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I’m super skeptical that there’s any manipulation in the BLS numbers. I mean, there’s a lot of uncertainty about how exactly to measure unemployment right now when we’ve got tons of businesses going from temporary shut-downs to kind-of-open, but blaming it on manipulation seems like it’s inching towards ShadowStats/unskewing polls territory.
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Thank you. While I sympathize with the plight of black Americans, please remember to pour one out for those of us that experienced disappointing dividend yields in these troubling times. #portfoliolivesmatter
The craziest thing about that jobs report is that all of the gains were in furloughed and temporary layoffs. 2.8m of those. Meanwhile 300,000 permanent job losses in that report. So even if it is accurate it doesn’t exactly seem like the blowout news Trump/the market is claiming.
But let’s be real. On this timeline there is no way we aren’t setting new all time stock records while doing 2-3 9/11s worth of unnecessary death a week and 10-15% unemployment. That is just too perfect.
Hahaha, I just realized how amazing it would be if stocks plummeted and Trump came out with “DIVIDEND YIELDS HIGHER THAN THEY’VE BEEN IN YEARS! GREAT THINGS HAPPENING!”
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Step 1: ban stock buybacks
Step 2: gloat about highest dividend yields in history
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Yeah, we need to change bailouts to equity. You want taxpayer money? Taxpayers get a stake. You want to buy back stock? Buy back that.
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in for STONKS
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- Cut 20 million jobs.
- Stonks drop 0.5%
- Bring back 3 million jobs.
- Stonks go up 20%
- Rinse & reapeat
Dow Joans will be at 60k in no time.
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The unemployment numbers were bullshit. April was actually at least 19.7%, May was actually at least 16.3%. They “accidentally” mischaracterized the numbers.
This will come as no surprise to anyone, I’ll just beat my head against the wall for not selling everything at close like I considered.
It’s still got a ways to go in my foolish opinion. Covid doesn’t matter at this point and there will be good vaccine news soon because any vaccine news is good news. SPx could be 3400 by end of June.
I go hiking for the day and stonks go absolutely apeshit.
My position has always been I would pull back from being 100% stonks if we get to our old highs before covid is resolved. But JFC could the market just grind up and not put my resolve to the test in like a week from now?
Is a lot of this upside just because the USD is worth so much less with the fed’s insanely aggressive money printing since covid? And if so - does that mean houses, gold, pretty much any other asset is also immediately worth more in USD (whether the market immediately reflects it or not)?
QQQ hit a new ATH today, so did the full NASDAQ.
Worth so much less what?
Weekend Wall Street is barely down.
Gold. Euros. Units of housing. Beanie Babies. Etc.
I think the last actual release of inflation numbers actually indicated we had deflation here as well.
A lot of the stimulus/monetary policy that was been used expires within the next month or two also if no more legislation is passed. It seems like it will be unlikely to pass with STONKS at ATHs.
Its not worth much less of any of those things, and foreign currency is different from the other things. Its not a measure of value, its a measure of the percieved relative strength of 2 economies.
Afaict, printing money is inflarionary, economic contraction is deflationary. If the fed puts exactly enough money out to compensate for the contraction there is neither. Too much and we will get inflation you’re concerned about. Too little and we’ll get the opposite.
So the question is, is the fed doing too much or too little and how do you know?
The Inexplicable bull market continues. Flat out bizarre.