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
Corporations are artificial entities that are constrained under law to prioritize the maximization of their stock value above all other values. This means that if people want to alter the behavior of corporations, they have to either force corporations’ behavior by changing law or by
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.
If our government has the resources to listen in on our private conversations, surely it has the resources to track how many of us are living without any place to call home. Let’s track that real economic indicator, and use that as a measurement of the health of the economy, and not just worry about the way that the Dow bounces around from day to day.
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.