Monday , June 17 2024
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$368 bln tax drain. A record!

Summary:
Market resilience has been impressive.

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Market resilience has been impressive.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

24 comments

  1. isn't in 388bln?

  2. @SirWilliamBaloney

    Zuck supports suppression of speech. I refuse Meta. Other places to make money.

  3. Im a bit bearish because unemployment is creeping up

    • According to the DTS unemployment payouts have actually been dropping all year long. $3.8B in January, $3.4B February, $3.2B March and $2.6B in April with only a week left in the month.

    • @@djangogeek That is weird because unemployment rates have been ticking up.

    • @@trent3727 yea according to the BLS its up from 3.5% in June 2023 to around 3.8% as of March 2024. Maybe there isn't a 1:1 relationship between the BLS data and payouts from the Treasury department, or maybe there is a lag? Definitely weird…

  4. @eatlaughandstupid4430

    you are the best, Mike! Thank you!

  5. Take a drink every time Zuck is called a nerd in this video 😂

  6. @milkshakeplease4696

    check out john searle chinese room experiment…a very strong argument against strong AI, but still AI will progress

  7. Interesting times.. thanks Mike

  8. Thanks for the words of wisdom coach!

  9. Sounds like we need to buy some META. Will be interesting to see how Google and Microsoft do. Thanks for the insights, Mike.

  10. @homeyoutubechannel6609

    Love the repetition. I find it helpful

  11. @jamesanthony5066

    great video thanks Mike!

  12. thanks mike for your views

  13. You the man Mike! Thanks!

  14. Mike … Ai is in uptrend right now but take it with a bit of salts in upcoming years. Quoting Linus Torvalds

    "Torvalds snarked, "It's hilarious to watch. Maybe I'll be replaced by an AI model!" As for Hohndel, he thinks most AI today is "autocorrect on steroids." Torvalds summed up his attitude as, "Let's wait 10 years and see where it actually goes before we make all these crazy announcements."

    Btw, people from Nvidia depends and works with Linux maintainers like Linus for their models. And you all know who Linus is

  15. It's true that Zuckerberg is ruthless, but he isn't innovative. He stole just about everything from other people or companies.

  16. @lemonrussian2929

    You said last week the market hadn’t bottomed and that we should expect six weeks or so of further declines. It doesn’t look like that’s going to happen now. Maybe a retest of the recent lows at best.

  17. How does mike applaud meta’s expensive investment in AI without considering the potential risks and downsides of doing so? It was just a few years ago meta collapsed to 88 a share cause Zuckerberg was obsessed with the metaverse and invested so much into that emerging field. Then when he finally admitted he was wrong, fired tens of thousands of employees and turned a 180, the stock recovered. The arrogance of Mike to assume everything will be a success and the market capitalization of overvalued mega cap will continue to go up is interesting to say the least.

  18. Good stuff Mike!!!

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