alt Hacker NewsMy interpretation is that the stock market is just reflecting the rising value of power/influence assets relative to currency, which is to say, the falling value of currency relative to power/influence (which stocks are). Stocks aren't going up because the companies are that much better, they're going up because the macroeconomy is that much more fucked.
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gcr • today at 4:18 AM
How would you differentiate between currency influence and power influence?
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I submit exhibit 1: the US monetary supply. [1] We're 'printing' money like there's no tomorrow. Up ~6% in a single year, well over a trillion dollars. That's obviously going to make an economy look increasingly nonsensical.
I increasingly get the same feeling I did as back in the early 2000s when there were endless 'house flipping' shows on TV where somebody would go buy a house on an insta-improved loan, add some granite counter tops and mop the floor, then resell it within a couple of weeks for $20k profit and repeat. Not sure how people didn't see that was basically 'Bubble - The TV Show!'
[1] - https://fred.stlouisfed.org/series/M2SL