One of the interesting narratives that came out from many economists was that the Dow Jones fall wasn’t a problem because the ‘market fundamentals’ are all good.
The argument goes that there is global economic growth and these sudden shockwaves are just an anomaly.
There are some serious problems with this.
The first is that it pre-supposes that the over $12Trillion in quantitive easing printed money, and over $10Trillion in global bonds with the lowest interest rates in 5000 years could be regarded in any way shape or form a ‘market fundamental’.
The second is that at some point, the shear weight of market technicals in a nanosecond trading AI algorithm rigged Casino is going to crash the ‘market fundamentals’.
What we have isn’t a fully functioning market secure with all the fundamentals, we have a waiting time bomb.