Posted on 08/24/2015 5:50:43 PM PDT by SkyPilot
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…
Asian Markets
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%...
(Excerpt) Read more at theeconomiccollapseblog.com ...
funny when the dow was 1000 a 500 drop was alot. in percentage. at 16000 -500 is crap. It was a mear -4% drop. if you have ever owned a stock that is just inter-day trading. the IPOs keep a stock price around 15-30 when the dow is at 16000. that is a penny stock. the crash, i think went from 2600 to 1900 i think. 500 points was a big percentage baby that’s a drop. when we get a drop of 5000 let me know. then sell out of the money puts and chomp your box of tums.
i just looked at the three trading sites i buy junk silver from and all three are mostly out
But don’t forget it is illegal to structure your withdrawals, since Uncle Sugar will confiscate your accounts when doing this.
I am not so sure about that this time Sam. An economic Perfect Storm has been created by the Central Bank manipulation, the creation of imaginary money out of thin air (QE), hundreds of Trillions in unfunded liabilities in the US alone, debt on a Biblical scale, and years of government lying about the real data and our economic situation.
Happy talk might have stemmed the tide, but this slow motion crash is global. Everyone hid under the skirts of China for awhile, but now that glass house is broken.
I think the old rules of "buy and hold" may not apply anymore. Normalcy bias seems to rule the "experts."
That's part of the problem. Those folks with IRAs and 401Ks have come to believe it is an account that they can rely on.
Did you see this article from today?
Millennials Don’t Trust Stock Market, Goldman Sachs Poll Shows
Us Boomers need the Millenials to put their fewer and fewer available dollars into the markets in the near term. If they don't, the market will react as a ponzi scheme.
That could happen between now and October.....
Or, stocks could rally. They will probably go up this week, as the article said. But the long term vital signs don't look good, and the patient seems very sick indeed.
And if they want to nail you for "structuring", they will. The law wasin fact written so that they could nail you if they felt like it.
The banks now file Suspicious Activity Reports (SARs) on a routine basis, because Obama's "Just Us" Dept went after banks for not nailing and harrassing enough people.
And it gets even worse.....
Law Lets I.R.S. Seize Accounts on Suspicion, No Crime Required
Yes, physical metals will get even harder and harder to come by.
I am waiting for all of those who hold paper that says they "own gold" to realize there isn't any.
I think what could happen in a very bad and deep crash are: riots (EBTs cut off), panic, empty grocery shelves in some areas, and possible loss of essential services in some way (power, etc).
Even localized, these crisises will get international media attention, and that can make the problem worsen or incite the panic even more.
I would have some food and water on hand anyway even if there were not some very deep concerns about the global economy. It is a wise thing to do.
The 1000 point intraday drop is the largest EVAR!!!
Show me a single time it hasn’t recovered.
In 29 — you were dead before it recovered.
Millenials are also idiots. Whatever they do, do the opposite.
Points wise but on 10/19/1987 it dropped 22.61%. This was nowhere close.
100%
No, it wasn't, you moron.
Well, that's a pretty generalized statement of every American born between 1977 and 2000. But you are entitled to your opinion of course.
I started in 85 too.
Panicked in 08, paid off what seemed like bad insurmountable debts but really, really, should have stayed and if I had stayed in it till today... I would still stay.
That’s all the detail I care to share.
People need to stay in. Panic will destroy you.
A 588 point drop today....
And.....
If you factor in last week, and today, then in less than 80 hours of trading the market is self destructing.
When Obama is not busy being an imbecile, he lies. Constantly.
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