What makes this stock market collapse so different from the other blips between 2008 and today is the rate of contraction – about 3,500 points in the past five days alone. In addition, the catalyst for this crash is the coronavirus, not something that is going to go away after traders receive a pep talk from some muckety-muck. This hour-long talk also discusses how the six channels of the economy are likely to be affected. The coronavirus is not the only bad news for the stock market. Many triple B bonds are on the verge of being declared “junk bonds” and consumer spending is weak as well.
Listen to on Jack Rasmus