STOCK MARKET WATCH: Tuesday, 9 April 2024

[Tansy_Gold]

STOCK MARKET WATCH: Tuesday, 9 April 2024

Previous SMW:
SMW for 8 April 2024



AT THE CLOSING BELL ON 8 April 2024


Dow Jones 38,892.80 -11.24 (0.029%)
S&P 500 5,202.39 -1.95 (0.037%)
Nasdaq 16,253.96 +5.43 (0.033%)

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Market Conditions During Trading Hours:

Google Finance
MarketWatch
Bloomberg
Stocktwits

(click on links for latest updates)

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Currencies:






(Awaiting new links)


Gold & Silver:

(Awaiting new links)


Petroleum:

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

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Quote for the Day:

Take, again, such a familiar case as that of a good system of taxation and finance. This would generally be classed as belonging to the province of Order. Yet what can be more conducive to Progress? A financial system which promotes the one, conduces, by the very same excellences, to the other. Economy, for example, equally preserves the existing stock of national wealth, and favors the creation of more. A just distribution of burdens, by holding up to every citizen an example of morality and good conscience applied to difficult adjustments, and an evidence of the value which the highest authorities attach to them, tends in an eminent degree to educate the moral sentiments of the community, both in respect of strength and of discrimination. Such a mode of levying the taxes as does not impede the industry, or unnecessarily interfere with the liberty of the citizen, promotes, not the preservation only, but the increase of the national wealth, and encourages a more active use of the individual faculties.

John Stuart Mill. Considerations on Representative Government. Harper & Brothers, Publishers. © 1861.

This thread contains opinions and observations. Individuals may post their experiences, inferences and opinions on this thread. However, it should not be construed as advice. It is unethical (and probably illegal) for financial recommendations to be given here.

[bucolic_frolic]

1. Understanding old texts like the JSM excerpt is sometimes a challenge

"burdens". Whoa. It's like he's discussing constipation.

Liquidity crunch? All the rah-rah bullish articles are saying there's never a bad time to invest.

https://www.fool.com/investing/2024/04/09/sp-500-bull-market-this-is-the-worst-investing-mov/

"With the right strategy, there's never necessarily a bad time to buy."

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Only said by those who don't consistently invest at the top. If they have to contort a bullish with that type of prose, call me cautious. I might nibble on a sector ETF or a story stock, but THIS is not the time for indexing. IMHO.

[Tansy_Gold]

2. They're also taken (somewhat) out of context

Disclosure: I don't invest and I pay little attention to either individual stocks or the markets in general; I just post the daily thread. And philosophically I lean far more to the socialist left than the capitalist center.

I don't select the quotes in advance, or even the source books. It's all done at the same time I post the thread in the afternoon, so I can pick something that at least a little bit pertains to the day's economic news and provides some food for thought on the subject.

Mill was, I think, more of a theorist than a practitioner, and how his theories apply 160 years later in a very, very different world economy requires adjustment. The burdens are different in a society where at least a substantial portion of the citizenry sees social justice as a worthy economic objective as compared to one in which poverty and its particular burdens were considered more an effect of individual moral lapses than the fault of a skewed economy. When you apply that kind of thinking to a national economy within a global economy that comprises other national economies with very different structures, you have to pull back and consider all the differences that impact those "burdens" and how to deal with them. I don't have the answers, but I think it's interesting to toss the questions out there.