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Blood on the highway

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Six days ago, Larry Kudlow, Donald Trump’s pusher of financial advice to the masses, advised everyone to buy buy buy stocks, ’cause buy low sell high is the name of the game.

Now it might seem unfair to snort with derision, or suggest that Kudlow has gone off the rails, but a blow by blow account of what’s happened since then suggests that Kudlow’s words of wisdom may have been something of snow job.

So maybe Kudlow owes us all a coke.

The Dow Jones lost 10% of its value — or “value” — today, making it the fourth-worst day, in percentage terms, in the exchange’s entire history. The Dow is now at almost exactly the same value, adjusted for inflation, it had on the day Donald Trump became president. (21,201 to 21,120).

Sniff.

Also too, no March Madness for you. This could actually hurt the Republicans even worse than the stock crash.

All Americans really care about is sports. They pretend to care about other things, but what they care about is sports.

Norman Podhoretz, March 17, 2017

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