Persevering Through the Panic of 2016
The first two weeks of 2016 have been disastrous for both the commodities markets and the equities markets. Looking at the DJIA and the S&P indexes, more than $3.5 trillion has been lost on paper in just two weeks. Crude oil has dropped to around $29 per barrel. There seems to be no end in sight for the bad economic news. I expect to see further deep market declines, intraday “circuit breaker” market interventions, and perhaps even full-day trading suspensions and bank holidays. I must remind you that I’m writing this on a three-day holiday weekend. (Martin Luther King Jr. …