I’ve posted Entry #101 to my weekly Investing: The New Rules column at the Death by 1,000 Papercuts site. It’s called The Shadow Economy.
Juicy Excerpt: People think of the stock market as the big thing and of the stock market as the small thing. Fix the big thing and the small thing is automatically fixed right along with it, the thinking goes. So we drill down on that one. It’s all economy all the time. We acknowledge that the stock market matters. We just don’t see how it would help to direct much of our mental energies to fixing it. It’s of course true that the economy is the bigger thing. But getting the stock market working right is the more important thing. Why? Because the stock market is the more variable thing.