We Get It: The Stock Market Is Sinking

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Yesterday I mocked President Trump for being more concerned with the stock market than with the coronavirus. I stand by that, but it’s hard to blame him too much when I wake up to headlines like this:

Sure, you say, but that’s the Wall Street Journal. They’re supposed to be obsessed with the stock market. But here’s the New York Times:

And the Washington Post has a live feed so you can watch the stock market crater before your eyes:

I could forgive this infatuation with the stock market if it was connected to some actual change in the broader economy, but it’s not. It’s handy only because most economic indicators are calculated monthly at best, and that’s boring. The stock market may not have much to say about the real-life state of the economy, but it changes daily—hourly, even—and that makes it exciting.

But that’s no excuse. A serious piece about how the coronavirus is likely to affect the global economy is fine. But stock porn? Spare me.

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FACT:

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 today so we can keep on doing the type of journalism 2020 demands.

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