Andrew Cox and Seth Holm discuss how rises in cryptocurrency metrics should influence where you put your money
Andrew Cox and Seth Holm are back with another round of “you care or nah?” and today’s discussion brings up some hot points about a jump in bitcoin.
The hot topics:
- The National Association of Home Builders confidence index is up high. Andrew and Seth both care, but Seth thinks the housing market is getting so hot to the point it may be dangerous for inflation.
- Retail sales have been revised to lower levels for the month of October. Seth doesn’t care, saying the slight blip is nothing to worry about and the Christmas season will still be strong.
- Retailers are cutting the number of SKUs offered on their shelves. Both Seth and Andrew care, saying this will help drive consumer decision-making. Andrew says, “The advent of the internet and the rise of e-commerce freed consumers from the constraints of a store,” but it also gave people way too many choices. Seth thinks trimming product offerings is good, saying, “With less options, people are more likely to pick one thing and go.”
- The big SPAC rally is causing the market to morph into a speculative market. Seth cares and says there are early signs of speculative activity but it doesn’t look as crazy as the tech bubble was for the market.
- Bitcoin value is back up, almost to the highs of 2017. This is the hottest point of the discussion, with Seth and Andrew both believing the rise has to do with the massive GDP losses seen in developed countries due to COVID-19. Seth says, “People are more skeptical of hard currencies than ever before,” and that is driving them to invest in crypto options. Andrew and Seth both agree that while people shouldn’t be scared to drop into the crypto world, governments should be concerned about losing control and oversight of their constituent spending.
Carriers may not be investing in bitcoin, but they are starting to invest in new trucks as newbuild orders continue to rise.
Seth and Andrew debate whether this rise is attributed to true capacity growth or to aging fleets. Seth says, “Even if this started out as aging fleets, with the high rates this will eventually turn into organic capacity growth.”
Carriers, especially smaller carriers, should focus on filling their existing driver seats and getting those drivers on the road before expanding into new fleets.
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