For a minute there, maybe two, it looked as if stocks were heading lower. The Dow was off by more than 100. WTI was down 3.5% and the mood in the room was glum. Then, as if everyone was stricken with an epiphany all at once, stocks lifted and lifted some more. The prevailing wisdom is, and always has been, stocks will continue higher as long as central banks wish it so.
Gone are the days of business cycles and earnings. All that matters now is rigging and the cajoling of sentiment, across the globe, for the explicit purposes of realizing utopia–a society that is starkly divided amongst classes and where profit is paramount to all tenets, even life itself.
Oh, you’re just a low farmer, minding your business and growing food from the earth?
Are you uncomfortable paying $2,000 per mo for your families health insurance? Too bad, profits must be had.
Eventually, most of you will become wards of the state, with the majority of property and wealth in the hands of an elite few. The indelible march towards tyranny begins and ends with the rigging of markets, which is at the epicenter of everything that’s wrong with society today.
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stocks up for Harambe.
It bothers me to be part of a lost generation. Unfortunately, I have not yet found a way to escape the working class life. Oh well…
Maybe you can just pretend to be me at iBC and make all sorts of fucked up comments?
Well I tried that but I wasn’t able to do it long enough to monetize your name and have a fake iBC IPO before you caught on.
Try changing your name. Unless you’re an actual helicopter pilot. Then I apologize.
I REMIND EVERYONE
I described scenarios of a couple PCs hooked up basically with macro keys to Dow30-subsets or their futures. Could not be more apparent in this summer-fall 16 election year. How accurate that was.
CIRCA EARLY-MID 2013
There is a black hole blowing in the wind. A great man called it a vortex once.
No balls, no babies.
Seems like a rigged market regime that tends to concentrate wealth should be matched with a higher marginal income tax or estate tax regime that skims the unearned gains.