Cato @ Liberty » Explaining Mr. Market

Explaining Mr. Market

Posted By David Boaz On August 12, 2010 @ 10:56 am In Trade and Immigration | Comments Disabled

A banner Washington Post headline (page 11, print edition; slightly different online ^[1]) reads:

Stocks plunge as trade deficit widens

Of course, they could have gone with

Stocks plunge as Linda McMahon wins Senate nomination

Or my favorite:

Stocks plunge as Cardinals sweep Reds

Since national trade deficits are not much more meaningful ^[2] than baseball scores, it’s unlikely that this month’s report drove stocks down.

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URLs in this post:

[1] online: http://www.washingtonpost.com/wp-dyn/content/article/2010/08/11/AR2010081103472.html

[2] not much more meaningful: http://gregmankiw.blogspot.com/2007/07/bilateral-trade-deficit.html

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