This article was written by Michael Snyder and originally published at his Economic Collapse blog.
Editor’s Comment: These are indeed dangerous times. Those, like Michael Snyder, who saw a stock market crash coming around September (and now beforehand) have largely been proven right. Will this end up becoming a complete crash like we’ve never seen before? No one can say at this moment, but things are looking bad with significant room for further complications.
The system is having a hard time keeping things swept under the rug, and it’s not going to be pretty when things go into a fit. Please take heed of these warnings and prepare as best as you can. No matter how much the mainstream media laughs this off, it is a major, serious disruption that could signal even worse things ahead. Stay safe.
BLACK MONDAY: The First Time EVER The Dow Has Dropped By More Than 500 Points On Two Consecutive Days
by Michael Snyder
On Monday, the Dow Jones Industrial Average plummeted 588 points. It was the 8th worst single day stock market crash in U.S. history, and it was the first time that the Dow has ever fallen by more than 500 points on two consecutive days. But the amazing thing is that the Dow actually performed better than almost every other major global stock market on Monday. In the U.S., the S&P 500 and the Nasdaq both did worse than the Dow. In Europe, almost every major index performed significantly worse than the Dow. Over in Asia, Japanese stocks were down 895 points, and Chinese stocks experienced the biggest decline of all (a whopping 8.46 percent). On June 25th, I was not kidding around when I issued a “red alert” for the last six months of 2015. I had never issued a formal alert for any other period of time, and I specifically stated that “a major financial collapse is imminent“. But you know what? As the weeks and months roll along, things will eventually be even worse than what any of the experts (including myself) have been projecting. The global financial system is now unraveling, and you better pack a lunch because this is going to be one very long horror show.
Our world has not seen a day quite like Monday in a very, very long time. Let’s start our discussion where the carnage began…
For weeks, the Chinese government has been taking unprecedented steps to try to stop Chinese stocks from crashing, but nothing has worked. As most Americans slept on Sunday night, the markets in China absolutely imploded…
As Europe and North America slept on Sunday night, Chinese markets went through the floor — the Shanghai Composite index of stocks fell by 8.49%, the biggest single-day collapse since 2007.
It wasn’t alone. Hong Kong’s Hang Seng fell 5.17%, and Japan’s Nikkei fell 4.61%. Stocks in Taiwan, the Philippines, Singapore, and Thailand also tumbled.
Things would have been even worse in China if trading had not been stopped in most stocks. Trading was suspended for an astounding 2,200 stocks once they hit their 10 percent decline limits.
Overall, the Shanghai Composite Index is now down close to 40 percent from the peak of the market, and the truth is that Chinese stocks are still massively overvalued when compared to the rest of the world.
That means that they could very easily fall a lot farther.
The selling momentum in Asia carried over into Europe once the European markets opened. On a percentage basis, all of the major indexes on the continent declined even more than the Dow did…
In Europe, the bloodbath from Friday continued unabated. The German Dax plunged 4.7%, the French CAC 40 5.4%, UK’s FTSE 100 dropped 4.7%. Euro Stoxx 600, which covers the largest European companies, was down 5.3%.
But wait… Europe is where the omnipotent ECB and other central banks have imposed negative deposit rates. The ECB is engaged in a massive ‘whatever it takes” QE program to inflate stock markets. But it’s not working. Omnipotence stops functioning once people stop believing in it.
Even before U.S. markets opened on Monday morning, the New York Stock Exchange was already warning that trading would be halted if things got too far out hand, and it almost happened…
The thousands of companies listed by the New York Stock Exchange and Nasdaq Stock Market will pause for 15 minutes if the Standard & Poor’s 500 Index plunges 7 percent before 3:25 p.m. New York time. The benchmark got close earlier, falling as much as 5.3 percent.
There were other circuit breakers in place for later in the day if too much panic selling ensued, but fortunately none of those were triggered either. Here is more from Bloomberg…
Another circuit breaker kicks in if the S&P 500 extends its losses to 13 percent before 3:25 p.m. If the plunge reaches 20 percent at any point during today’s session, the entire stock market will shut for the rest of the day.
When the U.S. markets did open, the Dow plunged 1,089 points during the opening minutes of trading. If the Dow would have stayed at that level, it would have been the worst single day stock market crash in U.S. history by a wide margin.
Instead, by the end of the day it only turned out to be the 8th worst day ever.
And in case you are wondering, yes, investors are losing a staggering amount of money. According to MarketWatch, the total amount of money lost is now starting to approach 2 trillion dollars…
As of March 31, households and nonprofits held $24.1 trillion in stocks. That’s both directly, and through mutual funds, pension funds and the like. That also includes the holdings of U.S.-based hedge funds, though you’d have to think that most hedge funds are held by households.
Using the Dow Jones Total Stock Market index DWCF, -4.21% through midmorning trade, that number had dropped to $22.32 trillion.
In other words, a cool $1.8 trillion has been lost between now and the first quarter — and overwhelmingly, those losses occurred in the last few days.
Unfortunately, U.S. stock prices are still nowhere near where they should be. If they were to actually reflect economic reality, they would have to fall a lot, lot lower.
For example, there is usually a very strong correlation between commodity prices and the S&P 500, but in recent times we have seen a very large divergence take place. Just check out the chart in this article. At this point the S&P 500 would have to fall another 30 to 40 percent or commodities would have to rise 30 or 40 percent in order to close the gap. I think that the following bit of commentary sums up where we are quite nicely…
“Markets are afraid of further economic weakness in China, further pain in global commodity markets and uncertain about Fed and PBoC policy — what they will do and what the impact will be,” Societe Generale’s Kit Juckes wrote on Monday. “The divergence between global commodity prices and equities is not a new theme but the danger now is that they begin to re-correlate – as they did when the dotcom bubble burst in 2000 and what had previously been an emerging market crisis became a US recession.”
And commodities were absolutely hammered once again on Monday.
For instance, the price of U.S. oil actually fell below 38 dollars a barrel at one point.
What we are watching unfold is incredible.
Of course the mainstream media is bringing on lots of clueless experts that are talking about what a wonderful “buying opportunity” this is. Even though those of us that saw this coming have been giving a detailed play by play account of the unfolding crisis for months, the talking heads on television still seem as oblivious as ever.
What is happening right now just doesn’t seem to make any sense to the “experts” that most people listen to. I love this headline from an article that Business Insider posted on Monday: “None of the theories for the Black Monday market crash add up“. Yes, if you are willingly blind to the long-term economic and financial trends which are destroying us, I guess these market crashes wouldn’t make sense.
And if stocks go up tomorrow (which they probably should), all of those same “experts” will be proclaiming that the “correction” is over and that everything is now fine.
But don’t be fooled by that. Just because stocks go up on any particular day does not mean that everything is fine. We are in the midst of a financial meltdown that is truly global in scope. This is going to take time to fully play out, and there will be good days and there will be bad days. The three largest single day increases for the Dow were right in the middle of the financial crisis of 2008. So one very good day for stocks is not going to change the long-term analysis one bit.
It isn’t complicated. Those that follow my writing regularly know that I have repeatedly explained how things were setting up in textbook fashion for another global financial crisis, and now one is unfolding right in front of our eyes.
At this point, everyone should be able to very clearly see what is happening, and yet most are still blind.
Why is that?
Michael T. Snyder is a graduate of the University of Florida law school and he worked as an attorney in the heart of Washington D.C. for a number of years.
Today, Michael is best known for his work as the publisher of The Economic Collapse Blog and The American Dream.
If you want to know what things in America are going to look like in a few years read his new book The Beginning of the End.
They’re blind because it hasn’t happened yet.
Someone is making piles of money on the fools playing the put-option market. Thats what this is.
exactly. even a market decline of 10K would be an adjustment back to reality, not an economic collapse. all the way down the “players” will continue to buy/short as needed to make cash and keep the suckers in.
In response to Big B’s question a couple of weeks ago, I described the coming crash by saying that Hedge Funds, Money Market Managers, Pension Funds, and 401k’s would lose a lot of money as the decline started:
Its in the archives, and it is clear that the 10-20% correction before september that I called last Spring is on the books while we still have a week to go in August.
Imagine, who would have thunk it ??? 🙂
What is it with you and this (it’s in the archives) in everyone of your post?
Want a cookie or a handjob for acknowledging what most of us can already presume?
I don’t care who you are, but gloating about your self worth is not a good look or image for anybody. Get over yourself, I doubt anybody here is impressed with your predicting.
Oh, and another thing. The dollar will eventually get replaced as a world reserve currency. Believe that!
Z: A lot of haters and naysayers have hammered me about my financial posts here over time, which btw, have been spot on. That is why I URGE them to check the archives to confirm my sage advice.
These financial midgets obviously do not have even a basic financial education, as my observations are predicated upon basic economic analysis.
Yes, the dollar WILL eventually get replaced as THE WRC as history is replete with examples of changes between fiat and gold based currencies. But not in my lifetime.
That’s in the archives too and I urge you to search for it and confirm that truth. 🙂
DK. Spot on?? Like your claim like the Yuan is Pegged to the Dollar.
Or how about you quoting the low price of yearly Gold? Even after I posted facts of what is was, you keep your rambling the same BS.
Want to learn something, read instead of posting your inaccurate bs.
You daily montra is like on Wednesday you say “In 3 days its going to be Saturday” Then on Saturday you post some bs about, “here its Saturday just like I said. Check Wed archives.”
I say great DK, Here is a pair of pointy sissors, now go run out into the middle of the street and play.
WWHTI: The Yuan IS pegged to the dollar. Don’t you ever read the financial news? Google “Yuan Dollar Peg” Do your homework and get back to me.
Check the archives.
When I nailed the low price of gold off of its 1700 level, six months in advance, gold closed for the day at EXACTLY $1200 an ounce before it subsequently RALLIED, and then declined to about $1180 and moved sideways.
Obviously you cannot read what is written in BLACK & WHITE. My record is impeccable. Maybe Mac Slavo/Michael Snyder should do an article on my calls. They have been better than Wall Street and they are FREE!!!
BTW, did you notice that both Mac Slavo and Michael Snyder both have initials of MS ??? LMAO !!! 🙂
The Chinese Yuan is not the global reserve currency, and that is what is crashing right now. There is no force large enough to save the Yuan. It will drag down the dollar, you are foolish if you think otherwise.
This is the process by which the dollar gets replaced as the reserve currency. Dragged down and ruined, by the rest of the barbarian currencies, and the folly of the FED.
It aint like ya Thunk this all on your own DK. Most of us here already know this. But if you enjoy giving you noodle a kudos… I also see you go back into the archives to post comments weeks later, to post shit about people. Most here dont nees to back into the archives cause it all ready logged imto our brains. You just take offense when you talk out of you ass about stuff mainly ecomonics which is clearly disconnected with any facts or reality. Then never admit you are clearly wrong. You are kinda turning into a self indulgung troll spewing nonsense.
A must read article:
Mac, this could be a great article to read and post on. Chuck Baldwind nailed it about surviving a collapse.
He also addresses the 501c3 Churches that keep their fkocks dumbed down. Same as what I been preaching here for some time. But he really covers the gambit on Survival.
Thx for the link – will check it out shortly.
Why do you think everyone on the news today kept saying buy, or dont sell…..
They just want the sheeple to be the last ones without a chair
Had a laugh, one TV stock analyst said; “I’m not worried about the market, I’m a long term investor.” How can they say this with a straight face?
Myself, I am not worried about the stock market, because I am a very long term investor. Eternity is a long time.
They don’t want the sheep to step out of line during the crash.
The major media has been hammering the point, don’t panic for every day of this crash! Sorry, but I and my children have been out of the market for weeks you silly prats.
My outside motion detector just went off….. Damn you Bambi. We want to eat you, get in my belly, think your worst zombie nightmare, think really quiet crossbow! Zip…. Drag your fat Bambi butt into my garage, cleaned and dressed in 20 minutes…. Off to the freezer. Ahh just a dream!
You know when hunting season is getting close, the game go into hiding. Have not seen the 4 deer here in days, one is an 8-9 pt Buck. However 4 fat Turkeys just trotted in to lap up the crushed corn. The group of 15, I have had here for months, must have parted ways. Thus the saying flew the coup. The babies are about as big as the adults now Never poached in my life and just bought all the crossbow and hunting licenses. I’ll gladly buy the licenses to help the LEOs bust the poachers.
Out of the elk season, a friend who is a suppressor manufacturer awoke to a “bump” in the night. Investigating, his night vision showed dozens of elk moving through his pasture.
The punchline? His neighbor is a game warden. 🙂
Two important points that Snyder will never tell you:
(1) The New Covenant ended the legitimacy of the Shemitah.
(2) Under the Old Law the Shemitah included forgiveness of all debts.
The rabbis make a phony claim that Rabbi Hillel’s prozbul loophole was intended to protect the poor (a line of manure that Wikipedia parrots), but the prozbul transfer of private debts to the public ledger and then, after the Shemitah year, transferring the debt back to the original creditors actually harmed poor debtors. As Jesus charged, this is just one of many examples that the rabbis “voided the commandments of God for the traditions of men” (Mark 7:8-9)
The prozbul is a phony loophole concocted by the rabbis to allow debts to be collected after the Shemitah year and it was Hillel’s loophole that protected not poor people, but the banksters of his day.
In response to John Q. Public’s claim #1…
In response to Gary:
What JQP posted is Very TRUE indeed.
I doubt any of it is true.
Jews finding loopholes?
Who would of ever thought it?
I’m astonished by this information, this can’t
Hilarious! Good point.
the shemitah, or whatever you want to call it is for real.
It is real because it is based on God’s word and authority.
It is real because it was originally activated by God for the Hebrews, not the jews.
So what if jews of today, picked up on it and embraced it.
It is very much pertinent for the House of Israel today.
It is also pertinent for the House of Judah today as well.
Time will tell.
I think it started with Leah and Rachel. Just saying. 🙁
Thats Marcioinistic trash talk. There is nor never was a “new” covenant. That is to say Yahovah is a schitzo and the Son who came in His name (which you obviously know nothing of Hebrew culture) came and said “pay no attention to my old man, he’s all wet.”
That is why christains can’t convert jews, because at least they know that that couldn’t happen. Do some studying on what it meant to come in a master or fathers name in that time and in that part of the world and for cryin in the night, get de-greekified if you ever wish to have a chance.
The covenant cannot change, it can only be re-newed. You know nothing of Hebraic culture or history, know of greek/roman false indoctrination straight from Hasatan.
Your right on the money. Very few people understand rightly diving the word. Everyone’s making lots of money selling Jewish fables and fairy tales. And everyone is still preaching the great commission and Hebrew stuff. We are all under grace now and we follow Paul, the greater commission and the risen Saviour…
But you are dividing the work with a greek linear mindset and using greek translations. Greeks didn’t write the word that was inspired by Yahovah our Elohim through the set apart spirit….so why would anyone use their translations? The primacy of the second writings or RE-newed covenant was Aramaic and in fact Matthew was written in Hebrew. They’re countless mis-translations even in the 1611 king jimmy PER-version. And the greeks didn’t know the culture nor the idioms. If you want to really dig in, you have to look also at the culture, the history and then use Hebraic and Aramaic versions of scripture, at the very least, in addition to. Don’t be sucked into Hasatan’s stumbling block plan of hatred for all jews causing you to miss the truth. It has nothing really to do with jews or rabbis….ignore that hatred from them and for them. It’s a Hebrew thing, an Israel (not the political Israel or even the place Israel) thing in a spiritual sense. Yashua came for the lost sheep of Israel, which believer/obeyers are grafted into….not “The Church.”
If the Shemitah is no longer in play, then how come everytime it comes around the 7 year cycle something always happens?
Sorry, I’m not buying your reasons.
After 911 the where say the same thing…whenthe stock market opened…all the big guys sold!
When I first became interested in investing, I went to the library and started reading every book they had on the subject. After three books I noticed none had a chapter or index reference on “Selling Stocks”. Eeeeerrrrrrrrr!
I started looking only for books that had a chapter, or index reference on selling stocks. It was a really short list, and a real eye opener.
It became obvious most of Wall Street was a fraud! They had little more clue than a newbie!
I actually like Jim Creamer and Rick Santelli on CNBC. I have little respect for any others. Jim Creamer is underestimating and missing this crash so far.
Fox business news is too political, but I prefer their ticker. It’s more informative.
You can invest and make money, but it’s very tough today with such overt government manipulation by every nation on earth!
Stay frosty, you can make money, these fools can be quite predictable.
yes and which bankers have the trading software that controls all that?
I used AI neural network software for predicting Wall Street for several years. I created an awesome algorithm for predicting stocks. Gradually over months I watched it loose it’s advantage as large wall street firms did me one better.
It was, a huge lesson in the power of big money. I soon discarded AI be caused I realized, I couldn’t compete in that arms race.
Big money would always ultimately win.
I’m good, but they had twenty good programmers constantly searching for the next big thing. It was an arms race I could not win.
I continue to invest, but at a lower level. I aim for the sectors too small for the big guys to bother with! I’m doing just fine.
Thank you again for all your hard work SHTFplan.com. It did help save me, from being sucked in.
As the vultures land and rest/perch on top of the horizontal brace of the telephone pole and wait……eyeing every morsel they could possibly glean…..time is their friend.
GREAT VIDEO!!! At Unrepentant Cowboy website…
Scroll down for “Preparing for Jubilee” and you will see the video after that. The video is called “Prophets of Doom” and tells of various experts’ predictions. (The financial expert is the most ominous one).
Gasoline prices at The pump are manipulated. What I am saying Gas should be at about $1.50 right now. Ever look at Pump Prices vs Barrel Prices.?? There is a disconnect. These sobs will not let gas drop below $2 range. There is a huge glut hundreds of tankers full of oil just boyed out waiting to come into port to dump their loads. And then they dilute the gas with ethanol. 10%. OH TAX Payers subsidize the Oil Mafia yearly as well.
Yes. For many years I managed a convenience store when I was younger. When gas was around $40 per barrel we were retailing unleaded for $1.25 or so with 10 cent spreads per grade. During the asian financial crisis I sold gasoline at my store for 0.69 cents a gallon.
This isn’t some “I remember when I was a kid . . .” story. I was a grown man and had earned several promotions to store manager. I’m only 40yo now and the price has more than tripled in my working lifetime. Gas will never be that cheap again even though oil is the same price as before.
Gas is still dropping in eastern NC. It’s down to $2.17 today.
triad nc 2.13 today
I think the price may break the $2.00 barrier in a couple of weeks if everything holds together long enough.
Gas dropped about 20 cents last week to around $2.20 in my part of TX. After Labor Day it will drop like a rock. Right now compared to last FEB. it should be about $1.70
We got one more big driving holiday to go.
Over at thecommonsenseshow.com, “Thanks To Congress, the UN Plot to Seize American Guns Just Took a Giant Step Forward.”
Brave…I am looking forward to meet and greed the UN troopers.
Obama signed off on it yesterday, but it’s not as if we didn’t know this was coming.
We have bigger problems than this illegal order, besides.
We all know what to do if the UN decides to confiscate guns.
Not a damn thing… mine are not on any leger…. so… I have none… Boohahaha…. My sheriff will never partake in this and us folks in the PNW can hit blue helmets at 250 yards….
Clinging to my guns and Bible.
Ha.. try that gun takey program here is Red neck Northern FL they will get fed to the Gators.
Like the cowards as they are, they will go for the low hanging fruit first. Like here is a $200 food card for your AR15. After this date you are in violation.
Today its 5 guns behind every blade of grass. Give it your best shot UN btches!! Im ready for the blue helmet spatter game to begin!
They’re blind because where are you going to go, what are you going to do?
If there was a viable option people would be doing it but there isn’t. You can’t cram this many people into the countryside and have them all go hunting deer and crap.
For that matter unless you happen to be able to grow literally EVERYTHING you will be needing for the next 40 years (hint: you’re going to need a small group to even begin to try to pull this off)… then sooner or later, you’re going to have to go into town and buy something.
And if you’re not making interest on your money… you’re going to find that rather difficult in about 15 years.
And your point is???? Bullshit, that’s what. “grow literally everything” – let’s start with that shall we? You going to grow a set of balls? How about a working brain? Personally, I’ll do with what I have and can make, while you “go into town and buy something” see you on the other side genius.
I love these armchair warriors who have never been in combat, let alone been part of a small team that has to make do with what they have and their ingenuity to get themselves through things.
People, do yourselves a favor and make sure your bullshit meter is operating when you read comments on websites that are full of bs from some basement.
….and today brings +325 and all is great, and nothing has changed.
The days not over.
The day isn’t over yet. Last I checked a few minutes ago, the S&P and DOW were nearly right back to the lows of yesterday. IMO, I think this is just a dress rehearsal for the ‘big event’ yet to come in September.
Or not and it’s down 205.
All those gains lost and then some. Buckle up, people…it’s going to be a bumpy ride! IMO, this is just a dress rehearsal for what’s coming.
You should save your arrogant trolling until the market closes for the day—OOPS, LOOK–down several hundred more and OVER 600 more since your post this morning….
Its just going to keep going down,
+600 on Wednesday Jackass.
-205 on the day. Looks good to go.
Wednesday will be another Negative Day too!
Keep the Trend going, let it Fail.
Those that say no to a failing market are the ones who had not planned accordingly. Shit happens, time to toughen up about it.
That’s right, let it fall! Reset in action
Something to consider: As the DOW goes higher and higher over time, 500 points means less and less. So to scream about “Never Happened Before” kinda stuff is misleading.
500pts at 16-17,000 while not insignificant, in percentage terms (~3%) is a WHOLE LOT different than 50pts in 1929 when the DOW was in the 260ish range (19%).
I do think many things are coming to a head, but it ain’t quite time to go “Chicken Little” just yet.
Bubbles don’t correct, they burst!
They are just masking the problem with more Duct Tape.
That roll of duct tape is not teflon but kevlar. I am continuously amazed at their ability to keep the sharade going so well for so long.
The Algorythem Trading Computers are making a killing. Are they people too like Corporations? Do they pay any trading gains in taxes?
Ever ponder just where all that rubber on everybodies tires really goes when they wear down? Thays a lot of rubber disappearing…
I say its lost in heat and popin the clutch and peeling out laying a double track with the posi traction jacked up GTO 6 bbl ripping the treads to bits. Back when gas was 39 cents a gal. and a night at any KOA Camp Ground was $3 to $3.50 any spot first come.
FROM “UNREPENTANT COWBOY” website…
Approaching jubilee: The wait is over
As we approach the end of the shmita and the beginning of the New Year according to the Hebrew calendar, the cloud that has hung over my head for the last year seems to have lifted.
But now that the event draws near, it’s time for action….
I was made for this day.
For those with ears, the season is at hand.
Agreed–but the FED is out of bullets—can’t QE again and debase the currency further…can’t drop interest rates lower than zero ( technically they can but the affect may be the opposite of what they want)….the markets and banks are out of liquidity and can’t buy their own stock back in a pseudo-Ponzi scheme to reap profits off of artificial highs..
Fake growth numbers, fake and “redefined” inflation calculations, fake employment numbers, no manufacturing going on and tapped out consumers with dwindling credit left—should be amazing to see how TPTB turn this one around…….
“should be amazing to see how TPTB turn this one around…….”
The answer to their problems …….. Global War!
Interestingly many of the comments here clearly show many are still blinded by the illusions and will become victims this time around as it all unfolds!
and Michael your question “At this point, everyone should be able to very clearly see what is happening, and yet most are still blind. Why is that?” is easily answered.
We all live in massive illusions and the idea that we are in a recovery and all is well economically is just one of those illusions created to control the masses and fool them. Americans have grown fat, dumb, lazy, spoiled and cowardly,sorry to say. But just look around and at many of the comments here and it is quite obvious our own people are a big part of the problems we all face from the control freaks we call government ! Most here do not even seem to realize that we have no free markets. And Michael you did not mention that rule 48 was invoked both on Monday and Tuesday ? That is well past proof of any free markets. It is all just giant manipulations via massive cyber dollars fed to the central banks to make people think all is well and America is still the land of the free? HA HA AH AH HA , a serious bad joke that many still buy into apparently ? Actually everything we see as policy from this regime is just a giant manipulation and nothing more. One would think that supposed prepper or preparedness types would see thru it all but apparently not ? So the carrot on the stick still works for the control freaks to control the masses ! All the answers are quite easy and not just economics, but it does require personal honesty and a bit of courage and common sense. I am well past tired of babying the idiots !
DiET, went to your site, interesting.
Maybe I missed the comment section.
May all be well here…
I do my site very different than most and do not have or want a comment board or such. I know what I know from hands on experience in business and many other significant endeavors and give a lot of excellent info for free to help people understand what is going on and why. A lot of stuff to use immediately and make your life far better everyday. Unlike most, there are no popups or adverts of any kind, just excellent and useful info and a lot of truth of many matters for FREE.
TnAndy: You got the fox on the run. We lost 500 points in one hour in October of ’87. The DOW had just went over 1700. A third of the DOW gone in one hour and we still survived aok. The DOW has lost ground, but in percentage points, not that much. It is hovering somewhere around 16,000. The DOW closed for the first time ever to the North side of 16,000 on 21 Nov. ’13. We were doing great then and we’re doing great now. The trucks are still running the interstates, food is still on the shelves, the drug stores are stocked, and on it goes. Now sir, tell me this please. How the heck did we decouple from China? Their markets are dropping faster than Ashley Madison memberships, yet we are climbing back into orbit. They told us for years when China goes, we go. Didn’t happen! I don’t have a clue as to how they pulled this one off. China has got to be shell shocked. What now?
What drugs have you been taking from CNBC? You clearly have tunnel vision if you think all is well.
Another example of morons in the comments here. I guess not all preppers are smart afterall.
Assuming you mean me, Mr. Anonymous, I did NOT say all is well. What I AM saying is we have been reading “the sky is falling” Chicken Little headlines here now for YEARS…..and yet, the sky is still there.
Clearly other things point to economic problems, if not a complete disaster in the making (oil price, copper price, etc)….but let’s STOP with the Doom Porn, and have a rational discussion.
Personally, I’m not in the market, and haven’t been for many years. My financial efforts have been directed at building a small farm that feeds us (80-90%), provides our electric power (100%)(solar), and so on. Our place and preps probably rank in the upper 1% of all such places…..because I do believe we will eventually have to rely nearly completely on them.
But inevitable does not equal to imminent. And frankly, I’m tired of reading daily the sky is falling. We need good information, not daily doses of chaff.
” I’m tired of reading daily the sky is falling. We need good information, not daily doses of chaff.”
Then goto CNN, MSNBC, ABC, and read some feel good news.
Great observation. Not only that, but what about the effect of inflation in the stock market?
I’m not as concerned about the return on my money as I am the return of my money. – Will Rogers
TnAndy- you make a great point. The PERCENTAGE of drop off is far less than the crash of 1929. When a jar of peanut butter was 39 cents, a 6 cent off coupon was a big deal. Now, that same coupon would be a joke. “A lousy 6 cents off a $2 product? No thanks!”
Today, most folks won’t even bend over to pick up change from the sidewalk (at least nothing less than a quarter). The calories burned, the energy exerted and the potential cost of chiropractic service makes it unprofitable.
Factoring in inflation, a few thousand point drop in the market is today’s ‘correction’, not a crash….
Of course, if the correction keeps on going…?
The better question is: where is the bottom if this is only a correction?
The dow has been down for 6 days in a row. Commodities are plunging to 2002 levels. It’s more then just a “correction”.
might be because many Americans have grown fat dumb and lazy ? ever consider that simple fact ? and sometimes we all need to look in the mirror or look at the log in our own eye ?
“Something to consider: As the DOW goes higher and higher over time, 500 points means less and less. So to scream about “Never Happened Before” kinda stuff is misleading.”
True enough, and that fact was first recognized by Richard Nye in his book “The Wall Street Gang” where he predicted greater and greater volatility …..
Forty years ago. 🙂
You seem to be leaving out an important fact that the dow dropped 500 points two days in a row. That’s a 1000 points in 2 days.
Your way of making it sound like its not big deal is disingenuous at best.
Last Friday DK claimed the dow dropped 7%. No shit check the Archives. Then someone posted “No DK only 2 % drop.”
Watch the DK weasel squirm out of that DK Quote.
Really check the archives.. bwhahahahaha
WWHTI: Yes I did say that and it was a mistake. But the drop took the DOW down 7% off of its earlier highs; not for the day. My bad and I admitted that I misspoke.
Grasp at straws much, asswipe ??? 🙂
The next two months should see a slide in the 20 to 40% range. The fundamentals are terrible, but it’s hard to predict and plan when the market isn’t free and depends more on what the feds do than actual value and earnings.
Still, there aren’t any market fundamentals that would lead one to think things are going to improve anytime soon. The rest of the world is quite possibly in even worse shape.
agree on all points ! check out my site for much more
Exactly right RiI.
As for the markets, all of them, they are built and crushed by “hype”. The builders are crying value when a correction occurs, and the crushers are crying debt and doom.
The fed reserve and governments throw paper/currency, printed out of thin air at the markets and voila’, everyone invested is dancing a gig. The green numbers are back again. Hop in while the gettin’ is good.
However, after years of being riddled with debt and corruption, people start wising up, and see thru the charade of smoke and mirrors, and realize they just might loose more than their ass.
Then they no longer fall for the “hype”. I think things are so bad in all economies, the jig is up, and people just want to be out of debt and out from under the control of the elite.
It begins with the small investor and eventually gets into the minds of the middle class and retirees, to get out while the gettin’ is good. The minds of folks are working overtime on what to do and what is to come. Although the article by Mac and Snyder above is great info, it does little to inspire the minds that are already working overtime trying to figure out the unknown.
See, the unknown, is what keeps people awake at night, and which leads to stress, which leads to all sorts of negative things, and especially…bad decisions.
I have written a little piece on precisely that, from inspiration I received while chilling/resting, at the ole retreat/B O location, this past weekend. Soon I will post it for those wanting some inspiration of their own.
Anyways, the point here and now is this; when enough people believe there is a lot of bleeding left to go with the red numbers on the markets, there will be a point of no return.
I believe, and I could be wrong, but I do think we will not see the highs from earlier this year, ever again.
Most experts agree that the market was overvalued by 203%, minimum. Not necessarily every single stock, but as a whole average.
Time will tell, just how many people gamble away fortunes, and how many use the tools to make fortunes, from the volatility.
I spoke with certain folks about Harry Dent, and his predictions over a week ago, and they sound pretty grim. For some, if it comes to fruition, it could spell the Grim Reaper.
The simple problem is that much of the big money is already out and the small investers are the ones really losing. JP Morgan has been pulling and buying gold. The little guys will eat the loss but the big ones will make money selling short and then jump back in and snap up bargains. The solution is not to play a game stacked so heavily against the private invester.
Smoke and mirrors of false hopes of reality. the masses just either don’t care or just don’t get it.
We humans will continue to eat at the troth as long as they(TPTB) keep throwing in the slop.
Ignorance is bliss!!!!!
It’s not over yet. More downside. Wait until Friday. Just saw on TV that the banks are allowing mortgage applicants to include the income of extended family members for consideration for a home loan.
That’s friggin awesome. Now you can eff up your whole family and get bill collectors on THEIR a&^ when you can’t pay?
Great. That’s wonderful.
Well, you’re quickly going to be able to tell who doesn’t give a sh^t about their extended family. It will be the people doing this. How completely jacked would you have to be to sign someone ELSE up for a sh*t deal like that?
Wouldn’t help me anyway. My extended family are all takers. They’re part of the FSA and are helping the rest of us to stay on the ‘Work Till You Drop Dead’ plan. Man are they getting heavy (in more ways than one).
You could have sliced my aunt Pearl into three pieces and had THREE fat women (every hillbilly family is required by law to have a Pearl).
Its not over, it is just getting started.
It’s not any different that 1932. after the 1929 crash, stocks rose 80%, but then in 1932 the real decline set in and it was crap from then on.
With the FEDs Quantitative Easing it has delayed then 1932 decline for 6 years, but now it can’t be delayed anymore.
You must have been looking at the same graphs and charts I have.
I think we are going to have a repeat of history very, very soon.
The house of Rotchschild’s must be destroyed to end this global pain once and forever. It won’t be easy and will be bloody as hell but it is the last hope for mankind to cutoff the chain brought by the criminal tribe and its minions worldwide.
Revolving Door. Another War Monger retires with a fat pension to join JP Morgan Chase Bank.
The only way is out of this is WORLD WAR –
Thats more true than you realize. Not because Russia is a dick, but because when there is economic depression and massive unemployment, radical politicians get elected.
Then they blame other races and other countries of there woes. Just like Greece blames Germany. Just like Obama blames white males.
Look at Honduras as an example. Total shit hole of a country and it is the murder capital of the world.
Make me want to buy more bullets.
Stupid peace loving liberals and progressives have always pushed for war!
When economic policies fail, war seems to work for them.
Celente is right on that point–When all else fails, they take us to war.
“Why is that”
Cause I enjoy taking my daughter to kindergarten for the first time, staring up a new fellowship program at church, watching my son start pre-K, going to a local high school football game on Friday night.
All these are things in either doing or will do this week. So I’ve done what I can to stay outta the masses if it really does hit the fan, but I’m gonna hope the folks pulling strings can keep the puppets dancing, then so be it and I hope they can.
I’m no rich guy, I’m lucky enough to have a good job, I racked up student loans to get it, so if that’s giving to the system to able to maintain a good life IMO, I’m ok with that.
I’m probably in similar shape, and while on an intellectual level I’m opposed to fraud and theft, every year they kick the can down the road is a year for my fortunes to improve.
I have a pretty good short term hedge with food stocked and such, but my long term investment, our farm, still needs time and work.
Mt union pension is invested in the market. It was in critical condition before this mess. No telling where its going to be at the end of the day. While I don’t have investments in the market myself we are all affected in one way or another by this. Social Security isn’t far behind. The only solace I have is I don’t have any other debt. Too bad the government can’t be in the same boat.
I am counting on my wife’s pension being wiped out. They already pruned in back hard after the 2008 crash and then again a couple years ago. That thing is going to be down to a bag of peanuts and one of those aphorisms on a little piece of paper you get in fortune cookies.
Thank God there is a whole world of MILF porn out there!
Jim in Va.;
Wow, are you at the wrong web site for any consolation. I don’t think you need to panic. Most anyone over the age of 55 or so own their home outright. It sounds like you are one of those. If you have a modest amount of cash on hand and in the bank why not stay in the market? Should you dump your stock and buy twenty thousand bags of black eyed peas? Most folks here will berate stock accounts, real estate, etc. I like precious metal but how much would you be comfortable owning? It also is not without it’s risks and price fluctuations. If you own your home and have several hundred thousand dollars do you want to go all in on anything? If the market recovers I wonder how many here will step up to the plate and say, Gee I was dead wrong?
If your total net worth after owning your home is $10-20K your strategy will certainly be different than if it is many times greater than that.
I would like to hear some other peoples strategies. By the way, we are in good condition of the prep front and work hard at it. How about Durango Kid? You seem like a guy with resources. What are the vehicles that you choose for your capital preservation in these times? This is not an assault on anyone. This is a learning expedition. Thank You.
As you point out asset level and income does matter but the general strategy is the same:
1) Short term investment is 3,6, then 1 year food and water.
2) Cash on hand for 1 year of bills
3) Pay off cars, trucks, and house
4) Move long term financial investments to short term money markets (you can still get a guaranteed 3% right now) until the market bottoms; then move back to a more balanced portfolio.
5) Long term hobby/non-financial investments that will give yield down the road. Think fruit trees and garden or a hobby that might generate secondary income like writing or editing.
6) further diversify revenue streams, be that annuities, royalties, rental property, leasing out farmland, or whatever.
Read Dave Ramsey and several other financial people and you’ll see the same pattern. Build short term emergency funds, pay off debt, diversify long term portfolio and try to remain flexible.
Too many options to describe for all income asset levels, sorry.
This is a little different strategy than most. I quit. That’s right, quit. My goal is by the end of the year, if we make it that long, is to be homeless. If the world implodes in the middle of September then the goal was achieved 3.5 months early. I’ve been practicing and working hard at not only living off the grid, but living out of the woods. It truly can be done in warm country. Don’t know about cold country. I’m sick to death of society’s laws. Sick of paying $300.00 monthly taxes to live in my own home. $100.00 a month for garbage pickup, water, and sewage. Regardless of whether the economy collapses or recovers is immaterial. There is just no place left in this world that I am comfortable. If I had my life to live over again I would never have learned to read or write, nor would there be one day of gainful employment in it. It would have been a life void of Mondays. Everyday mine. Instead of taxable property, the woods, fields, streams, and pastures would have been my home. I wouldn’t have owned anything, yet enjoyed everything freely, as Christ intended us too. In closing, there is no viable strategy when the indentured participant is forced to play by someone else’s ever changing rules, on their ball park, at their admission price, ensnared in their financial model, with the right to evict, punish, penalize, and place you in jeopardy of losing possessions, freedom, limb, and the greatest free gift of all; your life, with no legal right on your part to even complain without being held in contempt of laws that no ordinary person can either read coherently or understand. Here is one case in point. Next time you have a vehicle worked on, read the mechanics lien. They own your car. Of course they say you are signing to just authorize them to do the work. Nothing is honest anymore. We’ve lost the game and were never even allowed to see the scoreboard. Sign here please. Trust me. You R Screwed! I no longer want any cheese, I’m gett’n the hell away from the trap. Permanently. That is a strategy.
Atlas shrugged. Read it then decide which character or combination best suits you.
Know that many are thinking as you are and we love you.
I am a free person.
Funny you mentioned Social Security.
I say this to you because you have spoke of being a Christian and I know most true Christians believe in signs and visions, and occasionally visitations.
A friend, and modern day prophet, had a vision in a dream of a kitchen table with many social security checks piled up and strewn over it. The occupants of the house were staring at the useless checks, saying, “what good are they when there are no banks to cash them.”
What a concept, to starve people to death while taking everything they own. But, as my dumbass brother likes to say, “It won’t ever happen in my lifetime”. lol. famous last words from someone that was just about ready to cash out about half of his company stock, and retire. But he wanted to see it go up a few dollars more. Exactly the same amount he wanted to wait for in price increase, it fell by that, and instead of profiting an extra 80k, he has lost that much, in less than two weeks. It may regain in time, but it ain’t lookin good today.
Ya’ll think about it.
Your friend a prophet had a vision that social security checks are going to be useless?
Your friend is not a prophet. Anybody who has been paying attention knows that social security, EBT and others are not going to be funded. That is not some kind of special vision to forsee into the future, it’s called common sense!
Glad you understand the difference.
It has long been planned that September/October would be the time for the global reset. We have trained and prepared since the late 1990s for this. We are ready to go. I think it was a little rough there for a bit but the global reset is back on schedule. The delays are attributable to having a room full of a-holes and an all-you-can-eat seafood bar. There is that initial pushing and shoving as everyone gets positioned to get the lobster and the free martinis. But once they settle down, then the eating gets going.
Putin wanted to get on board and so did the ch#nks. They are now on board and so forward with the New World Order.
Sorry Frank, Putin aint Bording any NW Order train to hell. Lay off the meth. Obama on the other hand has his shoes shined, 40’s looking wide brimed hat and train ticket. And the NWO said he could drive the train for a few mins. Putin has more American values than our Zog Puppet Pretender.
Wudda u r stoopid Putin will hold out till the price is rite
It could fall another 1000 points and it wouldn’t matter. This is just fearmongering meant to scare you into buying silver.
Another moron commenter. Go back to watching MSNBC and Fox Business.
I agree with Michael, this is just part of the beginning of the inevitable. We have lived in massive illusions for the last 6 years and they can only be maintained so long with lies and cyber dollars fed to the central banks to keep it all afloat. There are no real markets nor is there any free actual capitalism? We now live in a corporatocracy which is a consortium of government and large corps, very much akin to Fascism. That is why cronyism and corruption is rampant. The only good news is that about 2 years ago we reached a point where the many illusions started to break down. Around the same time there was a concentrated effort by Russia , China and others to undermine USD as world trade currency in a very big way. They have made tremendous progress in those efforts not because they are the good guys ? But because our system is so seriously broken at every level and all policies are dead wrong ! All we are seeing is the natural order of events play out to fruition because lies ,distortions, and manipulations can only be maintained for so long ? They are all breaking down now because there has been enough time pass for the proofs to show up in every aspect and counteract the lies. The simple fact is that we all live in many illusions here in USSA today ! Therefore the only valid answer is to fully understand and grasp the illusions for what they are, control mechanisms ! If you simply stay in the illusions you cannot defeat them and they will control you and only get grander. There is a much better way to be sure !
I was going to read your web page until i saw the half naked pictures of some old dude. I could not exit quick enough!!!!
are you afraid of being healthy ? or ashamed of your own body ? just curious. I am all about health fitness, well being and of course the truth of many matters ! I was crippled for over 5 years and healed myself and now have the body of a fit 25 year old and very glad of that ! and the negative is ? your perspective or lack of knowledge 🙂
wh would anybody be ashamed of their body if they have done the same things ? unless they are fat and unhealthy ? And I give most of that knowledge for FREE ! what do you do for free to help people besides knock others ?
this all sounds like a bunch of waaaaaa waaaa cry baby shit
if you signed up to be a Pig than take your punishment and quit trying to make those you beat and kill feel sorry for you
read the comments .. people are waking up and pissed at these thugs ,,
I myself have no need for a cop, or any cop ..If they get the F outa my way I can deal with what comes my way without them , just dont show up late to the party like you know WTF is going on and who should be prosecuted, or in their case rail roaded beat to death or shot in the back
Whiny shit heads like you are pathetic. Let me guess…. You are a sore looser that got arrested for a felony now you can’t own guns. You are probably a pot head too.
Blaming cops because you are too pathetic to not get caught.
Every time I have been pulled over on a traffic stop the police have been courteous and treated me with dignity and respect.
So you can take your cop hating attitude and go fuck yourself.
Hahaha so far off the mark its not even worth replying to
Go fuck yourself John Stiner
There will come a day very soon when it is not a dry run.
Yep and sooner than most realize ! how many signs does one need ?
If im put in moderation prison for the comment i posted above , and or its not posted Im done here
seems we no longer can put a space in the internet address to get it posted faster .. so I will not be posting links to anything i find ever again here
is this place is going by the way this country is going?
May we have your undivided ATTENTEION please: Do to the shrinking economy, the falling markets, and the FRN’ losing its value. We will have to raise TAXES and FEES’ to cover OUR LOSES. In doing so we would like to say how THANKFUL we are in your participation in this time of OUR need, so to show that we are taking away more of your FREEDOMS. Remember we are the GOVERNMENT and WE ARE HERE TO HELP YOU!
Stop Feeding the BEAST!!! As long as we do nothing they will do EVERYTHING for their benefit.
Not sure if that was a tingle running down my leg or wet shit settling in my knickers.
The DOW has dropped over 200 points into the red in the past few minutes. I think it’s going to close in the red. The other indexes are in the red also.
The DOW closed at about -205 points.
the only way ignorant americans will ever learn anything is everything they have worked for be taken and they be left in poverty and homeless.
charlie2dogs, The majority of Americans are so brain washed that they would accept the poverty and homelessness as long as they get a free TV under a bridge to watch the ZIO owned media and their garbage programs. Sad state indeed.
You forgot the ever present Cell phone.
Sad but true
There is some truth in that comment to be sure. Many buy into the many illusions and have no idea they are living in massive lies ? can there be any doubt materialism in USSA today is part of the control mechanisms.
The Plunge Protection Team (and heavy doses of propaganda) pushed the DOW up around 400+ points today, Tuesday. The DOW finally closed at -204. I’m no expert, but this signals me, that real market forces, are overpowering the best efforts of the PPT! Get about your prepping and forget about saving your market invested pensions. Prepping is something you can do something about, pensions? not so much. As the saying goes: There are not many tomorrows left. Time is critical. (Prepping means guns and ammo.)
Today is the last day before tomorrow.
it means a lot more than just that for sure ! Fat guys hoarding beans and bullets will not fair well very quickly? There is a much better way to be sure. and most of it is FREE !
Ignorant Americans…. and what shit hole are you from ?
There are a lot of ignorant Americans, what planet are you from?
Then leave shithead
You must be from the same shit hole, if you don’t likr here then leave…..
are you saying you like what you see here ? or are willing to keep going along with the insanity ? There is a lot that is way past wrong and it starts in out own backyard ? Need to look at the logs in our own eyes and ten count cooh on who is who in the ZOO ! America is whacked and needs a serious redo !
can you honestly say Americans have NOT grown fat , dumb, lazy spoiled and cowardly ?
If not why does every body roll over on PC and nobody does anything to stand up to these control freaks ? Talking shit on the net and being a net tough guy is NOT taking action. It is just more fantasy and we have had enough of that for a life time! There is a lot all of us can do. Join OathKeepers for starters or STFU ! They surely deserve your support and they may be your last chance ?
Items to stock that you don’t think about
1. Shoe and boot laces – yes, you could use leather laces but why not stock some?
2. Fence posts – entirely too handy not just for fencing but for gardening
3. Barbed wire and chicken wire fencing
4. Cloth diapers – handy for so many things other than the obvious
5. Manual egg/batter beaters – whisks work, but the old-fashioned egg beater is hard to beat
I have been stocking up on classic tools. Like hand saws, brace and bit drills and other old time tools. I have found lots at garage sales for almost nothing.
If we ever have a long term power outage, power tools will be gone too.
Plus it is fun to do woodworking with tools from the 1920s.
Candles and candle making items-wicks, wax. Aspirin and Ibuprofen as well. Then there’s fishmox-antibiotics from pet supply stores-no script needed.
The coin shoo here is doing a brisk business in selling all the silver rounds he has, along with “junk” silver.
I heard Kudlow on the radio more or less pleading with investors not to panic-well, got news for his sorry behind: you sir, are irrelevant. You screwed the pooch the last go round-and a lot of people got fiscally slaughtered on account of your “expertise “. So, pardon us if we turn the volume control to the left.
And the gold and silver Hawks turn up the volume on adverts to buy certificates-because if you buy said paper, you’ll weather the financial shit storm. Wrong. If it ain’t in your Mason Jar Account-you don’t own it. Those paper certificates are resold 100 times over so you’re on the bottom of the food chain.
Pray. Prepare. Think. Plan. And keep a level head.
Don’t forget this started last Thursday. This is now 4 bad days in a row for the stock market.
Interesting that not all stocks are in the tank. Apple, Google, Faceplant yes, but Ford and AT&T have hardly moved at all.
Oh they moved, and buyers bought, I think it was facepaint, that went down to 80 and then bargain hunters came charging. One broker/firm, bragged of bagging 100,000 shares at that price.
If my calculator is working right, that was an 8 million $ buy, just from one guy/firm.
Reminds me of the guy walkin out of the liquor store with a half gallon of whisky. An old Indian was walking by and said “good drinking”. the guy said, “oh, i got this for my wife”. Old Indian said, “good trade”.
1. Shoe and boot laces – yes, you could use leather laces but why not stock some?
2. Fence posts – entirely too handy not just for fencing but for gardening
3. Barbed wire and chicken wire fencing
4. Cloth diapers – handy for so many things other than the obvious
5. Manual egg/batter beaters – whisks work, but the old-fashioned egg beater is hard to beat
550 Paracord makes great for shoe or boot laces. Just melt the ends to seal them.
Port a potty. Lugaloo and seat that fits on a 5 gal bucket. Groc Store plastic bags fits it great. I ask that all my groceries be double bagged. And toilet paper and a mass of paper towels, paper plates, plastic silver ware…and antibactetial soap. Wash your hands clean before you eat.
Lions Tigers and Bears Oh My!
If we make it through December,
everything’s goin’ to be alright I know.
It’s the coldest time of winter, and I shiver when I see the fallin’ snow.
If we make it through December, got plans to be in a warmer town come summertime, maybe even Kalifornia, if we make it through December we’ll be fine.
Got layed off down at the factory and the hours aren’t the greatest in the world,
Heaven knows I’ve been workin’ hard, wanted Christmas right for Daddy’s little girl,
I don’t mean to hate December, it’s meant to be a happy time of year,
But my little girl don’t understand, why Daddy can’t afford no Christmas here, If we make it through December……
Thanks for the tune, PO’d…
Now I gotta dig out some scratchy old vinyl to play…
thats facking deppressing 🙁
Stocks closed at 15,666.44 could this be a sign from god? Or the devil? Or both?
anyone seen a NK Sub, I was told they would be around here.
Ask Jared, he knows a lot about hiding subs.
The recycling thieves stole the subs and took the to the recycling center for some quick cash!
LOL! That’s probably all they’re good for.
Or maybe they’ve been sold to the Mexican drug cartels for smuggling dope.
Saw a clip of the wall street azz clowns smiling and cheering at the end of the closing bell. What a bunch of smug a-holes. I always cheer and smile when the markets go down too, but for a different reason.
I love it when the analysts say, “don’t sell, stay in it for the long haul….” The same time they are dumping their shares.
At my age my hearing is not the best, but I think I can hear the fat lady singing.
The market started its downward plunge last Tuesday. If it does continue for the rest of this week I would say the FAT LADY IS SINGING!!!!
Keep Prepping, Keep Praying, but Stay Calm And Carry On
Not singing yet Reb, but I think she may be warming up a tad.
I did hear some yodeling today at Sam’s Club. Got more preps and new rubber on the vehicle, before the price goes up. With all the unemployment coming, and all the people staying at home, there will be a run on rubber(s).
Can’t be having babies with no jobs or gov handouts, so wearing rubber raincoats will be the new fashion statement. Don’t need those with a barren wifey. She couldn’t handle the smell of burning rubber anyways. lol
Big deal, people who can afford to risk their money in predatory crony capitalism manipulated to fatten the fat cats further. It does not have to reflect reality, would anybody put their money in if they could not afford to lose it? Meanwhile the poor peons in lower slobovia are expected to keep their meager pittance in the bank that pays zero interest. The greed is astonishing. Food prices to the moon, housing costs orbiting jupiter and warmongering in deep space up tptb’s uranus. People can always try the lottery or wishful thinking for dummies, whatever you call it. That piece of fancy printed paper scratcher probably cost a few pennies to print, big money in suckers. I read where a lotto drawing number came up on the televised drawing before the actual lottery ball came up. There’s a sucker born every minute and two to take them.
What happened today is referred to a “Profit Taking.” The big money people worked the after hours futures market last night, taking advantage of the losses inflicted upon the small investors during regular business hours yesterday. At the opening bell they kept buying, driving the prices ever higher, until close to the closing bell, and then had a fire sale, reaping billions in one day profits. Billions were made for the people in the know, and the little investor will never know just how he got dryboned. He just knows it happened. In closing, we are not in the “midst” of a financial meltdown. The people intended to make and keep the money have done their deed. That’s all and nothing more. China is in the midst of a financial meltdown, not us. thanks
When China explodes, so will the rest of the world.
“. In closing, we are not in the “midst” of a financial meltdown”
I’m sure they said the same thing in 1929…
Yep, the market is down another day, but markets go up and they go down. And there has been a market/economic collapse every 75 to 90 years for centuries. This is a valid perspective and fact. Some people are posting they believe a huge collapse is at hand. Maybe so; but there is no doubt eventually it will end and progress will resume. How do I know that? One is history, every society wanted to progress and reduce suffering for itself, even when things got very bad. The other is human nature, fruit cakes and people with useless lives want things to get bad and/ or stay bad. Normal mentally healthy humans always desire to improve their condition, if not there would have never been progress at all, those who don’t are sociopaths or even psychopathic. Now some psychos will call me a denier, not at all. I am a prepper, I know some rough times are ahead, yet I still do not want to see any suffering. But some people writing posts on this site are in a state of glee when bad news comes in. Now, the U.S. as a whole will not collapse, it will be affected differently by region, some areas bad, some not so bad. Sorry, about not agreeing with the losers, I know and have read some guys cravings for a civilization wide Mad Max scenario, but it won’t happen. No, we will not see a mass meltdown of all nuclear power plants, no asteroid strikes, no Chinese invasions, etc. I know many want to go out and shoot someone and then call your self a warrior. Me and my brother are both ex-Army Rangers so trust me a lot of guys who think they are warriors aren’t. They’ve had it wrong for years, we’ve see they cannot properly assess situations nor learn from mistakes. Still, Our society will endure a lot hunger, homelessness, sickness, crime and violence. I really don’t care if anyone agrees with me or not, but I can say that those of us who can think clear and objectively and respond in a more appropriate manner will say one day “I told you so.”
Yea Sling, he lost me at…”for centuries”.
Pass,markets have crashed for centuries,think Tulips as a example.
The South Seas Bubble.
If you want to count it that way, OK; but, I think this will be the last crash, when it actually crashes.
All it is right now, is a correction and an ‘indicator’.
In fact, a trigger indicator of what is soon coming.
I am seeing a natural, or better said, a supernatural disaster coming that the markets and the world will be awestruck over.
Then the fat lady sings.
By Anthony Mirhaydari January 15th, 2015
The Bond Market Is Warning of Huge Trouble Ahead
Collapsing long-term yields reflect rising debt-deflation fears
For all the influence of the global central banks in this business cycle, with the Federal Reserve alone taking its monetary base from $800 billion to north of $4 trillion while holding short-term interest rates near zero percent since 2008, the bond market still operates according to the concepts of basic macroeconomics.
And it’s warning that we’re in trouble
Related: Why Oil Prices Are Headed Below $35 a Barrel
The “only” way out is to engineer higher inflation and/or wipe the debts away via default. If the problem deepens, as the bond market is warning, I expect more drastic solutions — more so than the stimulus efforts of 2008-2009 and the “quantitative easing” we’ve seen in recent years.
Now that is old news that is relevant to the coming storm for today, tomorrow, and days to come.
With emphasis on the point….”The ONLY way out is…..
…and, the problem has deepened”.
In a related article about the high risk, associated with what is supposed to be a low risk market….corporate bonds, the FCA warns…alert! alert! in very extreme market conditions fund managers could become unable to sell sufficient quantities of bond holdings to fulfill redemption orders, leaving investors unable to sell fund units. In other words…screwed!
What might trigger a bond shock?
* A sudden about turn on interest rates by central banks, in the US in particular, which suggests they will be heading up soon
* Loud warnings by central banks about risks in the bond markets
* A bank collapse in Europe or the US rippling around the globe
* An inflation shock, such as oil prices spiralling due to an escalation in a Ukraine or Middle East war
* A collapse in the Chinese banking system
* An unexpected rise in corporate bond yields in Japan.
I see a bad (bond) a rising. There has been much talk of the bond market being the catalyst that implodes the whole economy, and sends unemployment soaring.
I think many questions will be answered by the end of the last blood moon, in Sept.
I tend to be in your court.
America has the natural resources
and people to survive, prosper, and
protect itself without the
rest of the world and their
Our biggest problem
here is internal. They are
Democrats and GOPe.
I’d like to see a market
adjustment and I don’t directly
own any stock.
There too many people
gambling and not investing.
Remember the “house” always
I need to get some organic popcorn to
go with my beer, as I watch it all
I would like to thank you for your service to the nation. THANK YOU and YOUR BROTHER.
There has been one thing that I have learned in my pass 60 plus years, Never say Never.
Do I want anything terrible to happen to this country HE*& NO!!! I have four grandkids and 2 acquired grandkids (long story). All I want is them is to have a better life than mine or their parents and To live free and enjoy a good life filled with nothing but happiness.
In my life I have seen a man walk on the moon, an aircraft go fast than the speed of sound, heart transplants, the cure for polio and other illness cured, I have seen equal right for all men in this country, the good list could go on for a lot longer . Now the bad things I have seen. a president assassinated and two attempted assassinations of a president, I have seen us at the brink of a nuclear war, I have seen planes fly into the two largest buildings In New York, I have gone through two stock market crashes, a job lose and so on.
I think you got my point by now.
So please don’t say it can’t happen, because it could; that is why I’m a prepper and I preach preparedness to anyone that will listen.
Once again thank you and your brother for your service
Anything and everything can and may happen NR,,
You can bet your bippy anything can and will happen.
What that saying: expect the unexpected.
After further review. You and your brother will end up fighting on the other side.
Me and my brother are both ex-Army Rangers so trust me a lot of guys who think they are warriors aren’t. They’ve had it wrong for years, we’ve see they cannot properly assess situations nor learn from mistakes.
Whether you both been Rangers for some length of time or a short time. Reguardless, welcome to the club of losers for whatever time was expended I didn’t see anyone do much of anything. Unless they were properly assessing the situation and trying hard, not to make the same mistakes.
I fight for me and mine-how is that the other side? Your “further review” is absurdly wrong. By the number of words you invested, and by what you said to reply to my post, I could see you took it personally. Why would you do that? It was not addressed to you. Anyway, your reply lacked even the thinnest objectivity and right thinking? I will help you here; you make it too easy for someone to put you on the defensive, even inadvertently, when you do all you accomplish is making their point for them, and give yourself away. In a situation remove any feelings and assumptions and the unnecessary to arrive to a more accurate conclusion. Peace to you.
Psychos R us!
I used to have goals to become something great,
Now im just trying to get so far over to the edge that nobody notices me. Call me a psycho but im tired of this crap thats been going on. I want no part of any of this and ill be damned if i get stuck with the tab. So yea, i guess im a psycho because i want these people to reap the benefits of what they have sown!
Try as they might they couldn’t keep the DOW in the black. They propped it up until the last hour thinking they were in the clear then it nosedived to -205 before they could do anything about it.
I don’t want shtf, but s gotta htf. I hope it happens mid January for real. That’ll take care if shitcago and the north east. It’ll be so cold, and it’s due to be a bad, bad winter. Then if we get lucky and the big one hits the San andreas, we’ll be rid of a lot of libs.
I love the way you think!
You are an idealist in every way, shape, and form.
I heard from a broker that many good companies (i.e. the companies have good basics) are being devalued on paper. Is it just the big investors trying to push the market down? (I can just see the hype-mongers: “My prophet said there’d be a crash in September. Why is the market still strong?” “We’ll short sell everything!” “I’m out of positions to short…” “Buy some short sales, re-hedge, and short sell again!” “Woohoo! Market is falling! Market is falling!”)
Thank god I got out when did. Found a quiet isolated town right on the southern edge of the boreal no private land here. 150 yards and I’m inside the tree line (good luck getting me out then) basement is stocked food water weapons ammo tradeables. My fear is this will be death of a thousand cuts. Anyone of us could have enough sence to pick up and run whenever see tanks rolling down our streets. But who among us can sustain 5-7 years of steady higher taxes just one more oppressive law more and more unemployment etc … my fear is its coming so slowly we can’t see the forest growing up around us.
when indeed there are open fighting in the streets. Then well know but till then don’t you all feel a little more strangled everyday? ????
Boreal forest in Canada?
Yes,I do John,so go out shoot me bow/crossbow/perhaps some reloading at buddies/study other recipes for future,and,I’ll be damned,feel as if I can breathe again clearly!
If your into archery you should check out my local Boyer Joe’s traditional Igot mine there custom made recurve 65 lbs at 31″ very powerful all a life time gaurentee no bullshit this guy is straight up check out his website and give him a call
I loke the recurves but guess im turning into a wuss in my old age! like my compound with 70 or 80% let off,,,
Makes 65 feel a loooot lighter, was folling around with my friends Hoyt Dorado 55 and couldnt feel my arm the next day!
Markets are opening in Asia and Australia, and the open ones I’ve checked are down.
The Nikkei 225 is down about 40 points, but is bouncing up and down a lot. Australia was down a lot but has recovered some.
Shanghai was down yesterday. It opens in less than an hour at 9:30 PM (EST), 9:30 AM their time.
Ok today Dow up over 350+, but closed at -204 so to me that is another 500pt. loss is it not.
Just where are the reports of all the SH-T that was to happen during Jade Helm Hmmmm?
Let us just wait and see what going to happen in two days. Thursday and Friday might just be the days that tell us what is to come.
And another 2-3 after that then after that maybe you’ll give it just another few. Feel that forest choking you yet?
Just trying to keep a positive attitude about it.
At tis time I’m more worried about Korea, Iran, and Ukraine than the markets.
The fact that they will stop trading if the market starts to collapse is the proof the game is rigged. It’s bullshit I hope everyday the economy collapses. I hoard $ and live minimally. I hate corporations and want them to fail they deserve it. I’m willing to give up $ and live by the sweat of my brow. The people that don’t want there way of life to change because they live the drive thru life and call businesses to come and cut there lawn and deliver milk in glass bottles are the ones that gonna hurt. I can’t wait till they reap what they have sown. I work all day and I’m conditioned to hard work. It will be life as usual for me. I want lazy people to have to work to eat it’s really the way it should be. Working people have been used as a stepping stone by the rich for too long I would love to see trump digging in the dirt. Then I would vote for him. Not just because he tells me what I want to hear.
I got milk in a glass bottle,,
Oh wait, its powdered milk in a big Ball jar.
I just spit tea all over my screen, Thanks ROTFL>>>>
I got a bad feeling in my bones about September.
Amerika- we deal in baby body parts…
Amerika -marriage can be between a man and a man…
Amerika – Sharia Law coming soon to a town near you…
Amerika – U.S. Sovereignty is being surrendered as we speak…
Amerika – the 2nd amendment is the only reason we can talk like this online…
Amerika – it will be the vets, the county sheriffs, fireman, EMTS, active duty members, the farmers, the ranchers, the shoe salesman, the guy who cuts your grass and the men and women of this country who still hold to the greatness of our country that may ultimately get the spelling corrected…
Well, here in the town where I’m working, the SHTF about an hour ago and many don’t care. The city sent out a boil water Lert about 15 minutes after my aunt got a phone call. Once she got off the phone she announced the main pumping station went down in the city and all water pressure was gone..(she runs a big supply house for pipes and fittings, etc.) Hospital for elderly and psych patients has no water, main campus possibly in trouble (maybe they get their water from county, not sure, they are just outside of town). My aunt keeps a few jugs of water, but had nephew start filling ice chests w water. I ran to dollar store and got half of what little water they had. 10 sheeple in line. I told them water out and no water pressure. They just stared at me. I repeated if you need water get it, the hospital has no water, town no water. They just turned around and checked out with sodas, candy and junk. Me….I came home with a trunk full of cases of water. Dumb sheep.
See that here,
Had a hurricaine headed straight for us last year and people were buying steaks and booze at costco,
If we had gotten hit everything would be out and down, 1982 hada storm here that knocked out water in parts of the island for more than a month,
Were in hurricaine season now and lots of storms, yet most peoples idea of prepared for a storm is extra chips and an extra case of beer!
Have one in the Atlantic. About 7 days out. This one might get Florida.
It might hit here in eastern NC after that.
Our local Save A Lot store has cases of bottled water for $2.29, which is over a dollar cheaper than the other stores. I’m getting more tomorrow.
Carolinas are beautiful area,,
Hopefully these storms leave all you folks on the eastern shores alone!
2008 was a reality check for every adult in America. Blue collar and white collar. Just the simple fact that a gallon of gas is half the price of a gallon of milk. How does that make any sense at all. Most people dont even think like us…as long as they can watch the new episode of Housewives or Kardashians
Devaluation Stunner: China Has Dumped $100 Billion In Treasurys In The Past Two Weeks
The great fall of China!
Think my employer is going under place is so mismanaged and resources wasted energy wasted failing equipment at the end of its life. No$ invested back in to the company high comp and claim rates. No$ coming in. I’ve seen this recipe so many times. It’s the signs of a failing organization. Glad I always had my own agenda. Will take my skills somewhere else. I’m not worried about getting employed. I have skills that are in demand. On to the next failing company. I overheard my boss telling the mechanic he just needed to get through the next 2 weeks. What does that tell you. If this is the case I’m taking off the winter and gonna move out of state selling my house and taking my$ somewhere else warmer tired of shoveling snow.
Markets go up, they go down, it’s all fixed like a game of poker so that bankers can rip you all off.
Moving from going for the reds to the blacks won’t save you but not playing the game might help.
China stock market is still a lot higher than it was two years ago but none of these markets are connected to main street.
Det. Thorn: I know, Sol, you’ve told me a hundred times before. People were better, the world was better…
Sol: Ah, people were always lousy… But there was a world, once.
Sol: I was there, I can prove it! When I was a kid, you could buy meat anywhere! Eggs they had, real butter! Not this… crap!
Today’s History Lesson
A Note On Dead Cats Bouncing: Six Of Ten Largest One-Day Stock Gains Occurred During The 2008-09 Meltdown
“Six of the ten largest point gains in the history of the stock market occurred between September 2008 and March 2009. That’s right.
During one of the greatest market collapses in history, the market soared by 5% to 11% in one day, six times.”
DOW Futures Plus 327
See if it can stay in the positive.
Watching the talking heads on tv, one talked about puking in the trash can another mentioned everyone’s hair being on fire during the 1000 point drop. Funny stuff!!!!!! Hold yor nose and buy!……Fearless……
FInancial Meltdown, my A$$, these people on the side lines are paying you way too much to keep putting out the same crap every other month.
A tough winter hammered chunks of the economy in the first quarter, and gross domestic product rose at a measly annual rate of 0.