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.


Mother Jones was founded as a nonprofit in 1976 because we knew corporations and the wealthy wouldn’t fund the type of hard-hitting journalism we set out to do.

Today, reader support makes up about two-thirds of our budget, allows us to dig deep on stories that matter, and lets us keep our reporting free for everyone. If you value what you get from Mother Jones, please join us with a tax-deductible donation so we can keep on doing the type of journalism that 2018 demands.

Donate Now