If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it.
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman So true. We were just talking about this today. Guessing that 70% of the market is program trading. So they are all trying to front run how they think the actual people in the market will react to the news.
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@heidilifeldman So true. We were just talking about this today. Guessing that 70% of the market is program trading. So they are all trying to front run how they think the actual people in the market will react to the news.
@CavedaleRhones @heidilifeldman I've been thinking the same thing, that the current market is just betting on what other bettors will do later.
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman it's almost like the whole thing is a scam
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman I read it as “there are no smartest people in the room.” But day traders and brokers are certainly raking it in with all this nonsensical volatility. I suspect there’s a lot of psychology at work too. We voted for Trump because of cutting regulations and taxes so we have to continue believing in our fantasy that Trump is good for business and not a total fucking imbecile who hasn’t the first clue what he is doing to America and the world economy.
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
It used to be casino capitalism now it's devolved to ponzi capitalism. Just fleecing the rubes!
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System shared this topic
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
The stock market is cocaine for parasitizing billionaire gambling.
The house always wins.
It's original purpose of raising capital for new business has long been subsumed.
No, wealth isn’t created at the top. It is merely devoured there | Rutger Bregman
Bankers, pharmaceutical giants, Google, Facebook ... a new breed of rentiers are at the very top of the pyramid and they’re sucking the rest of us dry
the Guardian (www.theguardian.com)
GDP Without Goods: The Rentier Mirage | Michael Hudson
Neoliberalism blurred the line between output and overhead. In this conversation, Michael Hudson shows how land, monopoly, and financial incomes were reclassified as “growth,” why that distorts GDP, and how it fed deindustrialization.
Michael Hudson | On finance, real estate and the powers of neoliberalism (michael-hudson.com)
Corporate landlords are taking over society, making life unaffordable: Economist Michael Hudson explains why - Geopolitical Economy Report
Private equity funds and other Wall Street investors are buying up homes across the US and West, driving up rent and cost of living. Economist Michael Hudson explains how corporate landlords are a result of financialized capitalism.
Geopolitical Economy Report (geopoliticaleconomy.com)
The Latest Incarnation of Capitalism
Financialization isn’t a perversion of an otherwise well-functioning system. It’s just capitalism’s latest survival mechanism.
(jacobin.com)
UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism” - ProMarket
A new study by the United Nations Conference on Trade and Development argues: The “endemic rent-seeking that stems from market concentration, heightened corporate power, and regulatory capture” has spread beyond the United States, leading to the emergence of “global rentier capitalism.״ Earlier this year, a Stigler Center paper by Luigi Zingales [Faculty Director of the […]
ProMarket (www.promarket.org)
Gambling & betting shouldn't be counted as part of the GDP.
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman , but markets don’t price truth. Markets price estimated future earnings. You’re buying a return on investment, not a Zen master.
War is profitable. Expensive oil is profitable. Arms sales are profitable. Even renewable energy sources — solar panels and windmills — benefit from higher oil prices. Higher prices for fossil fuels mean renewables are automatically relatively cheaper.
It’s all in what you measure.
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The stock market is cocaine for parasitizing billionaire gambling.
The house always wins.
It's original purpose of raising capital for new business has long been subsumed.
No, wealth isn’t created at the top. It is merely devoured there | Rutger Bregman
Bankers, pharmaceutical giants, Google, Facebook ... a new breed of rentiers are at the very top of the pyramid and they’re sucking the rest of us dry
the Guardian (www.theguardian.com)
GDP Without Goods: The Rentier Mirage | Michael Hudson
Neoliberalism blurred the line between output and overhead. In this conversation, Michael Hudson shows how land, monopoly, and financial incomes were reclassified as “growth,” why that distorts GDP, and how it fed deindustrialization.
Michael Hudson | On finance, real estate and the powers of neoliberalism (michael-hudson.com)
Corporate landlords are taking over society, making life unaffordable: Economist Michael Hudson explains why - Geopolitical Economy Report
Private equity funds and other Wall Street investors are buying up homes across the US and West, driving up rent and cost of living. Economist Michael Hudson explains how corporate landlords are a result of financialized capitalism.
Geopolitical Economy Report (geopoliticaleconomy.com)
The Latest Incarnation of Capitalism
Financialization isn’t a perversion of an otherwise well-functioning system. It’s just capitalism’s latest survival mechanism.
(jacobin.com)
UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism” - ProMarket
A new study by the United Nations Conference on Trade and Development argues: The “endemic rent-seeking that stems from market concentration, heightened corporate power, and regulatory capture” has spread beyond the United States, leading to the emergence of “global rentier capitalism.״ Earlier this year, a Stigler Center paper by Luigi Zingales [Faculty Director of the […]
ProMarket (www.promarket.org)
Gambling & betting shouldn't be counted as part of the GDP.
@heidilifeldman @Npars01 The stock market is a gambling enterprise for speculators only. And speculators are a cancer for the public good. Fuck “capitalism”
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The stock market is cocaine for parasitizing billionaire gambling.
The house always wins.
It's original purpose of raising capital for new business has long been subsumed.
No, wealth isn’t created at the top. It is merely devoured there | Rutger Bregman
Bankers, pharmaceutical giants, Google, Facebook ... a new breed of rentiers are at the very top of the pyramid and they’re sucking the rest of us dry
the Guardian (www.theguardian.com)
GDP Without Goods: The Rentier Mirage | Michael Hudson
Neoliberalism blurred the line between output and overhead. In this conversation, Michael Hudson shows how land, monopoly, and financial incomes were reclassified as “growth,” why that distorts GDP, and how it fed deindustrialization.
Michael Hudson | On finance, real estate and the powers of neoliberalism (michael-hudson.com)
Corporate landlords are taking over society, making life unaffordable: Economist Michael Hudson explains why - Geopolitical Economy Report
Private equity funds and other Wall Street investors are buying up homes across the US and West, driving up rent and cost of living. Economist Michael Hudson explains how corporate landlords are a result of financialized capitalism.
Geopolitical Economy Report (geopoliticaleconomy.com)
The Latest Incarnation of Capitalism
Financialization isn’t a perversion of an otherwise well-functioning system. It’s just capitalism’s latest survival mechanism.
(jacobin.com)
UN Study Warns: Growing Economic Concentration Leads to “Rentier Capitalism” - ProMarket
A new study by the United Nations Conference on Trade and Development argues: The “endemic rent-seeking that stems from market concentration, heightened corporate power, and regulatory capture” has spread beyond the United States, leading to the emergence of “global rentier capitalism.״ Earlier this year, a Stigler Center paper by Luigi Zingales [Faculty Director of the […]
ProMarket (www.promarket.org)
Gambling & betting shouldn't be counted as part of the GDP.
@Npars01 @heidilifeldman
The Jacobin article has a sobering figure:
"The “rentier share” increased from 4 percent to 14 percent of total income between 1970 and 2000. Financial profits increased by a similar magnitude over the same period. These trends are linked: much of finance’s modern activity is little more than rentierism."
I wonder what it'd be now. -
If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman my whole life, I have been of the opinion that stock markets are just group-think emotionally-driven gambling dens. I have never understood why people subscribe to the idea they're a good thing or why they have been allowed to dominate so much of modern life. I wish they could be regulated back to being a fringe activity on the edge of the business world.
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman Wall Street is no longer interested in truth, only what sells more stocks.
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman
In my lefty brain an idea has been stewing:
A stock market that does not allow selling stocks within a month or buying them, and vice versa.
And bans stock buy-backs by companies.
What else would be needed?
1/3 of the boards being appointed by the employees? -
If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman Well…. no…
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
@heidilifeldman There are no efficient markets.
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If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
Kinda shows the similarity to sites like polymarket or kalshi. I am just watching John Oliver from last night about these.
And all three just claim not to be gambling sites and therefore must exist... -
If we needed any further proof of the inefficiency of the U.S. stock markets, the fact that they gain value based on ANYTHING Trump says about this war on Iran really clinches it. An efficient market would supposedly sort for truth.
A thousand times this
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R relay@relay.mycrowd.ca shared this topic
