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Everything Is Wrong In The World. Except For Stocks. The Stocks Seem Fine.
Pretty much every, single headline out of the US on Tuesday was some combination of disconcerting an
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Futures point to further gains on Wednesday, looks like markets will continue grinding higher until we get some good news…
lol
I find it interesting that I’m still desperately trying to understand what the stock market is ‘saying’ and apply its logic to the world around me, when a more thoughtful individual would have long since given this up as a lost cause. Is it even plausible to assert that the US market somehow embodies a dynamic outlook for the economy or that it serves as real-time, aggregate DCF for its constituent parts? As it stands the S and P is , in effect, a closed, self-referential system, with the Fed arguably within its boundaries.
If I can just hold on to that reductionist thought, I’ll stop sending myself mad trying to rationalise why it would think there’s a V-shaped recovery around the corner. Or why Trump’s re-election would be good for the economy.