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Journalism and other myths.

Where Do Stocks Go Now?

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Stocks appear to have stabilized after a rough week. But several questions remain. Was this a one-time shock event, or is it a correction? And if it’s a correction, how low can things go?

We can be sure that what has happened so far is not an isolated event, but part of a major change in the regime from loose, cheap money to a more normal economy. Corporate profits are high, and America is taking care of business, so there’s no apparent reason to be terribly afraid.

Yet the change is significant, and precisely how significant will not be clear for some time. Here is what to watch for as stocks and other markets absorb the change and make a transition into a new economy.

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Why Stocks Are Falling

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As the eight year old bull on Wall Street is slaughtered for its meat, several questions come to mind. Is the fall likely to continue? Where will it stop? And, for those on the sidelines looking to score political points, who is to blame?

The answers to these questions are easy and a little terrifying. Yes, this is going to go on for a while. It may not stop until a lot of money is lost. And while you can’t blame anyone for actions which are cyclical, you can blame those who make things worse. The US economy is a large engine, and any good mechanic knows that while you can do a few small, smart things to make it run better it is much easier to really screw it up.

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DACA Debacle

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Should the Democrats push hard on the Dream Act, fighting hard for those who need them and never giving up? Or should they bide their time, crafting whatever small deals they can to save as many people as possible?

There is nothing more repugnant than to put the words “play” and “DACA” in the same sentence, yet that is where we are. We have to know how to play DACA in order to do as much of the right thing as we can. There’s nothing new about this, given that all legislation has to be “played” through the system in Washington. The problem with DACA is that it has become an oversized issue full of pointless symbolism, stripped of its real essence.

This is about the lives of hundreds of thousands of good, decent, and innocent people.

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Fractured World

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How many articles will you read about the annual conference at Davos? How many will miss the point?

If you are a news junkie, the answer to the first question is “A lot.” The answer to the second question, sadly, is about the same. In a polarized world where everyone is more enthralled with their own opinion than any sense of objective truth most of what will be written on this conference will be colored.

And that’s a damned shame, because Davos has evolved into Ted-talk-o-rama. It’s really accessible and interesting – and worth reading up on whether you agree with the presenters or not.

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Imagine … Better?

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One year into the Trump administration, and we have a lot to be thankful for. Yes, it’s true, it’s always good to warm up the crowd by opening with a joke. But seriously folks, is it possible to even look back and imagine a normal presidency at this point?

Everything has forever changed in the United States as a result of Trump, or more to the point everything is going to have to change. This should sound like good news to a nation that never looks back but it means there will be a lot of work ahead undoing the damage when the time comes. As we wait for that opportunity, this might be a good time to imagine how things can or should be different.

Let’s imagine a happy place for a moment with a functioning government and a universe of possibilities …

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