Aug. 25, 2015 Stock Market Loses 1000 Points

Yesterday the New York Stock Exchange lost 1000 points out of a total of over 16,000 in the first few minutes of trading. People forget that in 2009 the total was about 8000 points, so the percentage drop was less. People seem more concerned about Wall Street than Main Street, where things have been shaky for years. Trouble on one street eventually causes trouble on another. I think it was Will Rogers who said that the Great Depression started after WWI, it just took ten years for rich people in New York to notice. The current trouble seems to be caused by a China’s inability to achieve sustained domestic growth. Workers have to be able to afford the products and services they provide.

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