August 20, 2015 at 4:38 pm #43230
First was China’s market and now we know that we are at a negative for the year. Signs are everywhere of what is coming are way. I just do not know how bad it will be but I know it will be much worse then 2008.
Wall Street Selloff: S&P Joins Dow in Negative Territory for ’15August 20, 2015 at 8:42 pm #43234
Well the Dow went down 358 points 2.06% of the value. Not a good day. Is it the slow beginning of the economy collapsing?August 20, 2015 at 8:55 pm #43235
Tropical storm coming our way Freedom but it could turn into a hurricane. Oil prices are collapsing. Government can’t gouge any more taxes out of energy or get the global tax on carbon. They are screwed, it is a deep dip in the economy.August 20, 2015 at 9:09 pm #43236
Well the Dow went down 358 points 2.06% of the value. Not a good day. Is it the slow beginning of the economy collapsing?
WW3a sounds about right. China hacks everything and treasonous she-wolf Hillary cracks her way thru the high security protocols. She should have been arrested. Democrats are defending her. CW2 Left vs. Right.August 20, 2015 at 10:06 pm #43242
It shouldn’t surprise anyone that the stock market is now down on a YTD basis. What has improved in the economy to warrant the market rising? The manner in which the affluent insulate themselves from the realities of a shrinking middle class and a growing underclass makes it easy for them to think things are going great, especially when the Feds will make up whatever statistic is needed to support that delusion. The reality however is that a shrinking middle class and a growing underclass have already exhausted whatever reserves that had and are now spending less. Businesses can play games manipulating the value of their stock but it is much harder to make believe you have revenue and profits that you don’t have. Sooner or later reality sets in and that is what is happening on Wall St.August 20, 2015 at 10:40 pm #43246
Agree MB, The smaller the middle class the less profits there will be for all businesses.August 21, 2015 at 10:32 am #43255
As the underclass begins to vent their frustration they are getting a more sympathetic ear from the middle class who have seen their friends and families suffer from job loss, reduced wages and benefits. Working part-time at Burger King when you have a family to feed doesn’t cut it. Then reading the news that some elite bought a $25 million dollar apartment really starts to burn. When the frustration turns to anger then the elites will have something to worry about. The more astute middle and underclass will take their anger to the streets of the commercial districts and the exclusive suburbs, not burn down their own neighborhoods.
The downturn of the stock market is just the beginning of a long slide. As someone said earlier, you can only fudge the numbers so much. I suspect the Chinese are experiencing that lesson first hand.August 21, 2015 at 1:54 pm #43257
Roadracer, I think that even the billionaires have a problem with what is happening to the middle class. It works like dominoes, when you tip over the first one all will come down even the billionaires.
The middle class makes business men and women into millionaires and those millionaires are the ones that but the $1 to $5 million dollar apartments, $50 to $100,000 cars that makes the billionaires.
So Donald Trump, Ben Carson, and Carly Fiorina know how important the middle class is( they have owned a business or run one) but someone like Hillary or Obama which have never owned and run a business does not. The Hillary and Obama live off the peoples money, they love more government, and more taxes.August 21, 2015 at 4:48 pm #43262
Broken record alert: I’ve said it before and I’m saying it again! Late September or early October an acceleration of this collapse will begin that will not be possible to ignore. It seems that it is already beginning, I figured it wouldn’t be until early September that we saw what we’re seeing now.
Wanting to preserve credibility in the face of the inevitable, even some of the paid liars we call ‘mainstream’ economists and media pundits are finally beginning to report that a ‘recession’ is around the corner.
Buckle up, ladies and gentlemen, it’s going to get bumpy. After that? A long grind that is made longer by constant goobermint intervention.August 21, 2015 at 4:54 pm #43263
Yes Sir WhiteKnight. Look at the news today,
China Stocks Have Worst Week Since June as Hope for Govt Rescue Slumps
An as of now the Dow is down again -86 we will see what it will be at the end of the day.August 21, 2015 at 6:16 pm #43264
I’m expecting that on Monday, all markets will head upwards a bit. This won’t go into a straight out drop until late September, I’m betting, if at all.
Hard to say what will happen next, but to me it is clear debt crisis has begun to unfold. Much like 2008. But this time, the FED and central banks around the globe don’t have much ammo left. Prognosis? Things will get somewhat ugly, followed by a brief period where interventions seem to be working, and then, finally, things will get out of control.
Situation specific prep recommendations – other than the standards of beans, bullets, etc we speak often about here – If you paid close attention to what happened to the average Greek, it will be similar everywhere. Cash will be king for an undetermined period of time. PM’s come in later. Keep a good chunk of it at home, physical cash. How much is discretionary but I personally won’t leave much in my bank at all; because chances are it’s going to be frozen or even confiscated in a ‘bail-in.’ Anything you have in stocks (equities) or is based upon equities (such as hedge funds and many retirement accounts), get it out soon if possible.
If this turns out to be a false alarm? No big deal, just put your money back in your bank and buy your stocks again.August 21, 2015 at 8:59 pm #43265
Dow down 530!!!! What is next? We will see what Monday brings.August 21, 2015 at 9:34 pm #43266
We will see what the weekend brings with the koreas. Thats pretty scary. Besides which it could cost the US billions under mutual assured defense, which we dont have.August 24, 2015 at 6:49 pm #43333
Before hours trading this morning (Monday, 8/24) the DOW was down over 1,000 points! !@*^#$! That really gives away the lack of confidence here, and the savvy community is saying that the uber rapid 1,000 point recovery after the opening bell was the FED’s PPT (Plunge Protection Team).
In other words, the crash had begun, and they held it off just one more day…. how many more can they pull off?August 24, 2015 at 7:34 pm #43335
I noticed that too WhiteKnight. We will see what the next few days holds. I suspect if we have a few more hard plunges they will not be able to stop it. A lot of people throw money in on short sales and the gamble that there will be a recovery. That may have been what helped slow the plummet. The bad thing about that is the slightest hint of a lack of confidence and they all bail thus creating another drop. Crossing my fingers and loading mags.
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