Justice Department Files Antitrust Lawsuit Against Google
Originally this post went up on the site at Noon on Oct. 20th but wasn’t emailed for whatever reason to everyone, so here it is in case you missed it…
Magnelibra Econemotions took a lot of flak years ago when we suggested that the DOJ would eventually have to break the tech companies up and slap anti-trust regulations on them because they were definitely wielding too much power and influence. That’s really what its all about isn’t? The control of information, the control of data flow, the control of narrative, the ability to limit or expand narrative intuitively and internally. This is what the Government should be limiting, this is exactly what the constitution strictly warns against, the absolute control of speech which leads further down the road to the ability for subversion to rear its ugly head. So today the WSJ put this out,
The Justice Department filed an antitrust lawsuit Tuesday alleging that Google engaged in anticompetitive conduct to preserve monopolies in search and search advertising that form the cornerstones of its vast conglomerate.
Here is the link to the WSJ ARTICLE GOOG/AntiTrust
Not that Magnelibra Econemotions needs accolades for being well ahead of the thought process, but we are glad at least this situation is coming to light, because the power of free speech is paramount to our Republic and we will always advocate for it.
As far as the markets today data courtesy of Tradingview.com:
BONDS: Yields up 2.8bp in the 30Y and 2.0bp in the 10Y with bond futures down across the board with the long end leading the way. US bond futures running into 173-16 supports which if closed below will lead to a new leg test lower:
EQUITIES: Equities being led by the Russell2k as its up over 1% vs a Nasdaq up .57%, the SP500 is running into the 50eMA at 3458 resistance today, the hurdle to a retest to 3504:
FX: US Dollar weaker today mainly on a strong Euro Currency with the rest of FX a mixed bag. 118-48 in the Dec. Euro Currency is the longer term 0.618 and a close above would continue this bull move that started down at 116-30:
ENERGY: Energy being led by RBOB +1.5% on the day:
METALS: Copper leading the way today +1.8% with Silver up as well as Gold is unch:
Finally readers know our positivity toward OKTA but the chart structure here isn’t looking so hot as momentum may be waning:
Ok good luck today!
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-Magnelibra Econemotions
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