Welcome to the Eric Erickson Show podcast, Hour One.

Hello and welcome. It is Eric Erickson here. How are you? Americans? Obviously, the big story of the day.

The economic situation around the world and the inflation situation at home.

I have mentioned this quote often.

So I belong to this group.

They've been meeting for 99 years.

I don't know how I got roped into it where basically tonight I have to buy a meal for everybody and present an academic

paper mine will be on elections one of the points that I will make to them is what I've made to you

and it goes back to Harold McMillan who was Queen Elizabeth's prime minister back in the late 50s

early 60s had a big conservative coalition and a young man asked him what could change things

and he said events dear boy events events change things and we are witnessing one of those events

right now the Dow Jones time stamp for you here because it's important. It's September 13th, Tuesday,

2022 at 12.07 p.m. So the markets have been open for several hours now.

The Dow is now down 894 points. When I was doing show prep about 30 minutes ago,

the Dow was down 860 points.

Now down 894.58.

NASDAQ is down 495.7.

The S&P 500 down 129.74 points.

Major declines in the markets, shattering the two gains.

Remember, for the last two and a half weeks now, since the Federal Reserve President,

Jerome Powell, spoke, the markets had gone down.

They had two days of growth and now a total collapse.

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