The media is filled with the most hilarious reasons for the Crash. The main one floating about is that weakness in China is going to kill the U.S. economy, and in particular that devaluing the yuan will hurt the U.S. economy.
Markets are moved by human beings, armed with computers, who move the markets any way they think will make money for them. Markets predict nothing. They know nothing. The people who run them just know how to make money and then make up reasons for it besides their own greed, so writes Ben Stein in The American Spectator.
Ben Stein is a writer, actor, and lawyer, who served as a speechwriter in the Nixon administration as the Watergate scandal unfolded. He began his unlikely road to stardom when director John Hughes cast him as the numbingly dull economics teacher in the urban comedy, "Ferris Bueller's Day Off." Read more reports from Ben Stein — Click Here Now.
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