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Dow, wow

Good4Nothin

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We are in the midst of, possibly, the worst economic crisis ever. And yet the DOW has been shooting up for a couple of days. Do you wonder WHY?

Maybe the massive bailouts of big companies and Wall Street banks, and the infinite magic money injected by the Fed. Allowing these companies to buy back their own stock.

This doesn't help the economy. It just sets us up for even worse crises in the future.
 
We are in the midst of, possibly, the worst economic crisis ever. And yet the DOW has been shooting up for a couple of days. Do you wonder WHY?

Maybe the massive bailouts of big companies and Wall Street banks, and the infinite magic money injected by the Fed. Allowing these companies to buy back their own stock.

This doesn't help the economy. It just sets us up for even worse crises in the future.

Maybe it is because China saw its first day with no new deaths or community infections reported....
 
We are in the midst of, possibly, the worst economic crisis ever. And yet the DOW has been shooting up for a couple of days. Do you wonder WHY?

Maybe the massive bailouts of big companies and Wall Street banks, and the infinite magic money injected by the Fed. Allowing these companies to buy back their own stock.

This doesn't help the economy. It just sets us up for even worse crises in the future.

Because it was down so low that the billionaires are betting that we've seen the crest and are investing their billions as if it were only money. It will go up big again today. Then when the jobs report and other reports come out, it will drop like a bomb again. Billionaires sold ahead of the biggest dip and they'll buy at the lowest points. All monopoly money anyway.
 
We are in the midst of, possibly, the worst economic crisis ever. And yet the DOW has been shooting up for a couple of days. Do you wonder WHY?

Maybe the massive bailouts of big companies and Wall Street banks, and the infinite magic money injected by the Fed. Allowing these companies to buy back their own stock.

This doesn't help the economy. It just sets us up for even worse crises in the future.
The Dow is reacting to the possibility we may be turning the corner on the pandemic. It's the first even slightly positive news on the pandemic in many weeks.
 
Because it was down so low that the billionaires are betting that we've seen the crest and are investing their billions as if it were only money. It will go up big again today. Then when the jobs report and other reports come out, it will drop like a bomb again. Billionaires sold ahead of the biggest dip and they'll buy at the lowest points. All monopoly money anyway.
I don't think economic numbers are having much of a Dow impact at this particular juncture. I believe the pandemic news & pandemic response news is driving the markets.
 
I don't think economic numbers are having much of a Dow impact at this particular juncture. I believe the pandemic news & pandemic response news is driving the markets.

The market is now completely detached from reality. Nothing but a Ponzi scam.
 
We are in the midst of, possibly, the worst economic crisis ever. And yet the DOW has been shooting up for a couple of days. Do you wonder WHY?

Maybe the massive bailouts of big companies and Wall Street banks, and the infinite magic money injected by the Fed. Allowing these companies to buy back their own stock.

This doesn't help the economy. It just sets us up for even worse crises in the future.


1. Light at the end of the tunnel.

2. Other good news.
 
It could well be that the test of drug combinations started a week ago, have started to show results.
and while the news has not spread widely, the traders in New York, are hearing positive results, locally, where the problem is the worst.
Just a theory, but we have doctors in Houston saying they are starting the phase 1 human trial of a vaccine.
The double blind studies of drugs started several weeks ago by the WHO, and New York last week, should be showing results by now.
It might be difficult to keep a lid on such positive news.
 
I don't think economic numbers are having much of a Dow impact at this particular juncture. I believe the pandemic news & pandemic response news is driving the markets.

Assuredly the reason for the sell-off, but the upticks are more likely to be big investors bargain shopping. No average high income person who dabbles in the stock market is buying right now.
 
The market is now completely detached from reality. Nothing but a Ponzi scam.
Big Pharma stocks that make Hydroxychloroquine are certainly on the rise. Trump, Wilbur Ross and GOP groups are invested in those companies that make HCQ, such as Sanofi.
 
Assuredly the reason for the sell-off, but the upticks are more likely to be big investors bargain shopping. No average high income person who dabbles in the stock market is buying right now.
Alright, I can buy that. <-- see what I did there

But even those are influenced by corona news to some degree.
 
Alright, I can buy that. <-- see what I did there

But even those are influenced by corona news to some degree.

Nobody in and of themselves can move entire markets. Funds are re-investing, thinking we're probably going to make things in the future and make money doing it.

I own a fertilizer stock for instance, which makes little sense that it was being priced like it was about to go out of business. I assume that the crops are still going to be planted and that people are still going to eat food in the future and the current wall street panic is going to subside.
 
None of you want to think it could be sheer Fed trickery.
 
Maybe it is because China saw its first day with no new deaths or community infections reported....

It’s 8:15am and 902 people have died from cv19 just today.
 
It’s 8:15am and 902 people have died from cv19 just today.

so? stock market is more interested in China than nyc senior citizens
 
so? stock market is more interested in China than nyc senior citizens

Even if that were true, it’s just further evidence that the stock market isn’t tied to our well being. It also isn’t going to bring unemployment back down again.
 
Even if that were true, it’s just further evidence that the stock market isn’t tied to our well being. It also isn’t going to bring unemployment back down again.

sorry but I mean, the stock market has NEVER been tied to our well being... it's a speculation tool for the rich and away to get investment money for business.
 
We are in the midst of, possibly, the worst economic crisis ever. And yet the DOW has been shooting up for a couple of days. Do you wonder WHY?

Maybe the massive bailouts of big companies and Wall Street banks, and the infinite magic money injected by the Fed. Allowing these companies to buy back their own stock.

This doesn't help the economy. It just sets us up for even worse crises in the future.

if you have been paying attention to the news which you haven't been the DOW has been up as
countries such as italy and china are seeing a slow down in the spread of the virus.
 
Because it was down so low that the billionaires are betting that we've seen the crest and are investing their billions as if it were only money. It will go up big again today. Then when the jobs report and other reports come out, it will drop like a bomb again. Billionaires sold ahead of the biggest dip and they'll buy at the lowest points. All monopoly money anyway.

actually it isn't monopoly money it is actually real money being lost or gained.
 
sorry but I mean, the stock market has NEVER been tied to our well being... it's a speculation tool for the rich and away to get investment money for business.

Sure, and that’s kind of my point. Our well being and the strength of the DOW may occasionally fit in a space inside a Venn Diagram, but they are definitely different things. The stock market is run by supercomputers. It’s basically Skynet that we are allowed to interact with to a minimal degree.
 
The upward trend of the Dow Industrial Index suggests that the major corporations have figured out the loopholes in the recently-passed $UST2.2 bill and have managed to interject still more into the next one.

In a recession, capitalists rediscover the work of John Maynard Keynes.

Their post-recession memory, however, is of an inferior sort.
 
Even if that were true, it’s just further evidence that the stock market isn’t tied to our well being. It also isn’t going to bring unemployment back down again.

If the Dow were only down 10K, all our unemployment woes would be over :roll:
 
actually it isn't monopoly money it is actually real money being lost or gained.
Let me hand you a $100 currency note and ask you a simple question: What do you think this $100 note is worth? The answer is 'belief'. You believe that $100 bill is worth $100 because it says 'Federal Reserve' on it. What is backing up all our paper money? Since Nixon took us off the gold standard, which backed up our money, it's now backed up by nothing other than 'the full faith and credit of the US government'.

And why do people believe in what the US Government says? They just do. Gotta believe in something, so why not something that has the backing of the very constitution which we have created for ourselves? People believe that the US as a nation will be stable long enough for them to be able to use this ‘fancy paper’ as a medium of exchange, hence its value. As long as that belief holds true and the nation remains stable, the US Govt. holds its credibility in the eyes of people.

Thus, money has value because people believe it does. And as long as they believe the story, it continues to hold value. The moment they stop, it fails and becomes a worthless piece of paper and our economy and society falls apart.

Ask yourself a question. If all the money in the U.S. only totals $6 trillion how can the New York Stock Exchange have stocks valued at $15 trillion? The value of oil, the value of IBM, the value of any major stock is nothing more than an estimated net worth, it's not a specific number or value.

One example:
If all the money in the U.S. only totals $6 trillion, how can the New York Stock Exchange have stocks valued at $15 trillion? | HowStuffWorks

On the New York Stock Exchange (NYSE), as of October 1999 there were 3,066 companies listed. One of them was IBM. A site like this one would tell you that IBM had 1,809,090,000 outstanding shares on October 21, 1999, and this page would tell you that the stock closed at $91 on October 21, 1999. That means that IBM's total capitalization was:

1,809,090,000 shares * $91 = $164,627,190,000

In other words, if all the shares of IBM were bought by someone for $91 per share, the person would have to pay $164 billion to buy IBM. If you perform that calculation across all 3,066 companies on the NYSE and add them all up, you get a total capitalization of $15 trillion.
 
Let me hand you a $100 currency note and ask you a simple question: What do you think this $100 note is worth? The answer is 'belief'. You believe that $100 bill is worth $100 because it says 'Federal Reserve' on it. What is backing up all our paper money? Since Nixon took us off the gold standard, which backed up our money, it's now backed up by nothing other than 'the full faith and credit of the US government'.

And why do people believe in what the US Government says? They just do. Gotta believe in something, so why not something that has the backing of the very constitution which we have created for ourselves? People believe that the US as a nation will be stable long enough for them to be able to use this ‘fancy paper’ as a medium of exchange, hence its value. As long as that belief holds true and the nation remains stable, the US Govt. holds its credibility in the eyes of people.

Thus, money has value because people believe it does. And as long as they believe the story, it continues to hold value. The moment they stop, it fails and becomes a worthless piece of paper and our economy and society falls apart.

No, I do not think it's all just faith. It is faith PLUS some kind of limit. We have always believed the Fed would keep the money supply within reasonable limits. We no longer have any reason to believe that.

The whole concept of currency DEPENDS on limits. So ok the gold standard wasn't working out any more. So we gave that up but we still thought a limit of some kind would somehow be imposed.

The American Indians used wampum as currency, because it wasn't easy to make. But European settlers came and made wampum with their better technology, and it lost its value and could no longer be used as currency.

There HAS to be some kind of limit. But the Fed has stopped limiting dollars. So there is a meteor heading for the earth.
 
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