angry_impala

Nothing is ever really priced in when it comes to layered structured debt and credit default swaps. Not even the default swaps.

I think the that they feel the need to do these off balance sheet shenanigans is the issue. They're obviously extremely worried that their credit rating is going to be downgraded otherwise, why bother?

I get it, I'm just saying when people point to GPU prices as some sort of proof this is all logical, it's actually the place where the logic begin to unravel the most blatantly. They have more GPUs then they will be able to plug in for at least a few years.

Yeah, but how logical is that when you don't even have the electrical grid capacity to turn on all the GPUs that have already been bought?