All they have to sell is fear, panic, resentment, strife, unhappiness and division. It’s their brand. pic.twitter.com/Ce0EHHEBdT
— Ron Filipkowski (@RonFilipkowski) August 5, 2024
The market hasn’t closed today, but the DJIA is presently down 1,023 points, or 2.58%.
To out that in perspective. DJIA is currently at 38,713. The 52 week high is 41,376. The 52 week low is 32,327.
NPR is reporting tech stocks are suffering the most, partly because Berkshire Hathaway sold half of their Apple stock. But Buffet praised Apple as a company, and said the sell off was part of restructuring their holdings. No surprise that sale moved the market, but mostly it proves the market is as stupid as a herd of easily spooked beasts. Not really an economic indicator, in other words. More an indicator that the market is not really the voice of God.
And I’ve seen my holdings get trimmed by 2% in one day without looking for a tall building to jump out of.
MAGA really doesn’t have anything to sell but panic.😱
Eventually democracies are going to have to protect themselves against market manipulations because if any one person could have that much of an impact, a conspiracy among several could destroy any democracy. And it's entirely certain the "free press" would be all in on that.
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