Tag Archives: Money

The Stock Market’s “Trump Bump” Is Over | Markets Are Dumb 2

With today’s video we go all in on discussing the US stock market. There’s this idea that stock markets are somehow rational, or serious. People who talk about it are always wearing suits, and we put a lot of effort into making all the details of interest rates, portfolio management, and valuations seem boring. The stock market is none of these things. In fact it’s nuts. By going through the history of the “Trump Bump”, I attempt to draw the curtain back a bit.

Unfortunately, watching the video, I think I screwed something up. It’s not that the story I put forward is wrong, it’s just that I left too much out. The video falls into the “Presidents impact everything” school of commentary. I hate that school. The differing views market makers took of Trump and Obama are tremendously important to this particular economic story, but that doesn’t mean that presidents are actually all that powerful. I really don’t want to create that impression, and I apologize if I did so with this video.

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Video Transcript after the jump…

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Saudi Arabia Is Still Finished | Oil & Money | ELAI 33

Over the past year Saudi Arabia has experienced a perfect storm of factors in its favor. Asset prices in the US economy and elsewhere have gone nuts. Saudi Arabia is a country that owns a lot of stock, land and everything else, so that’s been very helpful. On the oil market front, the most important front there is for Saudi Arabia, they’ve had unprecedented cooperation on the OPEC production slow-down, and a series of competitors have given up millions of barrels a day in production due to sundry wars and dictatorships.

If Saudi Arabia’s ambitious plans for the future were ever going to work, 2017 would have been the year for it. But as this video shows, some of the key metrics that illustrate the hole Saudi Arabia is in haven’t changed much at all. As I said in last year’s video, and as I repeat in today’s video… Saudi Arabia is still finished.

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Why Marvel Makes Better Movies Than DC Does…

Today’s video talks about the ambivalent approach to the use of power we see in the Marvel Cinematic Universe. The Marvel movies are often as much about how great power hurts itself and what it aims to protect as they are about bad guys. The video lays out that the DC movies have none of this subtlety. As I think more about it though, I think I was too easy on the DC movies. These films are pro-US power, and even pro-torture in a very Trumpian, Fox News way.

A couple years back, with a review of Batman V. Superman, I talked about the main influence on the DC movies, a guy named Frank Miller. Frank Miller is an undisputed genius, but he’s got a world view that is deeply rooted in the 1980s. His vision is of a world that is being torn apart at the seams. In Miller’s world we need powerful people to do what’s necessary to face “evil” no matter the cost. This vision of the world made a lot of sense in the 1980s, with the constant threat of nuclear annihilation, and with US cities falling into an abyss of crime and drugs.

I am writing this from the heart of New York City, a place that is now safer than it was in the 1950s. Despite the US’s careful cultivation of rogue states, and the ever present threat of a dirty bomb, nobody expects human civilization to be wiped out anymore. I hate to throw this word around, but from this perspective, Miller’s vision looks more than a bit fascist. And that’s the perspective the DC films have adopted. Evil is everywhere. Power must confront it. And that power should not be questioned. You can see this world-view on Fox News every day, and you can see it in the speeches of Donald Trump.

After the critical and financial failures of Batman V. Superman, and Suicide Squad, the Warner Brothers corporate offices mandated that the films get more “optimistic”. But this pro-power perspective has continued in the DC movies, regardless. Last year’s “sunnier” Wonder Woman takes place during World War I. The film-makers don’t know anything about World War I, so they just portray the Germans as Nazis. This fits with the US foreign policy establishment’s lionization of Woodrow Wilson, and insistence that US power is always used for good. As someone who would love to see pop culture reckon more seriously (or at all) with World War I, I was pretty disappointed.

I may be over analyzing things here. The DC movies have been a mess, top to bottom, since Christopher Nolan finished his last Batman film back in 2012. But there are a lot of really, really bad ideas floating around in that soup of crap…

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Video Transcript after the jump…

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