I used to think that the stock market was a meaningful reflection of national prosperity; and I suppose it is in so far as a robust stock market reflects rising wealth. But these momentary fluctuations are meaningless on the whole. It soars up and then drops like a rock and then it soars up again BECAUSE most of stock market investors have the emotional or intellectual maturity of a young puppy. Anything can spook them and conversely anything can stampede them into buying.