It seems the mega caps are holding up the indexes everywhere
And this illustrates your point on SPX. Yet the overall picture is completely lost on people enamoured by the magnificent 7 and use words like "things keep looking better every day". Such a statement only shows the true Mom and Pop investment expertise of the person uttering it.
huge bumper dividends paid out by the big cap stocks like BHP over the last 12 months. So, when those bumper big cap stock dividends go back to normal,
BHP's last report had profits down 50%+ mostly due to the fall in I/O prices, but if the Chinese construction industry goes into a recession, then expect profits and dividends to be less than normal.
And as for the "Milennial problem" you mentioned, when I was a teenager, youung men were signing up for diesel fitter/plumber/carpentry and all manner of trade apprenticeships nor because they necessarily wanted to work in dirty, hot or unpleasant envitonments, but because they saw an opportunity to obtain a steady solid income and have security. Driven mainly by the desire to work, so they could leave home and build a life of their own.
Now that attitude has been replaced by a generation of whiners that want clean hand jobs, and free snacks at works, free internet at work, and being allowed to use social media at work. All whilst staying at home living with their parents till they are into their late twenties. They complain that inner city areas shouldbe affordable do they can live there. Not all of them, but too many. Embarassing.
Just listen to this doomer. He's competely brainwashed by social media. Theres that "lay down" attitude. Apparently "America is like Afghanistan - no opportunities". Just lol.
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