Posted on 01/25/2016 7:34:22 PM PST by Citizen Zed
The prevalence of such stories encourages a gross exaggeration of the importance of the Chinese economy for our markets. Consider that United States exports in goods to China have recently accounted for only six-tenths of 1 percent of our gross domestic product. (United States imports in goods from China, though about four times bigger, are still relatively small as an overall proportion.) But once story-based thinking gets started, there is comparatively little public interest in such numbers.
(Excerpt) Read more at mobile.nytimes.com ...
I find it hard to believe our GDP has only 2.5% from china
The stories ( explanation ) always come after the movement up or down has already occurred. The WSJ is the obituary of financial news.
Subtract Fed QE/printing/pumping and a fair value for the Dow would be 9300 and the S&P at 1100.
The Market was so free that anyone could buy or sell anything they wanted.
Some people decided to buy politicians.
Soon there was no more Free Market.
The End
Moral of the story: Libertarians are dupes or shills.
You need some diversity in that story. Other than that I like the upbeat Hollywood ending!
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