Is the Economy and High Inflation Impacting Reefing?

[PeterC99]

Noticed that my electric bill was 37% higher last month than previous month with almost the same usage. Now I’m noticing fewer people joining R2R.

Is this hobby a good indicator of economic activity?

 

[KentuckyKobra]

I would think so. A lot of people around me in Michigan dropped out of the hobby after the 2008 financial crisis.

 

[Andresnyc93]

Yeah same here, conEd sent me a letter saying my bill would be higher this month due to prices increasing.
Also equipment and a nice looking aquariums haven’t been cheap to come by recently, shipping is taking longer and the new Lacey act has everyone loosing their minds.

 

[GARRIGA]

Don’t think so. Hobbies aren’t necessities. We do it because we want to. Might just hold off on setting up a new build or expanding but doubt inflation keeps any wanting to from having at it. Plus there’s always inflation. Always has. At some point wages advance otherwise we go into a recession. Can’t sell what people can’t buy.

I’m not panicking. Just accepted long ago tomorrow will always cost more than yesterday. Life still goes on. This hobby exponentially more expensive then when I put my first goldfish in a bowl.

BTW, best way to fight inflation is the stock market. Know how to trade bear markets and cost of products and services don’t matter because you earn quicker in a down turn than when all are bullish. Fear is a powerful incentive. Best learn how to earn from it than fear it.

 

[N.Sreefer]

Don’t think so. Hobbies aren’t necessities. We do it because we want to. Might just hold off on setting up a new build or expanding but doubt inflation keeps any wanting to from having at it. Plus there’s always inflation. Always has. At some point wages advance otherwise we go into a recession. Can’t sell what people can’t buy.

I’m not panicking. Just accepted long ago tomorrow will always cost more than yesterday. Life still goes on. This hobby exponentially more expensive then when I put my first goldfish in a bowl.

BTW, best way to fight inflation is the stock market. Know how to trade bear markets and cost of products and services don’t matter because you earn quicker in a down turn than when all are bullish. Fear is a powerful incentive. Best learn how to earn from it than fear it.

Gold my man, gold is the best hedge against inflation better than stocks any day my portfolio has decreased recently gold always holds steady/increases. Agreed on all points however.

 

[PeterC99]

Don’t think so. Hobbies aren’t necessities. We do it because we want to. Might just hold off on setting up a new build or expanding but doubt inflation keeps any wanting to from having at it. Plus there’s always inflation. Always has. At some point wages advance otherwise we go into a recession. Can’t sell what people can’t buy.

I’m not panicking. Just accepted long ago tomorrow will always cost more than yesterday. Life still goes on. This hobby exponentially more expensive then when I put my first goldfish in a bowl.

BTW, best way to fight inflation is the stock market. Know how to trade bear markets and cost of products and services don’t matter because you earn quicker in a down turn than when all are bullish. Fear is a powerful incentive. Best learn how to earn from it than fear it.

Have we officially entered a bear market?

 

[GARRIGA]

Gold my man, gold is the best hedge against inflation better than stocks any day my portfolio has decreased recently gold always holds steady/increases. Agreed on all points however.

Gold is the standard but I actively trade inverse triple leveraged ETFs such as SQQQ. Made 11% plus yesterday. Not an everyday thing but there was blood in the streets. Can’t say I could have done that actively trading gold.

I’m not talking about holding longterm. I’m talking about actively trading and benefiting from distress in the market or economy. Two different things.

 

[Tamberav]

Probably. It’s a hobby but if the prices of food and electricity and housing go up then you have to pinch somewhere so it will be the hobby.

 

[PeterC99]

Gold is the standard but I actively trade inverse triple leveraged ETFs such as SQQQ. Made 11% plus yesterday. Not an everyday thing but there was blood in the streets. Can’t say I could have done that actively trading gold.

I’m not talking about holding longterm. I’m talking about actively trading and benefiting from distress in the market or economy. Two different things.

Impressive but those leveraged ETFs scare me.

 

[GARRIGA]

Have we officially entered a bear market?

Doubt it. Market wants to be bullish. However, conflicts around the globe could lead us to bearish sentiment for an extended period as certain supply chains are disrupted such as oil and semiconductors. Oil increases due to supply constraints will impact the economy and this hobby.

Bigger issue is many believe we are in a bubble. Myself included. Very similar to the dot.com bubble of 2000 where equities were greatly overvalued. For most that could be painful if it busts. Not me. I’ll profit from shorting the market. Why inflation is of no consequence and I tend not to worry about that I can’t control yet know will eventually happen.

Sad part being inflation in some aspects is transitory such as oil which will drop as supply increases but others won’t because retailers know once consumers get accustomed to a higher price they will stop worrying about it. That’s permanent inflation. That’s because of greed and not necessity.

Only way for consumers to counter that is not spending because they can’t and that will then lead to a recession and ultimately a bear market. The latter however not always connected to the economy. Although discounts will suddenly appear if people can’t afford hobbies because buying milk and paying rent more important.

That’s when this hobby will feel it and mostly by the LFS because we will be forced to seek the lowest prices and they can’t compete against the big store chains and last this hobby needs is buying options only from large chains. On the bright side. Frag meets might increase because lower overhead allows offerings at lower prices. If only we can afford the box they will go in.

 

[Schraufabagel]

When moving to our new apartment I early last year I noticed that electric was more per kwh for the same usage. I think some providers are starting to bump up to offset costs.

Also, two of my close friends are in the market for houses. One hasn't been able to close one for over a year and another for several months. It's insane when a house is sold only a couple days after listing! And for much more than it was appraised for.

 

[GARRIGA]

Impressive but those leveraged ETFs scare me.

Only if you stay in too long. I have. I’ve paid the penalty. Why now I just follow the charts. I’m in quick. I’m out quicker. Best day trade these unless theirs a clear indication the market headed in one direction or use trailing stop losses and ease the risk.

 

[PeterC99]

Only if you stay in too long. I have. I’ve paid the penalty. Why now I just follow the charts. I’m in quick. I’m out quicker. Best day trade these unless theirs a clear indication the market headed in one direction or use trailing stop losses and ease the risk.

They moved this thread from General to Lounge. Why do they do this?

 

[N.Sreefer]

They moved this thread from General to Lounge. Why do they do this?

Anything off topic goes to the lounge and I guess the talk on economics is considered off topic despite effecting the trade.

Gold is the standard but I actively trade inverse triple leveraged ETFs such as SQQQ. Made 11% plus yesterday. Not an everyday thing but there was blood in the streets. Can’t say I could have done that actively trading gold.

I’m not talking about holding longterm. I’m talking about actively trading and benefiting from distress in the market or economy. Two different things.

I am definitely not educated enough on trading to attempt that haha I would go broke pretty quick.

 

[GARRIGA]

They moved this thread from General to Lounge. Why do they do this?

Seems we aren't discussing reef tanks anymore.

 

[GARRIGA]

Anything off topic goes to the lounge and I guess the talk on economics is considered off topic despite effecting the trade.

I am definitely not educated enough on trading to attempt that haha I would go broke pretty quick.

Trading seems hard but not if you research it and perhaps take a coarse. Sadly, not something we are taught in school and I'm a Finance professional and had to learn it mostly from places I've worked and having to grasp the market as it pertained to my employment. Honestly, understanding the market easier than the chemistry involved in keeping SPS dominated tanks. Any who master the latter can likely master the market. Although if one is the gambling type than that can lead quickly to ruins. Similarities exist but the operator matters although those who gamble have made it rich yet most don't. All can't profit. No different than sports. Some will be better and others must lose. Why I gave up my dream of playing professional ball. I'd a failed miserably

 

[fish farmer]

Noticed that my electric bill was 37% higher last month than previous month with almost the same usage. Now I’m noticing fewer people joining R2R.

Is this hobby a good indicator of economic activity?

A lot of folks from what I saw go into the hobby because they were working from home, maybe going back to regular workplace?

I notice the activity in this hobby changes with the seasons....still winter where I'm at, but considering there will be a record high temperature at the Super Bowl tells me many people will probably be leaving their caves for the winter soon.

My electric bill has stayed the same....too high, but that is because of the electric heaters we run in the bedrooms. It was a very cold January around here.

 

[biecacka]

I agree it does have some impact on the hobby. However, just as fast as some people are getting out, people are getting in. That is why the classified sections pages grows daily. That is a great way for people to get into the hobby or expand their footprint in the hobby- by buying used equipment. The issue here is some sellers want almost new prices for used equipment and that is their right. They often get it or get close to it and that is still a win for everyone.
As far as the market goes.....I don't know how much longer some of the stuff is sustainable. Especially the housing aspect. Houses are going for 10-20% or more over the real value as its turned into a bidding war. It is killing first time homebuyers for sure. It does nothing but make me think back to 2008 when the housing market collapsed then. Not saying that it will be the same, but it is worth being cognizant of.


corey