I’ve heard compelling arguments that the US stock market is basically a multi-generational ponzi scheme. Just don’t be the generation caught holding the bag.
Of course the people making those arguments invariably recommend buying gold.
The way things have been going for my generation, I’m gonna assume it’s us holding the bag.
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There’s no generation that will ever hold the bag. This stuff’s all make believe and fantasy land and the people who have made incredible imaginary fortunes aren’t going to suddenly let them dissolve. The top 1-5% all have their hands in the cookie jar and THEY are the watchmen.
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I have about 5 large bins full of Beanie Babies in my basement worth about $100 that my favorite aunt and uncle paid thousands for. I’m holding them “until they recover their value”. It’s been about 15 years now. My uncle is dead and my aunt probably forgot I even have them, but I’m afraid to toss them in case she ever asks about them.
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This is worth at least a 5% bump to the S&P 500.
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Do you keep them with your collection of tulip bulbs from the 1600s?
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These two headlines are back to back on CNBC.com right now:
Pretty emblematic of STONKS vs. reality.
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We also have NASDAQ 100 hitting a record high today.
From daily cursory glances it appears every day this week futures have been moderately negative at some point and market obviously ended up. Contrast to previous weeks where I’ve noticed in market hours the gains (of course they are all still gains) are more muted than out of hours. Either way same result - bears feeling urge to walk into the ocean with weights around their ankles.
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WORKING HARD! THANK YOU!
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Unemployment dropped in May … epic
Stonks gonna stonk.
So there are tons of people collecting unemployment who also got their jobs back and are working? Or how can unemployment claims be rising at the same time payrolls are rising.
Lots of chatter among Econ twitter that the numbers are either manipulated or off due to a faulty model.
DJIA 27K.
Congrats rich people!
STONKS!
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Yeah this has to be the case. Economists can’t all be this stupid (only 80% of them are).
Maybe they had cubic guy fit a cubic formula through the data. Great news everyone unemployment will be zero percent on July 8th and negative 8000% by the election!
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