No. of Recommendations: 3
A good explanation of the so-called Greenspan put, sometimes called “Too Big To Fail”:
Gift link:
https://www.nytimes.com/2026/04/18/opinion/wall-st...
Why the Stock Market Makes No Sense Right Now
The stock market has been trying to ignore the war in Iran. That’s been true over weeks of escalation and de-escalation, cease-fires, a blockade, and a blockade of a blockade (now just a U.S. blockade). Markets have barely flinched, even as crude oil prices swing wildly each day and the world’s supply chains begin to shake.
The word to describe what is happening is “shrug.” The problem is not a lack of information. There is too much information, arriving in late-night social media posts and endless push notifications. These days when I see “Breaking News,” it feels like there’s an emphasis on “breaking,” in the sense of “Things are broken.”
The stock market has decided this available information is not relevant. That is a problem for all of us. President Trump deeply cares about the stock market, and if the stock market had been selling off, there is a good chance that this war would have been over a while ago. More broadly, the markets are showing the single lesson that the past 40 years have taught them.
It will always be saved.
The last half of the piece delves into the future with AI, and I haven’t absorbed it yet (first blush: doesn’t make as much sense as the first half), but there it is.
No. of Recommendations: 0
The stock market has been trying to ignore the war in Iran.
I was watching TYT last night, when Cenk went on a rant about the people on Wall Street being the dumbest in the world. The market seems to be floating, over the last six weeks, on near daily assurances that USian victory is imminent, and everything will be Jim-dandy...because that is what they want to hear.
Iran denies that it has agreed to surrender it's enriched U. This morning, the wire is buzzing with news that, as the US did not end it's blockade, Iran has closed the Strait again. Iranian gunboats, which supposedly had all been sunk, opened fire on a tanker this morning, to confirm the closure.
Woe to those who were shaken out of their positions in big oil Friday.
Steve
