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Dot-Com Bubble 2.0 Is Bursting: Tech Stocks Are Already Down Half A Trillion Dollars Since Mid-2015

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Tech Bubble 2.0Do you remember how much stocks went down when the first dot-com bubble burst?  Well, it is happening again, and tech stocks are already down more than half a trillion dollars since the middle of 2015.  On Friday, the tech-heavy Nasdaq dropped to its lowest level in more than 15 months, and it has now fallen more than 16 percent from the peak of the market.  But of course some of the biggest names have fallen much more than that.  Netflix is down 37 percent, Yahoo is down 39 percent, LinkedIn is down 60 percent, and Twitter is down more than 70 percent.  If you go back through my previous articles, you will find that I specifically warned about Twitter again and again.  Irrational financial bubbles like this always burst eventually, and many investors that got in at the very top are now losing extraordinary amounts of money.

On Friday, tech stocks got absolutely slammed as the bursting of dot-com bubble 2.0 accelerated once again.  The following is how CNBC summarized the carnage…

The Nasdaq composite fell 3.25 percent, as Apple and the iShares Nasdaq Biotechnology ETF (IBB) dropped 2.67 percent and 3.19 percent, respectively.

Also weighing on the index were Amazon and Facebook, which closed down 6.36 percent and 5.81 percent, respectively.

LinkedIn shares also tanked 43.63 percent after posting weak guidance on their quarterly results.

Overall, LinkedIn is now down a total of 60 percent from the peak of the market.  But they are far from the only ones that have already seen their bubble burst.

Many of the biggest names in the tech world have gotten mercilessly hammered over the past six months of so.  Just look at some of the famous brands that have already lost between 20 and 40 percent of their market caps…

Yahoo (YHOO) shares are off 39%, and Netflix (NFLX), the best-performing stock in the S&P 500 last year, is now off by 37% from its 52-week high.

Likewise, Priceline.com (PCLN) is off 31% and eBay (EBAY), 22%.

But there are other very big tech companies that have seen stock collapses that completely dwarf those numbers.  Here are some more absolutely stunning statistics from USA Today

Twitter and Groupon are the biggest dogs of this boom, both off 70% from 52-week highs and well below their IPO prices.

FitBit shares have collapsed 70%, while Yelp’s valuation has shrunk by two-thirds.

Box, which has the distinction of posting quarterly net losses in excess of revenue, is down by half.

Match.com, the holding company for dating sites owned by parent Interactive Corp. that went public late last year, is down 39% from its high.

When your stock loses 70 percent of its value, that is a complete and utter collapse.

In the past, I have specifically singled out Twitter, Yelp and LinkedIn as tech stocks that were irrationally priced.

Hopefully people listened to those warnings and got out while the getting was good.

At the top of this article, I mentioned that tech stocks have already fallen in value by more than 500 billion dollars.  The financial crisis that began in the middle of last year is now greatly accelerating, and Wall Street is starting to panic.

As stocks crash, many hedge funds are being absolutely pummeled.  The following are just a few of the high profile names that are experiencing massive losses right now

Some of the biggest names to get trounced include:

►Pershing Square Capital Management, the publicly traded investment vehicle of billionaire hedgie Bill Ackman, fell 11% last month following a 20% decline last year, data from the web site shows.

►Larry Robbins’ Glenview Capital, famous for picking stocks that could benefit from Obamacare, dropped 13.65% in January following a decline of 18% last year, according to data from HSBC’s Hedge Weekly report, a copy of which was obtained by USA TODAY.

►Marcato International, a well-known activist fund run by Ackman protege Mick McGuire, fell 12.1% last month following a 9% loss last year, according to HSBC.

When you lose more than 10 percent of your money in a single month, that is not good.

And if I am right, this is just the beginning of our troubles.

And of course I am far from the only one warning that big problems are on the horizon.  In fact, analysts at Citigroup just made international headlines by warning that the global economy was now trapped in a “death spiral”

Some analysts — including those at Citi — have turned bearish on the world economy this year, following an equity rout in January and weaker economic data out of China and the U.S.

The world appears to be trapped in a circular reference death spiral,” Citi strategists led by Jonathan Stubbs said in a report on Thursday.

Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global growth)… and repeat. Ad infinitum, this would lead to Oilmageddon, a ‘significant and synchronized’ global recession and a proper modern-day equity bear market.”

Signs of a significant economic downturn are all around us, and so many of the exact same patterns that played out during the last two stock market crashes are happening again, and yet most people continue to refuse to acknowledge what is taking place.

If you are waiting for this new dot-com bubble to crash, you can stop waiting, because it has already happened.

When your stock falls by 50, 60 or 70 percent, the game is already over.

But just like 2001 and 2008, many people out there will end up being paralyzed by indecision.  Once again the mainstream media is insisting that there is no reason for panic and that everything will be just fine, and once again millions upon millions of ordinary Americans will be wiped out as the financial markets implode.

This is now the third time this has happened since the turn of the century.

How clueless have we become?  The exact same thing keeps happening to us over and over and yet we still don’t get it.

Only this time around there isn’t going to be any sort of a “recovery” afterwards.

This is essentially our “third strike”, and the years ahead are going to be extremely bitter and painful for most people.

But if you want to believe that one of these politicians is going to come along and save America, you go ahead and keep on believing that.

Most people believe what they want to believe, and the capacity that many Americans have demonstrated for self-delusion is absolutely remarkable.

  • billtheguy

    The top four banks have their money tied up in derivatives and loans to shale drillers that can’t repay the loans……..along with Dot-Com 2.0 bubble……getting bad.

  • James

    If this site is so smart, where was the warning about Valeant?

    Literally everyone knows that tech stocks with PE ratios of >100 are overvalued

    • Mike Smithy

      I distinctly recall you touting praises to Newell- Rubbermaid a year ago at $45 per share. It closed last Friday at $36 per share. If you are so smart, why couldn’t you see that it was way overpriced at the time based upon the PE ratios that I laid out for you?

      • Marty Mann

        Good one! Thank you Mike. Some people act like they know everything about everything.

      • James

        Must I remind you that I sold at $45 dollars a share.

        I sold because sales were flat.

        • Mike Smithy

          Need I remind you that I was the one who explained to you that sales were flat for the preceding 5 years. At the time you insisted that Nowell Rubbermaid stock was fairly priced at $45 per share. So was it your intention at the time to mislead others?

    • Bill G Wilminton NC

      SP2300ROFL takes care of that…….lol.

      • Rorschach

        Now his sidekick James does as well.

        • Bill G Wilminton NC

          Yes…..between SP2300ROFL and James its a race to brilliance in idiocy. .

  • James

    What about the other tech heavyweights?
    Apple, Google, Oracle, Intel, Cisco, SalesForce, Symantec, Microsoft, etc

    • Rorschach

      What about them? Is that part of your troll script?

      • James

        They are not crashing

        • Rorschach

          Right and there is no DOTCOM bubble 2.0. Go back to being dropped on the head.

  • James

    But just like 2001 and 2008, many people out there will end up being paralyzed by indecision. Once again the mainstream media is insisting that there is no reason for panic and that everything will be just fine, and once again millions upon millions of ordinary Americans will be wiped out as the financial markets implode.

    And if you had bought the dip in 2001 and 2008, you would be rich

    • Jim Clark

      Sssshhhh. Don’t confuse the tinfoil brigade with the truth. Eventually the storms pass and the sun comes out again.

    • Lorungee

      I did in 2008. Bought a car for my daughter, and paid it off a year later. I sold Ford to buy a Ford.

  • James

    When your stock falls by 50, 60 or 70 percent, the game is already over.

    Yes… but Yelp, LinkedIn, Yahoo, Netflix, and Twitter are less established blue chip tech stocks rather than speculative, dying, and unprofitable companies

  • James

    BIG NEWS.

    Google, Microsoft, Apple, Oracle, and Intel are doing fine.

    Everyone panic!!

    • Rorschach

      James you are back to trolling again.

      • James

        Are they crashing or doing fine?

        • Rorschach

          You tell me troll. Were you dropped on the head?

  • DB200

    Of course the politicians will help us. Just look at all the promises they have kept ……

  • Rhino Horns

    Hi folks… Don Pardo reminding you that your global economic meltdown is brought to you by: Central Banks….. and by….. their corrupt governments who support them. Until next time……

  • Mondobeyondo

    “Those who forget history are doomed to repeat it” – George Santanaya

    • K

      Excellent quote.

      • Mark

        Hey Special K,
        You smoking some weed today. You old farts in your 60s and 70s should not be doing that because weed has lots of carcinogens that can give you carcinoma of the lungs.

  • Steeve Girard

    No need to panic this is normal “tree growing”, as long as this new sector has not matured. It will have bursts of growth, follow by less performant branches to be cut away. It is not a sign of things to come yet.

  • Guest

    Greg Hunter just posted an interview with Gregory Mannarino. In the interview Mannarino says the DJIA will drop to 6,000 or lower. Wow!

    • RTL89

      And I believe it! As long as I’ve been following Mannarino, he’s been correct on absolutely everything – from calling the market peaks back in May of 2015, to calling the “January effect of 2016″, and now he’s calling this.

      • Guest

        He’s a smart guy. In the interview he also said 2016 is the year that precious metals take off! That’s really exciting.

    • alan

      It will reach 26,000 before 6,000. They will never let it drop that low.

      • Creepy Pedro

        They cant control it like you think.

        • fwalker000

          Keep guessing fool

          • Bill G Wilminton NC

            The FOOL is the one with eyes but cannot see…….

          • Creepy Pedro

            I already guessed you were a fool months ago.

          • Bill G Wilminton NC

            well said Pedro……..this goofball is SP2 lol.

          • Creepy Pedro

            I know who he is.

          • Bill G Wilminton NC

            SP2300ROFL
            You wear your IGNORANCE like an ID tag….what no top level financial advice today lol.
            YOU ARE THE FOOL SP2….

          • Rorschach

            The only fool is one that changes his id but still is the same fool that’s why your handle is SP2300ROFL.

        • Rhino Horns

          Indeed, because Jesus is Lord, and the appointed time of His wrath is drawing closer.

  • Guest

    I haven’t watched the Super Bowl for the past several years. It’s just a distraction from reality. And I see that Lady Gaga will be singing the national anthem at Super Bowl 50. I would not watch it for that reason alone. America is Babylon.

    • Creepy Pedro

      Lady caca

    • Daddyotis

      True. America is indeed the modern day Babylon. Prepare for judgement.

  • Guest

    Sunday night smackdown of gold and silver. Ugh!

    • Creepy Pedro

      Knew that would happen. The tribe had two days to prepare.

  • Guest

    Well, Michael, I see Thomas Ice will be at the Prophecy Summit in June. That’s interesting. He’s pre-trib, and he’s very sharp! We might convert you yet, Michael. :-)

    • Marty Mann

      I personally may not agree with everything that Michael states but I believe he is 100 percent correct on mid-trib rapture. Im not a professing christian anymore but was raised pre-trib most of my life until I began attending an AOG breakaway church that the organized Assembly Of God dis-fellowshipped from because the AOG as a whole could not accept the fact that they may have to suffer for Christ or be persecuted. Modern American christians would never be able to with-stand what many christians have had to endure at the hands of ISIS. 99.9 percent of American christians would begin begging for Allah at the request of their captors. They are in for a rude awakening when their still here at the beginning of the tribulation and have to decide whether or not to take the mark. Many will take it because they haven’t prepped with food and water because their pastors keep telling them Jesus is gonna whisk them away at the last second. Yeah I believe that lie… NOT!!! What better way for Satan to quietly decieve the masses than to convince them their God will come just in time.

      • kim

        Just because you are persecuted for your religious beliefs does not mean your religion is a valid one. It just means that people are intolerant of others and their own ideas about god or what have you.

        • Marty Mann

          Wow!!! You may be on to something. Tell me more about political correctness. It works so well for the masses doesn’t it.

      • Paul Patriot

        It’s that .1% that are armed and will gladly die in a self defense firefight that the Isis bullies have to worry about.

        Actually, your percentage estimate is too high.

        We are all going to die, whether you take the mark or not, and scripture warns of the fate of those who take the mark.

        Even if Christians alive today enter the tribulation, it will only be for the first 3.5 years….once antichrist breaks the peace treaty with Israel, is when all he’ll breaks loose.
        God promises to remove those who are saved at that time from the judgements poured upon earth, thus, those who are saved will be caught up. After tribulation, Jesus will come back with his saints to put his foot on mt. of olives.

        However, scripture also says that he will come as a thief in the night, and that we should be ready always and be looking up .

        Paul wrote to comfort one another with the message of being caught up.

        Even if pre trib is true, great persecution has come to America and will increase greatly.

        Sorry to hear you are not a professing Christian anymore. Perhaps you were a false convert and never really born again.

        You are in my thoughts and prayers.

      • Bill G Wilminton NC

        THE RAPTURE….I have done my best research, prayed about this issue, and listened to others much better versed in this area than I. Perry Stone was mid trib and says he studied this topic 27,000 hours and then revised his position to pre-trib. Chuck Missler is another absolutely brilliant analyst and he says pre-trib also.

        But for me the fact that the antichrist cannot appear till The Holy Spirit leaves the earth. The Holy Spirit lives in US so we gotta go first…..ZOOM

        Amen

        • Gay Veteran

          “…Perry Stone was mid trib and says he studied this topic 27,000 hours….”

          FOOL

          • Bill G Wilminton NC

            You study mens THONG bathing suits……get a red one…..you’ll make “The Boys” crazy.

            Only “FOOLS” go against The Word of Yahwah ( God )

          • Gay Veteran

            thong? can I borrow one from your daddy?

            Yahwah?
            try thinking for yourself

          • Bill G Wilminton NC

            No Farting Allowed on Blog….

          • Gay Veteran

            probably the most intelligent thing you have written to date

          • Bill G Wilminton NC

            ha ha lol…. now stop eating beans !

          • awb22

            you can borrow one from your buddy, you know what kind. try thinking for yourself instead of telling everyone else what to do.

      • sistersoldier

        I respectfully disagree. I am a professing Christian and I believe that saints/believers will suffer through the persecution. There are more scriptures that plainly state the church will in fact be on earth. Although we are not appointed to God’s wrath the church will be purified through the tribulation for the Bride of Christ must present herself as spotless. But never underestimate the power of God. For He is able to raise up an army at the sound of His voice! “Yet I will leave 7,000 in Israel, all the knees that have not bowed to Baal and every mouth that has not kissed him.” And He could do it again and again and He can raise one anywhere on earth or in the heavenlies.

        • Mike

          I agree a simple reading of Matthew 24-25 and Thessalonians, would naturally bring one to a prewrath position. Pre trib rapture often import Scripture to justify there weak position.

        • Gay Veteran

          “… believe that saints/believers will suffer through the persecution….”

          not much being on the receiving end this time, eh

          • sistersoldier

            You know absolutely nothing! My implication is that YES AFFIRMATIVELY I would give my life for the cause of Christ!!

            “Then I saw thrones, and the people sitting on them had been given the authority to judge. And I saw the souls of those who had been beheaded
            for their testimony about Jesus and for proclaiming the word of God. They had not worshiped the beast or his statue, nor accepted his mark on their forehead or their hands. They all came to life again, and they reigned with Christ for a thousand years.”

          • Gay Veteran

            good parrot

            now then, not like being on the receiving end THIS TIME, eh?

            dished it out, now it’s time to take it

          • sistersoldier

            You know Mr. Sodomite, I suspect that you read my posts not because you want to mock me but deep down inside you know that you are living in error. “Thou shalt not have no other gods before me” and yet you continue to serve the god of homosexuality and perversion. “Thou shalt not covet” and yet you continue to covet/lust for another mans hind parts. It is true that a sinner cannot sin but you can err to the point of judgment and die in your sins and you will be raised up to everlasting shame.

            There is a common dream among homosexuals and they are standing in judgment before God as they begin to cuss uncontrollably and swear before their Maker; the ground gives way beneath their feet and flames rise up to meet them. As they fall they are fully aware that they are encased in a tear drop from God which is His love and sorrow for your decisions to live after the ways of Satan. Sin is pleasurable for a season but the day of reckoning for you is soon approaching. Prayer does not change God it changes us and you should really seek Him while He may yet be found. This is my final communication and call to repentance concerning you.

          • Gay Veteran

            poor silly sister, keep on believing in those fairy tales.

            now why does “god” NEVER answer the prayers of amputees?
            hmmmmmmmmmmmmmmmm

            and the “god” you worship? ordered the murder of children and infants

          • sistersoldier

            You know Mr. Sodomite, I suspect that you read my posts not because you want to mock me but deep down inside you know that you are living in error. “Thou shalt not have no other gods before me” and yet you continue to serve the god of homosexuality and perversion. “Thou shalt not covet” and yet you continue to covet/lust for another mans hind parts. It is true that a sinner cannot sin but you can err to the point of judgment and die in your sins and you will be raised up to everlasting shame.

            There is a common dream among homosexuals and they are standing in judgment before God as they begin to cuss uncontrollably and swear before their Maker; the ground gives way
            beneath their feet and flames rise up to meet them. As they fall they
            are fully aware that they are encased in a tear drop from God which is His love and sorrow for your decisions to live after the ways of Satan. Sin is pleasurable for a season but the day of reckoning for you is soon approaching. Prayer does not change God it changes us and you should really seek Him while He may yet be found. This is my final communication and call to repentance concerning you.

          • Gay Veteran

            ROFLOL, you’re reduced to cutting and pasting your own comments.

          • sistersoldier

            No I wanted you to read it twice!!!!!

          • Gay Veteran

            back at cha:

            poor silly sister, keep on believing in those fairy tales.

            now why does “god” NEVER answer the prayers of amputees?
            hmmmmmmmmmmmmmmmm
            and the “god” you worship? ordered the murder of children and infants

          • sistersoldier

            Why God does not answer prayer or why does He not heal?

            1.) Right way

            God has certain conditions that must be met before our prayers can be
            answered. One of the first, is we feel our need of help from Him. Isaiah44:3 says, “I will pour water upon him that is thirsty, and floods
            upon the dry ground.” The heart must be open to the Spirit’s influence,or God’s blessing cannot be received. One cannot pour water into a cup thatis already full.

            2.) Right heart
            If we have cherished sins in our lives, and refuse to give them up, or if we are doing things we should not be doing, and are disobeying Him, we cannot expect Him to answer our prayers. He cannot answer our prayers if we have sins in our lives that are unconfessed or if we are hanging on to cherished sins. Also, if we refuse to forgive others who have wronged us, God cannot hear us.

            Why did God allow the killing of babies?

            Permissable Life Taking
            **They were a people cursed of God from their very beginning (Gen. 9:25). They were a vile people who practiced the basest forms of immorality. God described their sin vividly in these words, “I punished its iniquity, and the land vomited out its inhabitants” (Lev. 18:25). Further, the innocent people of the land were not slaughtered. The story of Sodom and Gomorrah clearly demonstrates that God would save a whole city for ten righteous people (Gen. 18:22.). In that incident, when God could not
            find ten righteous people, He took the four or five righteous ones out
            of the place so as not to destroy them with the wicked.

          • awb22

            like you

    • Mike

      Thomas ice,debated Alankurschner who is prewrath and was wasted.

  • James Dohnalek

    If you look at history
    1776. Depression
    1864. Depression
    1929. Depression
    NOW. — where is the depression to clean out society ?
    Answer. The Federal Reserve has prolonged the event of a
    Depression through quantative easing and low to zero
    and later to negative interest rates. Since 2008 to now,
    The federal reserve is not done and probably
    N. E. V. E. R. W. I. L. L. B. E. !!!!!!!’

    • Bill G Wilminton NC

      Where does The Fed go after negative interest rates….maybe to Church.

      • Powers Beyond Imagination

        More like hell.

        • Bill G Wilminton NC

          Ha ha ha ha lol….. you are good…..thanks that was a killer lol…

      • A guy from Ukraine

        I believe they are deliberately dumping all “reserve” currency just to have them replaced by One World currency to be issued by the cabal-controlled IMF. Is it all for nothing that IMF’books are still not burdened with noxious debt as is the case with FED. IMF just “incidentally” turns out to be among world’s largest gold holders. Don’t forget gold is an essential instrument to stabilize financial system and to infuse trust in the newly created currency…. Wake up, people!

        • Bill G Wilminton NC

          Thanks for the info….great points….I am going to do some research into IMF gold inventory…..

  • max gon

    Michael, very good article.

  • Pamela

    During the last debate I thought Hillary acquitted herself quite well. She will fight those big banks. Also, she will continue the ACA which has slowed the rise of healthcare costs and saved lives. It is a shame so many people despise Hillary. She is transparent, brilliant, and experienced. Her ethical standards are above reproach.
    I was very happy to see that 151,000 jobs were added in January. It is truly wonderful that the unemployment rate is down to 4.9%. If Hillary gets in I expect the unemployment rate to go down to 3%. Per the BLS report 29,000 manufacturing jobs were added and wages trended upward. This is proof positive that Federal Reserve polices have played an instrumental role in saving America’s middle class.
    Hillary 2016!

    • Bill G Wilminton NC

      Its nice to see that Michael also has comedy writers submitting posts……..this post is one of the funniest !.

      • Mike Smithy

        Yes, I love Pamela’s subtle brand of sarcasm. It’s pure comedy gold. “Hillary for Prison 2016″

        • Marty Mann

          Lol. Lets hope so. It would tickle more people pink than she thinks.

    • Powers Beyond Imagination

      Like Obama before her, many promises will be made and will be broken.
      These candidates are professional actors taking on political roles and their producers and directors are the big financial players and corporate manipulators.
      They don’t even believe what they say because they don’t have a conscience.
      Support them and they’re laughing. You’ll only be pissed after the elections – sucked in!

    • afchief

      More proof that liberalism truly is a mental disorder!!!

      February 6, 2016

      Fun with numbers: The real story behind the unemployment report

      By Rick Moran

      Read more: http://www.americanthinker. com/blog/2016/02/fun_with_numbers_the_real_story_behind_the_unemployment_report.html#ixzz3zZ7zZM1T

    • Jill

      You’re very happy that the largest increases (70 percent) were in the lowly paid service sector and the labor force participation rate is still at an all time low? You’re happy that despite a drop in worker productivity, wages rose, signalling inflation in wages?

  • alan

    Sounds like they need to start up Dot-com 3.0 bubble, some folks got rich on the last two might as well have a third. The problem is people who don’t have insider info get left out.

  • Eternal_Self

    Big Data and IoT will be DotCom 3. Tableau is down 70% from its peak

  • BeenThere

    I went thru the first dot com bubble (late 90s to 2000). If you could program, you could walk in off the street and get a corporate programming job. After 2000, firms could pick the best of the 100 or so applicants. The moral being here that soon we are going to see again and oversupply of IT people in spite of what the newspapers tell us.

  • afchief

    To Anxiety Merchants:

    Why Final Collapse May Not Be Yet

    Wilfred Hahn

    http://raptureme. com/featured/hahn/h140.html

    • df NJ

      The Rapture came and went in 2000. The rest of you are still catching up on the fact of it.

      • Bill G Wilminton NC

        df NJ says “The Rapture Came And Went in 2000″

        I believe that there are many many people.. myself included that disagree with that statement and belief…..starting with Perry Stone, Chuck Missler and The Bible.

        But that is your opinion……fine.

        • Gay Veteran

          you Christians arguing over the bible AGAIN?

          • Bill G Wilminton NC

            Who picks up the DROPPED SOAP at the Gay Men BathHouse SHOWERS……

          • Gay Veteran

            don’t you know? your dad picks it up

          • Bill G Wilminton NC

            The guy with his back to the wall…..

          • awb22

            again with the daddy fixation, what is it with you?

          • awb22

            you rejecting truth again?

      • Gay Veteran

        ROFLOL

        • awb22

          sodomite

  • XSANDIEGOCA

    I have a suspicion things will be held together by hook and/or by crook until the Magic Minority leaves office. Apres Lui, le Deluge.

  • fwalker000

    :)

    • Bill G Wilminton NC

      Hey SP2 no financial babble today…….

      • Rorschach

        He just couldn’t think of anything as his pre-approved script was being prepared for him.

        • Bill G Wilminton NC

          YUP………..

  • HeyAHuman

    As expected: If the Powers That Be are to increase their control, they must consolidate power by erasing any remaining semblance of middle class, while whittling away at the upper class, until it’s just the few rulers, the peons, and the fading memories of wealth. Next step: Turbocharged immigration.

  • DJohn1

    Humpty Dumpty all over again.
    The economic system currently being practiced is one of debt.
    China also fell hook, line and sinker for this system.
    Now we all pay the price for this folly.
    The government will continue to support a system of debt.
    They have gotten away with it since the 30s.
    The idea being that we spend, spend, and spend again with no regards to the accounting that comes down the road.
    Under this system, it is virtually impossible for the average person to win.
    Even if you save money, you lose.
    Because the very currency you save in loses value daily to the counterfeiting of money by the government.
    You may say “I own no stocks, why should I worry?”
    But you really do own stocks without realizing it. Your return in savings is at least 10% less than the money you attempted to save with.
    Every pension out there, every insurance policy out there, it all depends on investing your money in stocks so that when the money to be paid out comes due it is there plus interest for them to fulfill their contracts with you.
    If it all goes down the tubes then your pension goes with it.
    Europe is even attempting to steal the savings of honest people!
    The huge losses are a reflection of what is happening right now to all of us. Because when they took away the money we would normally spend in retail goods to pay insurance companies bigger premiums in health insurance using deductables ten times worse than we had before government interference, then it comes back at them ten fold.
    The derivative market is about ready to fold and the rich people out there know it.
    Again the derivative market is dependent on average people paying their mortgages with money from the wages they earn.
    So sell them all to China. Sell the people to China and places like it. Do away with the income of the average middle class person.
    Then watch the house of cards so carefully built fold into a pile on the table. One by one, the things holding the derivative market together are being removed and the cards will come tumbling down.
    It is happening. Look to the Republican and Democrat candidates.
    Which one can actually pull a rabbit out of hat and save the system?
    Because so far I see no one capable of doing so.

  • Richard O. Mann

    Seeing more and more entries around the net by people in the know about the economy, and all are starting to sing the same song. If you are in, get out. If you are out, stay out. The world economy is tanking and there is no one who has the answer on how to turn it around. Sounds more and more Biblical for the upcoming judgment on this world.

  • Mike

    My question is if these stocks are down so much across the board, why is stock markets only of 2000 points?with those loses and oil the way it is it should be 10,000 buy now?

  • Priszilla

    There are so many useful things you can use your money for. Green Wall, Vertical Garden, LASIK, Teeth Implants, Water Cone, House Insulation, Brick Walls, burglary proof doors and windows, heat pump, solar collector, dehumidifier, water wells for Africa, Asia, Australia, Mexico and Middle East, educating women.
    If the world is becoming a more moderate and less extremist place, we all benefit.

    • Orac4Prez

      Water wells for Australia??? Boy I missed out on that! Still we did give you Rupert Murdoch to help your press…

  • The Real Farmer

    It was not just tech stocks dropping today. The entire game was off. The American people have been screwed by Obama so many times they are starting to think its normal.

  • Barry Goldwater

    In case no one ‘s noticed there’s manipulation already at work supporting this market.
    How many times have we seen huge declines of 350-400 points only to suddenly see the market reverse course and close at the 16,000 support line? That’s the line being supported , keep watching folks we’ll see this again. The powers that be are fighting mightily to prevent the market from finding it’s natural floor.

    • Jacynthia Read

      Plunge Protection Team.

      • Bill G Wilminton NC

        YUP…….

    • A guy from Ukraine

      The whole “market” is one BIG manipulation now, be it Dow Jones Propaganda index or gold and silver markets. TPTB need to keep that system propped up just a little bit longer, till shortly before the elections to have a skapegoat to put the blame on and clear the road for another “saver”. Does this look familiar? It should because this is something we witnessed back in 2008.

  • Jacynthia Read

    Baltic Dry Index down by 4 registering in at 293.

    • Bill G Wilminton NC

      Just keeps dropping………..

      • A guy from Ukraine

        It will all the way down to zero. The world economy is grinding to a halt. It’s as clear as a daylight.

        • Bill G Wilminton NC

          YUP…Slow Motion Financial Avalanche……

    • grumpyhillbilly

      This is the bigger news than a bunch of snoopers and their internet companies. The dot coms were always overvalued.

  • Orac4Prez

    ” The financial crisis that began in the middle of last year is now greatly accelerating, and Wall Street is starting to panic.” Yes, Wall St., isn’t the real economy and it just proves they don’t know anything about actually constructively making money. They are just the robber barons of old.
    For the 3rd time this century, reality is beginning to trump the Wall Street hype which drove stocks to stratospheric levels in the first place.
    But don’t worry, governments are really good at helping to bail out the financial sector. Its easy when they promise YOUR money!

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