No, it’s definitely it’s the stupid, economy. We have long been so dumb about the economy that the economy must be looking down upon us with disbelief. We have to tell it that we are stupid and make it realize that that’s what drives us. The poor thing can’t figure out whether to sit or stand what with our irrational behavior. Bill Clinton’s campaign coined the phrase I so ingeniously turned on its head in my title to this story, even if I say so myself. Bill Clinton wanted to focus the voters on the significance of the economy. All I am trying to do here is focus the economy on the significance of our stupidity.
Take the Coronavirus stock market, for example. How can this rash investing be explained in light of what’s happening? We are acting as if everything is peachy, but it isn’t. Professionals explained that “markets are forward-looking” and investors already accounted for the damage from the virus that’s to come in the next few months. Yeah, right. Then why are the markets swinging wildly at the mention of bad news? I don’t see the “forward-looking” part. Just today, a preview of what the U.S. Labor Department is likely to report showed that over twenty million people became unemployed in America in the month of April alone. The “forward-looking” market reacted instantly, which, in my opinion, renders the words “forward” and “looking” irrelevant because we’ve all seen the news of tens of millions unemployed in the recent past. Past isn’t forward, and we weren’t even looking, were we? Or, maybe, we were looking but commanded our selves to:
Maybe, wishing problems away can work if we keep doing it long enough that the actual economic turnaround materializes. That’s not to say that our wishful thinking is reality itself, or else we’d be in the twilight zone. I hope you aren’t going to seriously suggest that we are in fact living in the twilight zone. That would be decidedly butterfly net territory. You haven’t accepted butterfly net territory as the new normal, have you?
Someone else will work their backs off to one day make the economic turnaround happen while we keep egging our delusional minds on with the allure of pink hues, grassy meadows, and fuzzy bunny rabbits.
Major stock exchanges showing massive stock price gains while the economy crumbles is schizophrenic. I can’t imagine there’ll be no economic consequences of historic proportions following an unprecedented event like the substantial months-long shutdown. In the best-case scenario, the economy will be a shadow of its former self for a while, which hardly justifies the level of current investment exaltation. With tens of millions unemployed, who is going to spend the money to prop up Apple’s fortunes? Consumer spending is bound to drop.
I wonder if we ”forward-looked” into Coronavirus aftershocks or the possibility of a whole other virus outbreak that will shut the economy down again. How about just the aftermath of the ongoing virus battle – did we count the dead, the dying, and the likely-to-die, added that physical and psychological damage to the skyrocketing unemployment and price all of that in? Are we simply going to ”borrow” money from the future by way of government spending in order to plug any gaps until the house of cards comes crashing down? Did we decide it’s all good and factor it into current stock prices that are driving exchanges to their near highs? We are high, aren’t we?
But, we shouldn’t care. Act forever like it’s the Golden age.
Please, oh, please, dear economy, understand that we are mortally stupid and try to ignore us.
The rich with weak morals are feverishly working every imaginable angle to not allow a good crisis go to waste, which is painfully evident on the Capitol Hill starting with Mitch McConnell who is keeping financial assistance hostage.
The so-called one percent, who pay attention only to the opportunities for gaining greater powers, sidestep even the growing risk of their own demise should the lower classes who serve them buckle underneath.
The US government is pumping and the opportunists are dumping like in a stock pump-and-dump scheme when interest is artificially stoked to cause people to invest their money only to drive up the prices so that those in control can dump everything for astronomical profit causing prices to suddenly plummet bankrupting unsuspecting people.
Wouldn’t those in government who are in the know about the timing of the disbursements of the economic assistance stand to profit? If you know when and where the money will flow into the market, you would buy stocks just prior to it and sell when the price ticks up high enough, wouldn’t you? This could keep the businesses afloat, but it couldn’t do a thing about the lack of business. Instead, you would make people think the companies are gonna be ok and are worth investing in, which they are not. But that’s just what you’d need – lots of small fish foolishly putting their money in for you to take, for them to lose, all while they are stricken by the virus uncertainty and hanging by a thread. To hell with individual investors – let them lose everything they’ve got and drop dead, right?
It is as if the economically mighty cannot or will not see and the tiny cannot do anything about it. Can this metaphor be more appropriate than at a time when Donald Trump and company are occupying the White House while America is ravaged by the pandemic?
Maybe, those shallow, tone-deaf, somewhat evil “thoughts and prayers” messages are important after all. Perhaps, these messages that have been coming down from the current administration’s sympathizers are code for “we don’t give a f…” that all of us should heed. Could this new American life be trying to show us the middle finger in all its glory proudly pointing to what we get in terms of economic stability or any other aspect of responsible democratic existence? Like when the economy is on life support with PPE shortages and we trade as if our government is its savior?
Is that, by any chance, the stupid modern version of the survival of the fittest?
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