MARKET NEWS
The Financial markets are creeping up as the 10-year bond rate is falling which are good signs for the economy as a whole. But only time will tell if it can stick. The Fed still plans on hiking interest rates in the coming months and that has investors a
little timid.
Elon has apparently agreed to
buy Twitter at the original price, and this set twitters stock price up, up, and away. Dogecoin also got pumped up because the news. This is just further evidence that the market is not tied to the production of anything and is only a reactionary force based on perception and supply and demand manipulation of stock and not goods.
Micron is going to build a $100B Chip
manufacturing plant in upstate New York thanks to the Biden Administration passing the CHIPS Act which aims to incentivize American made Chips. No, we are not talking about Doritos we are talking about computer chips, you know the things that have the whole world economy in disarray.
Tesla is not experiencing the uptick that the rest of the market is right now because it failed to ship as many cars
as expected. Despite the demands from certain late night comedy hosts and left-wing Politian's for people to just go and buy EV's. the reality remains the EVs are expensive, and the majority of people cannot afford them. The market must realize that Tesla is a luxury brand and does not currently have the ability to be mass producer the way that say a Toyota is.
A water company just received a $700M valuation. The company Liquid Death is selling water in uniquely designed cans. It is all about gimmicks. People are going to be spending money for cool looking cans that have water in it
that they could get for free from their tap. It's all a bit ridiculous but a gimmick is all you need in this world to make a buck. The one thing that this crazy valuation is pointing to is that the younger generations are much more health conscious than older generations. in some reports and studies, drinking is going down in younger generations mainly because they are concerned with not having a beer belly rather than being responsible.
Credit Suisse, a Swiss bank is believed to be short on cash because of a giant jump in Credit Default Swaps (CDS). This has investors really nervous as it is scarily similar to the Lehman Brothers Situation.
The SEC has fined Kim
Kardashian for promoting the Crypto EthereumMax which was considered sketchy business. It is laughable that people are taking financial advice from a celebrity with no expertise, but it proves a larger point that the entire market we have developed as a society is really a giant game of, he said, she said. The stock market works pretty much the same way as Crypto promoters like Kim Kardashian because in both cases people are just promoting an asset because they either want it to go up or
because they hope it will go up. No production of real goods is really ever a factor in the equation.
EVERYTHING ELSE
