What’s good for Wall Street is bad for America
To watch the Dow jockies on the teevee leaves one with the impression that Americans collectively win something when the industrial average rises above 10,000. But Americans don’t win anything. Most of them don’t even really understand what the 10,000 mark means, but they have learned to equate Wall Street winning with a booming American economy.
Do you earn a bonus when the Dow breaks 10,000? Does your job become more secure? Do your credit cards and medical bills disappear? Do your kids get college scholarships? Does the air you breathe become cleaner?
No, of course not. Americans don’t win anything when Wall Street prospers, and in fact, the opposite is usually true: what’s good for Wall Street is bad for America.


















