STOCK MARKET WATCH -- Thursday, 22 December 2022

[bucolic_frolic]

1. End of year Tech Wreck underway

Absolutely smashed. I'm watching Micron, Intel, Alibaba, Uber. UK said to face 2 year recession, we've skirted one entirely. How is that possible? Fed is becoming Dovish, that's how. They are allowing inflation to run, and telling us they've got it under control. This is not a winning scenario. I'm beginning to realize Powell is a banker, and not an economist. Economists who study the 1970s, the Great Recession, would know this is going to end in one place because the Fed won't give the medicine of higher interest rates to protect the value of the US dollar. But in the end the Bond Market wins out. Property rights - interest payments, purchasing power - endure, but poor people will suffer from inflation forever.