Friendly reminder that the stock market is not the economy
this post was submitted on 01 Nov 2024
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It's basically a wealth inequality metric. The better the stock market performs, the more wealth is extracted from the lower percentiles by the upper percentiles.
But it is what they mean when they say the "economy" is doing well.
I uh. would not want to take credit for market performance this millenium.
I dislike the stock market. In the end, just like in capitalism, most of the companies profiting the well, are just the ones screwing over their customers the most. Of course there are exceptions, but that's the system. You only earn money if customers have to always pay more, not for the lightbulb that never pay. Focusing the economy on the stock market and its wellbeing denies the basic facts that we have a finite earth and that maybe the companies shouldn't be maximising the profits but rather look for their customers. It's sad, but the less you care about ethics, the easier it is to make money.
This might be a hot take (that's why I put it in a separate comment), but I think that the system is bad doesn't mean (in my personal opinion) that it's morally wrong to use it, at least if you take care that you don't invest in really awful stuff like coal. Especially since the rich ones use it, not using it just leads to a bigger gap between poor and rich. Living and wanting to improve the society doesn't mean having to reject it.
(I'm open for any arguments though.)
Can I see the same information under Trump?
It always goes up regardless. This isn't really a win. From what I can see they performed about the same under each.
You can decide if the steep increase November-January* was Trump or because he lost the election
Source: https://www.macrotrends.net/2324/sp-500-historical-chart-data
thanks, it's always nice to see both sides of some data
Stock =/= economy
Ah the economy. When it's bad, my costs go up. When it's good, my costs go up. The economy means Jack shit to us who are getting fucked regardless
Nothing to do with some epidemic