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We Have Already Witnessed The First 1300 Points Of The Stock Market Crash Of 2015

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New York Stock Exchange - Photo from Wikimedia CommonsWhat has been happening on Wall Street the past few days has been nothing short of stunning.  On Thursday, the Dow Jones Industrial Average plummeted 358 points.  It was the largest single day decline in a year and a half, and investors are starting to panic.  Overall, the Dow is now down more than 1300 points from the peak of the market.  Just yesterday, I wrote about all of the experts that are warning about a stock market crash in 2015, and after today I am sure that a lot more people will start jumping on the bandwagon.  In particular, tech stocks are getting absolutely hammered lately.  The Nasdaq has fallen close to 3.5% over the past two days alone, and it has dropped below its 200-day moving average.  The Russell 2000 (a small-cap stock market index) is also now trading below its 200-day moving average.  What all of this means is that the stock market crash of 2015 has already begun.  The only question left to answer at this point is how bad it will ultimately turn out to be.

When stocks were booming, tech stocks were leading the way up.

But now that the market has turned, tech stocks are starting to lead the way down

The Dow and the S&P 500 are negative for the year. The so-called “FANG” stocks – Facebook, Apple, Netflix, and Google – were some of the biggest losers, and helped send the Nasdaq more than 2% lower. Biotechs also suffered big losses; the iShares Nasdaq Biotechnology ETF fell 4% to a three-month low. The Vix, which gauges market expectations for near-term shifts in the S&P 500, surged more than 21%.

And Twitter is absolutely imploding.  It has fallen below its IPO price, and at this point it is now down 65 percent from the peak.

Of course it was inevitable that Twitter and these tech stocks would start falling eventually.  I specifically warned my readers about Twitter’s stock price nearly two years ago.  I hope people listened to what I was saying and got out in time.

This current market crash is happening in the context of a full-blown global financial meltdown.  Stock markets all over the planet are collapsing, and currencies are being devalued left and right.  The following comes from a recent piece by Wolf Richter

Hot money is already fleeing emerging markets. Higher rates in the US will drain more capital out of countries that need it the most. It will pressure emerging market currencies and further increase the likelihood of a debt crisis in countries whose governments, banks, and corporations borrow in a currency other than their own.

This scenario would be bad enough for the emerging economies. But now China has devalued the yuan to stimulate its exports and thus its economy at the expense of others. And one thing has become clear on Wednesday: these struggling economies that compete with China are going to protect their exports against Chinese encroachment.

Hence a currency war.

Two more major shots in the currency war were fired on Thursday by Kazakhstan and Vietnam

Hit by sharp declines in crude prices, the oil-producing nation of Kazakhstan introduced a freely floating exchange rate for the tenge, which subsequently lost more than a quarter of its value.

The State Bank of Vietnam (SBV) devalued the dong (VND) by 1 percent against the dollar on Wednesday—its third adjustment so far this year—and simultaneously widened the trading band to 3 percent from 2 percent previously, the second increase in six days.

A quarter of its value?

Now that is a devaluation.

In the coming days, we are likely to see even more emerging markets devalue their currencies in a global “race to the bottom”.  But this “race to the bottom” presents a great danger to financial markets.  As I have written about previously, there are 74 trillion dollars in derivatives globally that are tied to the value of currencies.  As foreign exchange rates start flying around all over the place, there are going to be financial institutions out there that are going to be losing obscene amounts of money.

I cannot say the “d word” enough.  Derivatives are going to play a starring role during this financial collapse, and so that is a word that you will want to be listening for very carefully in the weeks and months to come.

The meltdown that has already been affecting much of the rest of the planet is now starting to affect us.  And it was inevitable that it would.  I like how Clive P. Maund put it recently…

Many lesser markets around the world are toppling, but somehow the big Western markets of Europe, Japan and the US are staying aloft. If you have ever made a sand castle on the beach and watched what happened when the tide comes in, you will recall that it is the weaker outer ramparts and smaller turrets that collapse first, and the big central towers that hold out the longest. The weaker outer ramparts and smaller turrets are the Emerging Markets which are already crumbling, and it won’t be long until the big central towers – the big Western Markets, go the same way – everything is pointing to it.

The funny thing is that even though all of the signs are pointing to a nightmarish global financial crisis, the mainstream media continues to insist that everything is going to be just fine.

In fact, CNBC says that the recent dip in stock prices is a “bull indicator” and they are encouraging everyone to pour lots more money into stocks.

But of course the truth is that what financial conditions are really telling us is that stocks have much, much farther to fall.

For instance, high yield credit is starting to crash just like it did prior to the stock market crash of 2008.  Stocks and high yield credit usually tend to track one another quite closely, and so when there is a divergence that is a huge red flag.  And as this chart from Zero Hedge demonstrates, a very large divergence has developed in recent months…

HY Credit And S&P 500 - Zero Hedge

Sadly, the 358 point plunge for the Dow on Thursday was just the beginning.

Yes, there will be up days and down days, but we are now officially entering the “danger zone” as we roll into the months of September and October.

So will 2015 soon be mentioned along with the famous market crashes of 1929, 1987, 2001 and 2008?

Please feel free to share what you think by posting a comment below…

  • Alwaystomorrow

    The Economic Collapse Blog Has Issued A RED ALERT For The Last Six Months Of 2015′

    Published 6/25/2015.

    134 days until 12/31/2015.

    Lets do a count down every day until the end of 2015 and see just what happens.

    ——————————————————————————

    By Michael S, on July 31st, 2015.

    “And I kind of appreciate the countdown. It reminds people of my warning, and perhaps it will give some readers a renewed sense of urgency.”

    • AzDi

      Michael, I have been reading your site for several years. I and my family are prepared. Doesn’t matter what happens, the world is a very scary place right now. So whatever happens, financial (which i agree), or Iran, or Russia, or EMP, or whatever…. people need to prepare. And….. it is getting very late. So if your not prepared… sorry.

      • Jomine Jose

        Even if you are prepared, sorry. The extent of collapse will gargantuan and will be uncontainable. Everything will end, the human species will be extinct.

        • John Byde

          So you aren’t optimistic, then?

          • Jomine Jose

            Not at all, there is nothing to be optimistic about. People think that this will be a replay of 1929, but it is not. There is, in addition, another grave problem, population growth decline and death of manufacturing economy neither of which can be corrected.

          • DW

            I agree! Back then more people grew their own food and were tougher….nowadays people are spoiled.

          • TripWire

            Yes, there is an entire hoard that feels entitled. Now,.. end the entitlements. What do you see??? Think on that.

          • TripWire

            Times up,… answer? The purge.

          • TripWire

            If this goes super nova, we will all see things our parents have not seen, things that likely their parents have not, and only within the front line of battle might one compare. If you are far from a metropolitan area you will likely be fooled.

            Initially you will have hardships, but you may or may not see the chaos. You may assume you are okay. But make no mistake, as time goes on metro will disperse. Worse yet, you may be then truly be a soft target. Those you face may be battle tested. You may win the battle but lose the war.

          • John Byde

            Jomine, I have to agree with you – it’s all looking very bleak and most people are living in a fool’s paradise. We’re going to a place where Kim Kardashian won’t be of much use.

        • CASTIEL

          I dont believe that human race will be extinct….that scenario is far worse than Mad Max :) if the collapse provoque ww3 even so human race prevails….of course a lot of folk is not going to make it….and by the look of things we are traveling to that situation..Today I saw the news the prime minister of Greek ask for is demission and that is a serious situation….Greece could cause the effect domino in Europe…but at least we must try to prepare…But dont be that pessimist friend…some of us will prevail

          • Jomine Jose

            To survive you should find some way to produce food and keep it away from snatchers. With economic collapse comes political collapse followed by law and order collapse.

          • BraveNewWhirled

            It will be more like Waterworld, with the glaciers melted and Republicans skittering around on their Sea-Doo. Think I’ll watch that movie again.

          • Nick

            I always thought that movie was a parody of the green movement’s fantasy.

        • DW

          “For then there will be great tribulation, such as has not been since the beginning of the world until this time, no, nor ever shall be. And unless those days were shortened, no flesh would be saved; but for the elect’s sake those days will be shortened” (Matthew 24:21–22).

        • quercus454

          What a buzz kill. I’ll bet your lots of fun at a party!

    • Guest

      Here’s a rhetorical question. Why not start your own blog?
      You can add something intelligent to the conversation. Or you can continue to take cheap shots at the author. The latter choice, which I suspect you’ll choose is weak and cowardly.

      • RandPaul

        I don’t think it is a cheap shot….Yelling Fire in a theater…there had better be a fire. I think Michael is right….I agree with the warning….but I understand how many BS warnings there have been. It is tough to call a date. We shall see….If what is happening right now in the markets continues..it is game on. The question is…When do you say “You were right…or You were wrong”

        • Guest

          Fire?

          Which BS warning specifically?

          From the Red Alert article:

          “It is my contention that we are in the midst of a long-term economic collapse that has been happening for many years, that is happening as you read this article, and that will greatly accelerate over the coming months.”

          Since then stocks have taken a dive, oil crashing, currency wars starting…

          “Lets do a count down every day until the end of 2015 and see just what happens.” Is just stupid.

          • Krugg_the_Patriot

            Have you noticed that this exact same conversation happens every day? This guy is contributing more with his countdown than the people who are accusing him of making fun of the author. It looks to me like he’s just keeping track and interest in what the author has to say… doesn’t seem disrespectful to me in the least…. it’s Friday and the dow at this moment is down 300 points again… let the countdown continue!

        • Clumpner_Archives

          The Big Kahuna is yet to come…in SEPTEMBER!

        • Jim

          When the .gov goes into the mountain. Seriously, politicians don’t answer questions, whose going to hit the national awareness bell when the numbers are 30% down from beginning of the year. Silence!

      • http://erasemyboss.com Morbius Two

        Because he or she is playing both sides of the fence by writing “Lets do a count down every day until the end of 2015 and see just what happens.”

        If something awful happens, he or she can say “See I told you.. Its a fabulous thing I reminded everybody to do my count down”

        Or if nothing awful happens, he or she can say “See I told you.. Its a fabulous thing I reminded everybody to do my count down”

        I wish he or she would add something a little bit more creative and original to the conversation, however.

    • Liberty First

      Well, Alwaystomorrow, my wife and I got out of stocks in April due in large part to my analysis, similar to that of Michael’s, regarding what is coming. So we have already saved tens of thousands of dollars. Happy to be in cash. At worst, how does it hurt to sit out a year to see how things play out. Bulls make money, bears make money, but pigs get slaughtered. Get out of the market while you still can.

      • Alwaystomorrow

        I have had nothing in the stock market for a little over 3 years.

        • Dumb ol Country Boy

          I know that you are a bit of an agitator, that’s ok it’s your shtick. As far as being out of stocks that was a good move. The best way to have participated in the sham that is called a market has been indexing. Everyone who can afford some gold and or silver should be doing so now. In the near future both metals may not be available. Best of luck to all.

          • James

            If there was a collapse, gold and silver would be useless.
            Historically, simple index funds have done better than precious metal ETFs, and futures

          • son of gary2

            Gold and Silver is kind of like an insurance policy….it’s only good if you’re dead (or there’s a collapse). That’s why I have both!

          • Alwaystomorrow

      • gary hillerich

        I’d take some of that cash & buy silver..physical of course or gold..I happen to believe silver is is still the investment of the decade if not the century..[being 75-1 ratio right now vs. gold,when it in fact comes out of the earth/ground at 9-1..therefore silver should be north of $100 an oz ,with gold currently at $1150
        ..silver has been money for 5-6,000 years,will always be real money[god’s money,& honest, constitutional money] & will always have purchasing power,even in a underground or black market..our “currency” is just paper & digits..it will go the way of the doe-doe bird at some point..when that point in time is,? is impossible to predict,but I would guess within the next year or possibly sooner..you certainly don’t want to be ALL in cash if & when it does! you MUST have hard assets like gold & silver,land,copper anything that is worth something..
        paper is nearly worthless..the dollar is backed by nothing & is made from nothing..paper money is the oldest ponzi scam in the world,the American ponzi has been going on since 1913 & its going to end..very badly..just my thoughts & my 2 cents as i live & breathe this stuff that past few years..we pray for all the good & righteous people of the earth, & America..you WILL make it through this turmoil that is approaching by claiming Jesus Christ as your Lord & Savior…Jesus Christ is the way,
        the life/the light,
        & the truth.AND THE TRUTH SHALL SET YOU FREE…no one gets to the father or heaven EXCEPT THROUGH JESUS CHRIST! GODSPEED to ALL!

        • victor

          Can’t lose when we have Christ.

      • quercus454

        Paper money will be worthless. Gold, silver and lead are your best options. If you can’t afford the first two, stock up on the last along with everyday commodities.. Bartering is your friend.

    • Mike Smithy

      At what point will you concede defeat to Michael’s “Red Alert” warning? The Dow is off 1300 points from its high. In all seriousness what will it take to make you a believer? Another 2000 Points drop? Perhaps another 3000 point drop? Just curious.

      • Alwaystomorrow

        When my net worth, drops to where it is noticeable enough to make me do things differently than I do now.

        I know that is a broad answer but it is the best I can do.

        Our 401K’s are not in stock. I just checked and they are basically flat (marginally up) as they have been all year. Our cash is unchanged .
        Our property value is up 4% this year but to me that doesn’t matter. My job is strong.

        The DOW to me means very little if anything.

        Interest rates (borrowing) to me means nothing. I don’t borrow.

        I have Isolated my self as best I can which means no big gains but it also means no big losses.

        • Illegal

          In short you have done what this blog advocates – Prepare.
          You made your check list and ticked off all the items. Great!

          • Alwaystomorrow

            I think my preparing is a little different than most people here which is what gives me a different outlook on things.

            If something similar to 1987, 2001 and 2008 happens I believe I will never notice.

            On the other hand If banks take my money and close, 401-K’s disappear, and I have to rely for months on stored food and barter with gold I am in trouble.

            I am comfortable with the decisions I have made.

          • guest

            To me, planning to barter with gold and silver is foolish, God’s Word tells you that. I have been investing in tangibles, dried and canned foods, hand tools – buck saws, axes, shovels, hand pumps,hammers, nails, screws,canning supplies,etc. Shells, bullets, cartridges.
            When it goes down, gas and electricity are not going to be readily available.
            We can keep the home fire burning, eat when game is unavailable and when it is and have some to share.
            Vigilante Caregiver has offered excellent advice with every post and I have taken quite a bit of it. I have gathered as much info as I have been able to find on various subjects. I need to print them.
            Concerning your 401k’s, You do realize that the gov’t already has legislation in place to scoop those up, along with your bank accounts ?
            Imho, it is best to take care of your needs, food, clothing and shelter while the fiat still holds some value.
            When it comes down my only focus is going to be getting out of dodge and not on shock, panic, denial and the race to get staples.
            The only value gold and silver will have then is that it can be melted into bullets.
            My plan is to help as many as we can and lead as many as will to Jesus,the ONLY Way to God and the ONLY source of true security.

          • Gay Veteran

            go ask the people in Greece whether they want some gold or silver.
            The “collapse” is not going to result in a Mad Max world

        • Briarpatch

          You said, “Our cash is unchanged.” not so. It is losing purchasing power daily.
          “Our property value is up 4% this year…”. This condition is due to a real estate bubble that is being brewed, just like the last one. This also is a symptom of the loss of purchasing power of cash. It takes more worthless dollars to obtain something that hasn’t undergone any capital improvements. But, hey, it sounds like you’re got most everything else squared away.

        • James

          what is your 401k invested in?
          Bonds, forex, non-stock ETF’s?

          • Alwaystomorrow

            Merrill Lynch Bond fund WTMX1 Year to date +1.27%.

            Fidelity Bond fund MIP CL 1 Yeat to date +0.67%.

            As you know the yield is always relatively low in good or bad times. I am okay with that.

          • James

            That bond fund seems to have really low yields. You could do much better with indvidual insured non-callable municipal bonds.
            Ex
            I have it listed by order of cusip, issuer, coupon
            442403DN8 Houston Independent School District

            5% coupon
            698538BV6 Panoma Community College District
            3.625% coupon.

          • James

            I do not own these bonds nor do I plan to buy them

        • Malcolm Reynolds

          When my net worth, drops to where it is noticeable enough to make me do things differently than I do now.
          well since you claim to have nothing in the market, then you have a standard that has nothing to do with reality, now doncha.

          • Alwaystomorrow

            Watch and learn grasshopper.

      • James

        Until NBER declares recession

    • alan

      The only way we will likely be able to view this collapse is looking back on it over time. It will likely be slow and it won’t be on TV. Don’t except CNN to put up economic collapse cams at the Fed. Things will happen and no one will know why and the media won’t say. They will however report on what color underwear Caitlin is wearing.

    • Malcolm Reynolds

      Only a moron would mock someone he claims he agrees with for things you’ve only imagined he said. You’re a credit to idiots everywhere.

      Yikes, that market ain’t looking too good (for you either). What’s this, a standing ten count? Getting a little weak in the legs…

      • Alwaystomorrow

        My knees are a litte sore when I first stand but overall my legs seem fine.

        Thanks foor the concern. :-)

    • durango

      Perhaps alwaystomorrow can comment on the 530 point drop in todays Dow?

      • durango

        And give us a blow by blow description if his neighbours are eating him yet.

      • Mike Smithy

        Holy Cow 530 point drop in one day. Did Janet Yellen’s Plunge Protection Team (PPT) take the day off. Perhaps the Fed is finally out of ammo. I sense the banksters will have a somber drive to their house in the Hampton’s over the weekend. Plenty of time for them to contemplate how they will commit suicide.

        • durango

          I’d say she did send in the plunge protection team.

      • DrM

        Will these drops of Dow Jones and Nasdag alone cause a major recession or a big financial crisis?

        • Mike Smithy

          Wake me up when the Dow drops to the 5000 level. At that juncture, I may consider getting back in.

        • durango

          No. They will be the result of a collapse.
          Contrary to popular belief the collapse per se will be nobody’s fault. The problem is inherent in capitalism (and I like capitalism).
          A factory can’t make a profit by selling only to its own employees. In the same way a country can’t make a profit by selling to its own citizens. It must export. Many wars have been fought over overseas markets before.
          But what has happened now? China, especially, has stepped in a super saturated all traditional Western markets. This is at the core of the problem and this is the thing that will lead to the next world war.
          Irresponsible banks have certainly sped the process of destruction up, but even if they had behaved responsibly the problem would still remain.

      • Alwaystomorrow

        (2) 401K’s yesterday Y.T.D. combined return 1.94%. Today after close 1.99%.

        If everyone thinks that stocks are unstable and to volatile like I do, don’t be in them.

    • Daddyotis

      I dunno, Always. After today’s (Friday) rout in the markets, you might want to start spicing up that crow you’re gonna be eating and start preparing your apology to Michael. Seems like he’s had it right all along

      Good Show, Michael! Always the humble gentleman. Never needing to stoop to answering the mockers and naysayers like Always. Your analyses speak for themselves, and we’re all very lucky to have your research to benefit from. God bless!

    • guest

      Well now, with the dow down over 500 points, maybe we should start counting hours instead of days.

      • Alwaystomorrow

        For me to start another countdown would be a conflict of interest.

    • Isaac

      Thanks alwaystomorrow for your countdown. We will see if there is economic crisis or collapse.

    • whattimeisit

      Thank you Michael. The meltdown has begun. Although we will see several sucker rallies over the next several months, the overall trend will be negative. I do not even want to speculate how this will end. Although I will say that I don’t see this ending very positively.

  • Catman

    So, if Yellen comes out and says there will be no rate hike this year nor in the foreseeable future, will the markets roar back to previous highs?

    • Nemnor

      Notice that even when “the markets” roar to great heights, “the markets” valuation is NOT in tune with the real economy.

      Much of the stock market high valuation is artificial, while the decadent world-wide Capitalist economy (the real economy) continue on it’s relentless decline towards total collapse/chaos and/or (world) war.

    • tom

      When J. Yellin speaks, it’s going effect the market in the wrong way. The FED built the bubble.

  • Helen Riek

    I had a dream last night that I saw a billboard with Jesus on it wearing a crown and there was text scrolling underneath saying “I’m coming soon” and “Proclaim the gospel”.

    • victor

      One day soon, your dream will be reality.
      It will happen according to His time clock.

  • John Galltt

    If any system consumes more than it produces, then it will eventually, 100% guaranteed, go bankrupt. This is realty, mother nature. It doesn’t matter what ones stupid political and religious ideas are. This is how the universe works.

    If you were alone on a desert island, just you alone…..printing money, and unproductive behavior would be your demise if you didn’t use your brain and work effectively on things that mattered you would starve.

    Mother nature is cruel, and that is not our fault, it just is, and we have to use intellect to survive.

    Michael and these other pundits that preach doom and gloom might be right, but then again there has always been death and doom and gloom, but also good stuff at the same time. So we make the best of it.

    It is fairly obvious there are serious issues: money printing, wall street, banks, government welfare and wars, illegal immigration, 1/3 of the populace on drugs, and 1/2 the populace on the government teet.

    So as the mind is altered, it alters all, gay marriage – economic collapse, they go together…………we play humanist gods, and behave unproductively, and if we think trying to cheat mother nature will work we will find out like others before us that we will lose. Unlikely this September, but slowly, look around, it’s a freak show.

    • Marco

      You forgot to mention the 37 million heterosexual adulterers exposed by hackers on the Ashley Madison sight. Worse than gay marriage by all accounts.

      • Guest

        A lot of nervous cheating scum out there. Lol.

      • victor

        Our sins will be exposed, one way or the other.
        Also can’t hide them from God.

      • Mike Smithy

        Are you suggesting that there wasn’t any homosexual cheaters from the Ashley Madison breach? If so, I am raising the BS flag on you.

        • Marco

          Lmao do you mean to tell me that you think the homosexual population on that site is even a drop in the bucket compared to the heterosexual population?

    • Nemnor

      John Galltt, If I understand you correctly, you are saying that the (main) issue is people trying to consume more than they produce. However, the main issue facing the USA and the World is NOT what you imagine it to be.

      In fact, the real issue is Capitalism itself. The world-wide Capitalist system has became decadent because of reaching a stage of general over-production. In other words, it is becoming more and more difficult for the Capitalists to sell their products and services for a (reasonable) profit (hence the reason for the massive share/stock buy back we hear about).

      Capitalism is now no longer able to generate long-term recovery by economic means alone. Hence, the future is continuous decline towards total socioeconomic collapse/chaos and/or (world) war.

      • tom

        What are you talking about? you want communism?

      • Diamond_Jim

        Americans who believe they’re living in a Capitalist system really crack me up.

        • Cicero

          It is, hands down, one of the most hilarious things out there. That there are still Americans who believe that America is still “land of the free” and that “free enterprise” still exists. And are completely oblivious to the fact that their politicians on both sides of the divide are bought and paid for by an oligarchic class.

    • God

      There is no mother in nature

    • Roger Smith

      Although he brought bad news, I don’t think Paul Revere was “spreading doom and gloom”…..just useful and timely information. Michael is doing the same.

  • Itanimullikcuf

    They’ll rebound on Friday or Monday/Tuesday as usual I guess. Normal money casino laundry work. Up$down, Up$down, Up$down, rinse and repeat. Kicking can up the road.

  • aldownunder

    All good down here in OZ, our man Jarryd Hayne is kickin ar$e in the NFL Jennifer Anniston is happy plenty to read about the Kardashians and Caitlyn/Bruce whoever
    MSM sucks people are so oblivious about whats going on around them

    • Diamond_Jim

      Don’t forget about the new Walking Dead series!

  • watchmanonthetower

    “…the mainstream media continues to insist that everything is going to be just fine.”

    Do they really have any other choice considering the repercussions of what ‘telling it like it really is’ could create?

    Look how the Markets convulse on the mere speculation of a whisper of what Team Janet might do; now or never. China and its wobbly coin and exploding shipping ports, expensive and deadly hardware pulling into position all over Eastern Europe and 7 times 70 more vectors and variables that make for an edgy World Market.

    As illogical and unbalanced as it sounds: telling the truth here might be the worst move…

    Well, sooner or later, the final veils will fall and chaos will be unavoidable and everybody’s everything will be ruined, to quote an over-played PSA.

    Best get back to work…
    ~W

  • iop

    I’m enjoying every second of this economic collapse.

    While I was struggling to secure work, narcissistic people were always gloating, enjoying seeing my misfortunes, blaming me and saying it was always my fault for not being able to get a job, even though it wasn’t.

    Now those same people, are going to lose their jobs, their livelihoods, their homes, struggle to pay their bills and feed their familes, when this economy finally collapses.

    I am going to love every second and enjoy watching those same people suffer. No, I am not going to sympathise anyone else. These are the same people who looked down on me. Now karma is coming into play- what goes around, comes back around.

    • Alwaystomorrow

      They were wrong as well as you are wrong.

      Good to see you are not to bitter.

      • iop

        These people who going to suffer from this collapse, are getting EXACTLY what they deserve. Never, did I once do anything wrong against them. I always did everything to support them and encourage them.

        Then when I was suffering from unemployment, those same narcissitic show offs took advantage of my kindness and started to gloat and attack me.

        Now they are going to suffer, and yes, I will enjoy every second of it. It will be amazing and it will be the best form of revenge,

        • Alwaystomorrow

          I wish the best for you.

        • Flippah

          I didn’t sell out to the world, or the flesh, and have been persecuted for it since 1981.

    • Liberty First

      It may be justice, but best not to gloat. Humility is not only the path to happiness, it is a great insurance policy as well.

      • Don’t_take_things_forgranted

        We struggled too during the 2008 crash. It wasn’t until last year that we finally got on our feet and were able to get a house. We also got a lot of criticism and such from people that weren’t hurting. I don’t wish them badly because I know how it feels to be in that position. I also feel that if I were to enjoy their pain and suffering that as you say karma-what goes around, comes around. We may have already suffered but if we gloat when the ones that made fun of us suffer, it can come back around and make us suffer yet again. I try and tell my parents, my family about the coming financial collapse but no one listens to me. My mom gets irritated when I bring it up. We’re trying to prepare ourselves the best we can but know that no matter when shtf we will never be as prepared as we want to be. My grandma has told me for years about the great depression and what she went through. She told me please prepare for the worse and if the worse never comes you will still use all of the things you bought to prepare. I want to make her proud! My grandma passed away last year and I was devastated. I’m still sad she’s gone and think of her everyday, but I’m glad she’s gone to a better place and will never have to experience another great depression.

        • Don’t_take_things_forgranted

          I meant to reply to iop not you Liberty First :-)

        • Tired

          Sorry for loss. I have also talked to my parents about the depression. They stated “if you did not have a garden- you went hungry” -Mom said ” they had one pan of green beans stashed under a bed and that was it” these were hard working country folk. I cannot imagine the reaction today of our spoiled and rotten citizens and non-citizens.

    • ofer bouskila

      Iop, I agree with every word you said.
      When i talk to people about the collapse, even family members they look at me like I’m crazy.

    • Vizar

      Don’t get too happy. Watch a re-run of Mad Max or Road Warrior and realize you soon will be living there. None of us will last long.

  • cal

    Jesus Saves

    • Paul F

      AMEN!

    • Mike Smithy

      Moses Invests.

      • Mike

        Moses invested his life in God and is in the presence of Jesus who is seated at the right hand of the Father.

        • victor

          Like that Truth, Believe in that Truth, He is the Truth, Amen.

        • Reverend Draco

          Truly amazing, the amount of infantile fantasy contained in that sentence.

      • old fart

        Allah collects.

        • Robert (qslv)

          Hassan Chops!

    • df NJ

      But can he save the economy?

      • frackattackfrannie

        who do you think caused all those crashes ,,, yes thats right none other than the JC his own self ,,, look it up….

        • Ruan

          What are you talking about? Jesus had nothing to do with it. It was Godless rich elite who purposly caused all this!

        • Clumpner_Archives

          Yup, I DID look it up…He threw out the Money Changers and said,
          “Give to God that which is God’s and the government, that which
          belongs to government..”
          On the other hand, look up Jonathan Cahn on youtube who points
          out that next month, God IS about to judge this country BIG TIME!

      • Ruan

        The economic problems were caused by Godless immoral rich crooks. Politicians,bankers,corporations and so on. Jesus can save the economy but he is not going to do Anything when everyone is lazy and not caring about he world. Maybe God is allowing this for greater good to come out of it. After all the morals in this country have been devasted. Either way God is not going to move a parked car. Meaning we can’t expect God to fix everything when we do nothing!

        • Reverend Draco

          More likely is that jesus and god are doing nothing becuse they’re as imaginary as the value of a fiat currency.

      • S OJ Bryce

        You must ask the right questions.

    • Gankfest

      Obviously he doesn’t. -_-

    • Reverend Draco

      But he only gets 0.3% interest.

  • retired22

    1) gold is starting to shoot up in price,..all sorts of people are looking for somewhere to hide their wealth.
    2)With the new laws on the books derivatives will have priority in being paid when the banks start the ‘Bail ins’.Retail depositors will whistle for their money!

    • Liberty First

      Trying to decide whether to buy a huge out of the money LEAP option for GLD for January 2017. Better odds than playing VEGAS.

    • Heinrich van Rooi

      Believe me !!!!!Gold is on the way to mimick the way oil did. Medium to long term, gold to drop again…..

    • James

      1) gold is starting to shoot up in price,..all sorts of people are looking for somewhere to hide their wealth.

      The history of the price of gold disagrees

  • Kings Antiques

    Thank you Michael for the great article…..Hopefully people will wise up some.

  • Harbinger

    Perception is reality for many people and when their perception is skewed, they will not accept anything that does not align with what they want: regardless of how many times you tell them. The same can be said bout the approaching economical and financial collapse. We are on the precipice of a great collapse and we have already started to plunge into the abyss, yet many people will not accept the facts: rather they will become angery and go on the attack because it doesn’t align with what they want.

    • K2

      The problem is after this blog had began to say since the last few years that the stock market will crash, many stocks have risen. No wonder some people are still skeptical when michael says stocks will crash.

      I am not saying michael did it deliberately, he must have sincerely believed (when he said before) that stocks will go down….but at that time it didnt turn out like that. Thats why some people are taking similar predictions that stocks will crash….with a grain of salt. Plus there is a small possibility of another QE that can boost the stock market again.

      • K2

        He might be wrong again this time or maybe this time he might be right, i dont know. The stock market is one of the most difficult market to predict.

  • itscoming

    Asia markets are in free fall right now. Check the charts.

    • Mike Smithy

      I have no doubt that the Dow will be down at least 150 points at the opening bell. However, it will be interesting to see if the Plunge Protection Team (PPT) comes to the rescue for the standard 2:00 PM Friday ramp.

  • gfmucci

    The mockers (like Always Tomorrow) provide a tiny fraction, if anything except their mocking, to justify their mocking as M.S. provides on this site for the reality and consequences of a crumbling financial system. Ignoring cycles ignores realities. Blind adherance to the normalcy bias can be deadly.

    • Alwaystomorrow

      That’s one word please…..Alwaystomorrow.
      Thanks.

      • nunya

        :-)

        • Alwaystomorrow

          Glad to see a smile. Mission accomplished. :-)

  • Illegal

    There does not appear to be anyone that has a plan to fix the system after the collapse. The general population is so miss informed about the US economy and financial system. They will cling to some charismatic leader who will promise hope and change and not identify the real culprits.

    The Fed Reserve board of governors needs to be arrested. Printing paper currency and Tresury bills needs to stop. All the banks and corpoations need to repay their QE loans. A national right to work law needs to be adopted and the minimum wage abolished. The Federal Gov needs to be required to adopt a buget according to GAAP and a CAFR. A balanced budget amendment is not enough without adhearing to generaly accepted accounting principals and a annual financial report. The Fed. Gov. needs to be prohibited from having a deficit except in time of a national emergency.

    Its not enough to just plan for a collapse but you also need to plan for fixing the causes of the problem. Which was not done after 2008.

    • algol2000

      The collapse was engineered to take slaves. Do you think they care about you and I? Do you think they care about money? To the global elite, it is all about grabbing massive territory and culling the herd.You need to take responsibility for yourself. There is no nation of people, only individuals and families.

  • Mike Smithy

    Based upon the state of the real economy on Main Street and diminishing Earnings Per Share (EPS), I feel that a fair and appropriate level for the DOW is in the 8000 to 9000 range. Until it returns to that level, my cash will remain in my mattress or go to preps and precious metals (PM).

  • Bill

    Where Chinese equities trend tonight U.S. Equites will follow tomorrow. I’m afraid the rout is on, but the big news may soon become a larger (controlled) news event (by design) to change the focus.

  • Itanimullikcuf

    The Mainstream Media are just like a Orchestra on Titanic – they’ll play nice sounding tunes till the end. “Relax folks! Everything is fine”. Even when we are going down the drain/sea.

  • NARENDRA MODI KING of WORLD

    yes, Red alert on June 20, 2015 is true. Thank You Michael. May Sri NARENDRA MODI save the world

    • Alwaystomorrow

      Follow the countdown more closely please. It was the 25th of June not the 20th.

    • http://joshworth.com/dev/pixelspace/pixelspace_solarsystem.html marc

      Jesus saves

  • Chris

    Remember……….Jesus saves! The rest of us buy retail.

    • John C

      Moses invests.

      • CASTIEL

        and satan collects

        • Vizar

          And John the Baptist build one heck of a swimming pool.

  • CASTIEL

    And now every people in the planet will pay the consequences…GOD will make a clean in this planet because evil prevail in makind….And they breed like rats… their greed their lack of values…they forsaken the way of life that God teaches us and they become like a simple pathetic animals…animals that are destroying our planet and these animals must be exterminated…and that day is coming wherever you believe or not….and when this day arrives will be to late to make your amends with God hell will break loose in earth.Our duty is to use our freedom to live by a correct way, so when this day arrives i bet a lot people is going to start to pray:) so better be prepared load your AK and do always the better decision.

    • Vizar

      What’s up Castiel? How are Dean & Sam?

      • CASTIEL

        LOL…..They are in the rigth way, fighting evil 😉

  • Heinrich van Rooi

    Tom Mclelllan on Target

  • Heinrich van Rooi

    The Asian Crisis (in the 1990’s) the Emerging Markets Debt (in the 1980’s) Euro Crisis (2010 onwards), Oil Crisis and China recent meltdown, then there are Currencies War.American Collapse .MAJOR… CRISIS? So what can be possibly expect? Maybe one Hell of a DEPRESSION?No wonder analyst predicting Hell (2015 – 2020. And as Michael has said we will feel the pain for the years to come.

  • John C

    This is the greatest trading opportunity of our life time.

    • James

      Agreed.
      If the company fundamentals are solid and and the stock is down,
      then buy a lot
      ex International Paper when it was a $4

      • John C

        I meant going short with the stock market into Oct / Nov – until QE4 starts, then long – then short again when the bubble bursts.

        And gold – which will go to $2000 next year I think.

        Unfortunately, a lot of people will be devastated. But many will make vast fortunes.

        • James

          Good idea.
          To do even better hold long and short positions and execute both and different times
          Gold goes down in recessions.
          Yes, buy the stocks of commodity miners/ they tank in recessions/ fly after recessions

  • Sandbagger

    Time to call your bank and ask if they invest in derivatives. If they won’t answer no, then move your money to one that will answer no to that question! Massive bank failures on the horizon over the derivative market! Remember, your deposits are the bank’s liabilities. They will be forced to issue shares in the bank to replace your deposits. Do you want useless shares replacing your dollars?

    • Guest

      But it’s FDIC insured LOL

    • piccadillybabe

      Do you think those people at the bank know what a derivative is? We are dealing with people running financial institutions who probably struggle with first grade math. If you have a college degree, probably over qualified to work in a bank by today’s standards.

    • GoldenGirl

      All of the too-big-to-fail banks have huge exposure in derivatives. Best to keep next to nothing in the banks ~ only enough to pay your bills.

      • Mike Smithy

        Amen. My advice to everyone is close your savings accounts and only keep enough money in your checking account to pay your monthly bills. Bail-in legislation has already been ratified which defines you as an unsecured creditor to the banks. You should have cash on hand by stuffing it in your mattress. Put residual cash reserves in preps and physical Precious Metals (PM’s).

  • LIZ THE SHIZ

    In fact, CNBC says that the recent dip in stock prices is a “bull indicator” they just forgot to end that statement with SH#T

  • Richard O. Mann

    All this up and down motion, is making me sick. Well, not really. But it does give you a feeling in the pit of your gut that something is happening and the out come will not be good.

  • piccadillybabe

    As we speak, the DJIA is down another 300+ points today so far. There is not much confidence on WS today. But of course main street media tells us not to worry as unemployment is at 5.2% and our economy is fine so buy a new car and send your kid to that more expensive college. Gas and oil are cheap so maybe we can stay warm this winter and afford to commute to work providing you don’t get that pink slip.

    • DW

      At least I have a wood stove. I need to chop more wood too!

  • Rufus T Firefly

    What a great buying opportunity!

    • Mike Smithy

      Yep, assuming that you are talking about the purchase of VIX contracts.. Long live the shorts. I just dusted off my old ballcap that reads: “Dow 10,000″. I predict that it will be back in style very soon.

    • G21

      Yes, you should jump in with all you have!

  • goldminer

    Well I might be “whistling past the graveyard” But as I type the dow is down 1600 points from its May highs. PMs are fairly cheap right now but demand is crazy high. I have never seen premiums to buy silver and gold higher. Better get ready. The Feces are about to hit the rotary oscillator. Im off the grid, kikin back watching it all unravel, and Livin the dream.

    • http://www.coroflot.com/joelpeeters/portfolio Joel Peeters

      “The Feces are about to hit the rotary oscillator” – waow, I like that great way of saying the SHTF… Never think about that :-)

      • G21

        FHRO?

      • Ihateants

        Yes, I agree. It’s safer to use, you know, around the kids…..

  • K

    It seems that things are becoming fairly obvious, at this point. I find it interesting, how many think preppers are somehow foolish. How? If i put some food aside. And all I end up doing is eating it, when food prices become too high. How is this foolish? If I have first-aid supplies, and the ability to defend myself. Are such things not needed, in normal day to day life? I think some of you, have watched too much t.v. I know many preppers. None of them live in shipping containers, or in buried school busses. Truthfully they way I live, and where I live. Would be no different, if the economic forecast, was all sunshine,and rainbows.

    • greyprepper

      I’ve never understood that either. What we call “prepping” was just common sense up until about a century or so ago. Why people cannot understand the benefits of a well-stocked pantry is beyond me.

  • DW

    Better ADD 305 to that number as of 8:45 am.

  • Claudio M

    it’s been years since this blog’s been writing about a collapse but instead Wall street achieved new highs on 2015; of course i think that a sharp correction for financial markets is about to happen and it might be welcomed but i don’t see a doomsday yet…..interest rates in many economies are close to zero in order to fuel growth, if the price of commodities is going down the economy as a whole should get a benefit (unless for country high producers of commodities); what i really see that is going on is the worsening of the standard of living almost everywhere. This’s a real concern because when people are struggling for living, they might surge against whoever gorvernment. Anyway keep it up with this blog, ’cause it’s a good reading (Y)

    • Mike Smithy

      What about the trillions from derivitives that went into junk bonds to finance oil fracking and mining. With lower commodity prices the only way they can stay solvent is to try to increase production which will continue to drive down commodity prices. The vortex becomes a perpetual cycle for which they cannot escape the inevitable.

    • grumpyhillbilly

      I think you have to worry more about government going after people and their little wealth and livelihood. All the while the governments will be doing policy to keep the likes of Buffet an Soros wealthier. The stock market collapse will snowball into a greater financial collapse. All of which can be survived if it weren’t for corruption and cronyism.

  • frank1569

    ‘There’s a financial crisis every 5 to 7 years.’ – Chase CEO Dimon warned after the last one he helped create.

    “Why didn’t anyone warn us!?” – American people in 2 to 3 months.

  • Raymond Chuang

    So will the crash to DJIA 6,500 as predicted by the likes of Harry Dent happen within the next few months? I’ve read that by February of 2016 the DJIA could be as low as 3,500 as all credit markets completely freeze up.

    • Alwaystomorrow

      Who is that guy who keeps talking about having no debt?

      • G21

        What do you care? Nothing bad will ever happen, right? I mean, if it’s always tomorrow, that means Never, doesn’t it?

        • Alwaystomorrow

          You are correct.

          Tomorrow never comes, or as you said never.

  • PUP

    Pick-Your-Pocalypse…And don’t forget that 2016 ushers in Obamacare’s 12.7% tax.

  • D Boss

    actually, Jesus probably would think there’s something wrong with us for creating the stock market.
    In fact every last God in this world would think there’s something wrong with us for creating such a thing. That’s 2,000+ beings people look to for help looking at us now, shaking their heads.
    But what can we do?
    Ride the storm.

    • GoldenGirl

      Not so sure about Jesus thinking it’s wrong to have a stock market, but He did tell us not to put our faith in the world system, to which the equity markets belong.

  • Raymond Chuang

    Maybe in the end, this stock market tumult may finally force people to realize if we want economic growth that is REAL again, we must do the following:
    1. Tax laws MUST be drastically overhauled. We need a tax system that is very easy to understand, encourages savings and capital formation activity, and not become a political weapon to favor or punish any political constituency.
    2. Business regulations in general need to be drastically simplified. There are too many laws on the books that are obsolete or unneeded and should be phased out post haste.
    3. We need to reimpose the 1933 Glass-Steagall Act to protect bank assets. Remember, during the 1987 stock market crash and 1997 Asian financial crisis, the American economy did not suffer unduly because bank assets couldn’t be used to invest in the stock market with its mercurial ups and downs. That’s why during the 2008 crash, many banks had to fold because their assets collapsed from that crash.

    • Vizar

      Now here are some very good ideas!

      • Raymond Chuang

        Correct. And this is why Donald Trump is getting political traction (and Ted Cruz is not far behind)–both understand the steps I suggest are vital in getting a real economic recovery.

        • Vizar

          Totally agree. Trump is not on top for nothing. People are sick of the Powers that Be raiding our cookie jar.

  • itscoming

    I was going to write something like “get ready folks” and then I realized that most of you reading this blog are already ready. Good luck to all of you. It is a fixin’ to get ugly!

  • Richard T.

    Perhaps many had the idea that this collapse will cause the whole world to melt down or turn into an apocalyptic movie. But I think the Bible is very clear it will not be like that. I think the collapse is merely a precursor to the coming of the Anti-Christ. It is all paving the way for the coming of this Evil one. Without destorying the current world order, this new evil world order cannot come. So the real Tribulation is not coming yet. But it is definitely very close now. And with that the returning of Christ Jesus is closer, too.

    • G21

      I agree. The Bible also states that Israel must become the head of the nations, which obviously means that America must decrease.
      I just hate to see it happen like this – rolling over for liberlaism/socialism. I’d rather get beaten in a fair fight than to whimper away into Leftism.

      • Richard T.

        True, but I guess being defeated on the battlefield is just as hard to take when being defeated from the inside.

        • Mike Smithy

          It’s harder.

          • G21

            Not for me. I want to go out with my head held high, not with my tail between my legs.
            Leftism and socialism enslave.

          • Mike Smithy

            My sentiments exactly. Defeat is much harder to accept when treasonous politicians and insiders/fellow citizens sell you down the river.

      • Ihateants

        Thank you. You are the first person I have read to write this (with the exception of this writer writing it in times past). There are two kingdoms being revealed right now, the kingdom of darkness and the kingdom of light. The light shines brightest when it is darkest. Shabbat shalom.

      • victor

        agree. Israel will always be the apple of God’s eye, because of Abraham’s faith. We will be there to, in the millennium reign of Jesus.

      • Gay Veteran

        what we have is fascism (the merger of state and corporate powers)

    • Vizar

      I honestly can leave the religious speculation out of the fact our economy is over-heated, over-leveraged and running on fumes like a Great Big Fat Greek bankruptcy. The outcome will be bad but not Biblical. However, having faith in a loving and just God (not the Islamic Jihadist “Blow them Up God” – cause I need those “body parts I made in pieces for a thrill” that is) may help ease the pain.

      • victor

        The religious speculation You described was written long ago to warn us what would take place, and as a reminder that when it would come to pass, the Lord had spoken this truth.
        His word is trustworthy, and would come to pass, in the fullness of time, according to His time clock.
        As we have become much more advanced, it’s amazing to see how far we really come, and how some people have become.
        Shootings, riots, police brutality, terrorism.
        Now people are shooting in theaters.
        Things just seem to be getting a little more crazier here in the U.S.
        I’m 52, so been around a little, to witness the change.
        “Just sayin,” someone else’s quote, but like the phrase.

        • Vizar

          I’m somewhat older than you and have seen it as well. That said, I tend not to be so arrogant as to think I know anything about God, if there is or is not one, the universe and the future. Mankind has looked to the heavens for millions of years in wonder and had many dreams. We have also had many crises, wars, disasters. To believe next month the world as we know it ends is pure speculation. Once again, not arrogant enough to say these things are not possibly true but wise enough to know October, November, Christmas, etc, will arrive as usual and the world will carry on.

          The UN Agenda mentioned is nothing more than that rather ineffective body’s update of its 2015 agenda. If you take the time to actually read either document you will see it is a feel good fantasy wish list designed for sound bites.

    • victor

      I agree.
      They will be happy to receive the man of peace.
      Maybe he will be the one to create jobs as well, and a booming economy after this crash takes place.
      Then they will forget the pain of the past.

  • GoldenGirl

    Interesting update over at Armstrong Economics for those of you who follow Martin Armstrong. Not for the faint of heart, that’s for sure.

  • Алексей К.

    “A quarter of its value? Now, that’s the devaluation”. Are you kidding? I live in Ukraine. Our currency has been devaluated from 8 to 25 grivnas per dollar within just one year period with all prices and costs soaring accordingly and salaries dropping in many cases following the collapsing economy. 200% devaluation by the fascist government imposed on Ukraine by Washington. Now, THAT IS THE DEVALUATION. Will you survive this? I’m sure if USA were to face the prices rising two fold within weeks it would cause mass riots in the streets but that is not the case with Ukraine because Western MSM media kept miraculously silent about the currency carnage here. Ukrainian government will be allowed to do anything including bringing its own people to starvation as long as this government is opposed to Russia.

    • G21

      I’m sorry you are having to go through these troubles because of Barack Obama. Please believe me, there are many Americans who warned that his election would bring trouble, not only to us here, but to the rest of the world also. Liberalism/socialism has spoiled the majority of citizens in this country.
      They’re like pigs shoving to get at the trough.

      • Алексей К.

        You are mastaken, bro! Obama is no diffrenet from the others. They are all pumpets in banksters’ hands. It makes no difference what the name of the US is, no outsiders will ever be allowed into that Club. That last outsider President in the White House was piblicly assasinated in the broadlight in Dallas, TX. Guess, you now who I mean. Do you want to know why they killed him?

  • Mondobeyondo

    It is beginning…Trouble, dead ahead.

    And it’s not even September yet.
    Lord help us.

  • geo .

    see revelation 3:18 for the right advice.

    • G21

      Can’t go wrong by turning to the Word.

      • df NJ

        Sure you can. You can end up giving all your hard earned money to some shyster televangelist.

        • G21

          No, that’s a televangelist, not the Word. Can’t go wrong turning to the Word.

    • danbax

      check out the new Christian movue coming out next week just in time… the title is war room

  • df NJ

    As long as people continue to copulate the economy will be fine. One good election. One set of favoriable policies towards labor and the whole economy will turn around. But as long as the anti-Government or anti-Worker crowd is still in charge chaos will reign.

    If we collapse we will hear rhetoric like this:

    “An old English judge once said: ‘Necessitous men are not free men.’ Liberty requires opportunity to make a living – a living decent according to the standard of the time, a living which gives man not only enough to live by, but something to live for.

    For too many of us the political equality we once had won was meaningless in the face of economic inequality. A small group had concentrated into their own hands an almost complete control over other people’s property, other people’s money, other people’s labor – other people’s lives. For too many of us life was no longer free; liberty no longer real; men could no longer follow the pursuit of happiness.

    Against economic tyranny such as this, the American citizen could appeal only to the organized power of government. The collapse of 1929 showed up the despotism for what it was. The election of 1932 was the people’s mandate to end it. Under that mandate it is being ended.”

    No factories means no customers. Only increasing wages can pull us out of debt.

    • G21

      You think an anti-Government crowd is in charge?
      Dude, you’re one sick puppy.

    • CASTIEL

      What??????economy will be fine if people copulate????? if this continues in 90 years the population in mankind will be 11 billion……..how in the hell will we find enough recourses and jobs for these people???We are people not rabitts….

  • DW

    Down another 471.

    • Mike Smithy

      Burn baby burn.

      • Raymond Chuang

        Correct, especially if they follow the steps I described in another post on this comment thread.

  • Vizar

    Totally agree that we are in for the market bomb. October has historically been a month of massive market upheaval. Best re-check your “portfolio.”

    • DB200

      Sold my entire portfolio in July and August. I checked the numbers. By selling off everything I avoided a loss thus far of U$ 1650. And we haven’t seen the bottom yet …

      • Mike Smithy

        Good job.

  • http://www.twenty5twenty.net Twenty5twenty

    Hi Michael…You may need to update your title of this article…add another 465 points to the decline.
    Three weeks to go to the Shemitah.

    • Itanimullikcuf

      It’s now 531 or 3.12%. European stocks and Chinese also slumped. Who cares about Greece now?

  • rentslave

    This ain’t no Oct.19.1987.I went to the eye,ear,nose and throat doctor that day,but I thought that I really needed my eyes examined after I got home and saw what happened to the market:Down 22 per cent in one day.

    • Ihateants

      I remember that day, too. I was in my grade 12 social studies class (in Canada) when it happened. Our teacher said to remember that day because we were witnessing history in the making, that the younger generation after us would ask us what was it like living during those days. There was discussion about whether or not the Great Depression would happen again. Some of my classmates were genuinely concerned. I also remember he said that after the collapse back then, the governmens and banks put in place laws to ensure that a stock market crash that destroyed the economy as it did during the thirties would NEVER HAPPEN AGAIN. These words were etched in my teenaged brain. Even though, at the time, I couldn’t care less about anything except what was going to be on TV that night, — let alone the global economy (that would come later after a few well-deserved lessons learned in life), I do remember my gut feeling when my teacher said those words. I knew that he was wrong and that it would happen again. Just been keeping my eyes and ears open ever since.

  • G21

    A lot of people lost a lot of money today!

    • Mike Smithy

      The following is a quote from the movie: Apocalypse Now: “I love the smell of Napalm in the morning. It smells like victory”.

      • G21

        Carnage!

  • shadows_edge

    Another 500 point drop today. Good thing the stock market is closed over the weekend, i’ll be interested to see what monday brings. Any bets the gov intervines and we see a rebound? Or will we see them give up and let it burn?

    • Mike Smithy

      It is conceivable that the Fed will intervene with QE4 as Peter Schiff predicted. Perhaps the Fed is out of Ammo. Perhaps the “Pump & Dump” scheme is going as planned in an effort to steal what’s left of mom and pops 401K.

    • Bill G Wilminton NC

      I say rebound……..but not for long the tsunami is coming !

  • Annette Smith

    Well, it’s the 21st of August, as I write this…hum…Michael, what day of the Jewish Calendar is it? It is the 6th of Elul! This is the last month in their calendar….jes’ saying….wait till Monday, and the stock market might go further down.

  • Itanimullikcuf

    Global stock markets carnage continues. We’ll see what happens in next week.

  • MindMelder

    SHTF by mid September. Hope I am wrong….but I am not.

    • Maddog

      Dow down nearly 550 today. You are probably correct.

  • Barry Goldwater

    I want to say thank you Michael for your courage and outright tenacity in continuing to offer the truth and dire warnings to all who have been duped by irresponsible Central Bankers across the planet.
    The recklessness and deception that has been practiced is downright criminal in my opinion.
    I truly feel sorry for people like the older gentleman I saw dressed in work clothes getting out of his car to enter a local brokerage just a few weeks ago. His was the face of millions of Americans in recent years in desperate search of a decent yield and as I write most of them are looking at a serious haircut when they get their statements.
    Yes, the financial yappers on TV are encouraging us to buy these bargains that are now appearing throwing good money onto a raging fire. Twenty years ago I would have agreed with them but this one is different and what we see today is merely the cusp of the greatest global depression of all time.
    The entire planet is drowning in Central Bank created red ink. Somehow, lately I’ve had the sensation I might know to some degree how Captain Edward John Smith must have felt that fateful morning in 1912 as the Titanic was sinking and he instructed the band to play knowing there was nothing further to do .

  • CharlesH

    500+ pts DOWN TODAY (Friday). Doesn’t look good at all. I’ve been reading your blog for a very long time and have never questioned your honesty, research and even your recommendations. I thank you Michael.

  • autofixer

    The blue light is on and stocks are on sale. I’ll wait for the “Santa Clause Rally” then “Sell in May.”

  • Mike

    I guess it’s okay to prep abit,but when you get close to end,your dependence better rest in Christ.Whether for provisions or for your very life.If Christ chooses to keep you around that long?

  • GetReal4U2

    get ready…September approaches quickly…or…go ahead and listen to the media…remember…obummer talked about the economy being in the best shape ever in the state of the union…all government and lame stream media economic reports are complete lies…it’s all coming to a head…very soon…

  • Einar Reitz

    The Ashley Madison dump was the pin that popped the Stock Market bubble….A lot of rich people needed that story off the front page!

  • Cashabis

    Good call! As you I been on the side lines in ca$h.I will step back in, only after this coming BIG flush.Memories are short,in the 07/08 flush
    the biggest part was over quite a timeline. Oct 10/07 -Mar 5/09
    The one happening now May 19/15 -? With Oil Shale hedges running out mid Sept and other factors.The end of Sept to early November will be not market friendly! We live in interesting times.

  • WhoCaresFU

    Feminism saves. The all powerful woman sitting beside you will tell you what you need to do. Follow her advice, as she knows…

  • Alwaystomorrow

    Did someone say “countdown”?

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