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This almost seems like a constant siren, but I can see it happening.
“The funny thing is that even though all of the signs are pointing to a nightmarish global financial crisis, the mainstream media continues to insist that everything is going to be just fine.”
“What has been happening on Wall Street the past few days has been nothing short of stunning. On Thursday, the Dow Jones Industrial Average plummeted 358 points. It was the largest single day decline in a year and a half, and investors are starting to panic. Overall, the Dow is now down more than 1300 points from the peak of the market. Just yesterday, I wrote about all of the experts that are warning about a stock market crash in 2015, and after today I am sure that a lot more people will start jumping on the bandwagon. In particular, tech stocks are getting absolutely hammered lately. The Nasdaq has fallen close to 3.5% over the past two days alone, and it has dropped below its 200-day moving average. The Russell 2000 (a small-cap stock market index) is also now trading below its 200-day moving average. What all of this means is that the stock market crash of 2015 has already begun. The only question left to answer at this point is how bad it will ultimately turn out to be.”
I have a bad feeling about this slide. It always seems like after a losing day the stock market gets a shot in the arm overnight bouncing back the next morning and at least maintains an average level. We have seen slides before but it seems to be a train that is gaining steam. We faltered a little each time Greece had a bobble. Then comes China followed by another bobble from Greece. I am afraid we are watching the beginnings of a runaway train. Time will tell.
Well today Dow went down 530 or more then 3% of the value. It is not looking good. I think Sept will be a big crash for the Dow.
Unless it’s just another ploy by Goldman it’s quite possible the world has hit a tipping point. maybe the Dow won’t go all the way down to 5000 but 12000 seems likely sometime in sept or oct. A lot of retired folks are going to be hurting this winter.
Rupert Murdoch Tweets: ‘Timely Correction or Major Global Crisis?’ I am seeing more and more billionaires writing about a collapse coming.
I spent yesterday afternoon/evening and then today volunteering at a major fundraiser for a non-profit I am associated with, and it was surreal when contrasted against what is happening on Wall St. I ran the registration table where pre-registered people check in and walk-in registrants sign up, with me personally handling all of the walk-in registrations and the handling of any registration related issues that came up otherwise. People were paying $160 to ride their bikes on public roads going on pre-planned routes using cue sheets we provide them. We do provide a nice breakfast, lunch and snacks on the route and certain other support, and a dinner afterwards in a sort of festive environment, but most of the price is profit given it is a fund raiser. Not a single person balked at the price. Many travel long distances to do the rides, adding airfare, hotel, and other costs. I repeat, not a single person balked at the price, and both ridership and the price was up versus last year. If the economy tanks, there are a whole lot of people who will not have seen it coming.
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