U.S. Stock Market Correction Not Made In China

What a week for global stock markets, but in particular, the U.S. stock market, which had its worst week in 4 years The Dow Jones down better than 1,000 points – over 10% from its peak puts it in official correction territory One-third of the stocks in the S&P 500 are already down 20% from their highs The Dow lost more than half of the 1,000 points today – 530 points, which is the 9th biggest point decline ever This is on top of the 350 points dropped on Thursday Thursday we broke below some key technical levels so Friday’s drop was inevitable...

The market was plainly supported by big hands and over valued. It was government money keeping it afloat. Once China became an albatross, the Wall Street crowd started distributing its shares to Joe Sixpack, and now that has accelerated. No doubt Wall Street has its CNBC and Fox News stooges telling people now is time to scoop up “cheap” shares so they can continue distribution.

What about that “non-hack” of the NYSE about 2 months ago? Could it have been a dry run for a “fire sale” attack? Will be interesting to see the massive Shorting lists of tech stocks.

Schiff might or might not be correct. Either hypothesis is from the same root cause: artificial stimulation that has weakened an already bad economy, but has staved off total collapse (temporarily.) People are not seeing the big picture, though. If the intentional devaluation of the Yuan is to bring the American economy down and replace the dollar as the world currency (as many have suggested), then tomorrow, they will not scale back their devaluation, but they will attack further with a vengeance. If that is correct, they will drop a nuclear economic bomb on the rest of the world tomorrow and will continue the attack until they meet their goals..Every ‘pundit’ is trying to analyze the market war by conventional experience, and it really does not apply. You will hear the usual “best time to buy’, or ‘every bull market has its blips’, or, as Andrew Mellon, Secretary of the Treasury said in Sept. 1929 - “There is no cause to worry. The high tide of prosperity will continue.”

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