Best Of The Web
“What is to blame for the over 800-point plunge in the Dow Jones Industrial Average and the 4-percent drop for Nasdaq last Wednesday? The short answer is, nobody knows.
However, the Fed’s interest hikes and the unsettling trade tension between U.S. and other countries certainly received the loudest credit. But just because these were the two loudest answers, does that mean they are the most accurate?
To answer this question, let’s look into the fundamental principles under which the stock market operates. One defining principle of the stock market is that it responds to unexpected news, not stale news.
The Fed announced the most recent interest rate increase on Sep. 25 and made it evident that a fourth hike was to come at the end of 2018.
It is hard, if not impossible, to imagine that U.S. capital markets, which take as little as seven milliseconds to incorporate Federal Open Market Committee (FOMC) meeting news into futures prices, really need three weeks to react adversely to the Fed’s past moves.”
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"You are being watched. Right now, cookies are tracking which websites you visit and what you click on while you’re there. Your smartphone is logging your location."
"The US placed sanctions on 17 Saudis on Thursday as punishment for their alleged involvement in the murder of Saudi journalist and US resident Jamal Khashoggi... according to experts, the move doesn’t go far enough to reprimand the kingdom."
"If the slow-motion crisis that is Gaza ever has a turning point, then this week’s deal between Prime Minister Benjamin Netanyahu’s government, or what’s left of it, and Hamas leaders, under siege, is what the turning would look like."
"Nicholas Parisi's new biography, 'Rod Serling: His Life, Work, and Imagination,' fails to present a complete picture of the legendary screenwriter who did his best work outside the TV show that made him famous."
"Nearly a year after the tax cut, economic growth has accelerated. Wage growth has not. Companies are buying back stock and business investment is a mixed bag."
"By shifting accents, Australian expatriates are seen to be shifting class and status, indicating a sense of superiority to those who remain in Australia. The quickly acquired faux-British accent in particular has been associated with pretension..."
"Denim, usually in the form of the humble pair of jeans, is arguably the world’s most popular fabric. Over the years, it’s been worn by everyone from supermodels to soccer moms."
"Capitalism disadvantages women along several axes. The dawn of the industrial revolution enshrined a division of labor that largely confined them to the domestic sphere."
"In the past five or so years, hosting a Thanksgiving meal among friends a week before the actual holiday has become a standard part of the celebration for many young adults."
"Are these business owners trying to keep out certain customers? What about children? Or people who are paid in cash, or others who, for whatever reason, can’t or won’t open a bank account..."
"Humanity is on the verge of a weighty achievement. On Friday, representatives of more than 60 nations will convene in Versailles, France, to approve a new definition for the kilogram."
"...the more modern form of the movement has its roots in late 19th-century Europe... The sole focus of some missions based in England and the U.S. was the conversion of the Jews to Christianity..."