Normally, I don’t follow the stock markets too closely. I’ve got a 401K like a lot of people but I long ago transferred the majority of the balance into a money market account, soon to be followed by a coffee can buried in the back yard account if things continue as they are. Today however I found myself watching the final ten minutes of the days trading as I would my favorite football team defending against the winning touchdown in the final minutes. With two minutes left the score was hovering between -575 and -595 with the possibility of a late Bull rally to offset some of the days loses. With seconds left on the clock and the tension palpable, the Bears drove the length of the field and scored the winning goal. Final score? Dow Jones -634.
As I watch and listen to our ruling classes flounder rather than take action and double down on their Keynesian theories, the attempt to cast blame on those who disagree with their theories seems the only concrete action that they are capable of taking. And the clock winds down. Will Socratic ideals of reason and action make a last minute comeback, or will the Frankfurt School at long last run out the clock. It’s become fairly obvious that we’re going to find out in short order, and everything we have is riding on the outcome.