More Fun with the Stock Market Plunge

The media continue to be in a panic over the drop in the stock market over the last few weeks. Fortunately for political pundits, there is no expectation that they have any clue about the subjects on which they opine.  For those more interested in economics than hysterics, the drop in the market is not a big deal.

The market is at best very loosely related to the economy. It generally rises in recoveries and falls in recessions, but it also has all sorts of movements that are not obvious...