For some reason, people want to think that the actions of those gamblers "is the US economy". They think, when those gamblers panic, the US economy is going down the tubes.
Those people seem to completely ignore the REAL economy...people going about their daily lives, buying and selling and living...Main Street.
It's like those people think only the gamblers matter...not Main Street.
This is an outrageously hyper-partisan post that ignores the reality of the economy we all live and work in.
The stock market sets a company’s share price and overall value. While most trading is just investors swapping shares and doesn’t send money to the company, a higher share price makes it easier for the company to raise cash by issuing new shares or borrowing, which it can use to grow and hire more workers.
When stock prices suddenly fall, companies often pull back on new projects or let people go, which impacts the jobs and services we all use. Saying that Wall Street panics have nothing to do with everyday life ignores the fact that businesses depend on market funding to operate.
The stock market itself is also a signal. People are converting their assets to cash because they think the economy is headed for a severe recession.
The market and Main Street work together, not apart, so the idea that only gamblers don't matter and only "real people" matter is simply wrong. It's based on a false premise. Everyone is gambling. Everyone is gambling all the time. If you have a wage or salary job with company, you're gambling the company's not going to go belly up the next day!
It's important to remember, also, all capitalist economic activity is based on trying to make predictions about the future (i.e. gambling).
Gambling is not a dirty word. And the exciting prospect of making money on an uncertain business venture is what makes people get out of the bed in the morning. This is why people do business. This is what drove Trump to do his businesses. He had no idea if his projects would succeed or fail. In fact, he failed numerous times. And when Trump filmed his first pilot episode for The Apprentice, the only project he ever engaged in that was truly successful, he had no idea it would be successful! This is what excited Elon Musk to make his electric car company. Musk had no idea Tesla would be a success, in fact, he almost went bankrupt several times.
The entire economy is based on the notion of making a bet. So knock it off with this idea that gamblers aren't important, they are who drive the economy. You just think someone who has already become successful wasn't ever gambling in the first place, and that's not true. They were gambling the whole time from beginning to end.
Furthermore, we have more data aside from the information related to stock prices. All of the economic data and economic news indicates coming out recently indicates we are heading in the wrong direction, fast. Jobs are being cut. Projects are being cancelled. Manufacturing is down. Prices are up. The survey data is terrible. All of this data is not connected to the actual stock market, and all of this data is giving us more signals that Trump ****ed up and he ****ed up big time.
www.forbes.com
never waivering
