Thursday, July 9, 2015
Summertime market blues
It doesn't seem to matter what kind of markets we talk about, because they are all languishing in a midsummer swoon. The Chinese market is giving headaches to millions of small investors who jumped in at the end of a bull market which is rapidly turning bearish. European markets are skittish because of the Greek crisis and even the mighty NYSE suffered a "glitch" which halted trading for several hours. In my own case, it is the veg markets causing heartburn. Following a good runup to the Fourth of July, demand for lettuce, spinach and most other green crops has fallen faster than some of the aforementioned stock markets. Rejections due to "market decay" are on the increase and farmers are getting restive as crops increase in size and their phones are not ringing. As with all things, the markets will eventually stabilize and demand will increase. Unfortunately, to paraphrase John Maynard Keynes, eventually, we will all be dead.
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