Black Monday

[Entrep]

I think you missed the point ; Despite all this digital grease potentially making lots of things easier (from worldwide communicating over rigging elections through to generating alternative facts) - none of these things satisfies humans basic needs.

Have a look at Maslow's pyramid of needs and have a hard think about how many of the lower level needs are provided by the current stock exchange darlings. Any?

The latest crisis caused a further dramatic increase of global inequality. Shares up (more money for the haves), und food supplies down (less for the have not's). We are producing at an amazing rate more have not's.

I think the current trend is likely to result in the not too far future into various revolutions (in its original meaning) - societies, stock markets, political systems will turn belly up. It is just the time of the seculum ...

Obviously - I don't know either how the future will look like, but I am pretty sure that most people will always prioritize food and shelter for themselves and their family over face book and twitter, which brings us back to Maslow and his pyramid of needs.

I hear you on this. I also think that social media is cancer and can be used to dumb down and control the masses.

[dobby41]

4 weeks later?? If it was there wouldn't it have spread by now??

You'd think so.
Sth Korea think the person contracted covid while in transit in Singapore.
NZ Health can't be 100% sure that they didn't have it when they left here so are being ultra careful (as we'd expect them to be). They have, though, classed the risk as low - but still a risk.
So if you have symptoms get a test - that's all they are saying.

[bull....]

US futures coming off , wonder if its a sell the news event

[Balance]

https://finance.yahoo.com/news/kodak...154009133.html

Short sellers getting fried.

This market can be so devastating if you are on the wrong side!

[bull....]

US futures coming off , wonder if its a sell the news event

sell - off in the broader market , the 6 main nasdaq stocks keep propelling that index higher and holding up the sp500 to an extent. i imagine the whole world will be in amazon , apple etc soon

[kiora]

sell - off in the broader market , the 6 main nasdaq stocks keep propelling that index higher and holding up the sp500 to an extent. i imagine the whole world will be in amazon , apple etc soon

A virtuous feeding cycle until it isn't then the whole world caught with pants down?

[Leftfield]

A virtuous feeding cycle until it isn't then the whole world caught with pants down?

As long as you have your supply of toilet paper you'll be right...

[bull....]

A virtuous feeding cycle until it isn't then the whole world caught with pants down?

history suggests you will be right at some stage. I find interesting how traditional correlations like when gold goes up stocks go down and when bond yields drop it is a sign economic conditions are to get worse and stocks should drop etc etc possibly no longer matter? .

it could all be as simple as so much money printing everything goes up .... even etherum 50 odd % in a mth who said crypto was dead lol

[Balance]

https://www.interest.co.nz/currencie...lanced-answers

A good read for those who are genuinely interested in assessing the way forward for NZ economy - will there be many black Monday’s ahead for NZX?

[moka]

https://www.interest.co.nz/currencie...lanced-answers

A good read for those who are genuinely interested in assessing the way forward for NZ economy - will there be many black Monday’s ahead for NZX?

Yes, I agree a good read. The article says “the Government needs to make some decisions and announce their ongoing support programmes (for those who genuinely need it) for the economy after the wage subsidy scheme ends on 1 September.”
They have - the COVID-19 Income Relief Payment - up to 12 weeks of payments, to help with living costs after a sudden job loss, and give you time to find other work.
You may be able to apply for the Income Relief Payment if you lost your last job or self-employment from 1 March 2020 to 30 October 2020 (inclusive) because of the impacts of COVID-19.
https://www.workandincome.govt.nz/covid-19/income-relief-payment/who-can-get-it.html#null

Good to see the government is targeting assistance and helping people and not just businesses or industry sectors. They frequently announce targeted on-going financial assistance including Covid-19 shovel ready projects and Provincial Growth Fund projects.

The article also says “the markets generally provide a clearer and more accurate picture of future conditions than economic forecasters.”
The share market is a very narrow part of the economy especially in NZ, and as we have seen in the States the share market is disconnected from the real (main street) economy.