Traders know it is bullshit, but they know the expectation is that the market will rise on the back of bullshit news and so they buy and we really should stop announcing the stock market daily movements on the nightly news.
Greg Jericho
The President just said we're on the cusp of a deal with Iran.
Today's post explores two fun facts:
1. It's the fiftieth time he's said this. (I counted!)
2. Even so, stocks rose on the news.
newsletter.platypuseconomics.com/p/how-to-pri...
For the 50th time this year, we're on the cusp of peace. Apparently.
