08/27/2011 02:10 pm ET Updated Oct 27, 2011

Why Not To Draw Broad Conclusions From Stock Market Turmoil

Most adults know that there is no Santa Claus. They should also know that there was no stock market crash associated with Standard and Poor’s downgrade of U.S. government debt. However, because powerful interests want to spread misinformation about the downgrade, people are likely to be much better informed about Santa Claus. Righting public perception about this recent history isn’t just an idle exercise—it’s the only way to keep our social welfare programs off the chopping block.

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