Dow Approaches 30,0000 points: What’s the point?

[beaverdam]

Rumblings out of Mr. B camp suggesting 4, 6 even 8 week national shutdown beginning with his presidency starting in January. Story is, he plans a series of government payments like took place in Canada to get people through the shutdown period. Debit be damned.(just like Canada)

Maybe the market is up because of the announcements of two possible vaccines by year end,,, and the faint hope, the shutdowns won't be necessary and workers and business can stay open.

[Sodbuster]

You really have to wonder how this will end, I’ve even a seller last week and today, sitting at about 70% cash now and thinking what have I done. Been thinking of buying puts on the S&P 500 but haven’t had the balls to do it yet.

[errolanderson]

Will the Dow explode to 32,000+ if several vaccines go into production and distribution?

It really doesn’t matter where the Dow explodes to, the ultimate outcome is now the same.

The Dow is now just a inflated number with little economic meaning, This is now a trainwreck that has already hit the brick wall COVID or no COVID. Failure of credit markets will ultimately take this deck-of-cards down (IMO).

[tweety]

It really doesn’t matter where the Dow explodes to, the ultimate outcome is now the same.

The Dow is now just a inflated number with little economic meaning, This is now a trainwreck that has already hit the brick wall COVID or no COVID. Failure of credit markets will ultimately take this deck-of-cards down (IMO).

So what do you suggest to do? Take all your money out of the stock market and put into what?

[the big wheel]

So in reality the big reset if it happens might come either by governments wanting it to happen or it just might be inevitable given the mess that’s built up over time?

[errolanderson]

It's now estimated that 20% of U.S. companies are ZOMBIE companies. These are companies that can't generate enough income to even pay their interest debt, let alone make money. Big name companies that are mentioned as zombies include; Macy's, Boeing and Delta.

Some bankrupt company share values that have rallied ie: Hertz.

[Oliver88]

It's now estimated that 20% of U.S. companies are ZOMBIE companies. These are companies that can't generate enough income to even pay their interest debt, let alone make money. Big name companies that are mentioned as zombies include; Macy's, Boeing and Delta.

Some bankrupt company share values that have rallied ie: Hertz.

What’s the story with Hertz? Us farmers could of taken part in a good auction sale if they were forced to sell out.

[jazz]

https://www.bloomberg.com/news/articles/2020-11-17/america-s-zombie-companies-have-racked-up-1-4-trillion-of-debt America’s Zombie Companies Have Racked Up $1.4 Trillion of Debt

They were once America’s corporate titans. Beloved household names. Case studies in success.

But now, they’re increasingly looking like something else -- zombies. And their numbers are swelling.

From Boeing Co., Carnival Corp. and Delta Air Lines Inc. to Exxon Mobil Corp. and Macy’s Inc., many of the nation’s most iconic companies aren’t earning enough to cover their interest expenses (a key criterion, as most market experts define it, for zombie status).

[farmaholic]

where's errol???


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[errolanderson]

Dow Jones breaks 30,000 points today . . . historic highs yet again as the recession /depression deepens.

'Debt-doesn't-matter investor syndrome' as extreme greed now pushing equities . . .