People believe a lot of weird stuff. But there's literally a maxim, around forever, that "the stock market is not the economy". People who believe otherwise are likely to be confused by events. Trump's antics are a separate issue which the market, in my view, has been evaluating incorrectly.
Right - the stock market is still the best place to beat inflation unfortunately
most Americans don’t have a cent directly invested in the market & those that do are involved via a 401(k) they just divvy up their ‘nest egg’ by what looks good, but they do take a glance at the markets & figure is they’re all doing fine the economy must be fine, it’s just the stores being greedy
Yes I know I was just commenting on why asset prices are still high - but it’s misleading because we’ve lost purchasing power both on kitchen table and macroeconomic levels (FX rates)
just think how unbelievably wealthy Thomas Edison would have been if companies were as highly valued as they are today
As a “tech” company CEO he’d get the speculative premium. Equity prices are untethered from fundamentals - read yesterday that 10 companies in the tech sector is nearly 40% of the S&P 500. This is oligarchy - predicting AI enabled feudalism soon and/or big tech will simply own everything else
(*That’s what the markets seem to be predicting with endless growth.)
"Soon"? More like "two months ago".
?
"AI feudalism" not soon, has already happened. Actually I think it is Tech/ Corporate Oligarchy powered by AI. But definitely a monarchial feudal model.
We are subjugated by tech oligarchy - citizens United and their massive wealth - by a noticeable degree, but AI is still a machine, a very fast tool that makes many mistakes, delivers slop and highly resource dependent Also we have other industry yet- but mostly owned by PE now IMHO not here yet
The machines will always obey their tech overlords. Frex, Elon Musk's Grok.