The Dow Jones Industrial Average, a measure of the value of U.S. corporate wealth, has been hitting record highs lately: But in a news release this month, the U.S. Department of Agriculture reports that the percentage of households with food insecurity remains historically high: That
The Irregular Index made impressive gains today, ending at 97.11, slightly off its high above 98. What does this teach you about the American economy? Well, at least as much as watching the Dow Jones fluctuate throughout the day would teach you.
The difference that’s been made now is that, along with the stock fluctuations, Wall Street firms are going to have 700 billion dollars more to play around with, and our nation itself is going to be 700 billion dollars further in debt.
In this rather mild market environment, we’re supposed to believe that Wall Street is in crisis, and needs hundreds of billions of dollars that we may never get back. It doesn’t take a genius to see the flaws in this assertion.