Most of you don’t own stock so most of you don’t follow the stock market. That said, the stock market has traditionally been held up for all to see as the, er, ‘barometer’ of the nation’s economic health.
Back during the first ‘crash’ of the stock market, many people had ‘blindly’ jumped into the stock markets to get a piece of the ‘easy money’ rising share prices generated.
While the story of those times SAYS few people owned stock, the opposite was true. Anybody who had two nickels to rub together had a few shares of some ‘up and coming’ company in their hip pocket as well.
While it is true that the average individual didn’t own a LOT of stock, almost everybody owned some…which is how the stock markets became the most widely watched indicator of economic health.
This brings us back to today where if you own stock chances are good that stock is in a mutual fund as part of your ‘retirement savings account’.
YOU don’t PERSONALLY own enough stock to fill a thimble, which is just as well as it is unlikely you will ever live long enough to retire…
The more likely prospect is not ‘work ‘til you drop’ but work until you’re discarded, then starve to death.
ANYWAY…What does the stock market have to do with either you or the economy?
Essentially nothing…BUT it will be used to, er, ‘convince’ you that the economy is circling the drain.
Take today’s action as a for instance:
Stocks Lower on Wall Street on Global Worries
After 23 Trillion in
What you need to wrap you head around is that 23 Trillion is 23 THOUSAND BILLION!
I think that needed to be pointed out for everyone who is making a ‘big deal’ out of the pithy 750 billion stimulus.
And if that’s not bad enough we need only look as far as Mr. Williams SGS site to learn that it would take ONE HUNDRED YEARS at a ONE HUNDRED PERCENT TAX RATE to pay off the deficit as it existed PRIOR TO the Gulf War and subsequent ‘financial crisis’.
I don’t know about you good citizen but I sure couldn’t go a hundred years without eating…nor would I be real comfortable with the idea of spending my entire life at the plant. (Since you wouldn’t have any money to commute with or to live off site your ONLY choice would be to live ‘on the job’.)
But wait a minute Slim! what’s this bullshit?
CEO Pay on the Rise
The chief executives of the largest U.S. public companies enjoyed bigger paydays in their latest fiscal year, as share prices recovered and profits soared amid the country's slow emergence from recession.
At these 456 companies, the median pretax value of CEO salaries, bonuses and long-term incentives, such as grants of stock and stock options, rose by 3% to $7.23 million, according to an analysis of their latest proxy filings for The Wall Street Journal by consulting firm Hay Group.
Investors made out well, too, with total shareholder return (based on the change in stock price plus reinvested dividends), coming in at 29%. The companies' total net income doubled from a year earlier to $510.9 billion.
Here’s your ‘puzzle’ good citizen. Why are the rich, rich? You guessed it, it is tied directly to their ‘stock holdings’. Why do stock prices keep going up? Because they keep bidding them higher!
How great is that? You can ‘bid’ yourself more money!
Like money itself, this is ALL bullshit!
Share price has no basis in reality (just as money has no ‘objective value’. There is NOTHING to compare it to! Before you say ‘gold’ keep in mind that it suffers from the exact same problem! You can’t compare gold to god; thereby proving it is worth a buck- three-eighty.) It is all SOME ASSHOLE’S OPINION…and what an asshole it is turning out to be!
We are being asked to suffer widespread poverty, nay, ‘destitution’ so that the conservative assholes can accumulate more than they need. (This is done mostly to keep their ranks…er, ‘exclusive’.)
Which is to say if ‘anybody’ could do it, what would be the point?
That’s the ‘mindset’ of the people in charge of this nation. It isn’t about ‘us’ it’s all about them!
(Which is again justified using the same ‘circular logic’ that ‘everybody’ thinks the same way!)
Perhaps this is the ‘root’ of ‘conservative disease’…it starts with thinking the worst of everyone, then with convincing yourself that everyone is like that!
Sadly, like the ‘talking to god’ shit, if you believe you know how others think, you’re more ‘psycho than psychic’!
Um, not to ‘alarm’ anyone but I do believe the time has come for the ‘crash’ that I predicted six months ago.
Like the relentless upward climb of the markets, the long overdue correction is about to commence.
Again, it is never a ‘straight line’ to the bottom (although there will be some ‘breathtaking’ dives for your viewing pleasure!
We will experience a period where stock prices will be ‘very appealing’ BUT, with no discernable economy at all on the horizon, only fools will buy.
I AM NOT a financial advisor nor do I own ANY stock. What I state above is my ‘opinion’ and it should be taken as such.
A ‘major correction’ was predicted within three months of August…and here we are.
Que sera, sera good citizen,
Thanks for letting me inside your head,
Gegner
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