The market did not crash although 3% down is meaningful. Monday, every available resource will be used to turn the market back up. Chances are very slim that the market will crash early next week. The Federal Reserve claims to not support stock prices. Don’t believe it. The stock market will be weak for at least two years. As stock prices struggle, no effort will be spared get them back up. The Federal Reserve is not independent. It is only said to be independent.
Much will be said about free trade over the coming weeks. The European Union is not an instrument of free trade. Free trade is simple. To engage in free trade. all a nation need do is remove all restrictions on the import and export of goods and services. A trade agreement always means restrictions on trade, not free trade, even though it is stated otherwise.
Global economic problems have two causes. The causes are distrust of free markets and distrust of democracy. Until one or both of these issues change economic hardships will accumulate.