February 5, 2018--How Sick Is This?

The Dow Jones Average Friday plunged 666 points. (Note the number.)

Searching for reasons, I found a few--

Since the Devin Nunes memo turned out to be what Bret Stephens in the New York Times called a nothing-burger it is thought that this means it wasn't going to be the get-out-of-jail card Donald Trump's enablers were hoping for. (Talk about a nothing-burger.) If Trump continues to be in peril, it's by definition bad for business.

Then, Alan Greenspan (remember him?) warned that there are currently two bubbles in the financial market--a bond bubble and a stock bubble. That about covers it.

When chairman of the Fed, except when he wasn't, he was considered to be infallible. Partly because of his job but also because, perhaps more important, his words were often intentionally incoherent and thus considered to be as if they were coming directly from the Oracle. As to why incoherent riddles might be considered to be wisdom, it is because the original Oracle's words were in Classic Greek, not Greenspan's metaphoric Greek, as in "It's all Greek to me."

Finally, most put forth as the explanation for the slide in stock values, was the clear evidence that after decades of frustrated waiting, workers are finally seeing an increase in their wages. Up 2.9 percent in January as compared to a year ago.

How sad, how sick is it that what's good for the struggling middle class is bad for business. That's not a nothing-burger. It's a whopper.