I was intrigued to read an analysis of why the stock market closed at a record high of 9,012 points last night, as reported by various media sources. The record high is the result of three sectors doing particularly well. Those sectors are:
- Banking
- Defence
- Oil and gas
So, the stock market is celebrating banks exploiting those to whom they lend money by charging them excessive interest rates.
And it is celebrating our descent towards war, which can only have a very nasty end, because that, very obviously, is what it is designed to do.
At the same time, they are delighted that we are planning to end life on the planet at some point around the time when we probably see physical hostilities commence, which war can only hasten the process.
If you can find any good news in this, I wish you good luck, but I see none at all.
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I have always considered share value to be a proxy for exploitation so a new high feels entirely justified.
Well from a practical point of view, investment/finance wise, compared with holding savings in cash, probably better to have a little in a Stocks and Shares ISA index tracker than not, pound cost average if there are crashes/bubbles popping, might not agree with the market at all but if it can help maintain personal money value inflation wise…could always donate any profits to a worthier cause
The past is no basis for predicting the future is all I would add
Worst government at worst times.
Coincidence?
Matt Stoller posted about this phenomenon a few days ago, under the number go up rule. He was talking about the US, but it pretty much equally applies to Britain and other neoliberal ruled entities
https://www.thebignewsletter.com/p/the-number-go-up-rule-why-america
Ordinary, hard-working people prefer to save the small amounts they are able in a savings account or cash ISA because they simply do not trust those who own public companies, nor those who trade in or manage their shares. The corruption, fraud and outright theft from these individuals means the vast majority of households will continue to save their cash in safe places.
What do you mean by your statement:
“So, the stock market is celebrating banks exploiting those to whom they lend money by charging them excessive interest rates”
Thanks
They are inflating the value of banks based on the. exploiting people by charging them high interest rates.
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