https://ca.news.yahoo.com/kanyes-yeezy-sneakers-snag-world-130528028.html
NEW YORK (Reuters) - The Kanye West sneakers that sent athletic shoes strutting down fashion runways sold for $1.8 million, a new world record price for a pair of sneakers, Sotheby's announced on Monday.
The American rapper's 2008 'Grammy Worn' Nike Air Yeezy samples were prototypes for a line developed by West and Mark Smith for Nike. They were revealed during West's performance at the 2008 Grammy Awards.
The buyer was sneaker investing platform RARES, which paid the highest publicly recorded price for the pair. RARES is a leader in fractional ownership, allowing users to invest in sneakers by buying and trading shares in them.
https://www.investopedia.com/terms/m/melt-up.asp
What Is a Melt-Up? A melt-up is a sustained and often unexpected improvement in the investment performance of an asset or asset class, driven partly by a stampede of investors who don't want to miss out on its rise, rather than by fundamental improvements in the economy.
When you can buy into what basically amounts to a 'sneaker timeshare', we are clearly living in insane times.
No man, you're describing the early signs of hyperinflation.
Ever wonder why real estate is in a "bubble" as it has gone up like 30% in the last year across the country.... despite the biggest economic downturn since 1929. Ever wonder why the TSX, Dow Jones, and Nasdaq are all smashing record highs? Cryptocurrency is at all time highs. Bullion is just off all time highs. Why does it cost 20-30% more to eat out than it did 2 years ago?
This is all inflation. We are inflating somewhere in the 10-40% annually right now. Just not with wages.
But couldn't hyperinflation lead to a crash?
hyperinflation means the crash is already happening.
Sorry I'm just getting into this economics stuff
No worries, google hyperinflatoin and economics explained. There are two excellent youtube videos on it, one was posted here recently. It's actually a great introductory lesson in economics (the channel that is, tons of excellent videos).
You'll reach the same conclusion as me; get the fuck out before it's too late.
I already watch him actually. He's lovely.
There’s tonnes of stimulus money floating around and nothing to do with it. The markets are completely detached from reality. We are effectively in a deep recession right now, but the markets do not reflect that. Reality will come and come hard.
Speaking of wild markets, GME is running again. This ought to be exciting.
This is due to money printing.