4 ms·

The biggest "pretend" is where spokesmen, spin doctors, and sycophants for the plutocrat class have somehow convinced the 99% that stocks going up makes more jo

The biggest "pretend" is where spokesmen, spin doctors, and sycophants for the plutocrat class have somehow convinced the 99% that stocks going up makes more jobs for the little people.

nemomarx 1y ago
are stocks even going up outside of tech stocks that can benefit from AI investment? everything else seems stagnant
- array_key_first 1y ago
  No. And even in tech, its highly concentrated in AI. The S&P 500 is almost 10% Nvidia. Just Nvidia. Y'all that's scary.
  - reactordev 1y ago
    It’s broken. They did this and think it’s ok, it’s not. It’s most definitely not.
  - piva00 1y ago
    The Nifty Fifty concept from the 70s sound almost sensible compared to the bullshit of Magnificent Seven of now. The same cycle just goes around and around...
lotsofpulp 1y ago
SP500 is flat this year when you account for loss of purchasing power of the US dollar: https://ycharts.com/indices/%5ESPXEUR https://ycharts.com/indices/%5ESPXEUR
- noir_lord 1y ago
  Factor out the AI companies doing circular dealing to juke their stock price and GDP growth was like 0.1% combine that with purchasing power loss and US economy is net negative. It's pretty clear what happens next. Over 42 million people are about to lose their SNAP payments in 4 days[1] and millions more medical care. It's gonna get bad. https://www.bbc.co.uk/news/articles/c4g7d9j7p5qo https://www.bbc.co.uk/news/articles/c4g7d9j7p5qo
  - drstewart 1y ago
    "Exclude data I don't like, combing it with other data that's unrelated in unknown ways, and voila: DOOM!"
  - raw_anon_1111 1y ago
    The only publicly traded companies that are involved in what could be considered circular dealings in enough volume to affect their stock price are Nvidia and Oracle.
    - johnnyanmac 1y ago
      So, the company that, by itself, is 10% of the S&P 500. I never would have bet on an Nvidia crash alone being what causes the 21st century great depression, but reality is alwways stranger than fiction.
- drstewart 1y ago
  No it's not: https://ycharts.com/indices/%5ESPXCAD https://ycharts.com/indices/%5ESPXCAD https://ycharts.com/indices/%5ESPXJPY https://ycharts.com/indices/%5ESPXJPY https://ycharts.com/indices/%5ESPXCNY https://ycharts.com/indices/%5ESPXCNY Hmm, might have you cherry-picked some data?
  - johnnyanmac 1y ago
    >when you account for loss of purchasing power of the US dollar: I see about a 10% growth in your charts and that's what experts estimate the loss on the dolar has been this year. What's the deal?
    - drstewart 1y ago
      The "deal" is that those chats are already adjusted to foreign currencies. That's 10% growth in those currencies. Maybe your experts aren't such experts.
      - johnnyanmac 1y ago
        Why are we pretending that other currencies also aren't falling? Those charts don't negate that suggestion. I'm no expert myself, but feel free to argue with them if you are: https://www.morganstanley.com/insights/articles/us-dollar-declines https://www.morganstanley.com/insights/articles/us-dollar-de... https://economictimes.indiatimes.com/news/international/us/dollars-10-slide-under-trump-has-cost-you-paul-graham-issues-stark-wealth-warning-and-explains-how-much/articleshow/124362402.cms?from=mdr https://economictimes.indiatimes.com/news/international/us/d... (note: This one comes from Paul Graham himself).
HelloMcFly 1y ago
The most pernicious part of the con is that by systematically dismantling pensions and forcing everyone into 401(k)s, they've ensured that we all have to root for the plutocrats. We're forced to watch our retirement funds, which means we're incentivized to hope Amazon's stock does go up after firing 14k (or 30k according to other sources) people. It's a system of forced complicity. We have to root for the billionaires, or we risk our own survival in old age.
- reactordev 1y ago
  Our survival in old age is guaranteed to be a shit show no matter your wealth. Social security won’t be there. Medicare won’t be there. Your one room apartment in your assisted living place will run you $15,000/mo. And still, no one gets out alive.
- johnnyanmac 1y ago
  Depends on how close you are to retirement. I'm not even halfway there. I'd rather think long term and legitimately fix issues in the economy. I don't need number to go up explosively every year.
- deleted 1y ago
  [deleted]

The biggest "pretend" is where spokesmen, spin doctors, and sycophants for the plutocrat class have somehow convinced the 99% that stocks going up makes more jobs for the little people.

nemomarx 1y ago

are stocks even going up outside of tech stocks that can benefit from AI investment? everything else seems stagnant

array_key_first 1y ago
No. And even in tech, its highly concentrated in AI. The S&P 500 is almost 10% Nvidia. Just Nvidia. Y'all that's scary.
- reactordev 1y ago
  It’s broken. They did this and think it’s ok, it’s not. It’s most definitely not.
- piva00 1y ago
  The Nifty Fifty concept from the 70s sound almost sensible compared to the bullshit of Magnificent Seven of now. The same cycle just goes around and around...

lotsofpulp 1y ago

SP500 is flat this year when you account for loss of purchasing power of the US dollar: https://ycharts.com/indices/%5ESPXEUR https://ycharts.com/indices/%5ESPXEUR

noir_lord 1y ago
Factor out the AI companies doing circular dealing to juke their stock price and GDP growth was like 0.1% combine that with purchasing power loss and US economy is net negative. It's pretty clear what happens next. Over 42 million people are about to lose their SNAP payments in 4 days[1] and millions more medical care. It's gonna get bad. https://www.bbc.co.uk/news/articles/c4g7d9j7p5qo https://www.bbc.co.uk/news/articles/c4g7d9j7p5qo
- drstewart 1y ago
  "Exclude data I don't like, combing it with other data that's unrelated in unknown ways, and voila: DOOM!"
- raw_anon_1111 1y ago
  The only publicly traded companies that are involved in what could be considered circular dealings in enough volume to affect their stock price are Nvidia and Oracle.
  - johnnyanmac 1y ago
    So, the company that, by itself, is 10% of the S&P 500. I never would have bet on an Nvidia crash alone being what causes the 21st century great depression, but reality is alwways stranger than fiction.
drstewart 1y ago
No it's not: https://ycharts.com/indices/%5ESPXCAD https://ycharts.com/indices/%5ESPXCAD https://ycharts.com/indices/%5ESPXJPY https://ycharts.com/indices/%5ESPXJPY https://ycharts.com/indices/%5ESPXCNY https://ycharts.com/indices/%5ESPXCNY Hmm, might have you cherry-picked some data?
- johnnyanmac 1y ago
  >when you account for loss of purchasing power of the US dollar: I see about a 10% growth in your charts and that's what experts estimate the loss on the dolar has been this year. What's the deal?
  - drstewart 1y ago
    The "deal" is that those chats are already adjusted to foreign currencies. That's 10% growth in those currencies. Maybe your experts aren't such experts.
    - johnnyanmac 1y ago
      Why are we pretending that other currencies also aren't falling? Those charts don't negate that suggestion. I'm no expert myself, but feel free to argue with them if you are: https://www.morganstanley.com/insights/articles/us-dollar-declines https://www.morganstanley.com/insights/articles/us-dollar-de... https://economictimes.indiatimes.com/news/international/us/dollars-10-slide-under-trump-has-cost-you-paul-graham-issues-stark-wealth-warning-and-explains-how-much/articleshow/124362402.cms?from=mdr https://economictimes.indiatimes.com/news/international/us/d... (note: This one comes from Paul Graham himself).

HelloMcFly 1y ago

The most pernicious part of the con is that by systematically dismantling pensions and forcing everyone into 401(k)s, they've ensured that we all have to root for the plutocrats. We're forced to watch our retirement funds, which means we're incentivized to hope Amazon's stock does go up after firing 14k (or 30k according to other sources) people. It's a system of forced complicity. We have to root for the billionaires, or we risk our own survival in old age.

reactordev 1y ago
Our survival in old age is guaranteed to be a shit show no matter your wealth. Social security won’t be there. Medicare won’t be there. Your one room apartment in your assisted living place will run you $15,000/mo. And still, no one gets out alive.
johnnyanmac 1y ago
Depends on how close you are to retirement. I'm not even halfway there. I'd rather think long term and legitimately fix issues in the economy. I don't need number to go up explosively every year.
deleted 1y ago
[deleted]