What to make of the stock market collapse?

I am totally unable to look into the crystal ball on this except to say that if this is the collapse that some people are saying this is the beginning of the End because so many aspects are being left out of this - not least the end of global dimming.

There are other ideas abroad and I am simply not equipped to tell who might be correct so I will be simply reflecting (if not contradctory) views:

From Pepe Escobar, via Facebook

EXCLUSIVE - BREAKING NEWS

I got this from an exclusive list I'm part of which includes some pretty heavy-hitters in Wall Street - yes, this is one of the joys of being an independent analyst and people dig what you do.

Yes, it is PRETTY HEAVY - and it spells out civil war:

"The fall of the Dow Jones yesterday over 800 points was a cash settlement manipulation. Now, we may see a massive crash to destroy the Trump presidency since all else has failed. The democrats feel they MUST get control of Congress. It is life or death for them. They will certainly crash the market before election if they can. They would sooner destroy the US economy than let the GOP win."

"The market is massively cashed settled. It should be thought of as a rigged roulette wheel. Big moves, little moves, all the same. Dropping the market a lot pumps up premium and they are premium sellers. Always. They sell all premium that you and everyone wants to buy, indiscriminately. Then the supercomputers kick in to determine the best outcomes. Trivial compared RTO putting a man on the moon except it requires raw computing power that is currently and readily available."

"If POTUS wants to stop this, we can help him."

****

Top of the list for "this is a correction – the president knows best" is Hal Turner.

This was interesting, however:

"Much of the selling yesterday and again today has been INSURANCE COMPANIES liquidating stocks to get cash to pay off claims from Hurricane Michael!  The companies already know the claims for destroyed property will reach into the "tens of billions" and that is why they are freeing-up cash."

About the Stock Markets Dropping; Last Gasp of New World Order Wackos

Very top of the list for those that think this is a "plan", a "transition" that is running "on schedule" is Dave from the X22 Report.

As The World Decouples From The Fed Note,The Transition Is Happening Quietly

We Witnessed The 3rd Largest Point Crash In Stock Market History On The Same Day That The 3rd Most Powerful Hurricane To Ever Hit The U.S. Made Landfall

Economic Collapse Blog,

10 October, 2018

If you don’t believe in “coincidences”, what are we supposed to make of this?  On Wednesday, the 3rd most powerful hurricane to ever hit the United States made landfall in the Florida panhandle.  Entire communities were absolutely shredded as Hurricane Michael came ashore with sustained winds of 155 miles per hour.  

You can find the entire article that I just posted about this massive storm right here.  In this article, I am going to focus on what just happened on Wall Street.  At the exact same time that Hurricane Michael was causing chaos in the Southeast, an October stock market crash was causing havoc in the Northeast.  The Dow Jones Industrial Average was down 831 points, which was the 3rd largest single day point crash in stock market history.  Of course it isn’t as if we hadn’t been repeatedly warned that this was coming, and the truth is that it looks like this is only the start of the financial shaking.

In fact, international financial markets are in a state of chaos as I write this article.  Asian markets are a sea of red, and at this moment Dow futures are way down.

So it appears likely that Wednesday’s nightmare may extend into Thursday as well.

But before we look ahead too much, let’s talk about the utter carnage that we just witnessed.

According to Bloomberg, the 500 wealthiest people in the world lost 99 billion dollars on Wednesday…

Plunging global markets lopped $99 billion from the fortunes of the world’s 500 wealthiest people on Wednesday, the year’s second-steepest one-day drop for the Bloomberg Billionaires Index.

Amazon.com Inc. founder Jeff Bezos lost $9.1 billion, the most of anyone on the index, as shares of the online retailer fell the most in more than two years. The plunge lowered Bezos’s net worth to $145.2 billion, its lowest since July.

Can you imagine losing that much money on a single day?

The Dow Jones Industrial Average has now fallen for four out of the last five trading sessions, and for the month as a whole all three of the major indexes are way down…

Stocks have fallen sharply this month. For October, the S&P 500 and the Dow are down more than 4.4 percent and 3.3 percent, respectively. The Nasdaq, meanwhile, has lost more than 7.5 percent.

Tech stocks are being hit particularly hard.  In fact, tech stocks just had their worst day in more than seven years…

Technology stocks got clobbered on Wednesday, suffering their worst day in more than seven years, as concerns over rising interest rates punished the overall market, particularly shares of companies that have been the best performers.

The S&P 500 Information Technology Index closed at $1,220.62, down 4.8 percent, marking the biggest decline since August 18, 2011, when the index dropped 5.3 percent. All 65 members of the index fell.

At this point, 330 out of the 505 stocks that make up the S&P 500 are already more than 10 percent below their 52-week highs.

That means that about two-thirds of all S&P 500 stocks are officially in correction territory.

And 140 of those stocks are already down more than 20 percent from their 52-week highs, and that means that they are officially in bear market territory.

So why is this happening?

Many of the “experts” are pointing to the dramatic rise in interest rates…

Nervousness had been building for days on Wall Street. The catalyst was the recent spike in the yield on a closely watched government bond to a seven-year high.

The 10-year Treasury note — whose key rate impacts the pricing on things ranging from fixed-rate mortgages to stocks to virtually every financial asset on the planet — recently climbed above 3.25 percent for the first time since May 2011. And when you add the threat of higher borrowing costs on things like houses and cars and corporate debt to the economic obstacles caused by the U.S. trade war with China, all it takes is a whiff of weakness to set a major sell-off in motion.

A week ago, I warned my readers that rapidly rising rates could spark a market sell-off, and now it is happening with a ferocity that is absolutely breathtaking.

Needless to say, President Trump was not thrilled by the market crash on Wednesday, and he is pointing the blame at the Federal Reserve…

President Donald Trump slammed the Federal Reserve as “going loco” for its interest-rate increases this year in comments hours after the worst U.S. stock market sell-off since February.

Trump said in a telephone interview on Fox News late Wednesday night the market plunge wasn’t because of his trade conflict with China: “That wasn’t it. The problem I have is with the Fed,” he said. “The Fed is going wild. They’re raising interest rates and it’s ridiculous.”

“That’s not the problem,” he said of the trade standoff. “The problem in my opinion is the fed,” he added. “The fed is going loco.”

I love it.

I absolutely love it.

Could it be possible that we will soon see supporters chant “end the Fed” at Trump rallies?

No president has ever openly criticized the Federal Reserve like this, and I greatly applaud Trump for doing so.

And he is precisely correct – the Federal Reserve is the problem.

Nobody has more power over the performance of the U.S. economy than the Federal Reserve does, and the only way that our long-term economic and financial problems will ever be fixed is if the Federal Reserve is shut down.

So I hope that President Trump’s feud with the Federal Reserve gets as heated as possible.  I hope that the Federal Reserve becomes a central issue during the 2020 presidential election, and I hope that every Trump supporter in the entire country will urge Trump to make a promise to shut down the Federal Reserve.

The Federal Reserve is a deeply insidious system that has turned America into a nation of debt slaves, and it is definitely time to end that sick and twisted debt-based system and return this nation to a solid financial foundation.

Peter Schiff –Coming Financial Crisis Much Bigger than 2008

Greg Hunter

 It’s been 10 years since the 2008 financial meltdown. Money manager Peter Schiff warned the world about the last crisis and has a new warning about another coming financial crisis. Schiff says, “The problem is now we are on the precipice of a much bigger crisis than before. The next time, if they try to reflate those bubbles, which they will, it will be a spectacular failure because the markets are now prepared for the opposite. Everybody, right now, assumes the Fed is going to be able to keep raising rates. They assume they are going to shrink its balance sheet and that we have this booming economy that will never bust. When the Fed has to reverse course abruptly, acknowledge the underlying weakness that everybody has been oblivious to and they start cutting rates and launching another round of quantitative easing (money printing), I think the dollar is going to fall through the floor.”

On gold, Schiff contends, “People are going to be dumping their dollars and buying gold. . . . If you understood what the Fed was doing, you would be buying gold, but most people don’t understand.

Join Greg Hunter as he goes One-on-One with Peter Schiff, founder of Euro Pacific Capital and Schiff Gold. 

JIM ROGERS - Economic Collapse Will Hit This October 2018

 

Biggest market crash of our lifetime is coming: Economist Harry Dent

Fox Business

This is what NZ media, which never talks about the true state of affairs THINKS you should know.

Why markets are sliding and who you should blame for it

Global markets are falling so fast it's difficult to keep up with the numbers.

The Dow Jones industrial average in the US fell 3.2 per cent on Wednesday.

In China, the Shanghai Composite was down 5.2 per cent overnight.

Virtually all European indexes lost more than 1.5 per cent on Thursday.

Britain's blue-chip FTSE 100 lost 1.6 per cent in midday trading on Thursday.

This is not random.