I didnt hear anything about stocks “rocketing” or “soaring to the top” last week either.
“The only news is bad news.”
Otherwise, it would be “good” news, or useful information. What one has to understand about the “news” business is that it is to sell you useless information for “free,” so that you need ever-increasing more information, until you are so overburdened and overwhelmed with raw data, you can’t see the truth of anything.
All prices are “impermanent,” and so rises and declines are not “temporary,” but the truth of the matter for the present. Economies change and grow, and so what is needed and profitable to do changes and evolves. That is reflected in stock market prices as an indicator of what is profitable to invest in at the time.
Right now, money is shifting out of the tangible assets like real estate and commodities and moving back into other innovations for adapting to the world. In many places, real estate has risen so fast and so high that nobody can afford to buy it anymore — and so it is unlikely to continue higher.
The better deal is to move to places of opportunity — like Texas, Ohio, Pennsylvania, North and South Carolina, New Orleans, etc., and avoid the high priced communities in which one’s entire salary goes towards the rent. Meanwhile, there are always places where the living is “free” — by comparison. But those places eventually get discovered and fully valued and creates the next sector “rotation.”
The strength of the economy is this diversity — to shift resources from and to productively with some dislocation and trauma until people figure out what the “market” is trying to tell us. Foremost, the market (prices) is information of what is economic to do — rewarding those who move in the direction of greatest opportunity and no longer rewarding those still trying to make a buck essentially perpetuating the problems of society.
These shifts are fundamentally healthy, causing and enabling the development of resourceful people who get better at processing information — so much so, that it is obvious that the old sources of information (mainstream media) now seem vapid and irrelevant but are still used by the demagogues of the world thinking to exploit it one more time before it disappears entirely.
That’s one of the big themes the old media is not going to report on because it is the news of their demise and passing.
“The kind is dead; long live the king.”