These words appeared at the bottom of the screen for the entire morning segment on the stock market in the opening few minutes of The Today Show on Monday morning, September 15. This was the message conveyed to millions of housewives 80 minutes before the New York Stock Exchange was scheduled to open. The words were entirely appropriate. By the end of the day, the Dow was down by over 500, and the S&P 500 was down by over 50.
At long last, the media are scared. I watched CNBC in the afternoon. I tuned in to see the looks on their perma-bull faces. They were visibly scared. I don't blame them.
It's going to get worse says Gary North.
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