Bitcoin, Stock Market Are Both Tumbling

Things that make you go “hmmm”:

I can’t say that these things are necessarily related. Presumably bitcoin is crashing because it was a Ponzi scheme all along and the air finally went out of it. The stock market isn’t crashing, but it is tumbling and I have no idea why. Neither does anyone else, no matter what they tell you. But it’s down even though corporate earnings are solid; a generous tax cut is on its way; and the rest of the world is doing pretty well. It may be true that the crazy growth of January wasn’t really justified, but the market has given back way more than that. Why? Trade worries? Random panic? Fear of Trump finally hitting everyone? Beats me.

WE DON'T KNOW

What's going to happen next as the headlines grow crazier and more disconcerting by the day. But we do know the job of an independent, unrelenting press is more important than ever—and the ongoing commitment of MoJo readers to fight for a democracy where facts matter and all can participate is absolutely vital.

If you feel the urgency deep in your bones like we do, please consider signing up as a monthly donor during our fall pledge drive to support Mother Jones' fair and fearless reporting for the long haul (or make a one-time gift if that works better for you). The headlines may fade, but the need to investigate the powerful never will.