From Bill Bonner, Editor, Bill Bonner’s Diary:
GUALFIN, ARGENTINA – All hail the techs!
The stock market bounced back with a big gain yesterday. The buy-the-dippers gained a couple of points.
The future can wait; the big crash is still ahead.
Authority of Total Ignorance
Meanwhile, Bloomberg reports that Facebook is struggling:
Facebook Inc. is heading toward its worst month since May 2013 after an analyst report warned of a temporary pullback in advertising and the FTC confirmed it’s investigating the social network’s privacy practices.
The stock fell 1.4 percent to $157.14 at 2:35 p.m. Monday in New York, bucking the broader positive direction of the markets. Earlier, the shares fell as much as 6.5 percent, erasing about $100 billion in market value in the past 10 days.
What is the real value of Facebook? Snapchat? Twitter?
We have never used any of them. And we don’t watch TV. So