The Dow Jones is currently down 291 points. If this continues for the next few days and Mr. Brickman is correct, we have entered the Greater Depression.
As I’m writing this, the DOW is down over 350pts.
In the linked video, Aaron states that this week, he believes that we may be looking at a 1% -- 2% drop daily. In week 2, the drop could be in 2% -- 4% range. In week 3, leading up to 10/21, it could be much greater. There will, of course, be ripple effects in the bond markets, in commodities, the banking sector, and markets and banks across the globe.
‘Big Short’ legend Michael Burry warns stocks will keep falling – and predicts many investors will suffer heavy losses
I say we in the U.S. are in COLLAPSE.
Not yet, but we’re blissfully napping on the couch in one of these apartments:
The Fed, Wall street and central banks are scrambling to make this economy appear resilient. But the truth of insolvency, overvalued shares and dishonesty is finding its way to the people of this country, and the world. The liars are fresh out out of concealment. It’s a runaway train that has run out of track.
Not sure why some still measure the stock market as any barometer of anything. In 2019, the top 10% of wage earners owned 70% off all stock value. The households in this category had an average $432,000 in stocks.
Conversely, the bottom 60% owned % of all stocks. Their $ value was an average of $15,000. The stock market is a false indicator of health or sickness of our economy.
The ones that will “suffer” are those used to insider traders like politicians that become millionaires once getting into office.
Seems they’re talking banking failures and complete economic collapse as well.
We’ll all have negative impacts. Not to mention pensions and 401k’s.
Wait til the bail ins.
forgot the “7”, 7% of all stock value for the bottom 60%.
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