Krugman says it's because orangebadman has someone inside the Bureau of Labor Statistics fudging the numbers. First time in my life I've heard an economist suggest such bullshit especially when he was 100% on-board with the disastrous numbers over the past 2 months
remember this is the guy who claims his computer was hacked to download child porn...
here's his tweet from 1.5 hours ago (which he will probably delete soon).
This being the Trump era, you can't completely discount the possibility that they've gotten to the BLS, but it's much more likely that the models used to produce these numbers — they aren't really raw data — have gone haywire in a time of pandemic
Testament to the strength of the economy before the pandemic. Ironically Trump said the virus would, "just go away." and it did when the media had another anti-Trump story to focus on. People are going back to work and those that had jobs, enjoyed the bonus benefits. All of those people are going to spend money and wall street knows it.
...good and bad for me. I took some profits 2 days ago. most stuff I had was up 17-30% from when I bought...which was at least a week+ after the 3/23 bottom. some of the stuff I bought in late feb just got in the green this week...so I sold 75% of it (CTVA, etc). and it's continued to fly up.
but I work for a value shop...and all this cyclical stuff is killing our relative returns. almost wiping our ytd alpha. the last 2 weeks in particular. one of our funds was pretty much number 1 in peer rankings...and has now been smoked to 25 percentile
but I work for a value shop...and all this cyclical stuff is killing our relative returns. almost wiping our ytd alpha. the last 2 weeks in particular. one of our funds was pretty much number 1 in peer rankings...and has now been smoked to 25 percentile
It’s been going on for a while but yet the major players with lots of dough haven’t been buying that would move the market. One guy I like to watch on YouTube says all this is fishy Nd eludes to the Feds pumping money in the market and to be very careful as everything is speculative right now. If the economy roars out of the lockdowns then this could be the best setup ever for one hell of a recovery.
Democrats having a bad day Trumps economy up over 27,000 today...
https://www.marketwatch.com/
https://www.marketwatch.com/
Apple is about 35 cents from reaching an all-time high. All the indexes will reach new highs in a few weeks. This is all happening despite the thousands of small businesses that will fold. It's not like new jobs are being created. The amount of unemployed will remain much higher than it was before the virus. The "Piper" will get paid. Federal and state budgets will be slashed. People will be paying higher taxes. I fully expect my property tax to be raised in NJ. The market still isn't reflecting reality. Obviously people are returning to work. The carnage is still done and the consumer will be spending less money. The $600 weekly bonus is going to last forever.
