Nothing even remotely surprising here.
https://www.cnbc.com/2026/10/22/stock-market-today-live-update.html
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@vivtek I don't. If you look at the underlying economy, there is literally only AI and data centers growing. Everything else has been contracting. It can't last.
@vivtek but the powers that have created this situation know it as well as we do. They're passing the same dollar bill back faster and faster and faster.
@fatsam It can't last, we agree on that. But it's lasted until OCTOBER SO FAR and that just blows my mind.
@davidgerard @cstross @vivtek September is historically the worst month for the stock market. October is second. I think we probably are past that bump, which makes 2027 likely.
@fatsam @cstross @vivtek the key to understanding is Dan Davies in "Lying For Money" about how frauds work: they spiral outwards, growing until they can't (if the perpetrators aren't caught first, but that doesn't apply here)
if it was market forces, the AI bubble would have gone by end 2024 (Zitron and I both gave that number)
fraud works differently. in this case it's a multipronged Enron where the imaginary book values of equity in private companies is load bearing for the holders cos they borrow against it.
it's increasingly obvious this stuff is squirrels and confetti but they can't get off this tiger
and there's *nothing* else to invest in
this is why i say stuff like "Great Depression 2"
Great Depression 2 just about nails it.
I'm going to add, a LOT of oligarch money going into securing a death-grip on power at any cost, boosting fascist head-bangers, and stifling protest movements. And it's not working. Riots in France, Serbia's government just overthrown by a student protest movement in a landslide election, Bolsonaro's US-backed run failed in Brazil despite vote-rigging attempts.
It feels a lot like France, 1788, only worldwide.
@fatsam I dunno. I find it pretty surprising that it's taking so long.