US economy is dangerously dependent on Wall Street whims

Financial Times/Rana Foroohar/3-8-2020

“Watching the markets these days is like watching the seven stages of grief — shock, denial, anger, bargaining, depression, testing and, finally, acceptance. We clearly have not reached that last stage yet. This isn’t really about coronavirus — that was simply a trigger for a correction I have long expected.”

USAGOLD note:  FT’s Rana Foroohar joins the list of analysts who sees the coronavirus as triggering a market correction that has been a long time in the making.  She goes on to say that “the U.S. economy is dependent on asset bubbles” – not a new idea if you are a regular reader of USAGOLD’s live daily newsletter, but Foroohar offers a few weighty observations in the editorial linked above.