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Panic-like Selling' Grips Wall Street
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Dec 9, 2018 11:48:47   #
pafret Loc: Northeast
 
“'Panic-like Selling' Grips Wall Street As The Economic Numbers
Point To “A Lot of Unpleasant Things That Nobody Wants To Admit”
by Michael Snyder


"Fear is spreading like wildfire on Wall Street, and on Friday we witnessed yet another wave of panic selling. The Dow Jones Industrial Average fell another 559 points, closing at 24,389. Previously I had warned that once we solidly broke through 25,000 that it could trigger an avalanche of panic selling, and that is precisely what has happened. The Dow is now down more than 9 percent from the peak in early October, but the S&P 500 is doing even worse. The S&P 500 is now down 10.2 percent from the September peak, and that means that it is officially in correction territory. It has now been two solid months, and the sell-off on Wall Street shows no signs of abating.

And for certain sectors, the carnage that has been unfolding can definitely be called a “crash”. FANG stocks are now down 24 percent from the peak, and global systemically important banks have now fallen a whopping 33 percent from the 52-week high.

Ladies and gentlemen, the big banks are officially in trouble once again, and it is going to be a wild ride moving forward. And the way that things wrapped up for the markets on Friday has many wondering what Monday will bring. According to one key index, investors were dumping stocks so rapidly on the Nasdaq on Friday afternoon that it was officially considered to be “panic-like activity”: "Selling on the Nasdaq reached panic-like proportions Friday afternoon with less than an hour left in regular trade, as the exchange’s Arms index rose. The Arms is a volume weighted breadth measure, that tends to rise when the broader market falls, as the intensity of the selling in declining stocks is usually greater than the intensity of buying in rising stocks. Levels above 2.000 are considered panic-like activity. The Nasdaq Composite Index COMP, -3.05% was off 3% at 6,969. The number of advancing stocks compared against decliners was at 2,108 to 787, pushing the Arms index on the exchange to 2.068.

Thanks to Friday’s nightmare, this week ended up being the worst week for U.S. stocks since March. This wasn’t supposed to happen in December. According to the experts, we were due for a nice “Santa Claus rally” and everybody was supposed to go home for the holidays really happy. But that hasn’t happened. Instead, the markets are coming apart like a 20 dollar suit.

And guess who CNN is blaming for the stock market decline? I’ll give you just one guess, and his name rhymes with “Gump”. The following comes from CNN: "From “Tariff Man” tweets and inverting yield curves to conflicting messages from Trump advisers and the arrest of a Chinese executive, there is no shortage of headlines keeping investors awake at night."

They don’t want to admit that the same thing would be happening if Hillary Clinton was in the White House. This isn’t about politics. This is about a financial system that has always been destined to collapse.

Meanwhile, the stunning implosion of the cryptocurrency bubble continues to accelerate. At this point, the price of Bitcoin has now fallen more than 80 percent from where it was a year ago: "In December 2017, bitcoin prices hit a record high of just under $20,000. Flash forward to December 2018 and bitcoin is now trading a little below $3,400. That’s a more than 80% plunge. Bitcoin is at a 15-month low."

But prices have really gotten whacked this week, falling nearly 20% in just the past five days alone. Other major cryptos such as Ripple, Ethereum and Litcoin have experienced similar crashes.

Yes, this is really happening. Bubble after bubble is bursting, and a day of reckoning for the global financial system is here.

Things are unfolding just as myself and so many others have been warning. Over the past couple of years, there has been a bubble of false hope even though none of the problems that caused the last financial crisis were ever fixed. Instead, the Federal Reserve and other global central banks simply patched things together and inflated the bubbles to a much larger degree than we had ever seen before.

Now everything is unraveling, and many of the “experts” are still in denial. I really like how Peter Schiff made this point during a recent interview: “What has happened in the last week is very, very bullish for the price of gold, and the price of gold is not catching much of a bid. I think again, the main reason for this is because nobody gets it. People still think this is a bull market. They’re not worried about the decline. They think it’s just a buying opportunity. It’s just a correction. They still think the economy is good. Even though the bond market doesn’t, even though the yield curve is inverting in the front end of the curve, people are dismissing that. They’re dismissing the housing data; they’re dismissing the build in the crude inventories. They’re not looking at any of the real data because nobody wants to believe it. Everybody still wants to believe all the hype - that this economy is great, that this economy is booming. Nobody wants to deal with the truth; because you know how grim the reality is? Because if you have to accept the fact that this economy is going into recession, then you have to accept a lot of unpleasant things that nobody wants to admit.” As always, Peter Schiff is making a lot of sense.

If you follow my work on a regular basis, than you already know that I have been highlighting the gloomy economic numbers as they have been steadily rolling out. All of the numbers tell us that economic activity is slowing down. All of the numbers tell us that we are heading into a recession (if we are not already in one). And all of the numbers tell us that another great financial crisis is now upon us.

The time for false hope is over. Now is a time to come to grips with reality, because things are going to get very tough in the months ahead."
- http://theeconomiccollapseblog.com/

Related:
"U.S. Accused Of 'A Declaration Of War' Against China As The Stock Market Teeters On The Precipice Of Disaster"
http://www.investmentwatchblog.com/u-s-accused-of-a-declaration-of-war-against-china-as-the-stock-market-teeters-on-the-precipice-of-disaster/

Reply
Dec 9, 2018 12:02:15   #
nwtk2007 Loc: Texas
 
pafret wrote:
“'Panic-like Selling' Grips Wall Street As The Economic Numbers
Point To “A Lot of Unpleasant Things That Nobody Wants To Admit”
by Michael Snyder


"Fear is spreading like wildfire on Wall Street, and on Friday we witnessed yet another wave of panic selling. The Dow Jones Industrial Average fell another 559 points, closing at 24,389. Previously I had warned that once we solidly broke through 25,000 that it could trigger an avalanche of panic selling, and that is precisely what has happened. The Dow is now down more than 9 percent from the peak in early October, but the S&P 500 is doing even worse. The S&P 500 is now down 10.2 percent from the September peak, and that means that it is officially in correction territory. It has now been two solid months, and the sell-off on Wall Street shows no signs of abating.

And for certain sectors, the carnage that has been unfolding can definitely be called a “crash”. FANG stocks are now down 24 percent from the peak, and global systemically important banks have now fallen a whopping 33 percent from the 52-week high.

Ladies and gentlemen, the big banks are officially in trouble once again, and it is going to be a wild ride moving forward. And the way that things wrapped up for the markets on Friday has many wondering what Monday will bring. According to one key index, investors were dumping stocks so rapidly on the Nasdaq on Friday afternoon that it was officially considered to be “panic-like activity”: "Selling on the Nasdaq reached panic-like proportions Friday afternoon with less than an hour left in regular trade, as the exchange’s Arms index rose. The Arms is a volume weighted breadth measure, that tends to rise when the broader market falls, as the intensity of the selling in declining stocks is usually greater than the intensity of buying in rising stocks. Levels above 2.000 are considered panic-like activity. The Nasdaq Composite Index COMP, -3.05% was off 3% at 6,969. The number of advancing stocks compared against decliners was at 2,108 to 787, pushing the Arms index on the exchange to 2.068.

Thanks to Friday’s nightmare, this week ended up being the worst week for U.S. stocks since March. This wasn’t supposed to happen in December. According to the experts, we were due for a nice “Santa Claus rally” and everybody was supposed to go home for the holidays really happy. But that hasn’t happened. Instead, the markets are coming apart like a 20 dollar suit.

And guess who CNN is blaming for the stock market decline? I’ll give you just one guess, and his name rhymes with “Gump”. The following comes from CNN: "From “Tariff Man” tweets and inverting yield curves to conflicting messages from Trump advisers and the arrest of a Chinese executive, there is no shortage of headlines keeping investors awake at night."

They don’t want to admit that the same thing would be happening if Hillary Clinton was in the White House. This isn’t about politics. This is about a financial system that has always been destined to collapse.

Meanwhile, the stunning implosion of the cryptocurrency bubble continues to accelerate. At this point, the price of Bitcoin has now fallen more than 80 percent from where it was a year ago: "In December 2017, bitcoin prices hit a record high of just under $20,000. Flash forward to December 2018 and bitcoin is now trading a little below $3,400. That’s a more than 80% plunge. Bitcoin is at a 15-month low."

But prices have really gotten whacked this week, falling nearly 20% in just the past five days alone. Other major cryptos such as Ripple, Ethereum and Litcoin have experienced similar crashes.

Yes, this is really happening. Bubble after bubble is bursting, and a day of reckoning for the global financial system is here.

Things are unfolding just as myself and so many others have been warning. Over the past couple of years, there has been a bubble of false hope even though none of the problems that caused the last financial crisis were ever fixed. Instead, the Federal Reserve and other global central banks simply patched things together and inflated the bubbles to a much larger degree than we had ever seen before.

Now everything is unraveling, and many of the “experts” are still in denial. I really like how Peter Schiff made this point during a recent interview: “What has happened in the last week is very, very bullish for the price of gold, and the price of gold is not catching much of a bid. I think again, the main reason for this is because nobody gets it. People still think this is a bull market. They’re not worried about the decline. They think it’s just a buying opportunity. It’s just a correction. They still think the economy is good. Even though the bond market doesn’t, even though the yield curve is inverting in the front end of the curve, people are dismissing that. They’re dismissing the housing data; they’re dismissing the build in the crude inventories. They’re not looking at any of the real data because nobody wants to believe it. Everybody still wants to believe all the hype - that this economy is great, that this economy is booming. Nobody wants to deal with the truth; because you know how grim the reality is? Because if you have to accept the fact that this economy is going into recession, then you have to accept a lot of unpleasant things that nobody wants to admit.” As always, Peter Schiff is making a lot of sense.

If you follow my work on a regular basis, than you already know that I have been highlighting the gloomy economic numbers as they have been steadily rolling out. All of the numbers tell us that economic activity is slowing down. All of the numbers tell us that we are heading into a recession (if we are not already in one). And all of the numbers tell us that another great financial crisis is now upon us.

The time for false hope is over. Now is a time to come to grips with reality, because things are going to get very tough in the months ahead."
- http://theeconomiccollapseblog.com/

Related:
"U.S. Accused Of 'A Declaration Of War' Against China As The Stock Market Teeters On The Precipice Of Disaster"
http://www.investmentwatchblog.com/u-s-accused-of-a-declaration-of-war-against-china-as-the-stock-market-teeters-on-the-precipice-of-disaster/
“'Panic-like Selling' Grips Wall Street As The Eco... (show quote)


Our story begins with Obama, the bail outs, and the 80billion dollars of monopoly money pouring into the economy each month over the past 8 years. The value of the dollar has been gradually reduced because of this. Add in the push for "green" global warming money give away and the general global instability and you have a formula for trouble. But truly, the stock market has been a fake indicator for at least 8 to 10 years now and counting.

Trumps tariff war is also contributory in that he has stopped the rape of the American economy and thus those rapists are facing harder economic times as well. Tsk. Tsk.

Reply
Dec 9, 2018 12:46:25   #
pafret Loc: Northeast
 
nwtk2007 wrote:
Our story begins with Obama, the bail outs, and the 80billion dollars of monopoly money pouring into the economy each month over the past 8 years. The value of the dollar has been gradually reduced because of this. Add in the push for "green" global warming money give away and the general global instability and you have a formula for trouble. But truly, the stock market has been a fake indicator for at least 8 to 10 years now and counting.

Trumps tariff war is also contributory in that he has stopped the rape of the American economy and thus those rapists are facing harder economic times as well. Tsk. Tsk.
Our story begins with Obama, the bail outs, and th... (show quote)


Start with Nixon and his removal of our nation from the gold standard in his effort to combat Stagflation. It has been downhill thereafter with every administration since contributing by removing protective laws and excessive military expenditures.

Reply
 
 
Dec 9, 2018 13:25:14   #
Weasel Loc: In the Great State Of Indiana!!
 
pafret wrote:
Start with Nixon and his removal of our nation from the gold standard in his effort to combat Stagflation. It has been downhill thereafter with every administration since contributing by removing protective laws and excessive military expenditures.


I don't know.
Is it panic selling, or just people cashing in on their investments?
A lot of people are making huge profits right now as they take their money.

Reply
Dec 9, 2018 13:35:58   #
nwtk2007 Loc: Texas
 
pafret wrote:
Start with Nixon and his removal of our nation from the gold standard in his effort to combat Stagflation. It has been downhill thereafter with every administration since contributing by removing protective laws and excessive military expenditures.


Yep, there's no arguing that!!

Reply
Dec 9, 2018 14:48:57   #
woodguru
 
nwtk2007 wrote:
Our story begins with Obama, the bail outs, and the 80billion dollars of monopoly money pouring into the economy each month over the past 8 years. The value of the dollar has been gradually reduced because of this. Add in the push for "green" global warming money give away and the general global instability and you have a formula for trouble. But truly, the stock market has been a fake indicator for at least 8 to 10 years now and counting.

Trumps tariff war is also contributory in that he has stopped the rape of the American economy and thus those rapists are facing harder economic times as well. Tsk. Tsk.
Our story begins with Obama, the bail outs, and th... (show quote)


The story began with bank and Wallstreet deregulation at the end of Clinton's terms, I think Clinton knew full well the time bomb he dropped into Bush's lap with deregulation that was hugely responsible for the 2007/2008 market crisis. Deregulation contributed to an escalation of money being irresponsibly leveraged by banks in wallstreet market funds as well as allowing banks to make dangerous and worthless loans.

Reply
Dec 9, 2018 14:54:17   #
woodguru
 
Weasel wrote:
I don't know.
Is it panic selling, or just people cashing in on their investments?
A lot of people are making huge profits right now as they take their money.


The market has depleted assets to where stock values have zero reference to the underlying asset values. Their value has become tied into purely over inflated stock prices.

Hedge fund managers are scrambling not to be holding funds at their ludicrously over inflated values.

This is what happens in a Ponzi scheme

The Fed will want to address government bailouts before dems take control next year.

Reply
 
 
Dec 9, 2018 15:08:49   #
Weasel Loc: In the Great State Of Indiana!!
 
woodguru wrote:
The market has depleted assets to where stock values have zero reference to the underlying asset values. Their value has become tied into purely over inflated stock prices.

Hedge fund managers are scrambling not to be holding funds at their ludicrously over inflated values.

This is what happens in a Ponzi scheme

The Fed will want to address government bailouts before dems take control next year.

I do not want to see anymore Government Bail Outs. If the market can't stand on its own then what is it worth?
I will never forget the bailout of General Motors when GM forced the Government to keep the
GMAC FINANCE CORP. secret, seperate, and out of the public view. That's where they really made their Killing.

Reply
Dec 9, 2018 15:32:27   #
vernon
 
pafret wrote:
Start with Nixon and his removal of our nation from the gold standard in his effort to combat Stagflation. It has been downhill thereafter with every administration since contributing by removing protective laws and excessive military expenditures.


If you check You will find Fdr took us off the gold standard. Nixon just let American gold float to world prices while the world price was over 200.00 and ounce the American price

was 35.oo an ounce.Nixon is responsible for the gold rush we have had since he let the price float free on the world market.

Reply
Dec 9, 2018 16:10:57   #
nwtk2007 Loc: Texas
 
woodguru wrote:
The story began with bank and Wallstreet deregulation at the end of Clinton's terms, I think Clinton knew full well the time bomb he dropped into Bush's lap with deregulation that was hugely responsible for the 2007/2008 market crisis. Deregulation contributed to an escalation of money being irresponsibly leveraged by banks in wallstreet market funds as well as allowing banks to make dangerous and worthless loans.


That's a big part of the instability for sure! Within ten years of that the average costs of commodities went up 400 to 500%, and they said we had no inflation! LOL!

Reply
Dec 9, 2018 16:48:11   #
vernon
 
woodguru wrote:
The story began with bank and Wallstreet deregulation at the end of Clinton's terms, I think Clinton knew full well the time bomb he dropped into Bush's lap with deregulation that was hugely responsible for the 2007/2008 market crisis. Deregulation contributed to an escalation of money being irresponsibly leveraged by banks in wallstreet market funds as well as allowing banks to make dangerous and worthless loans.



Clinton did a lot more than that. His first really big mistake was letting the oil producers talk him into taking the oil glut off the market. Gasoline was 87 cents a gallon at that time.Then with in months gasoline went 1.50 a gallon. The second bad move was when he allowed big oil to start merging that was an absolute disaster ,that reduced competition by 50% and the rest is history.
Now the banks had several things go to pot because of Clinton. Of course the community reinvestment act from Carter is what put Clinton in the drivers seat with the banks.they forced the banks to finance really bad loans,which put 900 small banks out of business.He also let the banks start
selling stocks and now they have been working to have the depositors cover stupid gambles that the banks make,this is thanks of barney frank and t dodd.

Reply
 
 
Dec 9, 2018 19:47:30   #
pafret Loc: Northeast
 
vernon wrote:
Clinton did a lot more than that. His first really big mistake was letting the oil producers talk him into taking the oil glut off the market. Gasoline was 87 cents a gallon at that time.Then with in months gasoline went 1.50 a gallon. The second bad move was when he allowed big oil to start merging that was an absolute disaster ,that reduced competition by 50% and the rest is history.
Now the banks had several things go to pot because of Clinton. Of course the community reinvestment act from Carter is what put Clinton in the drivers seat with the banks.they forced the banks to finance really bad loans,which put 900 small banks out of business.He also let the banks start
selling stocks and now they have been working to have the depositors cover stupid gambles that the banks make,this is thanks of barney frank and t dodd.
Clinton did a lot more than that. His first really... (show quote)


There are a lot of villains involved and you have hit on the principle characters. Sometimes it is hard to discern what was an unintended consequence and what was deliberately planned. Considering how badly we have been screwed there is little doubt in my mind that it was planned. If it was accidental at least once something should have been beneficial.

Reply
Dec 9, 2018 20:44:58   #
vernon
 
pafret wrote:
There are a lot of villains involved and you have hit on the principle characters. Sometimes it is hard to discern what was an unintended consequence and what was deliberately planned. Considering how badly we have been screwed there is little doubt in my mind that it was planned. If it was accidental at least once something should have been beneficial.



If you notice everyone that got screwed were the little guy. The big shots are always thinking of a way to get your hard earned money.The only way to stop this is to do away with the income tax.

Reply
Dec 10, 2018 07:57:19   #
Idaho
 
vernon wrote:
If you check You will find Fdr took us off the gold standard. Nixon just let American gold float to world prices while the world price was over 200.00 and ounce the American price

was 35.oo an ounce.Nixon is responsible for the gold rush we have had since he let the price float free on the world market.


I’m not quite sure you stated that right.

Roosevelt unpinned the price of gold from from the dollar, so the value of the dollar was free floating. That was really the end of the gold standard.

I’m not exactly sure what Nixon really did, other than it seems quite shady. Is there really any gold left in Ft Knox?

Reply
Dec 10, 2018 09:37:19   #
Wonttakeitanymore
 
It’s time we tell states and feds where our tax money should go!!!audit audit audit!

Reply
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