Wouldn't it be perfect to blame the sudden downturn on the "unforeseen event" in Eygpt.
It's never that the market is overbought or the economy isn't as rosy as we thought.
It's those problems in Eygpt, yeah that's it!
Always seems to be cheaper at first to buy a dictator than to have real reform...Then the real expense starts...But heck, the USA is a war exporter anyway...what else do we have to sell ??... Well, soybeans, corn, maybe...War is more profitable than farm products..Let the World's poor eat bullets and cluster bomblets...What will we do when some other country "buys" a dictator to run the USA ??
Markets have been overbought for a long long time due to artificial demand for equities...
Here's my take on the political influence of the stock market pull back:
I will contend egypt is the scapegoat--but amazons revenue miss and higher commodity prices hurting companies bottom line is the underlying reason--throw in an imminent down grade of us debt and you have a down -180 day