Why the Davos Smart Set Sounds Dumb
Posted By: Dreadnought, 1/18/2024 8:23:42 PM
DAVOS, Switzerland — “The rich,” wrote Scott Fitzgerald, “are different from you and me.” By legend, Ernest Hemingway complimented his firm grasp of the obvious: “Yes, they have more money.” In a modern global economy, they also have more of other things: More invitations, more connections, more caterers. Here’s what they don’t have, most of them, any more than you do: Original or penetrating insights into the large political currents buffeting the United States and the world. Just what are these elites talking and scheming about here in the Alps at the annual convening of the World Economic Forum? It turns out they are talking (too crowded to actually scheme)
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“Fox News Alert here, as we take a look at the markets, and the U.S. Stock market continues to hit record high after record high,” she said, continuing:
You’re looking at a fresh 300-point gain on the Dow right now, hitting its highs of the session. The S&P 500, which is a snapshot of the broader U.S. Stock market, is hitting an all-time high, surpassing the previous record set two years ago.So, wow, there continues to be a lot of enthusiasm and a lot of optimism in the U.S. Stock market.
The stock market keeps scaling new heights as investors focus on the good and ignore the bad, no matter how bad the bad parts might look sometimes.
Prospects for a slowing economy, geopolitical unrest and turmoil in Washington aren't scaring market participants largely because none of those threats have turned into much in reality.
What instead has taken center stage is an economy performing remarkably well, inflation pulling back and a run of positive developments in Big Tech that has outweighed any what-ifs that the market has had to endure.
"If investors are looking for a reason to be negative, it's hard to find," said Mitchell Goldberg, president of ClientFirst Strategy,
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The better-than-expected reading in sentiment reported by the University of Michigan on Friday reflected a brightening of moods across all age and income groups, education and geographical locations as well as political affiliation. It suggested that Americans were finally warming up to the economy's resilience after much anxiety over high inflation, which has weighed on President Joe Biden's popularity. Consumers' inflation expectations over the next 12 months were the lowest in three years,
Rep. Ro Khanna vented against President Biden over working with Republicans on a border deal. Biden is desperate to move the needle on the demands of Republicans that border security get hammered out before they agree to vote on more aid to Ukraine.
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Biden has stalled about
Sports Illustrated employees were notified on Friday that a "significant number, if not all" of their jobs were set to be eliminated, according to a new statement from the publication's union.
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“The Defendant chose allegiance to former President Donald Trump over the rule of law,”
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The Military Committee chairman of NATO warned of the possibility of a regional war with Russia in the coming decades in comments to military leaders during a NATO meeting in Brussels on Thursday.
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Financial Stress from Migrant Crisis Threatens
to ‘Break’ Denver Hospital System,
CEO Says 23 replies
to ‘Break’ Denver Hospital System,
CEO Says 23 replies
A hospital system in Denver warned local lawmakers this week that it is on the brink of collapse due to financial pressures created by the migrant crisis.
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Global Positioning System (GPS) disturbances detected across NATO member Poland on Tuesday have sparked speculation of Russian involvement, following a similar incident in the region this month.
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Secretary of State Antony Blinken told Israeli Prime Minister Benjamin Netanyahu last week that Israel cannot defeat Hamas — that there is no “military solution,” and that Israel will have to accept a Palestinian state.
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Rice University is offering an 'Afrochemistry' class that promises to analyze science through a 'contemporary African-American lens'.
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The course description on the university's website explains students will 'apply chemical tools and analysis to understand black life in the US' and 'implement African American sensibilities to analyze chemistry'.
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An article by New York Post legendary gossip columnist Cindy Adams reports Barack and Michelle Obama are angling to replace Joe Biden with former First Lady Michelle as the Democrats’ 2024 presidential nominee.
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To combat chronic absenteeism, bipartisan
Ohio lawmakers propose paying kids to
go to school 27 replies
Ohio lawmakers propose paying kids to
go to school 27 replies
The bipartisan sponsors of a new bill to target chronic absenteeism want to model a piece of advice from novelist Jean Shepherd: “In God we trust, all others pay cash.”
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