Market Mayhem
First COVID-19 shook up Wall Street. Trillions of dollars in debt. Unemployment hit levels we have not seen in our lifetime. A recession hit. Still the market continue to march up
Murder Mayhem
The senseless murder of George Floyd on the streets of Minneapolis contributed to the mayhem we are witnessing today. Protesting against discrimination and the systemic racism against Black people started in the United States. The protests then resonated and spread to the global community. The protests may have had a violent start but quickly became largely peaceful. Then the President creates more mayhem by threatening to use the military to dominate people on the streets. Still the market creeps up.
A Disconnect
I am no economist, but it appears to me there’s a disconnect between the markets and people living in the communities I once roamed. Is this more evidence the gap between the gap between rich and poor is only growing. Why is the market still going up in a time of such turmoil?
I used to believe if the stock markets did well, we all would do well. Now – I don’t think Wall Street reflects the reality of many I grew-up with. If my household was as chaotic as the markets, mixed with social unrest, some adjustments will be needed. I would need to take action to transform the mayhem to something better for the family. If Wall Street is rising at this time of chaos and mayhem, is it time to change?
What will change look like?
Bear with me…I like to look at people from business ringing the bell at the opening of the stock market on Wall Street. Today I see few minorities, few Black Americans on that podium to ring the bell at the start of the trading day. I automatically look for minorities standing on that podium when the bell rings to start trading. That number of Blacks is very small. Few traders on the trading floor are black. Few Black Americans are on The Federal Reserve Board…ok no Black Americans are on the Board. In fact the diversity shown by the President is pretty poor. I digress…
There needs to be a change. This disconnect seems to be getting worse not better. Something will have to change. Something will have to give. Fighting systemic racism and discrimination is part of the change, part of the needed transformation.
Next step…the markets may need to fall, then hopefully change and be more aligned to the reality of those in the communities I once roamed.
Arthur Wilson
Being Arthur 