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Donald Kaul – The Stock Market: The Only Game in Town

The stock market is down. It must be some crazy thing China has done. Those Communist countries just don’t understand how capitalism works.
No, wait! The market just went up. Did China fix its capital markets already?
Not really. More likely it’s that our Federal Reserve has hinted that it’s not going to raise interest rates any time soon because a bunch of economists are afraid of deflation.
Oh lookee there. The market is down again. It seems that a Greek finance minister has threatened to resign and people are jumping out of windows all over Europe. Why? We’ll explain later.

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