Google & Social media shares

As long as the largest companies are social networks and intangibles, the Dow is unhealthy.
FB is worth maybe a tenth of its market capitalization.
Google maybe a third.

Agreed, the Keynesian/Dupoy bubble economy has become THE economy of merit today. Real investors must be pissed but also happy to capitalize on all this nonsense.

Yes, And it seems Keynes made a weird, not so say suspect shift early on.

From his wiki page;

Quote :

He mentions ‘increased public works’ as an example of something which brings employment through the ‘multiplier’, but this is before he has developed the relevant theory, and the idea isn’t followed up when the theory becomes available.

Later in the same chapter he tells us that:

Ancient Egypt was doubly fortunate, and doubtless owed to this its fabled wealth, in that it possessed two activities, namely, pyramid-building as well as the search for the precious metals, the fruits of which, since they could not serve the needs of man by being consumed, did not stale with abundance. The Middle Ages built cathedrals and sang dirges. Two pyramids, two masses for the dead, are twice as good as one; but not so two railways from London to York.

But again the implied recommendation to engage in public works, even if they are not fully justified from their direct benefits, is not taken up when the theory has been constructed. On the contrary he advises us later that...

...our final task might be to select those variables which can be deliberately controlled or managed by central authority in the kind of system in which we actually live...

and this appears to look forward to a future publication rather than to a subsequent chapter of the General Theory.

But indeed public works have always been the engine to economic vigor, regardless even of whether it is done in a capitalist, a theocratic or a communist society. Working works.

The idea is to put valuing first, and allow value to accrue as a function of it.
Whereas managing an economy for its own sake must always lead to decline of value, as management is per definition a derivative operation.

Another reason for Trump to build a Wall and make it a monumental edifice.
Besides that, it is just keeping up;

9gag:

Pezer told me this about Venezuela too and Ive seen it in Brazil now.

In any case economy must be take as a function of industry, i.e. of will, not master over it or equated to it.
If a nation is constantly creating great works, there will never be a reason to worry over economy.

Of course governments alway come to realize this in the last moment, and start up a warmachine as such an invigorating public work. But we must make war against the void on principle, keep in motion the Uruzian creative drive.

The basic distinction is whether you want to destroy other powers to survive, or to become so great that others can form no threat.
The Cold War was the most magnificent period in human history outside of Atlantis, which is more significantly a potential future than a hypothetical past; of Cold War cultures are born, enmities grown frozen as in marble.... not festering but splendidly still, posturing like great cosmic lions opposed, whose flaming eyes meets to forge humanity from war between fires.  So America and the East are mighty booming forms, shaping humanity between them, as once were France and Germany on a smaler scale and over a shorter period of time.

Ancient dragon
about to be born
of the light in his eyes
and spoken word
of silent terms roaring
Fire

Fueling off Leonardo Da Vincis crashed chopper

Great forms shall arise in Paradise -
none shall vanish for endless nights

The interviewer now felt he had to write an apology on the FT for allowing Bannon to explain himself.
Bannon explains here the stock value of facebook as an identity-miner machine.