Stock market CRASH: What does Warren Buffett know that we don't??
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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US federal debt has hit RECORD high — does America stand a chance?
The Biden administration has set an incredible new record, as the U.S. federal government’s public debt has skyrocketed to an unprecedented $35 trillion.
Data released from the U.S. Treasury Department revealed that the gross national debt hit $35,001,278,179,208.67 — which equates to $104,497 per person in the U.S.
In early January this year, the U.S. had hit $34 trillion in debt.
Pat Gray and Keith Malinak of “Pat Gray Unleashed” are in shock.
“I just want to point out that back around the year 2000, U2 lead singer, Bono, was campaigning to get the debt of African nations erased,” Malinak laughs. “I would like to submit the United States of America for the next jubilee celebration, Bono, at our $35 trillion.”
“This is insane, man,” he adds.
Gray doesn’t think Bono is going to be able to do much to save our republic.
“The only thing that could save us — and I don’t know that this saves us or ends us — but when inflation gets to the point where we’re the Weimar Republic, then we’ll just pay off the debt with, you know, this morning's salary,” Gray laughs, adding, “like they did in Weimar.”
While they might be joking now, they are incredibly concerned as to what this means for America.
“It’s trouble,” Malinak says. “This is part of why people today can’t afford homes. This is all connected here. This is not good.”
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