Since the Reagan era the corporate media propagandists have touted the Stock Market as being the bellwether of our economy. When it was up they stated our economy as being strong. When it was down we were told we were on the threshold of a recession.
At the same time if a company would have a massive lay off their stock would rise. This seemed rather hypocritical in terms of our economy as why would the economy get better as people lost their jobs?
Also at the same time we have discovered how manipulated the stock market can be. People were making large sums of money simply by spreading rumors about companies, causing their stock prices to rise or fall, depending on whether they wanted the stock price to respond.
Now, in the throes of complete economic chaos the success or failure of the stimulus garbage that is being thrust upon us, the success of the policies is being determined by how the stock market is responding. I maintain the market could go to 100,000 and it would not impact 90% of Americans!
So, why do we hold to the axiom that how goes the market so goes our economy? If, in fact, our economy is linked to market success, we need to work on getting something that is not as manipulative to be our rock.
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