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.

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THE BIG PICTURE

You expect the big picture, and it's our job at Mother Jones to give it to you. And right now, so many of the troubles we face are the making not of a virus, but of the quest for profit, political or economic (and not just from the man in the White House who could have offered leadership and comfort but instead gave us bleach).

In "News Is Just Like Waste Management," we unpack what the coronavirus crisis has meant for journalism, including Mother Jones’, and how we can rise to the challenge. If you're able to, this is a critical moment to support our nonprofit journalism with a donation: We've scoured our budget and made the cuts we can without impairing our mission, and we hope to raise $400,000 from our community of online readers to help keep our big reporting projects going because this extraordinary pandemic-plus-election year is no time to pull back.

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