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 ...
It depends on your age.
If you are young, sure, riding it out makes sense.
If you are old, well you should have been out of the market years ago because you will not live long enough to recover what you lost.
As part of my retirement planning I got out of the market ten years ago. While it is true I have not made much over the years, but then I have not lost it all either (except for inflation)
We are living in some strange times and I don’t think anyone really knows what is going on. There are some powerful forces playing games with the average person. Who ever comes out ahead in all this perhaps should be looked at more closely.
things are stabilized WED in Asia markets.
Even Kramer tonite was going on and on about how China is way overvalued. Gotta agree.
the Emerging Markets are not emerging. Yet, here is Latin American Large Caps with a P.E. of only 13.
http://finance.yahoo.com/q?s=ILF
Mexico PE is 19
http://finance.yahoo.com/q?s=eww&ql=1
those PEs are as of July 31. Need to re-figure.
yet, here is a China ETF with a PE of only 10. Cannot trust the financials ...
http://finance.yahoo.com/q?s=GXC&ql=0
Shanghai (China) is only down 2% as of 11:08pm EDT
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