Hacker News new | ask | show | jobs
by geysersam 4 days ago
To be fair the value of the stock market is not a good indicator of progress. The US stock market is incredibly inflated.

Besides, it's a bit strange to argue that it's impossible to make a change, and as proof of that take the fact that there's been a big change over the last 20 years.
1 comments
joe_mamba 4 days ago
>To be fair the value of the stock market is not a good indicator of progress.

Where did I talk about it being "progres"? I said the value of the stock market represents economic leverage which the EU lost and is now at the mercy of foreign bullies with stronger economies(US and CHina). If you want your trading partners to respect you and your values and not back-stab you the moment you turn around, you need leverage over them(economic and/or military), otherwise everyone will walk all over you and take advantage of you and your citizens will lose prosperity proportional to your nation's loss of share in the global economy.

>The US stock market is incredibly inflated.

Doesn't matter in this particular point. If the US stock market pops, the EU's economy will suffer just as much or even more, just like post 2008.

The point was that EU is far too economically dependent to US and other major nations they hate but has no muscle and no leverage to do anything against them except post stern words on X while quietly folding like a deckchair to their demands.

link
geysersam 4 days ago
Call it progress, call it "economic leverage", a very inflated stock market is no good measure for either.

It's true the US economy has grown faster than the European in the last two decades, for sure, I agree with you. It's just that the apparent magnitude of the difference depends on what metric you choose, and I just mean that the value of the stock market seems like a poor metric.

link
joe_mamba 4 days ago
>a very inflated stock market is no good measure for either.

It absolutely is. If my assets are worth twice as much as yours, I have more options to mess with you, and you have less resources to fight me back.

It's how rich people can bully poor people in court. It's how rich countries can bully poorer countries.

link