The major indexes (S&P 500) is 7% off the record high of 2014, the biggest decline since the taper fears of 2013 when the market fell about 7% as well.
The markets have lost 5% in the past three trading day alone – the worst 3-day drop since 2011.
The ‘E-word’ is on everyone’s mind right now. Is the second infected hospital worker the beginning of a full-blown outbreak in America? Shit will get ugly fast if more Americans get sick, but the likelihood is still slim. Ebola combined with European recession fears probably contributed to the large sell-off.
Buy the dip, but expect a lot of volatility. Favorite picks as usual: MA, V, GOOG, FB, TSLA, JNJ, BRK_B (Berkshire Hathaway Class B shares), XLV (health care ETF), PJP (biotechnology ETF)
Is political correctness really rampant online?
Actually, since 2008 or so with the rise or Reddit, 4chan and internet libertarianism and HBD, we’re seeing a repudiation of political correctness by many young adults. During the IQ wars the majority of people online, especially on high-IQ sites such as Reddit and 4chan, sided with the politically incorrect biological deterministic point of view. This backlash in and of itself is worthy of more attention. The internet and social media is one of the last bastions of free speech, which is why the left is threatened by Facebook, Google and Twitter and seek to spread fear about the NSA and privacy concerns to scare people from going on the internet.
Like their rejection of certain biological inconvenient truths, the Libs only support the free speech that advances their egalitarian world view. Sam Harris, despite being an atheist, is right about some liberals being as indoctrinated as religious Islamic fundamentalists. Fundamentalism comes in many forms, welfare liberalism is one of them. The good news is neoliberalism (liberalism with a brain) is replacing welfare liberalism.