For the better part of the past 3 months, markets have lost its élan vital, its virile spirits which propelled it from the doom filled days of February, when all seemed lost and China was inexorably ravaged, to new glorious heights.
Since then, the dry bulk index has risen by 193% and stocks bottomed — paving the way for a widely hated market rally, which seemed out of sync with the numbers coming out of corporate America. Nevertheless, there have been terrific gains in a wide array of industries, many in both semis and commodities, enabling many to exit the summer months with an acute sense of achievement and accomplishment. The deficits that had a forlorn affect on the moods of professional money managers have all but dissipated, up until very recently after renewed concerns that the Fed would hike rates into an already stupid and rotten oligarch’d economy.
On news that Draghi wouldn’t self mutilate himself in front of the press today, stocks have sold off.
The true story here is the non stop run in the dollar, something that is sure to be mentioned as a reason for earnings short falls this quarter.
The market is begging, like dogs, for more QE. Without the rigging of markets and rigging of US elections, freedom and prosperity might prevail. Those of us domiciled in middle earth would prefer that freedoms be curtailed and the poor watched over closely. It’s in the best interest of a certain subset of our society to draw from the very best and cheapest labor available in the world. Our corporations cheerfully uplift these bedraggled people and increase their standard of living. One day, said people might purchase a Coca Cola whilst entering inane messages into their Facebook messenger on their fireproof Apple mobile phone.
While some might argue that these policies decrease the standard of living for Americans at home, while promoting a consumerism economy, one based on marketing to an already low information public — saddling them with debt and taxes that bar them from rising above their place, I can only suggest that they move to Mumbai and try avoiding getting raped on public transport or having their hair cut off while eating a riced pudding snack.
The world is changing and our mode of living with it. The internet is no longer a disorganized mess of shifty artists attempting to express themselves, but a well oiled and very greased up corporate machine whose sole purpose is to collect data, from which agencies and retailers might bargain to either watch you closely or sell you a handbag. The news is uniform and the social media empires ensure that competition remains at bay. As long as people are focused on tapping into Facebook and Twitter, they’ll lose interest in trying to compete.
The socials are, essentially, the welfare of the internet, giving people just enough to satisfy their craven demands for attention and praise.
Off to Twitter.
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