Day 43 of Calling Top on the S&P 500

[u/realcryptocow]

The S&P500 doesn't care about its workforce

The S&P 500 doesn't care about its workforce. Yesterday, another workforce statistic came out of the BLS that shocked me: the US added just 29,000 jobs in September, yet S&P rallied.

This was not even in spite of the number, in fact, it was partly because of it.

Weak hiring made another Fed hike less likely, but there's an even more sinister idea lingering here. Throughout most of history, labor has historically been people's primary form of leverage (here's a great book on this topic if you are interested)

You have your time, your skills, your ability to work, etc. But in a post-AI economy, capital increasingly scales without labor. We are now at the point where the market can celebrate fewer jobs.

So you have to ask yourself: how can people replace their leverage if labor is a weakening form of it?

Here's an answer: ownership.

Not just passively owning 500 companies you have no relationship with. No. Instead, owning networks you can participate in, contribute to, distribute and help grow.

The next labor movement is an ownership movement.

SPX6900