Corporate Media, a Cheerleader of Wall Street Facade, Spent Days Saying "META" and "MSFT" Lifted "the Market", But Their Debt Soared
Facebook's debt has never been higher (despite the many mass layoffs or supposed "cost reductions")
To be very clear, "META" and "MSFT" have growing debt [1, 2] (we'll write more about this soon), so this ludicrous idea "the market" is up (whose market anyway?) does not make sense.
As Ryan put it this morning, "the stock market is up again while they admit we'll start running out of things in a couple weeks. This is insanity."
An associate reminds us that stock prices are based completely on fantasy mindsets or LARPing with real money as game counters. "Firing software engineers makes a tech firms stock prices rise ... Stock buybacks are allowed ... Executive bonuses are based on stock price, and paid in stock ..." (and in the US you can sell short, not in other places).
The associate dubbed this "legalized gambling" but with rules slanted in your favour the more money you have.
Stay tuned as we'll write about the "hidden" debt crisis very soon (the cuts didn't solve the issue; debt with high interest isn't being repaid/paid back and the economy sank). We wrote about this some days ago in relation to IBM: IBM's Debt Ballooned by 8.5 Billion Dollars in Just 3 Months! █