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I agree the stock market is a big influence of the economy. Stocks are massively overvalued. There’s not enough available cash in existence if there’s big sell off on a major stock like Intel. Hence the need to print money. If the Fed didn’t intervene, that illusion of stocks actually having cash value would vaporise.
We recently had Australian mainstream media talking about a slum in Australian iron ore sales to China and calling it sign of China’s property crash.
I wonder now if iron ore is trading within BRICS in a similar way and Australia is getting the cold shoulder for being the US puppet it is.