America’s Upside Down Economy Just Took Another Bizarre Turn
Scoop Publisher Francesco Abbruzzino
Is this a good economy or a bad economy? Well, that all depends on who you are talking to. For most Americans, economic conditions have been absolutely horrible ever since the COVID pandemic first arrived. More than 100,000 businesses have permanently shut down, approximately 10 million Americans are in danger of being evicted from their homes, and weekly unemployment claims have been above the old record set in the early 1980s every single week for nearly an entire year. Meanwhile, the absolutely insane polices that the Federal Reserve and our politicians in Washington have been pursuing have made the wealthy far wealthier than ever before. In early 2020, M1 was sitting at about 4 trillion dollars, and now it is up to 18 trillion dollars. Much of that money has ended up in the pockets of the ultra-wealthy, and now they are spending it is some pretty odd ways.
For example, NFT art is one of the latest crazes. You can’t hang NFT art on your wall, but that isn’t stopping people from paying ridiculous amounts of money for it. In fact, things have gotten so crazy that one film director has decided to sell audio clips of himself farting as NFTs…
A Brooklyn-based film director is simultaneously mocking and attempting to profit off the cryptocurrency craze for non-fungible tokens (NFTs) by selling a year’s worth of fart audio clips recorded in quarantine.
“If people are selling digital art and GIFs, why not sell farts?” Alex Ramírez-Mallis, 36, told The Post of his dank addition to the blockchain-based NFT market.
You would have to be absolutely nuts to purchase such a thing, but apparently someone has already purchased one clip for 85 dollars…
Individual fart recordings are also available for 0.05 Ethereum, or about $85 a pop. The gassy group has so far sold one, to an anonymous buyer.
“If the value increases, they could have an extremely valuable fart on their hands,” he said.
Pizza Hut has decided that they want to get in on the NFT craze as well.
In Canada, the company originally listen an NFT of a pizza slice for 18 cents, but it ended up selling for $8,824…
Pizza Hut Canada has announced it is releasing “1 Byte Favourites,” aka digital images of pizza, as non-fungible tokens. “Pizza Hut believes no world should exist without pizza, especially their pan pizza. That’s why they wanted to make sure it was enshrined in the digital universe,” they said in a release. Each week the company will release a new image of a pizza slice, each of a different recipe, for purchase on Rarible. The first-ever “slice” was listed for $0.0001 ETH (a cryptocurrency the equivalent of 18 cents), but wound up being sold for $8,824.
This is madness, and it is also a grave insult to all of those that are deeply suffering out there.
Could it be possible that we are rapidly approaching our own “let them eat cake” moment?
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