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Your idealistic vision of the stock markets doesn't hold well to the reality of the Fed literally price fixing everything under the sun so that we don't experie
by jmnicolas 6y ago
Your idealistic vision of the stock markets doesn't hold well to the reality of the Fed literally price fixing everything under the sun so that we don't experience the biggest crash since 1929.
Right now there is no price discovery, all stocks are way overpriced.
While mainstreet is going in flames, wallstreet acts like everything is peachy and jumps on any rumor of a hint of a possibility that someone somewhere might someday have something that look like the possibility of a COVID vaccine (looking at you Gilead scam).
This won't end well (imo).
- Erlich_Bachman 6y ago> This won't end well (imo). People have been saying that for decades. How many decades of successful operation are worth then having a couple of years of "won't end well"? Also why do we think that any other system would "end well" (whatever that specifically means)? It's not like there were never any economic crises or instability before FED and other organizations started manipulating the system that way.
- jmnicolas 6y agoMy company will probably default in September according to the boss. I'm French and I'm convinced that in less than 2 years from now I won't pay with Euros anymore (maybe Francs or South Euros or whatever they will invent). So at least for me it doesn't end well very soon. But even the FMI boss called for a big reset.
- Gibbon1 6y agoOnly comment I have is the in the US the Federal government imposes enormous and continual cash transfers from wealthy states to poorer state. I've come around to the idea that without those the system would fall apart. And that the EU does not appear to have anything at that scale. Also in the US banking is 100% backstopped by the Fed.