China Bumbles, Markets Tumble, While Free Market Reigns

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  • There may be a lot of ugliness out there — China, oil prices, currencies — as free markets re-assert control, but such normalization reduces broader risks to the economy and markets.
  • The U.S. economy’s march toward normalization, led by the consumer, has been the bright spot around the world.
  • Without strong earnings growth and the artifice of fed stimulus, markets currently are behaving as normal markets do.
  • Investors should stick to the plan made in calmer times, as it is the best defense from irrational — and often self-defeating — actions.
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