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Two Podcasts in One Day!
For those of you who were worried that I wasn’t going to be able to do a podcast today to talk about the stock market or the economy because I already did a podcast earlier this morning, well, you’re wrong! Here I am, doing my second podcast of the day. This may be an unprecedented event. I don’t know if I’ve ever recorded 2 podcasts in the same day.
Don’t Miss This Morning’s Podcast on the Unconstitutionality of Obamacare
The reason I did the earlier podcast was because I wanted to address the topic of the Federal court in Texas striking down the ACA individual mandate and rendering the entire Affordable Care Act unconstitutional. I would encourage you to listen to that podcast if you are interested in this topic or the Constitution to listen to it in its entirety.
Not a Crash, but Regular Volatility
But let’s talk about another big down Monday. As I suggested when I did my podcast on Friday, I’m still thinking that there is a possibility of a Black Monday type event this year. I said we were running out of Mondays because we only had 3 left, and now one down. This, again was not a crash, but the Dow did close down better than 500 points. At one point, we were down over 600. You know, these big drops are not becoming a recurring event – they add up, right?
Worst December Start Since 1980
If you look at the charts, we look extremely vulnerable to a big drop. I read that already, we’re off to the worse start for a December since 1980. That was really the end of the last bear market. We had a bear market that went from 1966 to 1982, so the last time we had a December this week was at the tail end of that long-term secular bear market.