this post was submitted on 26 Sep 2024
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And it's dumb. It says all you need to know about the ethical integrity of most economists. Lying for profit.
Jesus fuck no, it's a valid graph. It shows the relative trend over time and the sudden change. It may show less of a change if it was zero based, but a drastic change that is well off the normal trend is important to visualize. Also like, all exchanges have a toggle to flip to the zero based.
Look at this thread and realize that it's just a lie. You can show the exact same information with a starting at zero graph, but won't be able to push the “stock is tanking!” panic point. Publishers and marketers do this on purpose to manipulate headlines. This is why the stock market is mostly just high stakes gambling. No one involved is making rational decisions, just moving from panic to mania like psychotic patients.
If you are not in for the dividents or the voting privileges stocks are always a game of "I hope someone is dumb enough to pay more than me for these shares".
Or someone else is in it for those things.
Markets aren’t based on one party being dumber than the other one. Markets work because different people value different things.