Stock market CRASH: What does Warren Buffett know that we don't??

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Americans woke up on Monday morning to a stock market plunge after a bad day on Friday. The Dow plummeted hundreds of points, Warren Buffett is selling stocks like crazy, and to top it all off, Japan’s stock market had its worst day since 1987’s Black Monday.

Glenn Beck is understandably worried.

“Friday, we had a bad jobs report. We’re still not in a recession; indicators are showing that we’re headed towards one, but the indicators have been wrong before. We are headed towards one; we’re headed for a depression at some point,” Glenn Beck warns.

Glenn is concerned about what this might mean for ordinary Americans and the United States economy and consults financial expert Carol Roth for some advice.

Roth explains that while the Fed did not lower rates, it might be on the table in September.

“Normally, you would say, ‘Okay, the market wants the Fed to cut rates,’ but what happened is then we got a weak job report on Friday, and while sometimes the bad news can be good news for the market, in this case, they took it as bad news,” Roth tells Glenn.

“The Fed was behind the curve in terms of lowering rates,” Roth continues. “They felt like maybe this whole idea of a quote ‘soft landing,’ the idea that you can get the inflation down without wrecking the economy, is off the table.”

However, while it doesn’t look good, Roth says that “if there is any silver lining here,” it’s that the market did not open back up and continue to fall.

But there are still major indicators that something strange is going on, and one of them is Warren Buffett’s recent behavior.

“Another catalyst that we’ve seen is Warren Buffett,” Roth says. “He had lessened his position in Apple by about 49%.”

“That’s not lessening. That’s cutting it in half,” Glenn says. “He’s making some of the biggest sales he’s ever made. It’s almost as if he’s becoming bullish on America. What does he know that we don’t know?”

“Starting in 2019, he doubled down on Japan. So he has five really big companies and really big positions in Japan. So the day that we’re talking about Japan going down and at the same time the U.S. is going down,” Roth says. “It is interesting.”


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Dow Jones closes above 37,000 for the first time

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The Dow Jones Industrial Average surged more than 500 points on Wednesday, closing above 37,000 for the first time, according to reports.

The historically high close for stock index came on the same day that the Federal Reserve announced plans to maintain current interest rates. A Federal Open Market Committee statement notes that "the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent."

During a press conference, Federal Reserve board of governors chair Jerome Powell said "tight policy is putting downward pressure on economic activity and inflation, and the full effects of our tightening likely have not yet been felt."

He noted that "we believe that our policy rate is likely at or near its peak for this tightening cycle," but also said that officials are "prepared to tighten policy further, if appropriate."

Data released on Wednesday listed 4.6% as the median projection among Fed officials for the rate by the end of 2024.

While the rate of inflation has been on the decline, Americans' have still been experiencing the persistent erosion of the purchasing power of their hard-earned dollars over time.

"The Consumer Price Index for All Urban Consumers (CPI-U) increased 0.1 percent in November on a seasonally adjusted basis, after being unchanged in October," according to the U.S. Bureau of Labor Statistics. "Over the last 12 months, the all items index increased 3.1 percent before seasonal adjustment."

President Joe Biden, who aims to secure another four-year term during the 2024 presidential election, declared in a December 12 statement, "Today’s report demonstrates continued progress bringing inflation down and lowering costs for American families. Inflation is now at 3.1 percent — down by nearly two thirds from its peak."

"While Congressional Republicans fight for the wealthy and big corporations, leaving hardworking families to pay the price, I'll keep fighting to bring down costs and grow our economy with a strong middle class," Biden claimed in the statement.

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