Global Markets Crumble - Worldwide Depression Looms
Published by Campbell M Gold in Blowing in the Wind · Saturday 10 Aug 2024 · 5:00
Tags: Global, Markets, Worldwide, Depression, Economic, Warning, USA, Financial, Crisis, United, States, America, UK
Tags: Global, Markets, Worldwide, Depression, Economic, Warning, USA, Financial, Crisis, United, States, America, UK
Global Markets Crumble as Worldwide Depression Looms
Just blown in - This dire economic warning from the USA…
The temporary market rebound on Tue, 06 Aug 2024, seems to be a momentary reprieve before the bottom ultimately falls out.
- After plummeting by 1,009 points, or 2.5 per cent, on Monday, 05 Aug 2024, the Dow rose by 294 points, or 0.8 per cent, the following day.
- The S&P 500 and the Nasdaq Composite rose by one per cent on the same day.
- The Cboe Volatility Index, also known as VIX, hit its highest level in four years on Mon, 05 Aug 2024.
America's Financial Titanic is Sinking Fast
Talk of recession is increasing, with some commentators pointing to a depression or worse once the cookie crumbles. Nobody seems to know the full extent of what awaits the nation once the financial Titanic sinks, but we know it's coming.
Japan's market losses on Mon, 05 Aug 2024, were worse than the 19 Oct 1987 "Black Monday" loss. This foreshock is paving the way for the "big one", which the "plunge protection team" (PPT) will be unable to delay, avert or dance around.
Mon, 19 Oct 1987 - "Black Monday"
"Black Monday," also known as "Black Tuesday" in some parts of the world because of time zone differences, was a global and severe stock market crash on Mon, 19 Oct 1987.
- The Event:
- Magnitude: The crash resulted in worldwide losses estimated at US$1.71 trillion. It remains one of the most significant market downturns in history.
- Dow Jones Industrial Average (DJIA): On that fateful day, the DJIA fell 508 points, representing a staggering 22.6 per cent decline—the most significant one-day drop by percentage in the index’s history.
- Causes:
- Overvaluation Concerns: Investors feared that stocks were significantly overvalued and due for a correction.
- Trade and Budget Deficits: Persistent US trade and budget deficits contributed to market jitters.
- Rising Interest Rates: The fear of rising interest rates added to the uncertainty.
- Louvre Accord Doubts: Doubts about the viability of the Louvre Accord (a monetary policy coordination effort) created a crisis of confidence.
- Portfolio Insurance Hedging: Some attribute the crash to portfolio insurance hedging, which involved computer-based models for buying or selling index futures.
- Self-Reinforcing Fear: A contagion of fear may have accelerated the fall.
- Global Impact:
- The crash initially sparked fears of extended economic instability or even a reprise of the Great Depression.
- Central banks in the United States, West Germany, and Japan provided market liquidity to prevent financial institution debt defaults. The impact on the real economy was relatively limited and short-lived.
- However, the Reserve Bank of New Zealand’s refusal to loosen monetary policy had negative and relatively long-term consequences for both its financial markets and real economy.
Black Monday 1987 was a pivotal moment in financial history. It left a lasting impact on global markets and prompted significant policy responses by the economic elite.
Back to Today
Warren Buffett, who is 93 years old, reportedly lost $15 billion during Mon, 05 Aug 2024's market plunge, despite selling off about half of his Apple holdings on the previous Fri, 02 Aug 2024. Like many other billionaires, Buffett holds onto Federal Reserve Notes (FRN) rather than stocks in anticipation of what is coming.
Meanwhile, sleepy Joe Biden is bragging on X about how excellent the economy is. He claimed to have "cancelled student debt for nearly 5 million borrowers through various actions" and "made the largest Pell Grant increase in a decade."
Nobody wants to admit anything is wrong; instead, they embrace the fairy tale that all is well. And it would seem that most Americans have bought into this lie hook, line, and sinker.
The money masters are screaming for the Federal Reserve to slash interest rates to keep the "Wall Street Casino" open. However, once the dust settles, doing so will lead to even more inflation and hyperinflation.
There is simply no fixing this corrupt "fiat currency system" as it enters the final stages of its inevitable demise. The only question is: "When will the bottom finally fall out for good?"
"One thing is for certain ... the rich don't stay losing money for long," one commentator wrote about how the whole thing is rigged for the upper crust. "These drops create massive opportunities and windfalls for the wealthy. Make no mistake."
"We are already in recession and are on the cusp of something much worse," wrote another. "And yet every economic recession brings government subsidies to the banks and corporate thieves under the 'too big to fail' scheme."
"The 90% have seen their wages and wealth redistributed to the Bezos types, and it will only happen again."
(Adapted from: https://www.newstarget.com/2024-08-08-global-markets-crumble-as-worldwide-depression-looms.html)
08/08/2024
Source:
newstarget.com
DailyMail.co.uk
CNN.com
NaturalNews.com
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