Why Everything About the Trump Crash Is BS

Why Everything About the Trump Crash Is BS
AP Photo/Evan Vucci, File

There have been a lot of screaming headlines in the past two weeks about how the stock and bond markets have turned volatile, unpredictable, scary, and downright bearish—that whatever big party investors have been enjoying is definitely over, and that a new, darker chapter of financial history is about to be written. That may be true in the most superficial sense: yes, investors are waking up to the fact that we’re at the beginning of the end of the long boom in the financial markets. But it’s hardly a disaster. Rather, what has happened in the last few weeks in both the stock and bond markets is fabulous for anyone who is long-term greedy. After 14 months (in the case of equities) and more than nine years (in the case of bonds), our capital markets actually have started to behave rationally, intelligently, and appropriately. And thank goodness for that.


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