alt Hacker NewsAnd yet the dow jones just passed 50K, an ATH.
That makes no sense...unless the economy is an a sort of death spiral where companies layoff employees, then stock goes, then companies layoff more, then stock goes up, so on and so forth.
Ouroboros. The economy is eating its own tail.
Replies
jeffbee • yesterday at 8:33 PM
If you think of the DJIA as being denominated in dollars the ATH looks less impressive.
> And yet the dow jones just passed 50K, an ATH.
The price of stock is based in dollars. The value of the dollar goes down due to inflation, so the stock goes up, while not actually changing in value.