Interestingly, stocks fell once again today around the world. Bitcoin has also continued to tumble, today falling below $7000 per coin.
Most reports say that the Dow Jones Stock Index fall has to do with the possibility of rising interest rates. However, today’s drop of 1,175 points is a large drop simply for falling interest rates, and completely ignores the good economic report.
And large contributions to the stock price fall actually come from individual companies, such as a more than $6 fall for Corcept Therapeutics (CORT) and a $7.50 fall for Prothena Corporation (PRTA). Although all sectors fell by at least one percent today, the worst sectors today were healthcare, industrials, and technology, which were all down more than four percent. There is no explanation for such large decline in these sectors; utilities fell by less than two percent.
But the most important aspect to the latest economic information is in the retail sector. Today, Bon-Ton Stores declared bankruptcy, and their share price fell 39% to a share price of less than a dime. Sears, Macy’s, and J. C. Penney also fell today; for about 45 minutes after-hours, Sears stock was just $2.02.
The Buffalo continues to support the online shopping trend with the rest of Mainstream Media by looking at Bon-Ton as an example of how “[O]nline shopping . . . has affected all brick-and-mortar stores by reducing mail traffic. . .”
We must first understand why the Mainstream Media wants to see the collapse of “brick-and-mortar stores” and the rise of online shopping be celebrated, and continue – the management of physical stores, and those who work at them, are those who have to deal with the common people in ordinary situations. They are not isolated from the general public in the way that newspaper editors and television reporters are. And online stores are part of the Leftist technology sector, which has become dominated by the Far-Left since the 1990s. Technology is also popular with the MSM because it is progressive, while retail is a more conservative method for purchasing goods. The MSM (Mainstream Media) is willing to point out a minuscule drop in retail and small climbs in the online shopping sector because it prefers the modern trend of online shopping to “brick-and-mortar stores”.
Another related reason for the MSM’s support for online shopping is related to Amazon, which has few competitors in the online shopping field. Amazon’s owner, Jeff Bezos, purchased the Washington Post and has let the newspaper’s propaganda machine continue.
For the MSM has largely ignored the success of many brick-and-mortar stores. There is a continue rise and fall throughout the retail market over the years, and it is very likely that Bon-Ton Stores (and probably Sears and Rite Aid in the future) are just examples of struggling companies in the field of retail. Newer companies, like CVS and Kohls, are now filling in the gap created by the losses of several other retail companies.
Bitcoin is essentially a scam and its price should still be what it was when it first was released to the general public, less than five cents. Nobody knows who created it and what their connection is to the person who makes the most money out of it. For all we know, the person who created bitcoin may be a multimillionaire because they have “mined” the same bitcoins they are producing and then converted them to another currency.
Bitcoin’s fall has no connection to the stock market because started dropping in December 2017. Stocks began to fall late last month.
Hank Mobley recorded with little-known saxophonist Curtis Porter and Bill Hardman in June 1957 to record “Double Exposure”, a Hank Mobley composition. It begins with a solo by the trumpeter Bill Hardman, and is followed by a masterful solo by tenor saxophonist Mobley. Curtis Porter differs from Mobley with his fast but short and choppy phrases from the alto saxophone. The other musicians include pianist Sonny Clark, bassist Paul Chambers, and Art Taylor on the drums. Enjoy!