I was thinking about writing a piece to further explain to you what was going on and what will probably happen in the near future. But I’ve been doing a lot of that in my newsletter lately, so instead, I want to refer you to two videos that do it very well.
I discovered that politician and actor Fred Thompson actually seems to understand what’s going on and explains it all very intelligently. I think the video is meant as a humorous attack on the previous administration, but, of course, everything said in this video pertains to all politicians, not just those previously or currently in office. Again, I strongly recommended viewing this if you’d like to be enlightened. Click here to view.
Next, I’d like to comment about the pinnacle of financial advice, CNBC. Early in my career I was a guest on the Financial News Network in Los Angeles about a dozen times. Bill Griffith of CNBC fame was a major host there. Later, the Financial News Network was bought out by CNBC. Since that time I have been on CNBC Europe one time.
CNBC asked me to comment on the market once. The average movement in the stock market had been about 2.5% in the S&P 500 for many years. But then the quiet bull market started in 2003, and we had a long period in which we were unlikely to even have one week when the movement in the S&P 500 was as much as 2.5%. However, when volatility returned to normal, CNBC wanted me to comment, as a psychologist, on how traders were coping with such high volatility. I typically avoid watching the talking heads on that channel, and I’ve been wondering how they’ve been coping with this huge bear market.
Jon Stewart has enlightened me as to what has really been going on. I strongly recommend watching this if you’d like to be enlightened. Click here to view.
