by Jim Rickards, Daily Reckoning:
The stock market has topped out and is headed down.
The Dow Jones Industrial Average peaked at 45,014 on December 4, 2024, and was at 41,911 by March 10, 2025, down 3,101 points or 6.9% in just over three months.
The S&P 500 Index peaked at 6,130 on February 18, 2025, and was at 5,614 on March 10, 2025, down 516 points or 8.4% in less than one month.
The NASDAQ Composite Index peaked at 20,174 on December 16, 2024, and was at 17,468 on March 7, 2025, down 2,706 points or 13.4% in less than three months and technically a market “correction” (defined as a 10% or more decline from a previous peak).
One of the most damaging costs of the imposition of “diversity, equity, and inclusion” across Western universities has been the outright exclusion, suppression, and demonization of research and open debate about the racial character and cultural greatness of the West. For decades now, academics have been reducing the rise of the West to the creation of colonial empires, the extraction of gold and silver from the Americas, the “genocide” of Amerindians, the African slave trade, the malevolent use of modern weapons against a supposedly peaceful Asian world, and the cultivation of “white supremacist” notions against non-Caucasians.
Sunnova Energy, a solar panel company based in Texas, has filed for bankruptcy. It is not shocking for a solar panel company to go under as the demand is simply not there. Upfront costs could range into tens of thousands and it takes years to see actual savings. The Biden Administration spent more than any past administration on climate initiatives, so it is of no surprise that Biden’s Department of Energy awarded numerous loans to solar companies. Sunnova Energy in particular profited $3 billion from a partial loan in September 2023.