Larry Kudlow brings some sanity to the 280 point drop and the economy. Snip:
What’s lacking here is confidence.
No, we’re not going into a double-dip recession. The most important indicator is the Treasury yield curve, which is still very steeply sloped. And businesses are profitable. Those profits have been the backbone of what little growth we’ve had in the last two years. And they’re the mother’s milk of the stock market.
But the point is, without real growth policies, there’s not much to cheer about in the market or the economy. We’re muddling along. It could even be called a growth recession.
Wednesday’s 280-point Dow drop is cry for help. Is anybody listening?