Written By: - Date published: 11:20 am, February 6th, 2018 - 84 comments
Categories: capitalism, class war, Economy, International, the praiseworthy and the pitiful - Tags: capitalism, class, stock markets, workers
A New York Times headline exclaims “Stocks Fall as Sell-off Enters Second Week.
The Guardian screeches “Dow Jones Suffers Worst Day in Over Six Years as Global Stock Markets Fall.”
The Washington Post gasps “Dow closes down nearly 1,200 points after plunging more than 1,500 points in volatile trading”
And “Dow Jones hit by biggest single-day points drop ever”, wails The Independent
So, y’know, the sky’s falling in. And one ought to show appropriate concern. (Pictures accompanying mainstream reporting will point you in the right direction if it’s all a bit over your head.)
And one of the reasons posited for this calamitous event?
Well, in among all the arm waving and finger pointing we have this in the Guardian piece –
The plunge, initially triggered by fears that strong US employment numbers would lead to wage demands…
And this in the Washington Post piece –
Friday’s markets went tumbling on good economic news as the Labor Department reported a 2.9 percent increase in hourly earnings.
Capitalism. Gotta love it.
No. You’ve got to.