Injection of trillions, low Fed Interest rates almost free (now zero rates, i.e free) helped the stock market soar and insiders to take their money of the table. Middle class Tax payers, Pension funds, the small retail stock buyers are left holding the bag.
I expected a probable drop to 20K and a somewhat probable to 15K. The collapse and drop even surprises me, and other skeptics. Now even 15K seems highly probable. Thats why I say read alternative media, like ZeroHedge, RT and Unz (aka Fake news) to see the other side of the spin.
Boeing:
When Boeing management said it was the fault of foreign pilots (in other words non white) spelt their own doom. I said Boeing should drop below 100, I did not expect this fast. Hedge fund operated Boeing, cutting corners to maximize profits. Stock buybacks, were the norm to push up stock price. Investment in safety measures, research and development, was not part of management decisions.
Maybe Trump will inject money into Boeing to get the stock price up. The insiders will sell. Retail idiots who believe Boeing is a great American Company will buy, not knowing Hedge Funds, Bezos and the like are not real Americans, i.e. those who care about the deplorables and others.
Now Trump, like the Boeing guys wants to deflect his responsibility, saying racist Chinese Virus. I think going to end much like the Boeing management.
Unhappily for the US, the alternatives in leadership are equally horrible. Biden another Trump probably worse, in the stages of Dementia and will be a puppet. If Sanders is able to get the nomination (anyone opposing Trump will win), he will be blocked by his own party the Democrats.
Update 1:
Matt Stoller, The Nation. From 2011 (!), still germane:
There’s a good amount of grumbling about the state of American infrastructure—collapsing bridges, high-speed rail, etc. But American infrastructure is not just about public goods, it’s about how the corporations that enforce, inform and organize economic activity are themselves organized. Are they doing productive research? Are they spreading knowledge and know-how to people who will use it responsibly? Are they creating prosperity or extracting wealth using raw power? And most importantly, are they contributing to the robustness of our society, such that we can survive and thrive in the normal course of emergencies?
Dow Jones (DJI)
When Boeing management said it was the fault of foreign pilots (in other words non white) spelt their own doom. I said Boeing should drop below 100, I did not expect this fast. Hedge fund operated Boeing, cutting corners to maximize profits. Stock buybacks, were the norm to push up stock price. Investment in safety measures, research and development, was not part of management decisions.
Maybe Trump will inject money into Boeing to get the stock price up. The insiders will sell. Retail idiots who believe Boeing is a great American Company will buy, not knowing Hedge Funds, Bezos and the like are not real Americans, i.e. those who care about the deplorables and others.
Now Trump, like the Boeing guys wants to deflect his responsibility, saying racist Chinese Virus. I think going to end much like the Boeing management.
Unhappily for the US, the alternatives in leadership are equally horrible. Biden another Trump probably worse, in the stages of Dementia and will be a puppet. If Sanders is able to get the nomination (anyone opposing Trump will win), he will be blocked by his own party the Democrats.
Update 1:
Matt Stoller, The Nation. From 2011 (!), still germane:
There’s a good amount of grumbling about the state of American infrastructure—collapsing bridges, high-speed rail, etc. But American infrastructure is not just about public goods, it’s about how the corporations that enforce, inform and organize economic activity are themselves organized. Are they doing productive research? Are they spreading knowledge and know-how to people who will use it responsibly? Are they creating prosperity or extracting wealth using raw power? And most importantly, are they contributing to the robustness of our society, such that we can survive and thrive in the normal course of emergencies?
The answer to all of these questions right now is “no.” And while
this may not be hitting the elite segments of the economy right now,
there will be no escape from a flu pandemic or significant food
shortage. The re-engineering of our global supply chain needs to
happen—and it will happen, either through good leadership or through
collapse.
Note, again, the date. Stoller: “This stuff was obvious, except to economists.”
https://www.thenation.com/article/archive/how-america-could-collapse/
Note, again, the date. Stoller: “This stuff was obvious, except to economists.”
https://www.thenation.com/article/archive/how-america-could-collapse/
Dow Jones (DJI)
