icedquinn, 3 months ago

@pasture microloans to buy groceries
we swear we aren't a third world nation though

tk, 3 months ago

@icedquinn @pasture "The economy is doing great! Just look at the stock market!"

icedquinn, 3 months ago

@tk @pasture violence upon pundits who equate NASDAQ to anything other than rich people speculating for profit

icedquinn, 3 months ago

@tk @pasture like i guess in a deranged way you can use stock quotes, and traders do, by like making your own index of "here's every business in transportation" or "here's every business in food" and then those going up or down can kind of forecast how speculators feel about food and shipping, but they ... don't. it's just like

oh naw the top 100 corpos took a shit/puffed up their stonks, this somehow means anything to john q public

lifts, 3 months ago

@icedquinn @tk @pasture Some would say that the incentives of stock traders taking longs mean that if they’re buying a stock, that reflects prosperity of the firm and therefore the employees. Such pundits are more than welcome to defend their argument from their free forced vacation to Proxima Centauri. (I wish them well.)

icedquinn, 3 months ago

@lifts @tk @pasture i kinda just meant how pundits use the general stock index as some indicator of how well the country is doing

but yeah long positions are fine. its the short sellers that cause the problems there.