superrific
Master of the ZZLverse
- Messages
- 10,767
It's unclear if the stock market actually continues to process news or estimates with any accuracy or reliability.Re: FAFO - I'm waiting for the rich bastards with all of the stock holdings - who only voted Trump/Maga for the benefit of their wallet - to finally get their comeuppance. The Markets are still booming with the S&P 500 going over 6500 and the Dow getting a new record high. The government said US GDP rose 3.3% in the second quarter, a surprise bump up from its first estimate.
1) Is the Wall Street economy really reacting to Trump policies positively? Or is this some sort of calm before the storm - with folks now trying to "get ahead" of looming tariff repercussions - before the tsunami hits Wall St.?
2) Can we even trust reports coming out of the Government for accurate and truthful data - now that it's surely to be skewed to "look" better than what it really is? Can we even trust reporting from the corporate-run Media (especially Legacy Media) now that they've bent the knee and sucked off Donnie?
As long as Reuters and AP remain neutral, truthful and accurate I'll keep my lethal combination of sleeping pills and hard liquor in the cupboard... for now... However, I reserve the right to have my libations in a moderate fashion on the daily... for now...
For years, the lions' share of trading has been done by high frequency trading algorithms that don't know of or care about anything fundamental. Combine that with bubbles that have persisted for a long time and the stock market might be mostly just a big game of poker. Crypto doesn't help at all. You have a generation of young people who have made a lot of money buying stupid shit with no value, watching it go up in price, and then crash, but go up again, and still goes up, all despite there being absolutely no use or value to that crap.
I have no idea what drives the Wall Street economy at all.