Further proof that it's time to reject the notion that the Dow is some sort of Oracle
Throughout history people have always believed they had some means to divine the future or see into the inner character of people.
Reading the stars, cutting open chickens and examining their viscera, feeling the bumps on heads of others, tyromancy, tea leaves, and more.
We have not abandoned this practice as it is functional; it gives us the feeling we have power over the future as well as others.
And we have not abandoned this because we have replaced tea leaves and chicken guts with the arrows of the stock market. Dow goes up then something you like is going on, Dow goes down then it must be because of something you don't like.
Here are two stories showing just that and how silly... and how dangerous it is:
http://m.huffpost.com/us/entry/us_593a6c02e4b0240268782d76?section=us_politics
http://articles.baltimoresun.com/2003-03-18/business/0303180326_1_war-with-iraq-investors-toll
Maybe we should ask Iraqis in refugee camps what they think of our Oracle of the Dow?
