Couldn’t agree more Luke, and yes, using bigger ticket assets like houses and cars definitely provide more accurate optics through which to view inflation.
As to Bitcoin’s resistance to a massive correction (at best) or complete economic collapse, only time will tell. My guess is that if it’s a collapse, cryptos will likely unwind down to the ground, along with everything else; with so much money in the system, there’s a lot of malinvestment in cryptos, where I think Bitcoin has now proved itself as the hardest monetary asset that’s ever existed. If it unwinds, which it might, the tailwinds that will gather behind it will likely send it to global currency status and if it has an 80% draw down, it’ll be next to impossible to get on exchanges to buy it before it goes parabolic as the masses run to it as the apex SoV.
The posturing and theatre of the G4 and interest rates/tapering at the moment is almost monty pythonesque. On the other hand, the absence of a way out for them and their fumbling around, is a prelude to the inevitable and the pain that’ll come to many with a crash and transition.
