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And yet the dow jones just passed 50K, an ATH. That makes no sense...unless the economy is an a sort of death spiral where companies layoff employees, then sto
by game_the0ry 8mo ago
And yet the dow jones just passed 50K, an ATH.
That makes no sense...unless the economy is an a sort of death spiral where companies layoff employees, then stock goes, then companies layoff more, then stock goes up, so on and so forth.
Ouroboros. The economy is eating its own tail.
- jeffbee 8mo agoIf you think of the DJIA as being denominated in dollars the ATH looks less impressive.
- hackyhacky 8mo ago> And yet the dow jones just passed 50K, an ATH. The price of stock is based in dollars. The value of the dollar goes down due to inflation, so the stock goes up, while not actually changing in value.
- game_the0ry 8mo agoTrue. It is actually doing poorly when priced in gold.
- hackyhacky 8mo agoWell, the gold market just collapsed, so this might not be the ideal point of comparison.