S&P sets records

[PurpnGold]

@gooddad409

@conan

What about mainstreet…you know where most live on?

Little consolation to those on main street who are paying 30 percent more for groceries thanks to the insane wild spending of Harris/Biden.

Trickle down! Let the rich get theirs first then they promise to give you the leftovers.

[WuWei]

“We”?

[WuWei]

Thanks Trump

[WuWei]

Don’t try so hard.

No need to conflate unlike things. The peons don’t need higher wages, they need lower grocery prices.

[Liberty323]

In dollars, right? Because of the money printer being on steroids, it takes more of them to pay for the same stuff, so the “all-time high!!!” in everything that costs money (shares, houses, groceries) isn’t a flex.

[PurpnGold]

@WuWei

Don’t try so hard.

No need to conflate unlike things. The peons don’t need higher wages, they need lower grocery prices.

Deflation?

Trickle down isn’t about just wages… but you knew that. I hope.

[Adam]

@Gaius

Last time the stock market and housing soared like this
it turned out the the banks had been funding it via a lot of crappy on their balance sheets.

Good thing that’ll never happen again. (The government fixed it.)

Trying to remember, and I could be wrong, but last year weren’t you complaining about stocks being flat during Biden’s administration?

[WuWei]

@PurpnGold

@WuWei

Don’t try so hard.

No need to conflate unlike things. The peons don’t need higher wages, they need lower grocery prices.

Deflation?

Trickle down isn’t about just wages… but you knew that. I hope.

Is it about grocery prices? What else is it about?

[Gaius]

@Adam

@Gaius

Last time the stock market and housing soared like this
it turned out the the banks had been funding it via a lot of crappy on their balance sheets.

Good thing that’ll never happen again. (The government fixed it.)

Trying to remember, and I could be wrong, but last year weren’t you complaining about stocks being flat during Biden’s administration?

More like predicting.

The actual result since prediction?

• 496 of the S&P 503 stocks are up less than 3.5% (vs 3.2% inflation)
• 7 darling -boys commonly referred to as the “Magnificent 7” are responsible of 100% of the S&P beyond that.
  (They are listed below with their P/Es)
  

[Gaius]

PS I have read more than once that the Magnificent Seven should be updated.
Several at the top thrown off the list and several newcomers added.

[Adam]

@Gaius

@Adam

@Gaius

Last time the stock market and housing soared like this
it turned out the the banks had been funding it via a lot of crappy on their balance sheets.

Good thing that’ll never happen again. (The government fixed it.)

Trying to remember, and I could be wrong, but last year weren’t you complaining about stocks being flat during Biden’s administration?

More like predicting.

The actual result since prediction?

• 496 of the S&P 503 stocks are unless than 3.5% (vs 3.2% inflation)
• 7 darling -boys commonly referred to as the “Magnificent 7” are responsible of 100% of the S&P beyond that.
  (They are listed below with their P/Es)
  

So S&P at all time highs and up an amazing percent during Biden’s presidency. Got it.

[Gaius]

Well I certainly missed my prediction if that’s what you’re looking for.

I predicted zero. Zero period. Unqualified, unadjusted plain-old zero was my prediction
Yet the 496 returned 3.5% (before counting 3.2% inflation.)

For context:

The average yearly return of the S&P 500 is 10.733% over the last 30 years, as of the end of July 2024. This assumes dividends are reinvested. Adjusted for inflation, the 30-year average stock market return (including dividends) is 7.998%

Historical Average Stock Market Returns for S&P 500 (5-year to 150-year averages) - Trade That Swing

[GWH]

@Gaius

@tnt

S&P 500 Hits New All-Time High—First Record In 2 Months

but the economy…

That is to be expected.
The has NEVER kept more than 61% of GDP as cash on the sideline sitting in bank accounts, money market funds etc… As the excess COVID cash gets spent

• If it is spent on stocks, stock prices will rise.
• If it is spent on consumer items, consumer prices will rise.
• If it is spent on Monkey JPEGS, Monkey JPEG prices will rise.
  .
  .
  .
  The only question has ever been
  “Is spending out of pile of magic money from the Fed,
  the same as spending out of money made from making stuff and doing things?”
  History says it is not. History says one is sustainable (real) and the other is ephemeral smoke and mirrors.)

[Gaius]

Bored Ape NFTs recently sold for up to $3.5million.

Is that a sign that compbaies are doing well, and workers are doing well and retirees are doing well and the poor are doing well?

Or a sign that there is still too much leftover cheap money from the COVID era?

[GWH]

If it’s not a chimp reenacting a business setting or a classic movie, I ain’t buying.

Monkey-ed Movie: Die Hard

[Gaius]

Either Joe Biden and Senate Democrats did something to make Land In The Metaverse really really valuable, or the Fed printed too much money and as usual, malinvestment followed.

[Ben_Natuf]

please tell me people are not buying imaginary land. Do you use imaginary money for that?

[Jezcoe]

@Gaius

Bored Ape NFTs recently sold for up to $3.5million.

Is that a sign that compbaies are doing well, and workers are doing well and retirees are doing well and the poor are doing well?

Or a sign that there is still too much leftover cheap money from the COVID era?

By recently do you mean in 2021 at the height of that particularly stupid bubble?

[SixFoot]

These same socially retarded cat lady/boys are going screaming about the (R)ecession next month.

[Gaius]

@Jezcoe

By recently do you mean in 2021 at the height of that particularly stupid bubble?

Yeah, what causes bubbles?
a.) The president and Congress do a great job and make stuff more valuable.
Then they stop doing a great job so the bubble pops.

b.) The Fed starts cutting rates and cranking out money so people take money out of their bank accounts and money market funds and start spending it in wild and crazy ways, buying crypto, land in the metaverse stocks and over-priced consumer goods all in an unsustainable fashion at unsustainable prices.

c.) Something else.