Thinking about this quote, from JPMorgan's Michael Cembalist, today:
https://www.jpmorgan.com/insights/outlook/market-outlook/eye-on-the-market-fifty-days-of-grey
https://www.jpmorgan.com/insights/outlook/market-outlook/eye-on-the-market-fifty-days-of-grey
Comments
The market is unique in all the ways that quote says, but it is a vote only by those able to afford shares. And votes are proportional to your wealth. It’s a dystopian form of representation that is antidemocratic to the extreme
Time for a big change in how the financial community works for the nation vs screwing it over
The quote definitely venerates the market -- which creates a different set of issues -- but in this case the unambiguous reaction of the market is welcome.
His bank knows this better than most.
That's what your news should be about.
Stock market has been invaded!!
If he wants to talk about it being an AI company create a new damn entity separate from the automotive business
But he knows that’ll crash Tesla right away
Musk is a fraud
But it’s hard to trust economic management by
an administration that (a) spends time/energy on a “strategic crypto reserve”, something that only materialized
after the crypto sector’s generous political contributions during the 2024 election; and (b) is now attacking the
CHIPs bill 8,
despite massive US reliance on Asian semiconductor exports. Chip company executives are
reportedly already calling lawyers to assess whether the administration can terminate signed contracts; the
Commerce Department has now laid off 40 CHIPs office employees, nearly a third of the team.
That was meant to be sardonic, but on reflection that barbed arrow flies truer than expected.
Financial experts: stay in your lane. Your political acumen is childish. This was entirely predictable, and there were many warnings. Fools.
How is the market a voting machine - politically, or economically - or both?
The market reflected stability after Trump won. This was wrong.
If they believed Trump would be good for the economy, then I guess this is what they deserve.
I wonder if grovelling mea culpas are too much to hope for?
I had many coworkers with 401Kx who didn't know what was going on with the market.
The market and every corporation exists at the behest of the government, which is supposed to exist at the behest of the citizenry
- David Gelles on "Neutron" Jack Welch and the GOP
Pretty sure whoever they say it is will most likely give a side eye and vigorously nod no.
But it is spot on. 👍
Too bad people didn’t take that film as the warning that it was meant to be instead of as a road map.
Ah well.
The flowers will bloom again.
☮️
I will add, however, that akin to the utterly irrational inflation of $TSLA, traders can be convinced to artificially prop up value.
These are bad ideas with negative consequences; but they can be and have been done in many places and times.
1. Surround Self with Billionaires
2. Fire employees
3. Surrender to Putin
4. Abandon Allies
5. $5 Trillion in Tax Cuts for wealthy
6. Increase Debt by $5 Trillion
7. Raise sales taxes $600 Billion annually
8. Cut Social Security
9. Slash Medicaid
10. Punish Disloyalty
Do not obey.
What an incoherent, nonsensical exercise in histrionics that doesn’t understand the underlying forces that determine a stock market.
It’s not a physical law, Mr Cembalist, we call it the ‘free market’ rather than ‘market’ for a good reason. Ponzi says ‘hi’ as well.
“The market can stay irrational longer than you can stay solvent.”
https://www.maynardkeynes.org/keynes-the-speculator.html
and one attributed a bubble to ‘irrational exuberance,’ but I wouldn’t want to quote him on just about anything else — b.rad
Why are they valued 10x GM and Ford and Toyota ?
Full self driving !
Waymo has licensed self driving taxis. GM achieved licensed self driving.
TSLA has not
FSD ! ( you drive it your self ! )