All Things Considered began its broadcast today with the search for an explanation for today’s big drop in the stock market.
Perhaps the explanation for the market reversal is the realization, in light of the recent fight over the debt ceiling, that we are governed by idiots.
Update, 8/5/2011: Apparently Standard and Poor’s agrees with me.
It's now August 8, and the market has dropped quite a bit further. Would this not be a confirmation of your conclusion?ReplyDelete