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What In The World Just Happened To The New York Stock Exchange?

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New York Stock Exchange - Public DomainDo you believe that the New York Stock Exchange shut down because of a “technical glitch” on Wednesday?  At 11:32 AM on Wednesday morning, trading on the New York Stock Exchange was halted due to “internal technical issues”, and it did not resume until 3:10 PM.  Officials insist that there is no evidence that a cyberattack caused the technical problems even though hactivists had hinted that something may happen the night before.  Adding to the suspicion is the fact that United Airlines and the Wall Street Journal also experienced very serious “technical glitches” on Wednesday.  Others found it very curious that trading on the NYSE was halted just after Chinese stocks had absolutely plummeted the night before.  In fact, Hong Kong’s Hang Seng Index experienced the largest one day decline that we have witnessed since November 2008.  So is there more going on here than meets the eye?

Overall, the Dow was down 261 points on Wednesday, and the Dow and the S&P 500 both closed below their 200 day moving averages.  Iron ore had its biggest daily price drop ever, and the price of oil continued to decline.  But it was the stunning shut down of the New York Stock Exchange that made headlines all over the world

The New York Stock Exchange, United Airlines and the Wall Street Journal have all fallen victim to a series of massive technical glitches within hours of each other.

NYSE halted all trading for ‘technical reasons’ at 11:32am and only reopened at 3:10pm – but says the problem is an internal one and not the result of a cyberattack.

It comes as tens of thousands of United Airlines passengers were stranded at U.S. airports on Wednesday morning after all of the carrier’s flights were grounded nationwide due to a computer system glitch.

The Wall Street Journal was also left unable to publish after its systems came under attack and has been forced to switch to an alternative site design.

In response to the shut down, the following photo began circulating on Twitter…

But was it really just a “technical glitch”?

Of course they probably would never admit it publicly if it was a cyberattack.  We live at a time when the authorities are much more concerned with keeping everyone calm than they are about telling us the truth.  So in the end all we can really do is speculate about what really happened.

But what we do know is that the stock market crash in China got even worse the night before this shutdown.  The Shanghai Composite Index and the Hang Seng Index both declined by almost six percent overnight.  Overall, the Shanghai Composite Index is now down by more than 30 percent in less than a month, and the Chinese version of the NASDAQ is down by more than 40 percent

In just three weeks, stocks listed on mainland China’s most prominent exchange have fallen by more than 30% from their seven-year highs. The even more speculative ChiNext Index has lost 42% of its value over the 21 days.

Government regulators have now banned, for six months, Chinese executives from selling stock in their own companies. This is only one of a number moves made by panicked officials.

At this point, trading for approximately 45 percent of all stocks on the Shanghai and Shenzhen exchanges has been suspended.  So as a result the selling has bled over to the Hang Seng Index in Hong Kong, and this has caused tremendous chaos

Hong Kong’s benchmark stock gauge plunged the most since the global financial crisis as an equity rout in mainland China rippled across Asia.

The Hang Seng Index fell 5.8 percent to 23,516.56 at the close today, the biggest drop since November 2008, after slumping as much as 8.6 percent.

Even though the Chinese have been trying all sorts of crazy things to stop the crash, nothing has worked.  Instead, the selling restrictions have only seemed to fuel the panic even more…

Investors are disappointed and afraid that the Chinese policy makers lost control of the market,” said Mari Oshidari, a Hong Kong-based strategist at Okasan Securities Group Inc. “With no end in sight to the plunge, sentiment has turned cold. With liquidity drying up in the mainland, the Hong Kong market is being sold instead –- the only thing it can do is just quietly take the storm.”

Meanwhile, things over in Europe have become more ominous as well.  As I wrote about yesterday, EU officials have declared this week to be “the final deadline” for making a deal with Greece.  On Wednesday, Greece applied for a new three year emergency loan, and European officials have said that they will consider it

A race to save Greece from bankruptcy and keep it in the euro gathered pace on Wednesday when Athens formally applied for a three-year loan and European authorities launched an accelerated review of the request.

Greek Prime Minister Alexis Tsipras called in a speech to the European Parliament for a fair deal, acknowledging Greece’s historic responsibility for its plight, after EU leaders gave him five days to come up with convincing reforms.

The government submitted a request to the European Stability Mechanism bailout fund to lend an unspecified amount “to meet Greece’s debt obligations and to ensure stability of the financial system”. It promised to begin implementing tax and pension measures sought by creditors as early as Monday.

But there is still a tremendous amount of skepticism about whether a deal can be reached.  The Greeks want debt relief, but the Germans have completely ruled out any sort of a debt haircut.  Most of the rest of the EU nations are siding with the Germans, and unless the Greek government caves in at the last moment it appears that a “Grexit” is quite likely.

For most people, the events of 2008 have long since faded from their memories.  After years of soaring stock prices, many in the financial world have become extremely comfortable.  But as we are seeing in China, what goes up must eventually come down.

And the shut down of the New York Stock Exchange today should be a huge wake up call for all of us.  We have become extraordinarily dependent on computers and technology, and this makes us exceedingly vulnerable.  Someday, we might just experience a cyberattack that causes a tremendous amount of permanent damage that cannot be undone.

What will we do then?

Our world is becoming increasingly unstable, and events are beginning to accelerate as we enter the second half of 2015.

So what comes next?  Please feel free to share what you think by posting a comment below…

  • Andy Sloan

    Sister Madeleine Pourcain who died a Poor Clare in 1843 foresaw “Confusion, Confusion, even among the priests”.

    Sister Madeleine also foresaw a “commercial crisis which would see the whole world bankrupt”.

    • Gay Veteran

      Sister Madeline was high

      • Luke

        demon..

        • Gay Veteran

          yes, she could have been a demon

    • Luke

      how come he didn’t say anything about the PRIESTLY PERVERTS?

      • Gay Veteran

        LOL

  • Orange Jean

    Michael, First thing I thought of when I heard this news was you and wondering if you’d post a new article. You do not disappoint!

    Personally, I am deeply suspicious of what happened today. It sounds way too much like the cyber attacks that have happened to Federal employees lately (me being one of the 32+ million who have had their identity compromised… at least twice this year, firsts with my health insurance and now the big one.

    • Luke

      My SS# and(?) was stolen 2 years ago from my Contractor job in Korea..The gov offered me a jar oh shi* as to calm me..

      • Orange Jean

        Sorry to hear about that Luke. Have you had any problems with that yet?

  • kfilly

    This was probably just a government false flag attack. That way the government can come to protect the people with the E-Patriot Act. Nothing to see sheeple. The further erosion of your liberty is for your protection.

  • Cal Wayback

    Jesus is on the move. Daniel’s 70th week is about to begin. The church (born again believers are gone) and economic and political chaos ensue. This year the last Masters, KY Derby, Preakness, Belmont Stakes (Triple Crown Winner), US Open, etc. See you in heaven.

    • Luke

      see you in Walfart–ammo on sale today!

    • wnddll

      What happens if economic and political chaos begins (begins?) and you’re still here? Will you still believe? Not sure what you were going for in your last sentence. What do the “Masters, Triple Crown, US Open, etc.” have to do with anything?

  • Cooter Bug

    Looks like all you in the Global Economic Crash Conspiracy Theory Crowd are being vindicated by these unfolding Global Economic Crash Facts ?

    • http://karmaeconomics.blogspot.com/ lavista4u

      Yes. Thank You. We “Conspiracy Theorist” “Crazy Nutters” “Moms basement dwellers” have seen this coming and told you saw line.

      However, This will get far more crazy than even a crazy conspiracy nutter living in moms basement can even tell and I’m one of them.

      All the data’s, perception, analysis, third eye sensing, remote viewing is simply off the charts.

      I’m sorry, I can only go this far, Even I cannot predict what will happen after December 18th..Its too Dark

    • Jerry C

      Yeah, we’re the ones who pulled our money out of the stock market BEFORE it tanked in 2008; saving a minimum of 30% on our investments. Looks like we all here have a better grasp on what’s going on.

  • Tim

    Man, it’s good to be back. I recently moved to a new home, and I didn’t have internet service for about a week. I think I was experiencing withdrawal from not being able to read Michael’s articles. At the rate at which he writes them, one can get quite behind in just a week’s time! :-)

    • FortuneSeek3rz

      You’ll be happy to know that the U.S. economy did not collapse in the last week. Neither did the U.S. dollar. In fact, there has never been a better time to be alive in America.

      • Gay Veteran

        unless you’re a member of our massive number of unemployed

        • FortuneSeek3rz

          In which case living in America is still a bonus relative to unemployment in other countries.

          • Gay Veteran

            oh yes, our unemployed are such lucky duckies

          • Luke

            oh i’m so tickled pink I just puked..

      • Tim

        the U.S. economy has been collapsing for many years now.

      • http://karmaeconomics.blogspot.com/ lavista4u

        You forgot to add Barely Alive

    • Mike Smithy

      Welcome back Tim.

  • Cal Wayback

    Also the last Pope and President.

    • Luke

      demons

  • MIchael in Chicago

    You would think not being able to sell your life savings would motivate thousands or hundreds of thousands to riot. At the very least we have clearly seen how government getting involved in the market is counter productive.

  • K

    You ask what is next? Watch the PM’s. Silver in particular, is being driven down. Yet at the same time the availability of physical silver seems to be drying up a bit. Some companies showing delays in filling orders, for the first time in quite a while.

    • FortuneSeek3rz

      The dollar is simply too strong to allow a rally in commodities. It will have to get back down below the 90 level before gold or silver sees sustained moves higher.

    • Gay Veteran

      U.S. Mint stopped selling silver eagles due to overwhelming demand

    • K

      Both of you are correct, as far as minor factors go. The big picture seems to be paper silver is being dumped on the market in fairly large amounts. But here is the odd thing. The proceeds seem to be going towards purchasing physical silver. Normally there is little interest in physical silver, by the big boys. Except under two circumstances. Someone is stocking up for a shortage. Or there is about to be a large downturn in the economy. In this case, I think it is a little of both.

  • Dave

    A lot of glitches lately. Must be the season of the glitch……

    • watchmanonthetower

      Oh, a Donovan reference! It’s about time. Jimmy Page on guitar on that tune…September 1966.

      …oh, Lord, you weren’t thinking of Nicholas Cage, were you?

  • FortuneSeek3rz

    What comes next is business as usual. While the media loves to blast headlines about stock market chaos the sun will come up tomorrow just like it did this morning. There’s no reason to be scared of nervous.

    • http://karmaeconomics.blogspot.com/ lavista4u

      No. That’s reverse psy-op. This time, since we already know sun will come up, they are going full throttle to screw us.

      This time its going to be worse than the craziest “conspiracy theorist” sitting on moms basement ever told you..

      Even “Conspiracy Theorist” are taking these events lightly

  • GetReal4U2

    A “glitch”?
    hmmmmmmmmm

    • XSANDIEGOCA

      Indeed.

    • Luke

      lies

  • YH

    Technical glitch excuse is bogus IMO. I believe the shut down was done to prevent a runaway market selloff IMO. China is melting down right before our eyes. It’s not hard to see how the China contagion could easily spread to Wall Street.

    • GetReal4U2

      agreed…

      • http://karmaeconomics.blogspot.com/ lavista4u

        Wait till they blame “North Korea” or Iran…Which one you betting on…I pick North Korea lol

        • Luke

          Seoul South Korea did it..

    • FortuneSeek3rz

      Investment banks and hedge funds make enormous amounts of money by shorting stocks. A decline in market value is not a parallel to declining profits.

      • wakeuptheworld

        Until the USA controle short selling by computers and hedge funds things will get worse.

    • AvidReader

      But what about the Anonymous hint: “Wonder if tomorrow is going to be bad for Wall Street…. we can only hope.”?

      • http://karmaeconomics.blogspot.com/ lavista4u

        Anonymous is CIA

        • Plextt .

          I’m finally beginning to believe that to be very likely. I am curious as to why you believe that anonymous is the CIA, or something of the like?

        • wakeuptheworld

          The CIA wish the ran Anonymous

    • Mike Smithy

      Your theory is very plausible. It is conceivable that a large hedge fund was in the process of dumping a massive amount of stawk and the circuit breaker feature kicked in. Members of the Fed then contacted the hedge fund managers and threatened them to reconsider or else they might have an unfortunate accident with a nail gun. Once the hedge fund managers were sufficiently persuaded, the sell orders were cancelled.

      • YH

        Mike….your theory is entirely possible. agreed.

      • Burt Year 2015

        Their goes the plastic Yugga Cups County Cups and People Cups. Tuper-Ware is going bankrupt.

        • Mike Smithy

          What is your fixation about cups? Who gives a crap about cups? You have been fixated on cups for 2 days now, give it a rest.

          • ter ber

            Lol. Thank you we needed a laugh in this simmering chaos.

          • DANA

            Probably someone who has stock in Tupperware.

          • CharlesH

            The Graduate: “Plastics – buy plastics – it’s the wave of the future!”

        • SunnyFlaSnotress

          Burt is making this up. Tupperware isn’t going bankrupt.. not that I wish they wouldn’t.

      • XSANDIEGOCA

        You are not alone.

      • Rick

        That sounds so believable I could almost think you are on the inside with them… Great analysis, and I bet when TSHTF you won’t be far off.

        • Mike Smithy

          It would make for an interesting movie plot. Huh.

    • jaxon64

      I also thought this–if China can cause even a little uncertainty in the US markets then maybe it could slow by the smallest trickle, the cascade of losses in Shanghai. Also worth noting was the United Airlines, WSJ and Norcom also were “glitched”
      I’m confused to no end by the markets currently–shouldn’t the US markets be booming to record highs right now since China, India and Europe are dropping like rocks and the US dollar and markets appear to be the safest of havens?
      Also, how can we have record physical silver sales, JP Morgan buying a million oz’s per month, the US Mint announcing potential suspension of the Silver Eagle bullion coins because of limited supplies to fulfill orders–yet the COMEX saw silver drop like a rock and now at $15 is below production costs?
      German and French markets actually went up today as impending stares investors in the face from the fallout from a Greek default—
      Buy physical holdings –food, plywood, hygiene products, mason jars and lids, hand tools etc–these are things that will only get more expensive and you are always gonna need them. This is the best bet against inflation, unrest or disruption of services.

      • YH

        jaxon64….excellent points. Weird doesn’t even scratch the surface to describe the events of the last 2 weeks. Something epic seems to be happening right in front of us, and the media is totally out to lunch.

        • Burt Year 2015

          This the month of July Pot not July anymore. August Poop and Sepeths are coming.

          • rmc9

            …drugs…

      • SunnyFlaSnotress

        “Buy physical holdings –food, plywood, hygiene products, mason jars and lids, hand tools etc–these are things that will only get more expensive”
        Don’t be too sure about that. I can buy name brand soups at Dollar Tree now.
        If the Chinese economy is in a bind, they may lower export costs. Oil has gone down again, too.

      • wakeuptheworld

        there is always a rise in the stock market and the dollar, and with bond falling it will get much more oversold, Financial crash not before 2017/2018 Cyber attacks much more likely from China , North Korea, Iran, ISIS, and Russia -Hackers are selling programs for $ 400000 to anyone now.

    • Burt Year 2015

      The Rich Fat Cats and the Devil Monster are A bunch of assholes.

    • XSANDIEGOCA

      Correct.

    • El mico

      Agree.

  • AvidReader

    Of course they will never admit it was a cyber attack. That would come down to acknowledging your own vulnerability and defeat. This is fatal in a war, as cyber attacks are already seen nowadays.

    • Luke

      all fake

  • Alwaystomorrow

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

    Published 6/25/2015
    177 days until 12/31/2015.

    For fun, lets do a count down every day until the end of 2015 and see just what happens.

    • loser

      Git a life

      • Suzanne

        You “git” one

    • loser

      Git a life. Every time you post the same thing so will I

      • Plextt .

        That is something that a psychologically weak person would do. Thirty to one says that you are, for whatever reason, afraid that he is correct.

    • jaxon64

      Local news announced a “Code Red” air quality day today and nobody reported to have dropped dead—-FBI announced heightened terrorist watch for 4th of July and no attacks—-
      Does that mean that announcing an awareness of an increased likelihood of an event is of no avail???
      One demonstrates an extremely low cognition when they either willfully or ignorantly mock which they evidence a limited understanding of.
      The world is full of warnings and heightened alerts when likelihoods of particular events increases– the object is to A) allow for preparation of said event or B) through increased knowledge and awareness that the said event may be thwarted or limited in scope. ( This is why something as silly as a red ribbon for “aids awareness” may have even the smallest validity, if it causes even a few people to think twice about using protection or to use clean needles, then the ribbons have served a purpose.)
      Sorry everyone–done feeding the troll –not that attempts at intelligent reason ever work with this type but thought I’d take a shot.

    • Burt Year 2015

      Marc Dinger Horn Cup 2015

    • Luke

      I’m counting my turds each day…

    • Patriot Alice

      6 years you mean..

    • Chris Beatty

      So the Greek crisis, and now China’s economy falling three weeks straight just means nothing? Grow up numb-nuts, and open your eyes, USA is next on the list.

  • Barry Goldwater

    I believe this so-called glitch was nothing more than an attempt to break the fever of full blown panic which was setting in. Calling it a suspension of trading adds fuel to the mounting pessimism which is spreading like wildfire. A glitch was still remotely believable for many , especially those who rely on the talking heads for news. This asset bubble is now beginning to blow.

    • XSANDIEGOCA

      My sentiments precisely.

      • none

        Another rumor, after Edward slownot gave the Chinese all of the back door keys. Our information had been downloaded. Lots? Of other sites.
        The Chinese decided to show us what they could do if they wanted to.

        • XSANDIEGOCA

          There is definitely a whole lot more here than meets the eye. Given the ease with which the Chinese come in I can believe it. It’s so easy they don’t even bother to knock.

    • Drud

      It would certainly seem so…have you noticed that these “glitches” never happen when on days when the markets are up? This alone suggests that it is NOT hackers.

    • TheCountess

      Agreed.

    • Tranqual

      Barry Goldwater…the last true Constitutional conservative nominee IMO. Everyone thinks Reagan was all that, but he grew gov and his cabinet was all CFR. Almost done with Goldwater’s autobiography. Rockefeller and Romney Sr. (Mitt 2nd gen globalist like W &J) led the establishment attack against him. Establishment would rather lose the election than let conservatives take control of the party. They own both parties anyway, so it never matters who wins.

      who can forget those immortal words…”Extremism in the defense of liberty is no vice. And moderation in the pursuit of justice is no virtue.”

      “I had little interest in streamlining gov or in making
      it more efficient, for I meant to reduce its size. I did not undertake to promote welfare, for I proposed to extend freedom. My aim was not to pass laws
      but to repeal them. It was not to inaugurate new programs but to cancel old ones that do violence to the constitution, or that have failed in their purpose, or that impose on the people an unwarranted financial burden.

      I would not attempt to discover whether legislation is
      needed before I determined whether it was constitutionally permissible. And if I were later to be attacked for neglecting any constituent’s interest, I would reply that I had been informed that their main interest was liberty and in that cause I was doing the very best I could.

      The moral framework of the constitution was my conscience. These thoughts, old and new, were my intellectual and spiritual roots. They were the basis of my political vision. The future would depend primarily on proven principles.”

  • feelsgoodtobefree

    I’m publicly declaring that I have sold all of my guns, ammo, knives and anything else that can cause harm to myself or anyone else. This is now public record. I sold it all to private individuals. I also sold all my silver. I have no cash at home either. Other potential weapons I disposed of are: pencils, pens, kitchen knives, other utensils, my truck, all my hand tools, all the rocks and sticks in my entire neighborhood, and my baseball bats. I have just scheduled surgery for next week to remove my head, both arms and both legs. I am now just a torso and no longer a threat to anyone, or anything, including myself.

    • Luke

      Resistance is futile..just don’t move..

  • smoke57

    Maybe, it just was a network glitch due to any number of reasons.

  • http://karmaeconomics.blogspot.com/ lavista4u

    Please give us “Conspiracy Theorist” the proper credit of what we said it already.

    Don’t forget us.

    Conveniently, when things happens the way, we predicted. Everybody forgets us.

    Its going to get far more worse than anything humanity has ever seen. December 18th is the cut off date.

    If you think economic crash and civil was is the end. You are mistaken, that’s just the beginning.

  • Ashley

    I have a feeling that Russia and China are testing our system.

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

      You may be right Ashley… but there is also the ISIS – Iran possibility. In both case, the people at the head are far from complete idiots. They have high education degrees, engineering, chemistry, bio-engineering, medicine, computer science… and well acquainted with Western technology…

      We should not underestimate the real willingness to destroy the Western World coming from them. Some could be complete religious crackpots fanatics, but the worst of all is fanatics with high education degrees…

      • Orange Jean

        With respects to your comments about ISIS – Iran… I agree completely!

        I don’t know if this is still the case, but back when I did environmental planning (1989-1992) almost all the water resources in southern CA were controlled by civil engineers who had immigrated from Iran, Afghanistan and Pakistan. At the time and also every time I had to contact someone about water
        resources or storm drainage issues… it was the same thing. The guy in charge was some guy
        with a heavy accent who came from one of those three countries.

        At one point I was also pretty good friends with one of these guys, an Iranian who worked for the County of Riverside. I had dated him for a few years before, when I met him in an algebra class when he first came to this country and could barely speak English. I lost track of him for a long time and thought he most likely had died in the Iran War (his dad used to work for the Shah) but when I moved to Orange County in the late 80s ran into him again. But we parted company for good when I found out he both liked and respected Ayatollah Khomeini.

      • bsroon

        ISIS is a CIA/Israel operation. They put hundreds of trucks in convoy FROM TURKEY every day. So NATO is allowing ISIS to take supplies – from NATO? to keep ISIS going in Syria – who is not controlled by the World Bank – yet.

        UN observers have video footage of ISIS soldiers, crossing Israeli borders and getting treated in Israeli field hospitals. Later they cross back into Syria and carry boxes of probably medical stuff, but who really knows?

        This is NOT some pop-up, self – maintained organization – heck, last year an ISIS and an Al Quaeda leader both rented housing in Tel Aviv!

        If ISIS is behind this krapola, it is because it is American in basis. Rich people running wars of economic empire and having NOTHING to do with terrorism.

    • Richard Chiu

      It’s the Chinese…but the catch is that the actual hacking is largely being carried out by ‘private’ citizens who’ve bought into the narrative that the Chinese market crashed because of foreign manipulation. It’s not centrally coordinated or planned, at least not yet (though the idea that the CCP is surprised by this response to their blatant lies doesn’t hold water either).

      This also means that it is going to be VERY hard to stop, as long as Chinese workers with computer/telecomm skills are suffering economically, these attacks are just going to keep escalating. And the Chinese government is not honestly committed to fixing their market, nor even allowing it to recover. They’ve invested decades and incalculable economic resources into the project of collapsing the global economy, they aren’t about to stop now. Apparently they believe that they can successfully blame ‘greedy Americans’ (and now Europeans) for everything…and it looks like they might be right.

      They’re not fooling me, but I wouldn’t bet against them fooling pretty much everyone else.

  • Paul

    I am one of the reasons America’s economy is collapsing. The reason is I have been willing to work 60+ hours a week. Thus my employer does not need to hire another additional staff. There are millions of highly qualified Americans who cannot find a job.

    I had my review today and was disgusted. Below is my review summary. Americans such as myself need to step back and take stock of what is important in life. That is God, family, and friends.

    “Overall, the quality of your work was acceptable. You also met every deadline. However, you did not exceed expectations in any performance metric. Perhaps you should go the extra mile by putting in an extra 5 to 10 hours of work in each week. That way you can initiate process improvements. In 3 months I want the following process improvement projects completed.

    Create a process to ensure cycle counts are accurate.
    Trains sales people how to code orders correctly.
    Detail process to ensure capital requests are submitted with all relevant information.
    Document procedures on how to reconcile accounts, create A/R invoices, match A/P invoices, close jobs, add fixed assets into system, balance key numbers report, create product mix report, and track monthly freight costs.
    Complete SVA report in 6 hours or less. Recall, you stated it takes 8 hours to complete SVA report.

    Finally, I want you to submit payroll on Monday instead of Tuesday. This will free up time for other projects.”

    • Al

      If your still there in a week it is way tooooo Long!

    • XSANDIEGOCA

      Use your remaining time at the firm to file for Disability. Mental strain, you know….

    • Luke

      nice story–serf

    • Jerry C

      Paul, you’re not alone. I read your post and it’s pretty darn close to my story as well. Don’t fool yourself. This is a DEPRESSION. Focus on why you have to work to get through it. My focus is my children. I do it for them. No one else. Try to keep positive and do your best, but at the end of the day, leave work behind. It’s only going to get worse & worse. On the bright side, we are still working. Life gets a lot worse when you’re unemployed. God bless you my friend. Just know there are millions like us just trying to keep our heads above water. Peace to you.

  • Mephi Stopheles

    These things always seem to “break” on the way down, not up.
    The casino is rigged. Shocking news, I know.

  • Paul

    BTW sorry for going of topic.

  • VigilanteCaregiver

    Check out a video game called Watch Dogs; same plot as what happened today.

  • Marco

    Well I did it today. I sold off all my mutual funds in my RRSP (Canadian version of a 401(k) and put them into a money market account. I’m still deciding what to do with it but in the meantime I think I’ll just keep them as cash for now. And I’m not normally one to jump to hasty decisions. I have been reading this blog for years and today is the first day that I felt strongly enough to take action, based on yesterday’s post and also from following events that have been happening around the world. China, Greecr, the rest of Europe. Now Canada is saying it’s officially in a recession. I think the markets are headed towards correction territory at the least, or collapse territory possibly.

    • algol2000

      You do not own anything until you have it in your possession AT HOME. Get your cash out NOW and convert to gold or supplies.

      • Marco

        I would but we take a heavy tax hit when we cash out our RRSPs. Like I said, in conservative in my views on this, as I don’t have a lot of confidence this will be an end times collapse. It will be secretariat im sure, but I don’t think it will be end times.

        • Jerry C

          A 20% haircut is better than 40% or more. Cut your losses now and use what little you have leftover for something tangible. “A bird in the hand is worth more than two in the bush.”

          • Marco

            If Canada’s economy draws closer to that end, I will definitely consider it. I don’t want to wait too long but I also don’t want to sound the alarm bells too early for no reason.

      • XSANDIEGOCA

        Ditto.

      • Marco

        Also, even if I did sock cash away under my mattress, what’s to stop hyperinflation from completely making all that money worthless? Hold physical gold? What if they make that illegal again?

        • algol2000

          Ti avid seizure of gold, buy jewelry. As far as cash is concerned, you can see I did not mention it in my suggestion.

          • Marco

            And if jewelry is seized?

          • algol2000

            I doubt if that will happen. Stop being afraid, you are a man. Take a leap of faith.

          • Marco

            I’ll take a more rational approach, thank you. I don’t think a leap of faith entails rushing towards the exit this soon.

    • XSANDIEGOCA

      Take a tip from the Greeks. You do not want to wait for the authorities to tell you that you are limited to a withdrawal of $67/day. Have a few months cash on hand.

      • Marco

        For sure. I have some cash sitting outside a registered account. I will re-evaluate the urgency of pulling out my investments out of the bank of Canada starts heading the way of Greece. The way I see it is we would have a bit of lead time before capital controls come into play.

        • XSANDIEGOCA

          Watching the Greek drama unfold, I was struck by what I thought was the “lead time” that was there for anyone willing to open their eyes! Surely the tip off is when the government assures everyone that things are under control and there will not be currency controls or words to that effect. That is the signal to put money in the mattress.

    • DW

      I would have to leave my company to cash mine out. Right now it will just have to ride the waves of the stock market….nothing I can do. :(

  • df NJ

    A friend of mine tells me this story about working on Wall Street. He’s in the basement and there are union electricians working in the data center. They are breaking for lunch. My friend asks if it’s okay if he hooks up a bunch of RJ-45 cables to a back plane on one of the server racks. The electrician leaving says sure no problem. My friend does some of the electrician’s job but he’s not a member of the union. My friend goes to lunch and when he comes back someone took a saws-all and just cut all the wires coming into the data center. He turns to the electrician and says, “hey what happened”. The guy replied, “I don’t know it just broke.”

    • Orange Jean

      Interesting story and definitely has the ring of truth about it. Thanks for sharing!

    • Luke

      DO IT !

  • Al

    Interesting article – I am more worried about China getting P —off and dumping all of there US treasury Bonds on the market! they are actually blaming the US for their SM problem, so I guess watch this space. We are watching financial warfare and we don’t even realise it.

  • Burt Year 2015

    I hate rich people. I can’t stand them at all. They all can die and go to hell and burn in the lake of fire. This is the very rich elite globalist I’m talking about.

    • df NJ

      Everyone suffers in life no matter how much money they have. The World is just run by Satanists. Hopefully at some point the people will wake up and demand human decency.

      • Luke

        wrong–nice try—the rich **** DON’T have any of the problems you & I have..they are IN CON..troll (think us con,,,gress)

        • df NJ

          You know nothing about rich people. They are the most depressed and psychotic. If the boredom doesn’t drive them to drink the absence parents makes them feel so isolated they become extreme agoraphobiacs. Many are adulterers and all their money does nothing to satisfy or fill the holes in their spiritual lives.

      • Luke

        yeah the 1% thieves are sure suffering–tell that to the US homeless—the Calcutta children–go away–troll

    • Balambalam

      Jealousy of other’s wealth is one thing, wanting someone dead for his wealth is akin to be lead by a murdering spirit… Do you realize that saying something the way you said it makes you deserving the same thing you wish for them?

      Personally I can not stand people who are always jealous of other’s wealth, because they, themselves, are too lazy to become as wealthy. If you could be as wealthy you would probably be the same as them…

      But yeah, it’s easier to hate and be jealous…

      • Luke

        most if NOT all of those**** are the cause of the world’s problems—stop sucking up for them..

        • Balambalam

          Luke you are an as**ole and a stupid troll.
          You – as many other more and more present on this blog (proving Michael is on the right track) – are just an hypocrite.

          Strange how much, when everything goes well, no one have nothing to say about them being so wealthy. Jealousy is still there, but no one really cares. They have their life, we have ours.

          Then suddenly, when everything goes bad, they are the one to “Kill”, “Condemn”… yeah, always the usual principle of “Let’s look for a scapegoat”

          Hypocrits

          • Luke

            like I said–STOP SUCKING UP FOR THE THIEVES AND TREASONOUS …are you on their payroll?

          • Balambalam

            What happened Luke. You did not receive your Christmas bonus last year? The big fat ugly rich took your money… poor boy. Come to mommy…

      • Luke

        This was probably just a government false flag attack. That way the government can come to protect the people with the E-Patriot Act. Nothing to see sheeple. The further erosion of your liberty is for your protection

    • Luke

      your lords AND masters..

    • df NJ

      “Let them eat cake.” Marie Antoinette

      “I was a queen, and you took away my crown; a wife, and you killed my husband; a mother, and you deprived me of my children. My blood alone remains: take it, but do not make me suffer long.” Marie Antoinette

      • SunnyFlaSnotress

        They still debate the authenticity and reference of that cake remark.

        • df NJ

          Megadeth – Symphony Of Destruction Lyrics

          You take a mortal man
          And put him in control
          Watch him become a god
          Watch people’s heads a’roll
          A’roll, a’ roll

  • XSANDIEGOCA

    My guess is the tidal wave of Sell Orders at the opening was so huge The Plunge Team panicked and hit the switch! The “glitch” explanation is simply too clever by half. We are supposed to believe an entity that has redundant systems built on redundant systems just went down? I am very skeptical.

  • XSANDIEGOCA

    A 30% drop in three weeks is not a haircut. It is a Head Removal. Michael talks of Derivatives. What Derivatives are tied to this?! One thing is for sure, China will not be buying so many of our Rubber Ducky Treasuries for awhile. Might that not have an impact? Just a little?

  • Patriot Alice

    This morning all Asia markets, European markets, and the America markets are all up. Solid performance by all Governments who have enormous powers to support and prevent The Economic Collapses from happening..

    • Luke

      all FAKE

  • Luke

    serves them right for trying to steal their kielbosi !

  • Andain

    Something was inserted into the trading platform! What comes next? A Grid takedown… what else!

  • Patriot Alice

    Like magic, this morning all Asian markets, European markets, and the American
    markets are all up. Solid performance by all Governments who have
    enormous powers to support and prevent The Economic Collapses from
    happening.. If it was up to free markets we would have so many collapses, we wouldn’t even have a stock market.

    • df NJ

      Please stop acting surprised by the outright manipulation of the markets. We do not have any free markets in the world. The market makers control all the pricing. Why is this not common knowledge after all this time is beyond me? I don’t understand. How come people trust authority and the government to such a degree? The corporations ARE the government. Try to get it through your thick heads. Democrats, Republicans, Libertarians, Communists, Anarchists, ALL MEANINGLESS!

  • Luke

    barf

  • df NJ

    Here’s the official story:

    “The outage was caused by a “configuration problem in our system that needed fixing,” NYSE president Tom Farley has told CNBC, but adds: “whether that came up as a result of an update is premature” to say.

    “We found what was wrong and we fixed what was wrong and we have no evidence whatsoever to suspect that it was external.

    “Tonight and overnight starts the investigation of what exactly we need to change. Do we need to change those protocols? Absolutely. Exactly what those changes are I’m’ not prepared to say.””

    Here’s what I think happened. The NYSE makes millions of trades. As these trades are made, the trade information is logged automatically to an offsite location for backup record keeping. This automatic update is called a “Oracle GoldenGate” bridge. Someone installed a new firewall router and did not configure the rules correctly to allow the updating of the database. As result, there was only one copy of the trades being logged. I think the policy of the NYSE is to always have two copies of all trades in case there’s an audit. So rather than live with the risk of having only one copy of the trade information they decided to stop all trading and repair the backup database bridge. Once the bridge connection is restored it takes hours for the databases to get back in sync.

    The people who install the routers know nothing about configuring the software of the router. This happens all the time.

  • Rick

    Why let a good crisis go to waste? If the administration was smart (I know, that’s a stretch), they would come out and admit this was a cyber attack. Then they could turn around and take control of all internet/ www operations just as they’d like to. This wouldn’t be much different than what they do with other false flags like Sandy Hook to take our guns…

    • df NJ

      I hate that “go to waste” comment. Effing Z ionist pigs!

  • Irish Steve

    Maybe you should do a little research on what Janet Yellen and the FED were doing this year with the Bank of England and the European Central Bank in March. They were having a simulated exercise of a massive bank failure i.e. The Bank Of America. What they were practising was in the result of a Cyber attack all systems went down and it caused catastrophe in the Financial sector what they plan on doi9ng is instead of a country Bailing Out a bank the bank would get a Bail In from deposits held. Plus since we have had a massive Cyber attack having paper statements with your deposits on there are worthless unless you can prove electronically what the bank has belong to you, you will be waving bye bye to your money. That’s why most people in the know i.e. big business and politicians and super wealthy have been buying up gold and silver and commodities instead of bonds. I would theorise that this glitch was a practice run to what is about to happen. I fear that America will bear the brunt of this and also declare martial law and use operation Jade Helm in the ensuing panic to further there plans.

    • Jerry C

      Good guess. Trial runs; always. Usually a drill is going on at the same time; oh yeah, Jade Helm 15 going on. Exactly.

  • Richard O. Mann

    Boom boom, out go the lights.

  • http://www.iplantosurvive.info drbuzzsaw

    Yea and IF you believe that, I have some land I want to sell you just 5 miles south of Key West…

  • ProclaimingGodsTruth

    We have dissed Almighty God from our public and private lives. Now we have overturned His view of marriage. This is bad!! We Americans have become a prideful and arrogant bunch that thumbs our noses at God. Our our sin bears us out; we have become naked in sinful shame.
    God’s hand of judgment could be falling on this unrepentant people once of a Godly nation. God has warned us but who is paying attention?
    Keep watch – Shemitah year, solar eclipse and super Blood Moon coming in Sept.

    • SunnyFlaSnotress

      I guess this means that none of us gets an invitation to your New Year’s Eve party.

    • df NJ

      RE: “our sin bears us out;”

      In the immortal words of Tonto in response to the Lone Ranger declaring they were surrounded by Indians, “What do you mean we Kemosabe?””

    • Gay Veteran

      “…Now we have overturned His view of marriage….”

      polygamy

  • Gregory

    This is called the Shemita….every 7 years…if there is a God then this is doing.

  • Mondobeyondo

    Interesting how the NYSE, United Airlines AND the Wall Street Journal all suffered “technical glitches” at around the same time.

    Coincidence? Maybe… or perhaps it’s somebody trying to find the “weakest link” in our cyber systems, to exploit to greater advantage at a later date.

  • salley mae

    I think the US shut it down to prevent the panic in China and Europe from spreading like it did in 2007. New day and everyone has taken a deep breath and the markets back up……. for now.

  • piccadillybabe

    I heard the NYSE was upgrading their software and some technical issue caused the glitch. If that was the case, the NYSE needs to hire people who have some serious knowledge in computer technology instead of hiring some friend of a friend who needs a job with no education and/or experience. Croneyism will be the downfall of America, putting people in critical jobs with little margin for error and rewarding failure with multi-million dollar bonuses.

  • jakartaman

    I am not a big coincidence guy!
    You can bet we will see a LOT more coincidences!

  • tacoma

    Of course, all technical glitches, hacks, cyber attacks, stolen military tech, even unexplained terror in the U.S. have been blamed on China.

    China may wish they possess such power. They look across the Pacific and note America has become one giant Trump. Surrounded by enemies it created. I think they support The Donald to become the next president.

  • wakeuptheworld

    Bubbles grow and grow until they burst, yet cyber crime by both China and the USA, make this much more likely. The Fed needs to stop fixing the gold market, or the derivative bubble will burst, At 7500% of the World’s GDP, this is a bubble hard to cope with,

  • Donald Wilson

    The world party is rapidly coming to a screeching halt. It’s just a matter of time when the U.S. sovereign debt bubble finally bursts that’s when the crying begins. For the lazy slackers who refuse to acknowledge the world is unraveling at an unprecedented rate those will be the first to cry out for help. These clowns who refuse to prepare and stockpile the necessary provisions will be on their knees begging for government handouts. They will be boarded on various forms of transpiration and sent to the nearest FEMA camp. Those who prepare stand a chance of surviving. Those who expect someone or the government to help them through these trying times will face a world of pain. The End…

  • Patriot Alice

    If they had no credibility for years, what has changed so they have credibility now? Maybe a great big LIE will make Merkel look foolish, buys the Greeks a bailout of 59 billion Euros, buys the Greeks months to plan their next move. I’d lie too to get all of those benefits for my country. MERKEL don’t trust them..

  • muldoon55 .

    God has always been in control of the rise and fall of empires. The economic collapse of the current ruling empire was long ago foretold in book of revelation.This collapse will plunge earths inhabitants into a chaos from which there will appear no rescue until an eighth kingdom will rise from the ashes seemingly through an act of God Himself.This new world governments’ goal will be to get surviving earths inhabitants to worship it and receive the mark of the wild beast thereby making themselves enemies of God,
    Gods’ Kingdom in the hands of Jesus will move into action as this eighth king will attempt to stamp out any loyal to Gods’ Kingdom.
    It is then that the warrior king Christ Jesus with his angelic army will rid this earth of all who refuse to submit to Gods’ sovereignty.
    Then and only then will the earth come to know true economic security ,
    The time is now when all should recognize that the God of Abraham will not let human governments ruin things much longer!

  • molon_labe

    Now, I will full admit that none of this will ever be proven or admitted to. But I’d be willing to bet that between Greece and China, their fancy computers picked up an algorithm, pre selected warnings were triggered and shut it down. I think “technical glitch” is going to be the new “bank holiday”.

  • bsroon

    Similar? I know of an apple orchardist in Wash State who went to the buyers at the packing houses who gave him a ridiculously low price. (if you aren’t a corporate farmer – you won’t be subsidized by our taxes of course)

    This farmer shrugged and said, “Well, i can get more for them if i sell them to some hog growers i know.” and he turned around and started walking away.

    The buyer came back with a “Wait a minute, wait a minute….”

    False price manipulations to increase corporate profits regardless of who else gets hurt. Forget about wisdom – that would mean ignoring that if the orchardist has to go out of business there won’t be apples to make a profit off of…. Nope, for the rich, intelligence, wisdom and moral restraint are unknown. They are spiritually and morally retarded.

  • lover girl

    wow

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