"Ooh, look, more companies! Santa Claus wouldn't say 'No', right?"

By Abolish Tenure
thursday, october 23, 2025 at 4:49:00 p.m. edt

"Ooh, look, more companies! Santa Claus wouldn't say 'No', right?"

zerohedge, 8:53 a.m. oct 23: "quantum-computing stocks rallied on a wsj report the U.S. is mulling buying stakes (Rigetti computing (RGTI US) +9.1%, IonQ (IONQ US) +8.7%)."

Oh, well. Better that than bailing out obamacare. One good thing on the onebigbeautifulsh*tsandwich bill is the end of the bailout of obamacare subsidies at tax time - but not starting until the 2026 tax returns. Right now, if you misunderestimate your income when signing up, you get a big subsidy. Then when you do your taxes and it turns out that you actually had higher income and weren't entitled to such a big subsidy, you have to repay the difference. But the repayment amount is capped. A lot of people never have to repay the entire shortfall. And by the time you file your tax return it's already april in the next year and you've already got four more months of excess subsidy.

The obbssb removed the caps. Now that's one little part of that ugly monster bill that is truly Beautiful. But congress will probably restore the "oh-never-mind, we'll just call it even" scam.

MORE STOCK MARKET PROPPING and kind of like "Universal Basic Investment Account," by the way - the so-called "Trump Accounts" in the obbssb. Obscene, absolutely obscene. "President Trump's sprawling tax law creates a new, tax-advantaged investment account prefunded with $1,000 for each child born from the beginning of 2025 through the end of 2028."

"Quoth The Raven" on substack has wondered what happens to the stock market when bad times hit. Right now, there's tons of quiet automatic inflows from payroll into 401(k). But if unemployment jumps, those automatic inflows stop - and a lot of people start doing some withdrawals ("because I need the money now, and I'm a financial illterate who wants government to take care of me like a child") - then the stock market goes oopsie.

Stay tuned for news. Bad news. Sometime. Hopefully not until after my lifetime.