Tracking the next pandemic: Avian Flu Talk |
Financial Collapse |
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Medclinician
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Posted: September 14 2015 at 9:29am |
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http://www.bloomberg.com/quote/SHCOMP:IND
China - this is bad. down 3,114.798
85.436
2.67%
As of 03:29:34 ET on 09/14/2015. Medclinician |
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"not if but when" the original Medclinician
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Dutch Josh
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http://www.zerohedge.com/news/2015-08-28/we-are-all-preppers-now
Damian McBride is the former head of communications at the British treasury and former special adviser to Gordon Brown, erstwhile Prime Minister of the U.K. Yesterday he tweeted some surprising advice in response to the plunge in global equities markets.;
Evidently, McBride interprets the wipe-out of over $3 trillion in total global market cap during the three-day rout as a prelude to a much broader and deeper financial crash that will precipitate civil unrest. |
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We cannot solve our problems with the same thinking we used when we created them.
~Albert Einstein |
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Albert
Admin Joined: April 24 2006 Status: Offline Points: 47746 |
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Fridays are usually not good and are known for big selloff days. We've had a downward trend and those gains over the last two days may be wiped out pretty fast. China closed down yesterday after their positive one-day-wonder, and markets are set to open in the red the morning.
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Satori
Valued Member Joined: June 03 2013 Status: Offline Points: 28655 |
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JPM Head Quant Warns Second Market Crash May Be Imminent: Violent Selling Could Return On Thursday |
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Technophobe
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As with all types of bets, its usually only the bookies that win, Boss. Your guesses have been better than most. You sure outguessed most Chinese punters.
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How do you tell if a politician is lying?
His lips or pen are moving. |
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Albert
Admin Joined: April 24 2006 Status: Offline Points: 47746 |
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+500 today. Big day. Gosh, I was only off by 800 pts.
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Albert
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We've been +300 all morning, but I'm guess will finish around -290. Somewhere in the range of -250 to -300
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Satori
Valued Member Joined: June 03 2013 Status: Offline Points: 28655 |
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watch out for those dead cats A Note On Dead Cats Bouncing: Six Of Ten Largest One-Day Stock Gains Occurred During The 2008-09 Meltdown |
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Albert
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I heard the same thing as you just said a couple times yesterday with regard to the Feds, and no trust. I still think communist China has the world beat by a long shot. The deeper your lack of trust, the worse your economy is reacting these days. The downward trends per country could almost be a trust-barometer for a country. China has tried everything at this point, and they're still down -324 for this session at this moment. The European markets were doing really well a few hours ago, now they're all in the red as well.
Anyway, the collapse may very well be underway. We're breaking all sorts of bad records right now. I think people are just waiting to exit the market right now and will take any gain. Unfortunately that time may not come. Dow, S&P close lower in biggest reversal since Oct. 08 U.S. stocks closed lower, after a failed attempt to rally
from the Dow's worst 3-day point decline in history, as investor
confidence waned amid continued concerns about China and global growth. The Dow Jones industrial average and the S&P 500 closed about 1.3 percent lower after rallying nearly 3 percent earlier, their biggest reversal to the downside since Oct. 29, 2008. The S&P 500 remained in correction territory after falling there on Monday. The index also posted its first six-day losing streak since July 2012. In the last week-and-a-half, the S&P 500 lost
nearly $2 trillion in market capitalization, with $900 billion in this
week's two trading sessions alone. "That crash (Monday) was so big and so long since we had one (investors) don't want a repeat of 2008 so they bail out," said Lance Roberts, general partner at STA Wealth Management. Programming note: Tune in to CNBC at 7 p.m., ET, for live news coverage of the markets turmoil. The Dow fell 205 points and S&P 500 closed below 1,900 after falling into negative territory in the last half hour of trade. The Nasdaq Composite failed to hold slight gains and closed 0.44 percent lower. The Dow traveled another 1,600 points during Tuesday's trading session, adding to the 4,900 points the index traveled in down and up moves on Monday. http://www.cnbc.com/2015/08/25/us-markets-attempt-recovery.html |
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Satori
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Albert you could take out the word "China" in your post and substitute the "United States" people have no faith in government they are beginning to realize just how VERY corrupt it all is quite frankly if I hear ANYTHING from a "government" source I regard it as a LIE until verified by other more reliable sources |
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Albert
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Was the first time in history the market ever had two days in a row of -500 or more. First time ever. Pretty bad sign. You would have thought a bounce back today, but down again another -200. Today's bad finish is going to start more unease.
The problem with China is that no matter what their gov't (state) does, the people will never trust them. Years of deceit and lies are coming back to haunt them. The people have no faith in their gov't and don't trust them whatsoever. They're doomed no matter what they do now. It's hard for China to manipulate the stocks when nobody trusts them. If china gives a stimulus or reduces interest rates, and says this will fix it, the selloff gets worse. No trust. Bad stuff.. |
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Satori
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a co-worker and I were discussing the stock market last week I urged her to move her money into safer investments she was going to do it this week but for some reason went ahead and did it last week to say she dodged a bullet is to put it lightly she is one happy camper the crash of the market in Sept/Oct is not news to me I have been expecting it for quite some time the REAL news is out there you just have to look for it the crash of 2008 was predicted for at least 2-3 years before it happened I moved my money then also the sites I follow on the WEB predicted that crash down to the exact time period just like they have predicted this one the worst is yet to come this dip so far is just a shot across the bow the market may well recover,for a brief period before it crashes BIG TIME |
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Albert
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Good point Med. Also, all of the talk has been the collapse is coming in October. That hype was probably started by the heavy hitters to get people thinking they have until October and to make a decision on whether to get out by then. This is allowing the big players time to liquidate - now. This explains the early sharp downturn. It seems that the wealthiest have already dumped or are doing so now. And they keep hyping the collapse is in another month or two. Daily the market is tanking. The wealthy are going to trample the middle class in this game.
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Medclinician
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I know you have been watching the market in real time as I have and it is very jumpy. It would appear we keep getting quick calls of recovery, when within minutes it dives once more. My basic feeling is TPTB (the powers that be) will make every effort to create an illusion of recovery and push their faulty unemployment rates, emphasize that we are recovering and use many other indexes which are merely putting off a real showdown this September and October. The quick fix of dropping the lending rates has been used many times yet the overall bad situation is not good. The pervasive shadow of a looming national debt crisis, soaring medical costs, and trying to put bandages on a multiple social programs we cannot afford will not stop the inevitable correction on the U.S. Stock markets. Medclinician |
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Albert
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Crazy day in the market today. Today
the market opened in the green at +600 points, and everybody was
celebrating calling it "turnaround Tuesday", and at the end of the day
it tanked and closed in the red at -200. I had a feeling that would
happen. We saw the same large swings back in 2008. In fact, I had a friend text me today when it was +500 saying it's "turnaround Tuesday", and I said watch is close at -200. Closed at -204.
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Medclinician
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http://money.cnn.com/2015/08/25/investing/china-central-bank-interest-rates/?iid=EL
China is trying to fix this. To be fair, as opposed to any action taken yet in the U.S., what they did may have helped some. The People's Bank of China cut its key lending and deposit rates by .25% on Tuesday. The one year lending-rate is now 4.6% and the deposit rate is 1.75%. The moves follow a dramatic crash in Chinese stock markets which, panicked investors around the world on Monday. Worries about the pace of growth in the world's second biggest economy were fueling the selloff. The central bank acknowledged the weakness in the Chinese economy - and the need for intervention. Medclinician |
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"not if but when" the original Medclinician
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Johnray1
Valued Member Joined: April 23 2006 Location: United States Status: Offline Points: 8159 |
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Albert,I hear that China is finished,just all of the Chinese do not know it yet.I also hear that Europe is also next to go and it will not be very long and everyone from China and Europe,That has money is transferring it to this country as fast as they can and the people with money are also coming.Johnray1
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Albert
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For the hell of it, we're going to put up a new site at EconomyUS.com, with live tickers for all the world markets. For our international friends here, please forgive the "US" part of the name as there are no other names to go with. Look at it as if it doesn't stand for U.S., but for "us". It can be either one.
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CRS, DrPH
Expert Level Adviser Joined: January 20 2014 Location: Arizona Status: Offline Points: 26660 |
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Well, the myth of "pink communism" seems to be winding up!
Cash is flying out of China, seeking safe havens. Party leaders are discovering that you can boss the people around at bayonet-point, but that doesn't alter the laws of economics. Sit tight....where's Kilt been? His Death Star is waiting!!
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CRS, DrPH
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Satori
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Chinese Stocks Are Crashing; Yuan Devalues, Deposit Rate Spikes To Record High, Japan Denies "G7 Response" Planned |
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Albert
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closed -588
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Albert
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Dow Pre-market open now at -680.
You can follow it here. http://thestockmarketwatch.com/markets/pre-market/today.aspx |
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Albert
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Pre-market open for U.S. stocks looking like a rough one today. Possible Black Monday ahead. Dow set to open -430 here
U.S. stocks poised for another sharp dropGot some rest over the weekend? Good. There's a bumpy ride ahead.U.S. stock futures are sharply down on Monday morning as worries about China continue to fuel a global sell off. Nasdaq futures are down 3.5%, with Dow and S&P futures both around 2% lower. Here are the five things you need to know before the opening bell rings in New York: Related: World markets plunge as sell off continues 1. China -- no intervention, more losses: The Shanghai Composite closed 8.5% down, wiping out all gains made so far this this year. It has now fallen nearly 38% since its June peak. China's smaller Shenzhen Composite lost 7.7%. Traders were hoping Chinese authorities would step in over the weekend to support the markets. "Unfortunately, there was nothing but disappointment and trader's angst turned into anger this morning and they decided to liquidate their positions," said Naeem Aslam, chief market analyst at Ava Capital Markets. 2. Stock market movers -- Apple, Netflix suffer: Many U.S. stocks look poised to start the week deep in the red. Apple (APLE) is down over 4% in premarket trading, while Netflix (NFLX, Tech30) is down more than 5%. Facebook (FB, Tech30) is trading about 4% lower. Bank of America (BAC) has also suffered losses, trading 3.5% down in premarkets, and other financial stocks are under pressure. 3. Oil hits new 6-year low: Oil plunged 3.5% on Monday to trade at $39.04 per barrel. Prices had fallen below $40 per barrel for the first time since 2009 on Friday. Natural gas and gold are also down. Cheap oil and other commodities are weighing heavily on many emerging markets, with Russia, Brazil, and Venezuela among the biggest losers. 4. International markets plunge: All major European markets opened down on Monday. London's FTSE 100 plunged 2.7% after entering correction territory last week. The "Footsie" is weighted towards resource companies and has been hit by the slowdown in demand from China. Germany's DAX also fell 2.7%. China is a crucial market for its automakers. And it was all misery for other Asian markets again, with all major regional indexes closing in the red. Tokyo's Nikkei ended the session 4.6% down. Related: Why stocks are a sea of red 5. Friday market recap: The stock market took a dramatic plunge Friday. The Dow Jones industrial average closed out its worst week since 2011, losing a staggering 531 points, or more than 3% on Friday alone. The S&P 500 also dived 3%, and the Nasdaq shed 3.5%. Why the drop? Investors are shaken by concerns about China's economy, a rate hike from the Fed and falling oil prices. http://money.cnn.com/2015/08/24/investing/premarket-stocks-trading/index.html ALSO - Looks like China is about to devalue the yuan once again soon. Premarket: Great fall of China sinks world stocks, U.S. dollar tumblesAlarm bells rang across world markets on Monday as a 9 per cent dive in Chinese shares and a sharp drop in the dollar and major commodities panicked investors. European stocks opened more than 3 per cent in the red after their Asian counterparts slumped to 3-year lows as a three month-long rout in Chinese equities threatened to get out of hand. Safe-haven government bonds and the yen and the euro rallied as widespread fears of a China-led global economic slowdown and currency war kicked in. “It is a China driven macro panic,” said Didier Duret, chief investment officer at ABN Amro. “Volatility will persist until we see better data there or strong policy action through forceful monetary easing.” With serious doubts now emerging about the likelihood of a U.S. interest rate rise this year, the dollar slid against other major currencies. It was last at 120.25 yen its lowest in three months. The Australian dollar fell to six-year lows and many emerging market currencies also plunged, whilst the frantic dash to safety pushed the euro to a 6-1/2-month high. “Things are starting look like the Asian financial crisis in the late 1990s. Speculators are selling assets that seem the most vulnerable,” said Takako Masai, head of research at Shinsei Bank in Tokyo. Commodity markets took a fresh battering. Brent and U.S. crude oil futures hit 6-1/2-year lows as concerns about a global supply glut added to worries over potentially weaker demand from China. U.S. crude was down 3 per cent at $39.20 a barrel while Brent lost 2.4 per cent to $44.40 a barrel. Copper, seen as a barometer of global industrial demand, tumbled 2.5 per cent, with three-month copper on the London Metal Exchange hitting a six-year low of $4,920 a tonne. Nickel slid 4.6 per cent to its lowest since 2009 at $9,730 a tonne. GREAT FALL OF CHINA The near 9 per cent slump in Chinese stocks was their worst performance since the depths of the global financial crisis in 2009 and wiped out what was left of the 2015 gains, which in June has been more than 50 per cent. The latest rout was rooted in investor disappointment that Beijing did not announce expected policy support over the weekend after its markets shed 11 per cent last week. Compounding the real-time falls all index futures contracts slumped by their 10 per cent daily limit, pointing to more bad days ahead. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 5.1 per cent to a three-year low. Tokyo’s Nikkei was down 4.1 per cent and Australian and Indonesian shares hit two-year troughs. “China could be forced to devalue the yuan even more, should its economy falter, and the equity markets are dealing with the prospect of a weaker yuan amplifying the negative impact from a sluggish Chinese economy,” said Eiji Kinouchi, chief technical analyst at Daiwa Securities in Tokyo. There was further evidence that developed markets were becoming synchronised with the troubles. London’s FTSE which has a large number of global miners and oil firms, was down for its 10th straight day, its worst run since 2003. http://www.theglobeandmail.com/globe-investor/inside-the-market/market-updates/premarket-great-fall-of-china-sinks-world-stocks-us-dollar-tumbles/article26069709/ |
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Dutch Josh
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http://www.rt.com/business/313180-china-market-crash-monday/
The Shanghai composite has closed 8.5 percent in the red, as Beijing’s measures have failed to ease investor's concerns about the slowdown of the world's second-largest economy. China's stocks are now down for the year after being up 60 percent in June. Japan's Nikkei has closed 4.6 percent down. Hong Kong's Hang Seng is 5.21 percent in deficit. Mumbai's Sensex is down over 4 percent in late trading. < id="twitter-widget-i1440405693387343617" scrolling="no" border="0" allowtransparency="true" ="twitter-tweet twitter-tweet-rendered" allowfullscreen="true" -tweet-id="635665898188095488" title="Twitter Tweet" style="margin: 10px 0px; padding: 0px; display: block; max-width: 100%; : static; visibility: ; width: 500px; height: 707.3125px; border-style: none; border-width: initial; min-width: 220px;"> The ripple effects are being felt on the European markets. London's FTSE is down 2.5 percent in early trading. Germany’s DAX is losing over three percent, sliding below the 10,000-point mark for the first time since January. The European stock markets have continued last week’s negative trend, when 13 out of 18 western European markets lost 10 percent or more, with Germany’s DAX Index down 18 percent. London's FTSE 100 index suffered its biggest weekly drop in 2015, slumping 5.2 percent. Commodities are down across the board with Brent oil trading at $44.22 as of 08:20 GMT, which is a six-and-a-half-year low. The Russian ruble has hit new lows against major currencies, dragged down by both weak oil and Chinese stocks. The Russian currency was trading near 71 rubles against the dollar and 81.40 rubles against the euro as of 08:22 GMT. |
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We cannot solve our problems with the same thinking we used when we created them.
~Albert Einstein |
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Johnray1
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Albert,they need to close all stock markets for 2 or 3 days or even a week to stop panic selling and panic shorting of the markets.Johnray1
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Albert
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Aussie stockmarket tumbles amid growing fears over health of global economyAUSTRALIAN shares have plunged today with $53 billion stripped from the value of the nation’s companies as uncertainty grips global markets. Early this afternoon, the benchmark ASX 200 index was down 3.7 per cent, with the losses felt across the board from banks to resources stocks. The index tumbled 2.6 per cent within the first 30 minutes of trade today. It is among the worst openings to a trading session in the past five years. Banking giants including the Commonwealth Bank, Westpac, National Australia Bank and ANZ along with the big miners Rio Tinto and BHP Billiton all shed about 2 per cent each. Mum and dad favourite, Telstra, had also dropped by more than one per cent. At 12.48pm, the ASX 200 was down 3.7 per cent, with $53.2 billion wiped from the value of Australia’s listed companies. That puts it on track to be the worst day since September 2011. Asian sharemarkets have also been swept up in the rout. The main Hong Kong and Shanghai indexes have tumbled in early trade today as concerns about China’s economy deepen despite efforts by Beijing to shore up local share prices. Hong Kong’s benchmark Hang Seng index dropped more than 4 per cent in the first minutes of trading. China’s Shanghai Composite index slumped 5.1 per cent in early trade and was down 8.5 per cent early this afternoon. http://www.heraldsun.com.au/business/aussie-stockmarket-tumbles-amid-growing-fears-over-health-of-global-economy/story-fni0dcne-1227496166225 |
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Albert
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Hi John, not looking good for China. Already down 8% early on. They might halt the market there soon.
Chinese stocks crash as Shanghai drops over 8 per cent
Investors watch stock prices in volatile equity markets in mainland China. Photo: AFP Chinese stocks were engulfed by a wave of selling on Monday, with stocks in Shanghai wiping out all the gains they had posted for the year and the is now trading in negative territory for 2015. The Shanghai Composite index was trading at 3,221.67 at 10:15 am, down 8.16 per cent for the day and down 0.02 per cent for 2015. The Shenzhen Composite Index traded at 1,888.46, down 7.4 per cent, or 150.93 points. The ChiNext Price Index slides 7.89 per cent, or 184.8 points to trade 2,157.15. Shenzhen slid below the psychological 2,000 point level it had been trying to hang onto for weeks. The fall likely triggered sell-stops under that level, aggravating the decline. Chinese shares have been in near free-fall since scaling a 7-year top on June 12. Warnings against what it called "malicious short selling" by the government and billions of yuan in measures announced by Beijing to prop up the market has failed to stem the rout. The three week long fall of both Shanghai and Shenzhen after June 12 erased nearly US$4 trillion in value from the two markets. |
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Johnray1
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Albert,this is very interesting and scary. I was just about to check the Asian Markets,but you have all ready checked them,thank you. The US Market is way over due for a correction,but if this is just a normal correct,it should turn around or at least stop sliding so fast pretty soon.Johnray1
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Albert
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Asia markets are plunging and are in free fall -
http://www.cnbc.com/2015/08/23/asia-braces-for-selloff-on-tanking-us-markets.html |
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OriginalHappyCamper
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Another Joins the broke crowd
Lebanese Prime Minister Tammam Salam said the government may be unable to pay wages next month, as protesters clashed with police for a second day over the cabinet’s inability to resolve a crisis over garbage disposal. Lebanon’s political impasse may also prevent the government from selling bonds, affecting its credit rating, Salam said at a news conference in Beirut on Sunday. “The garbage crisis is what broke the camel’s back, but the story is much bigger than this,” Salam said. “Did you know that because of the failure to take decisions, we may not be able to pay the salaries of a large number of public sector employees?” http://www.bloomberg.com/news/articles/2015-08-23/lebanon-premier-warns-of-economic-collapse-amid-political-crisis |
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Jesus Christ died and was raised on the third day, the only "God" to overcome death.
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Albert
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Greece is basically down to bartering and trading. Let's hope we're not falling into the same scenario.
(NaturalNews) Greece's finances and its national economy have both deteriorated so dramatically that now average citizens are being forced to do something they haven't had to do since the country was occupied by Nazi Germany: Barter for their basic needs and essentials. As reported by Reuters, the rise in bartering comes amid a government-imposed cash squeeze stemming from an Athens-imposed three-week closure of the country's banks on June 28. Since then government capital controls, put in place to avoid a run on banks, have limited the supply of cash in the hands of ordinary Greeks. Reuters further reported: Wild boar and power cuts were Greek cotton farmer Mimis Tsakanikas' biggest worries until a bank shutdown last month left him stranded without cash to pay suppliers, and his customers without money to pay him. Squeezed on all sides, the 41-year-old farmer began informal bartering to get around the cash crunch. He now pays some of his workers in kind with his clover crop and exchanges equipment with other farmers instead of buying or renting machinery. 'It's a nightmare' Tsakanikas has become part of an expanding barter economy that many Greeks abhor because they see it as a step back from modern life, Reuters continued. However, many others are embracing it as a means to an end: Short-term economic survival. When Tsakanikas rented a field in early August, he agreed he would pay for it with a portion of his clover crop. "It's a nightmare. I owe many people money now - gas stations and firms that service machinery. I have to go to the bank every single day, and the money I can take out is not enough," said Tsakanikas, who also grows vegetables on about 150 acres. "I've begun bartering in some forms - it existed in the past but now it is growing... Times have become really tough, and friends and relatives help each other out," he added, according to Reuters. A growing number of Greek citizens are being forced into the barter economy, especially those living in rural areas, swapping goods and services in cashless transactions. The capital controls were put in place by the government of socialist Prime Minister Alexis Tsipras just a few days before Greece became the first advanced economy to default on a loan from the International Monetary Fund. That forced Athens to request a third financial bailout, which was humiliating for many in the country. And while capital controls are being eased a bit, Greeks can still only withdraw 420 euros a week from their bank accounts. It's hard to estimate just how much of Greece's economy is now based on the barter system because so much of it is informal. However, anecdotal evidence indicates that barter is surging. Indeed, many saw this coming. Zero Hedge noted in a recent blog post that the site predicted in February that Greece's economic conditions would deteriorate to the point where, quoting Credit Suisse, the country would be "digitally bombed back to barter status." Stock market is next to take a hit Greece was in a perilous economic position anyway, but it became worse as negotiations for a new bailout deal – something Greece wanted but the IMF did not – dragged on. For every day without a deal, nearly 60 businesses closed, 613 Greeks lost full time jobs and the Greek economy lost 22 million euros. But the debt crisis was really one of Tsipras' making. He, along with his fellow Syriza party members, rode to power on a promise of ending punishing austerity policies that were part of the original IMF and European Central Bank bailout agreement, but which were increasingly unpopular with the Greek public. Trouble is, the austerity was necessary because the Greek government was paying out more in public welfare than it was taking in as a result of taxes and other revenues. As the economy has tanked and barter has become increasingly common – something that could happen in a collapsed U.S. economy - Greece has suffered a brain drain: While entrepreneurship and retail sales have fallen 70 percent, some 7,500 doctors have left the country since 2010. UPDATE: Greece's bad economic news just keeps getting worse. In recent days, the Greek stock market Greek bank shares fell dramatically, dragging down the broader Greek stock market. Learn more: http://www.naturalnews.com/050888_Greece_barter_economy_financial_collapse.html#ixzz3jgZQ2zMH |
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Albert
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Some reports say as low as 3000, as well as full collapse of the dollar. If the dollar collapses, having cash might not matter that much. If it gets that bad, and if they come out with a new currency of some sort, gold is always the way to go. That video I posted talks about the entire economy rebooting. Having said all of that, going all cash is probably a good (better) way to go at the moment. taking a 10% hit on your 401k for cashing out may be a small price in comparison, if it hits 6000. Again, some are saying even lower. I'm yet to see a report that says a collapse isn't imminent.
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hachiban08
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I just bought a medium sized water & fire proof safe to protect my golden, silver, and bronze aged comics that I collect. Might have to add some side money in there as well. A statement from my friend that used to work with trading and studied at University of the Pacific on Friday: "I told everyone to sell off their securities in their 401k plans and any
other investment brokerage account they have. I will say it again, I
warned everyone when the market was at almost 18,000. Look today, it is
at 16400. This sell off will continue. The big correction is here. I
wouldn't be surprised if the global sell off drives us down to 6,000
points by end of this year. Call your advisor, accountant whoever you
trust and get everything out of the market and go to
cash. Everyone with a 401k plan do the same. If you can't get into
cash move it into a very very conservative fund or consider even taking
it out or something." Any opinions on his statement? I know very little about the stock market game, despite my old boss playing it a lot.
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Be prepared! It may be time....^_^v
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Albert
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China's stock market opens in 2 hours. Look out.
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Albert
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People should watch this video. Talking about a full reboot and reset of the economy. No deliveries to stores, etc... it's about time to start prepping for this. Getting very close.
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Albert
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Pretty crazy stuff, but if the economy does collapse, as satori mentioned, better start looking at fine tuning your preps. During the 1929 crash, people died of starvation. Perhaps it could even be worse these days since we're so dependent on deliveries. And as usual, and as we know, don't expect the fed gov't to come to the rescue.
Wall Street Crash of 1929 and its aftermathThe strength of America’s economy in the 1920’s came to a sudden end in October 1929 – even if the signs of problems had existed before the Wall Street Crash. Suddenly the ‘glamour’ of the Jazz Age andgangsters disappeared and America was faced with a major crisis that was to impact countries as far away as Weimar Germany – a nation that had built up her economy on American loans. The huge wealth that appeared to exist in America in the 1920’s was at least partly an illusion. For example the African Americans and the farmers had not benefited in the Jazz Age but neither had 60% of the whole population as it is estimated that a family needed a basic minimum of $2,000 a year to live (about £440) and 60% of US families earned less than this. Almost certainly some of the 60% included those who had gambled some money on Wall Street and could least afford to lose it in the crash of October ‘29. The very rich lost money on Wall Street but they could just about afford it. But the vast bulk could not afford any loss of money. This had a very important economic impact as these people could no longer afford to spend money and therefore did not buy consumer products. Therefore as there was no buying, shops went bust and factories had no reason to employ people who were making products that were not being sold. Therefore unemployment became a major issue. The Great Depression took a while to get going but by the winter of 1932 it was at its worst.
The impact of the Wall Street Crash:
There was no system of benefit for the unemployed. Charities such as the Salvation Army gave out free food and shelter. It is known that some people actually starved to death. In some states men deliberately set fire to forests to get temporary employment as fire fighters while farmers killed their animals as no-one could afford to buy them in the cities despite there being great hunger there. What did the government do? The president was a Republican, Herbert Hoover. He believed that if you were in trouble you should help yourself and not expect others to help you. This he called “rugged individualism”. Therefore he did not do a great deal to help those out of work.
Hoover did not believe that the depression would last – “Prosperity is just around the corner” is what he said to businessmen in 1932 when things were just about at their worst. Squalid cardboard campsites were created in cities to live in…called “Hoovervilles”. The nick-name of the soup given out by charities for the unemployed was “Hoover stew”. However, Hoover did do some good. Money was used to create jobs to build things such as the Hoover Dam. In 1932 he gave $300 million to the states to help the unemployed (Emergency Relief and Reconstruction Act) but it had little impact as states run by the Republicans believed in “rugged individualism” more than Hoover did and they used only $30 million of the money offered to them. Many saw Hoover’s attempts as being “too little too late”. In the November 1932 election, Hoover was heavily defeated by the Democrat candidate. This man had promised the American public a “New Deal“. His name was Franklin Delano Roosevelt. Thirteen years of Republican rule had come to an end. http://www.historylearningsite.co.uk/modern-world-history-1918-to-1980/america-1918-1939/wall-street-crash-of-1929-and-its-aftermath/ |
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Albert
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People are probably liquidating their 401k's, or will be soon. To reach levels of under 6000, that's what it amounts to. A run on 401ks....
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Albert
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Stock market heading to 3000? There will be nothing left. That's not a crash ... but a "Collapse".
Famed Harvard Economist Predicts: “The Greatest Stock Market Collapse since the Great Depression”
Investigative Report from Dent ResearchThe man who called nearly every major economic trend over the past 30
years…including the 1991 recession, Japan’s lost decade, the 2001 tech
crash, the bull market and housing boom of the last decade and, most
recently, the credit and housing bubble has issued a startling new
prediction. In fact, Dent says, “We’ll see a historic drop to 6,000… and when the dust settles – it’ll plummet to 3,300. Along the way, we’ll see another real estate collapse. Gold will sink to $750 an ounce and unemployment will skyrocket… It’s going to get ugly.” In an exclusive video presentation Dent details the “perfect storm”
of economic and demographic realities brewing that will likely make the
next few years some of the most trying times in U.S. economic history. He goes on to paint a detailed picture of the financial carnage this crash could inflict on America: Housing prices will fall again, by as much as 40%... the so-called "recovery" of 2013/14 will diminish faster than an ice on a hot summer day as mortgage rates rise and the wrong group of investors – a.k.a. speculators - lose their taste for the market. Faced with huge revenue shortages, the federal deficit will balloon from $1.3 trillion to as much as $3 trillion. Despite the lessons learned in 2008, mortgage companies and financial institutions have resumed offering low interest, no principle "teaser" loans and increasingly risky investments, which will lead us straight back into a second financial crisis, with no bailout possible this time.” But Dent, a Harvard alum and best-selling author who’s appeared on Fox News, CNBC and The Alex Jones Show among countless others, adds that there’s actually a massive upside to this impending crisis. He says those who position themselves accordingly beforehand could have the opportunity to earn millions through specific "decline-related" investments year after year, over the next decade as well as maximize the next long-term “boom cycle,” which he predicts will begin between early 2020 and late 2022. The controversial video, initially released to a private audience, has gone viral as hundreds of thousands are seeing new evidence for a looming economic crisis, and are heeding Harry Dent’s advice to survive and prosper. Take a few moments to watch his special presentation to learn the facts as well as prepare yourself for the coming crisis. However, viewership is limited to only those who provide their email address. “The collapse is coming soon, so we want to keep in touch with those who watch the video,” comments Harry Dent, “So before they see it, we just ask for their email address so we can send them our regular updates called Economy and Markets Daily. It’s purely a free benefit. If viewers don’t find out timely insights helpful, they can just click the unsubscribe button. So no strings attached.” Indeed, over 300,000 people are already receiving Dent’s daily updates through Economy and Markets Daily, and hundreds more are joining every day! Perhaps they will be prepared for this looming collapse that will wipe out so many. https://research.economyandmarkets.com/X195R617/?gclid=Cj0KEQjwu- CuBRCQ2byQtMep7e0BEiQABQKlkTXsbH_ u02mNeO34LMoOabi3cfgr9CZU0j17oljO8_saAkaW8P8HAQ |
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Dutch Josh
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The way "markets moved" makes me think there will be major "news" this weekend. (Further escalation currency-war, Euro-crisis ? Brazil/Turkey corruption scandal ?) The BRICS (Brazil, Russia, India, China, South Africa) nor the MINT (Mexico, Indonesia, Nigeria, Turkey) can pull the economy out of problems. QE-4 (?), ECB, BoJ proberbly only make things worse...
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We cannot solve our problems with the same thinking we used when we created them.
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Albert
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If we see a substantial decline on Monday, the bottom will fall out.
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Dutch Josh
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We cannot solve our problems with the same thinking we used when we created them.
~Albert Einstein |
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DANNYKELLEY
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Well at least I do have a whole lot of brass
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WHAT TO DO????
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Albert
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Market collapse appears to in fact be underway. - 530 today and - 1000 for the week. World economy coming to halt may sum it up satori.
Stock Market: Dow Plunges 530 Points and More Than 1,000 for the WeekStocks were clobbered Friday on Wall Street — a brutal finish to the worst week in the market in four years. The Dow Jones industrial average closed down 530 points, the ninth-biggest point decline in its history. Investors worried about signs of a slowdown in the Chinese economy that could hammer companies and countries around the world. The stock of Apple, which depends heavily on demand from China, fell more than 6 percent. The Dow finished at 16,459. It fell more than 1,000 points this week alone and is down more than 10 percent from its all-time high in May — the definition of a market correction. That has not happened in four years. The Dow's decline for the day came to 3.1 percent. The Standard & Poor's 500 index, a broader gauge of the stock market, finished down 3.2 percent and closed below 2,000 for the first time since early this year. "Right now there is a feeling of fear in the marketplace, and all news is interpreted negatively and it's interpreted indiscriminately," Tom Digenan, the head of U.S. equities at UBS Global Asset Management, told CNBC. In percentage terms, the decline on Friday was nowhere close to the worst of all time. On Black Monday in 1987, when the Dow fell 508 points, it represented a 22 percent decline. The damage on Friday wasn't limited to Apple. John Deere stock fell more than 8 percent and Microsoft more than 5 percent. Energy stocks and technology stocks were hammered across the board. Utility stocks, seen as a relatively stable bet in a rough market, fared the best, but even they were down more than 1 percent. There was some good news in the sell-off: The
price of crude oil plunged below $40 a barrel for the first time since
the financial crisis in 2009. Gas has already fallen to a nationwide
average of $2.63 a gallon — 80 cents lower than a year ago. http://www.nbcnews.com/business/markets/stock-market-plunge-dow-plunges-lowest-level-year-china-fears-n413916 |
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Satori
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oil dipped below $40 for awhile bad bad BAD sign the world's economy is grinding to a halt also be watching Turkey if that country starts capital controls look for them to default like Greece did at this point anything can trigger a financial collapse |
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hachiban08
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Here's What's Driving the Decline in US Stockshttp://abcnews.go.com/Business/driving-decline-us-stocks/story?id=33226193
Following the worst slump in the U.S. stock market in 18 months on Thursday, shares continued to plunge today related to domestic and global economic concerns. Many U.S. companies and investors are worried about the second-biggest economy in the world, China, and how a slowdown there would affect their production and trade, according to experts. The Dow Jones industrial average and Standard and Poor's 500 index had their worst decline on Thursday since Feb. 3, 2014.
Here are some of the factors affecting U.S. markets:
1. China Slowdown Worries
ChinaFotoPress via Getty Images PHOTO: Employees work on the production line of a telecom equipment manufacturer on July 27, 2015 in Wuhan, China.
Similar to Thursday's decline, today’s weakness in the markets is again centered around China, said Ben Garber, Moody's Analytics economist. He pointed to a preliminary August survey released today showing Chinese manufacturing activity fell to a six-year low, which may mean lower demand for American goods. Substantial declines in Chinese stocks once again fueled sell-offs around the globe. Last week, China devalued its currency, the yuan, with the hope of spurring its own economy by making its goods cheaper and imported goods, like those from the U.S., more expensive.
2. Federal Reserve Skepticism
Manuel Balce Ceneta/AP Photo PHOTO:
Federal Reserve Chair Janet Yellen, from left, with Vice Chairman
Stanley Fischer, and the board of governors of the Federal Reserve
System, presides over a meeting in Washington on July 20, 2015.
The Federal Reserve released minutes from a recent meeting and revealed that the hike in interest rates that many investors expected in September may not happen after all. The U.S. central bank hasn't raised interest rates in nearly a decade. With interest rates near zero in most economies, "If another recession comes, markets are worried that governments may not be able to respond as flexibly," Boston College economics professor Bob Murphy said. Lindsey Piegza, chief economist with Stifel, Nicolaus and Company, said a large portion of the decline in stocks is an acknowledgment that the U.S. economy is fundamentally not strong enough to withstand a rising rate environment. Some economists are concerned that a hike in interest rates and a subsequent increase in mortgage rates could lead to a fall in housing prices and jobs slowdown.
3. GreeceGreek Prime Minister Alexis Tspiras announced his resignation on Thursday after less than a year in office and called for new elections as the country receives debt relief. "New elections might solidify this support, but in the near term will increase uncertainty about whether the Greek crisis re-emerges this fall," Murphy said.
4. More Global Concerns
Andrey Rudakov/Bloomberg via Getty Images PHOTO: A customer counts tenge currency banknotes inside a bank in Almaty, Kazakhstan, June 23, 2015.
Elsewhere in the world, Kazakhstan’s currency lost a quarter of its value on Thursday as it switched to a floating exchange rate. "Though this country’s performance does not threaten the global economy by itself, it speaks to further upward pressure on the dollar and concerns about the negative impact of a potential Federal Reserve rate hike," Moody's Garber said.
5. Oil LowsThe price of oil is now testing six-year lows. Brent crude oil, a benchmark price for oil purchases worldwide, increased only slightly by 2 cents to $47.19 a barrel on Thursday. Garber said the decline of oil prices and of other commodities signal fading emerging market growth prospects, ensuring "continued poor results for firms in the energy and mining sectors." |
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Be prepared! It may be time....^_^v
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