Comment by A_D_E_P_T
This is comical because economies have become totally divorced from hard reality and markets are now vibes-based.
Nvidia, Tesla, and Palantir (trading at 450 P/E!) are, among others, essentially meme stocks. But, for better or worse, the US economy is riding that wave.
The way to revive a moribund economy isn't to insist that markets must be rational and that hype should be tamped down. This never works, and I think that the rational market myth is dead. (You could make the case that BTC was the final nail in its coffin.) Instead, you've gotta find a way to ride the wave -- but wisely, so that you don't stand to lose too much if/when it slows or hits the breakers.
I don't understand why Palantir is always thrown in with the AI bunch. Yes, they market products using AI. But their core business is products and consulting for surveillance. I'm bullish for Palantir because I'm bearish on freedom. All major democracies are turning into surveillance states. And von der Leyen is making sure EU does as well.