This article was originally published by Michael Snyder at The Economic Collapse
If you don’t believe in “coincidences”, what are we supposed to make of this? On Wednesday, the 3rd most powerful hurricane to ever hit the United States made landfall in the Florida panhandle. Entire communities were absolutely shredded as Hurricane Michael came ashore with sustained winds of 155 miles per hour. You can find the entire article that I just posted about this massive storm right here. In this article, I am going to focus on what just happened on Wall Street. At the exact same time that Hurricane Michael was causing chaos in the Southeast, an October stock market crash was causing havoc in the Northeast. The Dow Jones Industrial Average was down 831 points, which was the 3rd largest single day point crash in stock market history. Of course it isn’t as if we hadn’t been repeatedly warned that this was coming, and the truth is that it looks like this is only the start of the financial shaking.
In fact, international financial markets are in a state of chaos as I write this article. Asian markets are a sea of red, and at this moment Dow futures are way down.
So it appears likely that Wednesday’s nightmare may extend into Thursday as well.
But before we look ahead too much, let’s talk about the utter carnage that we just witnessed.
According to Bloomberg, the 500 wealthiest people in the world lost 99 billion dollars on Wednesday…
Plunging global markets lopped $99 billion from the fortunes of the world’s 500 wealthiest people on Wednesday, the year’s second-steepest one-day drop for the Bloomberg Billionaires Index.
Amazon.com Inc. founder Jeff Bezos lost $9.1 billion, the most of anyone on the index, as shares of the online retailer fell the most in more than two years. The plunge lowered Bezos’s net worth to $145.2 billion, its lowest since July.
Can you imagine losing that much money on a single day?
The Dow Jones Industrial Average has now fallen for four out of the last five trading sessions, and for the month as a whole all three of the major indexes are way down…
Stocks have fallen sharply this month. For October, the S&P 500 and the Dow are down more than 4.4 percent and 3.3 percent, respectively. The Nasdaq, meanwhile, has lost more than 7.5 percent.
Tech stocks are being hit particularly hard. In fact, tech stocks just had their worst day in more than seven years…
Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers.
The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell.
At this point, 330 out of the 505 stocks that make up the S&P 500 are already more than 10 percent below their 52-week highs.
That means that about two-thirds of all S&P 500 stocks are officially in correction territory.
And 140 of those stocks are already down more than 20 percent from their 52-week highs, and that means that they are officially in bear market territory.
So why is this happening?
Many of the “experts” are pointing to the dramatic rise in interest rates…
Nervousness had been building for days on Wall Street. The catalyst was the recent spike in the yield on a closely watched government bond to a seven-year high.
The 10-year Treasury note — whose key rate impacts the pricing on things ranging from fixed-rate mortgages to stocks to virtually every financial asset on the planet — recently climbed above 3.25 percent for the first time since May 2011. And when you add the threat of higher borrowing costs on things like houses and cars and corporate debt to the economic obstacles caused by the U.S. trade war with China, all it takes is a whiff of weakness to set a major sell-off in motion.
A week ago, I warned my readers that rapidly rising rates could spark a market sell-off, and now it is happening with a ferocity that is absolutely breathtaking.
Needless to say, President Trump was not thrilled by the market crash on Wednesday, and he is pointing the blame at the Federal Reserve…
President Donald Trump slammed the Federal Reserve as “going loco” for its interest-rate increases this year in comments hours after the worst U.S. stock market sell-off since February.
Trump said in a telephone interview on Fox News late Wednesday night the market plunge wasn’t because of his trade conflict with China: “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous.”
“That’s not the problem,” he said of the trade standoff. “The problem in my opinion is the fed,” he added. “The fed is going loco.”
I love it.
I absolutely love it.
Could it be possible that we will soon see supporters chant “end the Fed” at Trump rallies?
No president has ever openly criticized the Federal Reserve like this, and I greatly applaud Trump for doing so.
And he is precisely correct – the Federal Reserve is the problem.
Nobody has more power over the performance of the U.S. economy than the Federal Reserve does, and the only way that our long-term economic and financial problems will ever be fixed is if the Federal Reserve is shut down.
So I hope that President Trump’s feud with the Federal Reserve gets as heated as possible. I hope that the Federal Reserve becomes a central issue during the 2020 presidential election, and I hope that every Trump supporter in the entire country will urge Trump to make a promise to shut down the Federal Reserve.
The Federal Reserve is a deeply insidious system that has turned America into a nation of debt slaves, and it is definitely time to end that sick and twisted debt-based system and return this nation to a solid financial foundation.
***
About the author: Michael Snyder is a nationally syndicated writer, media personality and political activist. He is publisher of The Most Important News and the author of four books including The Beginning Of The End and Living A Life That Really Matters.
The Last Days Warrior Summit is the premier online event of 2018 for Christians, Conservatives and Patriots. It is a premium-members only international event that will empower and equip you with the knowledge and tools that you need as global events begin to escalate dramatically. The speaker list includes Michael Snyder, Mike Adams, Dave Daubenmire, Ray Gano, Dr. Daniel Daves, Gary Kah, Justus Knight, Doug Krieger, Lyn Leahz, Laura Maxwell and many more. Full summit access will begin on October 25th, and if you would like to register for this unprecedented event you can do so right here.
Did you hear that the biggest threat off domestic terrorism was identified and it is not white supremacy, nor blacks, nor Mexicans. The biggest domestic terrorists are ju supremacist. The media is suppressing today’s biggest story. A two hundred pound bomb destined to be exploded at the Washington Mall was intercepted. The bomber is a ju who wanted to interfere in the elections and thus prevent a conservative win.
In other news, hurricane floods and destruction. But otherwise everything is fine except for financial collapse, civil war, and contaminated meat.
_
TSB lives where the hurricane hit. Hope he’s OK.
Thar She Blows …. you know, the idiot who thinks that the Yuan is backed by gold ….. thought that NW Florida was a great place to be in SHTF.
Bet he has a new opinion about that now, just saying: even a blind chicken can find some corn. Hope he survived, I enjoyed kicking his ass on a irregular basis. 🙂
Meanwhile, at the moment, once again President Trump is entertaining his bro friend Kanye West, in the Oval Office. Kanye is having a meltdown over racism. I don’t like how he supports interracial marriage and even worse associates with these people. It says a lot about his character.
“You can judge a man by the company he keeps.”
Thought you’d like to know.
https://postimg.cc/WtKQMxZs
And there are a lot of people buying it.
What is a ju?
That would be someone who lives in Jurusalem. 🙂
Figure it out.
In the 1970’s, lowering the discount rate and deficit spending by the Government were supposed to stimulate the economy. If the rate had been what it is today and the deficit spending is what it is today, you would have had massive inflation. This is like having the gas pedal to the floor and you’re still only doing fifteen miles per hour. Something is wrong with the car.
This is it. It’s the big one. I’m gonna drink some ripple you big dummy.
Nothing is fine, in fact it’s all *ucked up from the common peoples perspective. All indications point to war to hide the anger of citizens who continue to lose ground financially. Move all the jobs to China and now plan to wage war against them for the damage you caused. In fact war on China and Russia. More human lives dead to support capitalisms rampant greed, this go round using nukes. Giving up all of your freedoms is the US citizens domestic price. The military struggling to gain recruits, who wants to die for these US demons? Trump blaming the Fed, what a joke! Both parties are murderers, all in on war. The TV talking heads are all paid off frauds. If they are wearing a suit and a tie run for your life.
Pretty much. US has been a rotting carcass for over two decades.Any idiot could see that the “giant sucking sound” coined by Ross Perot would end in tears.
yes, it really sucks. . .
I think we can safely eliminate occult symbolism in the case of the hurricane being linked to the stock market activity but there’s no doubt in my mind that the meddlers at our central bank are still up to their old tricks. Audit the Fed then End the Fed.
How does a Category 2 (barely) hurricane go to a Category 4 in just under 12-hours? Is that even possible? Fake news? Fake Hurricanes? Fake threats? Fake stock market?
A 540 point sell off today is just barely 2-percent of the DOW. A 540-point sell off is not what it use to be. Not when you are talking about a DJIA that fell exactly 508 points to 1,738.74 (22.61%) on October 19, 1987.
There certainly is no comparison between the past 2-days and the Crash of 2007 and 2008 when the DJIA was just above 14,000 and lost more than 40-percent of its value when the crisis passed.
blame -e, it is easy to bring a hurricane from 2 to 4 by weather manipulation that has been proven by geoengineeringwatch.org.These people don’t care what they destroy or who they kill as long as they get their agenda passed.
The wealthiest in the world will gain their money back and then some. Because the devil ain’t done with them yet.
See that? Lightning does strike twice.
I saw recent data on Michael. Sorry for all those who suffered under his wrath, but this Storm isn’t anywhere near #3 biggest Hurricane. It hardly makes the top 10.
The parallel 3s were just too much of a temptation for somebody so they twisted the data to make it come up 3rd worst storm and 3rd worst point loss.
<bb
more fear porn from the press and deep state……
Jim, TharSheBlows lives in that region where Michael hit. I hope he’s OK. He had to spend months working to fully recover from the last one that hit there.
We are being attacked on all fronts: manipulation of finances [by 9 privately owned banks called the Federal Reserve]; manipulation of the weather [weather warfare by our own country and others]; manipulation by chemtrails in the atmosphere; manipulation of food genetics [GMOs]; manipulation of vaccines [hijacked vaccines]; suppressed cures by elitists and Big Pharma; and I could go on and on.
Remember Bain in the third Batman film of the trilogy when he brought down/crashed the Stock market? Art imitates life, doesn’t it? Get your preps in fullest order.
Expect shitty weather and them taking out our/your power grid when they try to invade our country from underground cities, from the Southern border, and elsewhere.
Also expect the U.N. vehicles and troops to be suddenly present who will be here to facilitate the takeover at the time when we are attacked in person, with power outages, a downed internet, a possible EMP, purposely intensified weather.
The U.N. is not your friend, or mine. They will help themselves to your belongings and to everything else, and will kill anyone in their way.
Resist with all your might any effort to round you up or “entice” you to a FEMA camp where you will be gassed or guillotined.
The globalists are pissed off at our President; pray for his protection, and for his continued enlightenment.
Keep praying. Prayer led to Hillary’s defeat, and much more. Stay faithful by obeying the Ten Commandments.
If you think like the enemy, and then some, and you will be more than prepared. Consider all this darkness as planned ‘warm-ups’ for their evil event.
Forewarned, forearmed! If our nation repents of its evils, like abortion, then God will once again protect our Judeo-Christian country like He protected the Israelites when they discarded idolatry and obeyed God’s universal laws, the Ten Commandments.
If GOD is for us, WHO can be AGAINST us? But PLEASE note that God CAN’T act without our permission through obedience to and compliance with the Ten Commandments. That is key.
God bless you all.
– the Lone Ranger
“Act as if everything depends on you, pray as if everything depends on God.” St. Augustine
Did the US or Europe slash their annual budgets by even a single penny? — NEVER!!
The stock markets will again set new highs, they must as all newly created currency goes through the major stock exchanges one way or another.
During the last big drop earlier this year, I posted this same message… “expect new highs,” and of course I was right… the world will continue to create more debt because it must!
Jan 19 or Apr 19 see new stock market highs.
Rather than speak about the hurricane that wiped out entire towns and offer the victims some empathy and reassurance of rebuilding plans, the president is holding a rally and then holds a meeting in the oval office with Kanye West & Friends basically talking about nothing. Reminds me of “Nero fiddled while Rome burned.”
After one of these hurricanes goes through all these greedy capitalists can see is an opportunity to make money on the rebuild. Not with their money but the American taxpayer’s money. And our feckless worthless piece of crap government let’s them.
Then the next hurricane goes through the same area and its off to the races of runaway greed and avarice again. And again. And again.
Meanwhile, the population in these areas only increases because greed attracts flies and “What the heck?” they got nothing to lose and everything to gain. Even the government has nothing to lose. It’s not their money.
When does this sh*t stop?
Agreed.
re The 3rd Largest Point Crash In Stock Market History On The Same Day That The 3rd Most Powerful Hurricane…
and – believe it or not – the same day I took my 3rd Largest Ever dump… I feel anout 25 lbs lighter…