Markets stocks

‘Why Would Anyone Expect Stocks To Price Rationally?’ The State Of Exception Is Now Permanent

They say it promotes "transparency." It's important, they say, for the public to understand "the process."

They say it promotes "transparency." It's important, they say, for the public to understand "the process."
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9 comments on “‘Why Would Anyone Expect Stocks To Price Rationally?’ The State Of Exception Is Now Permanent

  1. Ria says:

    The US and global developed markets have become financialized. As a result, security market prices, which always fed back into the real economy, now have an outsized influence on the real economy and not the other way around. It is this partial or fully reversal in causality which in turn causes central banks to be in the position of backstopping asset prices. This is related to George Soros’ concept of reflexivity. RIght now there seems to be no way out of this black hole. A fundamental restructuring of the economy appears to be necessary to get out of this quandry.

  2. runamok says:

    Could be a solution here for how to fund the food purchases cards and UBI for the 40% of the 40,000,000 unemployed whose jobs are never expected to return. Increase the capital gains rate on what are now forever inflated asset prices. For asset holders, net it out so weatlh growth minus taxes are about same as today. Assets go up, wealth goes up, taxes on forever inflated assets goes up, net wealth about the same.

    An alternative is to wait for the pendulum to swing where assets are made to return to price discovery via epic rage express through political means. After all, these are exceptoinal times. We have to expect that as part of the cycle for this epoch, there will be a period of massive anger and resentment.

  3. George says:

    Only if permanent is redefined to include only the lifespan of the current Empire or some of us then and only then will it be a Permanent State of exception…

  4. RStantz says:

    Almost as if we are all being taken on a ride down the Mississippi aboard the Fidèle. . .

  5. Red says:

    My growing fear is the only path toward a true “reset” would involve a global conflict. That is obviously the worst case scenario, but the Chinafication of Hong Kong may be a bridge too far for global allies to allow happen without some sort of punitive response. Financial sanctions to start. Dominoes then begin to tip. Do we believe we have the leadership to keep the worst case scenario from occurring?

    • Will Smith says:

      Chinafication of Hong Kong is as clueless a postulation as Americanization of Texas

      😂 do u even have any high quality well informed Chinese friends to filter, muse and corroborate these historically out of context postulations ?

      And by high quality well informed I do not mean the Americanization of China types 😂

  6. So are you saying the girl with the umbrella is the problem? Hahaha, couldn’t resist.

  7. So from now on, everything is fake?

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