Van Jones said something interesting on Bill Maher

[applegrove]

last night. The stock market is only rising because of AI stocks and the accompanying AI bubble. Other than that the stock market is not doing well at all.

[paleotn]

1. Yep.

Stupid money always piles into any new technology, sending it's market value to crazy town. Inevitably, something happens somewhere. Perhaps something obscure. The proverbial straw that breaks the camel's back. Then all that stupid money rushes for the exits en masse, most of it getting slaughtered in the process. In a few years, rinse, repeat. Just in my lifetime, the dot com bubble, subprime housing bubble, now the AI bubble. But like the internet, it's not that AI won't be a game changer in many ways. It's still in its infancy and not worth those kind of valuations yet. A number of those companies won't survive as the technology matures.

As for the rest of the market, it has absolutely no reason to be doing well at all. Short and medium term, underlying fundamentals are shit. Time to move to safety, but that's just me.

[ProfessorGAC]

3. In Addition To Your Solid Points...

...companies pursuing AI are numerous with most having deep pockets.
It's unlikely there will be singular and dominant AI, and these hyper-valuations appear to be heavily based on an assumption there will be one big winner.
That appears very unlikely.
So, the competition is baked into the market.

[Silent Type]

2. Another thing he said is that Democrats should have signed the temporary extension to November. Then, when the big

insurance premium notices start hitting people, then go all out for reinstating all or some of enhanced subsidies.

But no one really knows how all this will work out, not with trump. We are in the shutdown now and will probably have to continue.