The Stock Market and Slaughter in America
Image Courtesy: Thrillist

The Stock Market and Slaughter in America

Since the election, the stock markets have enjoyed an almost unbroken period of exuberance. Many have contributed this both to Donald Trump’s promise to reform corporate and individual taxes and, more generally, to a relief rally celebrating an end to the last eight years under Barack Obama.

But, today, following the horrific mass killing in Nevada, one has to wonder yet again why the markets seem totally removed from realities on the ground. Indeed, the markets just rose big time yet again, totally deaf, it would seem, to this morning’s worst attack of domestic terrorism in US history.

Over 59 people were killed and 500 were wounded by a single assailant and most indexes hit new all-time highs. If the markets are any barometer at all, their continued rise in spite of all that is happening (and not happening) in America suggests that everyone has just had too much and people have closed down. They have closed down to the threat of nuclear holocaust from North Korea, three devastating hurricanes weeks apart, and a President lacking humanity who knows no personal and professional boundaries.

We are dulled, desensitized, rendered impotent as a people. That most stocks are going up as huge numbers are killed and wounded by a single assailant speaks volumes. What will it take to wake us up? A nuclear bombing of Los Angeles?

Ari Socolow
Ari Socolow: Ari Socolow is the Chief Economist and Editor-in-Chief at BestCashCow. He is particularly interested in issues relating to bank transparency and the climate crisis. Since co-founding BestCashCow in 2005, Ari has been frequently cited in the media as an expert on local and national savings accounts, CD products, mortgage and loan products and credit card rewards products.

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