The Stock Market Not a Reflection of The EconomyWe are living through the greatest economic expansion in American history. It has become very clear to me that the stock market is no longer a measurement nor reflection of the health of the "real economy" where average everyday people make their income. If it was then the federal minimum wage should be over $30 an hour compared to economic gains our economy has made in the past 30 years. The full-time and part-time employees, freelance and gig economy workers, and your average mom & pop small business owners will continually become displaced and outsourced as automation technology grows and the elite multi-national capitalist dramatically cut their labor cost through automation this decade & beyond.
We've hit the top 4.236 of this Fibonacci cycle I have going from the high of December 2007 to a low on November 2008. 13 years and growing of financial prosperity on paper but not so much in reality.
The gap between the rich and the poor have never been more grotesque in the history of capitalism. Our government is in the practice of creating infinite amounts of money that some how never gets to the people that actually are in desperate need of financial resources. That seems like a recipe for disaster and social unrest to me. Don't even get me started in the tsunami of inflation that will be coming.
If we drop coming back down to 1.618 may be a decent support area for the market (we dropped to the 1.618 during COVID-19 Quarantine). That would be a 56% retrace from these current levels. Can we actually keep the economy growing from these levels once the infinite money creating stops? Or will it ever even stop at this point?
