be betrayed by the outgroup. Accepting them and whatever defense they give will get you and yours attacked. High altruism coincides in nature with small tribes for a reason, you need to be genetically alike.

On the topic of education, perhaps mention the way social science kicks out genetic evidence? That’s going the way of the Dodo. There are two fronts, as he rightfully pointed out: the ‘science’ (raise standards, damn) and the culture. Culture is based on language and enforced by PC. Language spreads by comedy. As I’ve posted before, mockery is the best weapon. Not hollow *this is bad, OP is a fag* but *this is bad, this is why, and here’s what’s good*…Make it positive. Be the Solution.

I have asked around and I think there might be an SJW backlash against the Boomers when they realize they were bled dry to be filling the Boomer retirement coffer and wasting their own youth on being indoctrinated. I don’t know what form that backlash would take but I’d appreciate the thoughts of others. They might literally become Nazis going by the statism and urge to control. Death is the great equalizer. Certainly I think we’d outvote their ‘entitlements’ once it is made clear we won’t be in personal receipt of them. Property will crash, thankfully.

Most Millennials are only secretly against PC because hate speech was brought in as we came of age. Theoretically, we are timed as the Hero generation. I have faith we might be able to make something of this bloody shambles yet. We are self-reported higher levels of social conservatism (less promiscuity for example) so who knows? We pay lip service to the Left because they currently hold the power, including occupational:
http://www.theguardian.com/money/us-money-blog/2014/feb/06/millennials-conservative-cheap-wisest-generation

If we brought back the https://en.wikipedia.org/wiki/Scold%27s_bridle and used it on these secular preachers, the problem would solve itself. It’s a misconception that only women can be nags, as anyone who met a gamma male can tell you. Nagging is empty feeling forced on others like an emotional tampon, we all feel.

The PC machine is now the exact opposite of finishing school. They say impulse control is a myth.

Let them slip down in social status, it will increase social mobility for the working class. Pull up the poor and they’ll ride with you. The lower class has more grit and street smarts in their little finger than the average leftist coddled baby.

Tear off the veil: ‘social justice’ is middle class war against the lower classes and calling for ‘equality’ that oppresses the poor from challenging them but makes them feel good about themselves, with position intact and status boosted.

It’s all about class. Don’t let them dodge the issue.

We must hold them religiously to their own standards. Their standards are insane so this will end in disaster. Already they’re becoming the laughing stock and social leper for beliefs that in any other time would be called Satanic, as they tell us what is Good. Due to the low fertility rate, they must snatch the children of conservatives and convert them at school, why do you think so many are teachers? Take political topics out of state schools.

They want to get to preschoolers because you can’t unlearn Common Sense aka survival instincts. These are the people who wanted children to engage in ‘sex play’ in the 70s. They’re pedophiles. Children can read books on sex for themselves by the time they’re old enough to be curious and hormonally deserve to know, they don’t need stranger adults grooming them.

It will be interesting to see how PC caves under the rising number of terror attacks. No country for cucks and mudsharks.

Middle class parents will cut off their adult babies when they come to find their children refuse to breed. Think about it, they paid so much money into this person’s education and it would’ve been better if they spent none of it. The Gen X meltdown will be funny, especially as they dodge the Divorce Damage.

Poorer children than their parents pre-dates the Industrial Revolution when the agricultural success of an area determined a family’s prosperity and Communist belief systems caused the modern poverty. Marx is a mass murderer. e.g. Sure, give those jobs to people in another country – where are the jobs? Pay workers in Asia a living wage – why is everything so expensive? There is a winner and a loser and they made us the losers. The future economy won’t be based on race, sex or nationality but IQ. It will be IQ apartheid. The low IQ will revolt and possibly riot in the streets because they want the high IQ’s stuff. It’s ‘equal’. You see this already with disputes over Intellectual Property, as ironically writers who rely on the IP of copyright demand IP for fun technology be scrapped because they don’t want their iPhone to be so expensive. It fails to connect that there won’t be any technology without R&D and patents are mere registrations of the labour already committed. If they can’t protect themselves, they won’t trade. No iPhones for anyone. There is no such thing as a free iPhone. You have to pay the workers, you feudal shitlord. Apple workers aren’t your slaves.

NRX needs memes. That’s how the manosphere does it.

We need more positive role models. Simple stuff: how to walk, how to speak, how to dress with class, how to balance your accounts, how to start a family on a small budget, how to raise children without fear, to be antifragile against propaganda. Books went downhill when Queen Victoria died.

I disagree entirely about 2100. I’d be surprised if this lasts until 2025. The economy certainly can’t (look at interest rates) and he forgets the salient fact: the outgroup is dependent on our bread. When the freebies stop they will fight or leave. They refuse to feed themselves. When the EBT is denied, what then? It takes but a few weeks to starve.

I enjoy warning SJWs with the full redpill truth and watching them walk stridently head first into reality. Who says reverse psychology doesn’t work? They’re like little lemmings, and this is before any harshness sets in. Consider the medical conditions of an apocalypse: They’ll be pozzed by corpse juice contaminating the urban water supply and if they fall pregnant by foreign gang rape for being unchaperoned they’ll still be apologizing for their white-passing privilege as they kneel before the sword. Delusional people belong in an asylum because the asylum protects them. I don’t worry about the SJWs, leave them to it, maybe sit back and crack open a drink to watch the chaos. Children must learn consequences. We should focus our efforts on the good people who wanna get along (including hard-working foreigners) because with low time pref we must consider the rebuilding effort once their Tower collapses.

sarcasm scott I'm fine okay good great lol happy

OT rant not about MW but I’m putting this here since why not:

I dunno what it is about Youtubers lately but they all seem to be half-arsing it with circlejerk two hour plus podcasts of griping about how we ‘must do something’ as if I care anymore for their futile whining than a basic bitch at Starbucks complaining about her latte but this is one of the few newer videos that isn’t like that.

If I have a pretty firm idea of your opinion on the topic of How We’re All Doomed before I click, why would I listen to it unscripted unedited and filthy casual for hours and hours and hours of ‘content’? It strikes me as very Elliot Rodgers narcissism. Elevating the speakers over the topic. Podcasts are so Noughties anyway, why bother with Youtube if you won’t use the visual component? Would it kill you to include some graphics? Heck, even funny cat pictures!

Bitching over the internet isn’t doing something and you’re all acting like women without the excuse of being one. Bitching about masculinity is so deeply meta I dunno what to say. Claiming women stole it is like the black people who support melanin theory saying whitey stole their magic powers. We didn’t steal your mojo, you refuse to grow some.

Recently it’s What do we do about Europe? 

*twiddles thumbs* *focuses on tedious tumblr shit*

Well, you’re the men and you believe in gender roles and Patriarchy so you fight. That’s what you’re supposed to do. We have civilization and culture. You like it? You fight for it. That’s what your ancestors have been doing since forever and the only reason we’re all still here. If you really had low time pref and gave a damn about the future like you claim you wouldn’t be sitting on your arse knowing full well what’s going on (unlike bluepills, who have an excuse) and asking someone else (a parental figure) to come in and tidy up your mess. You’re adults, you fix your own shit.

Oh wait, you’re too yellow to defend what you claim to believe in. I guess cowering indoors is the Well ‘Ard response of an alpha male. Laugh at the Taharrush game because only feminists are being attacked, right? Don’t even start on the male feminists for some obscure reason cos that doesn’t look sexist at all. Proceed to denigrate women for being women (there’s a bad side to each sex) instead of being men (as feminism has informed you we should act) and don’t ask for one moment if you aren’t stepping up somewhere, when, as the dominant sex, the burden is on you alone. That’s what tradition means, the way that worked. Men do the defending because you evolved to be the martial sex. Finger-pointing and claiming victimhood will get it chopped off when the Caliphate is installed.

The impending student loan bubble, in the UK

http://www.thisismoney.co.uk/money/cardsloans/article-2326560/Debt-timebomb-85-cent-students-pay-loans.html

Basically, the excessive number of students going (thanks Labour) to a number of low-quality institutions and the changes to payments (thanks Lib Dems) mean that students can’t even pay off their own interest. <Einstein joke>

Research among his pupils confirmed widespread ignorance about the changes to the interest charges applied  to student loans taken out  from last September.

‘I asked 160 pupils what the new tuition fees cap was and they all chorused £9,000 a year,’ he says.

‘But when I asked about the rate that would be applied to these loans, not one boy could tell me what it was.’

Interest continues to be applied to the debt with the rate depending on  the size of earnings – the more they are paid, the higher the rate, subject to a maximum  of RPI plus three points.
You’re punished for paying down debt – by the people who want you to pay it off.

Take, for example, someone starting on the average national wage of £26,600. Assuming earnings growth throughout their career of  RPI plus two points and the £21,000 threshold increases in line with inflation, Clugston calculates they will never repay their loan. The £43,515 debt accumulated at university will escalate for 27 years – peaking at £78,510 – before falling slightly to £76,800 at the end of Year 30. Under current rules, the debt is then written off.

Why pay them a penny?
Foreign students go off the radar completely, never to be seen again. Why aren’t they charged with theft? Oh yeah, ‘racism’. Except in Scotland, where they don’t have to pay either. Anything. Any tuition fees. At all. Pretty sure they’re white. It’s a direct tax on the English youth.

For the £43,515 debt not to escalate, the graduate’s starting salary would have to be £51,460. For graduates on a lower starting salary, Clugston’s analysis is more worrying. At £21,000 – the threshold for loan repayments to be made – and using the same assumptions as in the previous example, Clugston calculates that the graduate’s debt will keep on escalating because the required repayments are insufficient to arrest the impact of compound interest. At the end of 30 years, the outstanding debt is £101,942.

Swallowed up by the Goverment when it’s written off.
Almost like Marxists can’t do maths.

Only those graduates among the top ten per cent of earners will come close to clearing their debt. Someone starting on £35,000 will be left with a debt of £2,245 after 30 years.

Wait, they still won’t clear it?

Clugston says: ‘David Willetts, the Universities Minister, says 60 per cent of students will repay their debts over their working lives. But  I think this is highly unlikely. Based on the reasonable assumptions I have made, the Government will be forced to write off billions of pounds of student debt per year.’

John McCabe, rector of St Mary’s Church, Byfleet, Surrey, has closely followed Clugston’s work and says the findings are devastating.

‘It’s already extremely difficult for young people to get on the housing ladder and these accelerating loans are not going to help,’ he says.

‘The regulator warned about the time-bomb of interest-only mortgages. Well these loans are another time-bomb. This  is creating a culture of living with unrepayable debt – and wasn’t it that culture that has caused so much damage to the strength of the economy?’

You mean stupid people making stupid financial decisions? Yes.
Think of it as a financial IQ test.
Any students smart enough to figure this out are doing STEM. Higher entry level pay. Or Mummy/Daddy pay. Or they’re somewhere prestigious with connections.
The waste of space arts majors who can’t do maths will spend the rest of their lives suffering to pay off the debt to the institutions they’ve been brainwashed to adore while slaving away on minimum wage. It’s karmic.

Record art sales, no problems here

http://www.unz.com/isteve/billionaires-and-art/

In just two weeks this month in New York, the auction houses Sotheby’s and Christie’s sold over $2 billion in art, a record for major New York fall auctions. …

The lofty sums stunned even longtime art market watchers. “It’s phenomenal,” said Michael Moses, a founder of the Mei Moses Fine Art Index, a widely followed measure of art prices, and a retired professor at the New York University Stern School of Business. “At the Christie’s postmodern and contemporary sale, the average compound return was 20 percent annualized. That’s amazing.” …

This month’s record sales left some dealers and collectors talking about irrational exuberance and a potential bubble, especially in the soaring contemporary-art market. But Evan Beard, who leads Deloitte’s art and finance practice in the United States, said he didn’t agree. “If you were seeing second-rate works selling for huge values, then you’d say there’s dumb money out there,” he said.

lol laughing rdj tony stark heehee haha

“But the works selling for these high multiples are important works that art historians have deemed innovative and have had influence. People want to own original works of genius.”

…He noted that it was contemporary and postwar works that had shown the biggest gains. “The single most surprising change in the art market is the relative increase in the value of recent art,” said David Galenson, a professor of economics at the University of Chicago who has done groundbreaking research into valuations in the art market.

More money than sense. New Money. A fool and his money are soon parted, etc.

While some art historians, curators and dealers bemoan the emergence of fine art as just another economic asset class, “art and money have always been joined by an umbilical cord of gold,” Professor Galenson said. “The Renaissance ideal has gone the way of the dodo bird. I say, Get over it. Steven Cohen doesn’t make any pretense of being an art history major. Maybe he’s the Andy Warhol of collectors.”

I love this suit and everything about this demeanour

In a recent survey of art professionals by Deloitte, 76 percent said collectors viewed art, at least in part, as an investment — up from 53 percent two years ago. And 72 percent said their clients’ primary reason for buying art was related to the “social and networking scene” and the status associated with buying art, compared with 59 percent in 2012.

emotion, great reason behind investment decisions

Given the money involved, it probably shouldn’t be surprising that bankers are treating art like any other asset class, which, in turn, is helping drive up prices and create a more liquid market. More banks are lending against art as collateral. Some are even starting to create collateralized debt obligations with art as the underlying asset — much as bankers packaged subprime mortgages before the financial crisis.

As the commenter says, This will end well.

The soaring prices are being driven by market forces rather than any aesthetic or artistic awakening, Professor Galenson said. “Aesthetics have nothing to do with it.”

No shit.

Commenter: That was the conclusion of Tom Wolfe’s “The Painted Word” in 1975, that the real creative artists weren’t the guys holding the paintbrushes, but the critics holding the pens who explained why you were supposed to care about one guy and not about another guy.

^ And that is why it is doomed. Downward spiral.

“A lot of contemporary art is aggressively ugly,” Professor Galenson said. “That doesn’t matter in terms of its value.”

It bloody will.

Commenter: We live in a world of 7 billion people so there are 7,000 individuals with one-in-a-million artistic talent. There are a lot of very talented artists out there right now making a decent living selling beautiful art to millionaires.

First part is true, second is not. That is the problem.

C: So maybe that helps explain the mystery of why billionaires are so much more enthusiastic about contemporary painting these days than non-billionaires: because the paintings are just embodied metaphors for buying and selling. And billionaires love buying and selling. Buying and selling has been very very good to them.

A product without value.