Just trying to get a handle on the scope of the losses from the two day stock market rout. At $5T for the S&P alone this comes out to almost $15,000 for every man, woman and child in America. And this wasn’t an act of nature or even a bubble popping. It was a result of a policy decision by leaders at the highest level. I don’t see this being recovered any time soon, nor do I see it resulting in any long term gains for the country. And if anyone thinks this is going to have any sort of positive benefits, I would like to see an example of another time a similar huge drop in markets has been in any way a good thing.
Well the 2008 financial crisis flushed out Bernie Madoff. On a more macro scale, have you read Nassim Taleb’s book “Antifragile”? It’s a good read as all of his books are and talks about the subject you bring up in detail, namely shocks to a system being a good thing. D.N.
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