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Yes, This Is A Financial Crisis – 11 TRILLION Dollars In Stock Market Wealth Was Wiped Out In The 3rd Quarter

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Dollars - Public DomainDid you know that 11 trillion dollars in global stock market wealth was wiped out during the third quarter of 2015?  When I was emailed this figure by a friend, I was stunned for a moment.  I knew that things were bad, but were they really this bad? When I first received this information, I had just finished a taping for a television show in which I had boldly declared that 5 trillion dollars of stock market wealth had been wiped out around the world.  Unfortunately, the final number has turned out to be much larger than that.  Over the past three months, the stock markets of all major global economies have been crashing simultaneously, and 11 trillion dollars of “paper wealth” has now completely vanished.  The following comes from Fortune

Global equity markets suffered a bruising third quarter, shedding $11 trillion worth of global shares over three months, according to Bloomberg.

It was the market’s worst quarter since 2011. The prolonged slump was due to low prices for commodities such as oil, instability in China’s markets, and the anticipation that the U.S. Federal Reserve will soon raise interest rates.

In light of this number, how in the world is it possible that there is still anyone out there that is claiming that “nothing happened” over the past few months?

In China, they sure aren’t claiming that “nothing happened”.  Chinese stocks are down about 40 percent from the peak of the market.

In Germany, they sure aren’t claiming that “nothing happened”.  As of a few days ago a quarter of all German stock market wealth had been wiped out since the peak earlier this year.

Yes, things have been a bit milder in the United States.  So far, stocks are only down about 10 percent or so, but we did see some truly remarkable things happen over the past three months.  We witnessed the 8th largest single day stock market crash on a point basis in U.S. history, we witnessed the 10th largest single day stock market crash in U.S. history, and we witnessed the single greatest intraday stock market crash in all of U.S. history.  On August 24th the Dow plunged 1,089 points before bouncing back.

But every time the markets have an up day there are all these people running around declaring that “the crash is over”.  Well, that is not how financial markets work.  They “stair-step” on the way up and they do the same thing on the way down.

And without a doubt, U.S. stocks still have a long, long way to go down.

In recent years, stocks have soared to unbelievably unrealistic levels.  One of the most popular methods of measuring the true value of stocks is something called the cyclically-adjusted price to earnings ratio.  It was developed by economist Robert Shiller of Yale University, and it attempts to accurately show how much we are paying for stocks in relation to how much those corporations are actually earning.  When this number is very high, stocks are overvalued, and when this number is very low stocks are undervalued.

Earlier this year, CAPE hit a peak of about 27, and by the beginning of August it was still sitting up around 26.  The only times CAPE has been higher has been just before other stock market bubbles have been burst…

CAPE - from Wikipedia

It would take a total drop of about 40 percent from the peak of the market just to get back to average.  So far the Dow has fallen about 10 percent or so, so it is going to take another 30 percent crash just to get to a point where stock prices are considered “normal” once again.

Another very common measurement of stock values shows the exact same thing.  The ratio of corporate equities to GDP is also known as “the Buffett Indicator” because Warren Buffett loves it so much.  When stock prices get very high in relation to the size of the overall economy that is a sign that stocks are overvalued, and when stock prices get very low in relation to the size of the overall economy that is a sign that stocks are undervalued.

The chart below was recently posted by dshort.com and it shows that stock prices would have to fall more than 40 percent just to get back to the historical average (the mean).

The Buffett Indicator - Doug Short

Right now, lots of Americans are rushing to get back into the stock market because “September is over” and they figure that stocks are a good value now since they have gone down a good bit.

But as you can clearly see from the charts that I have just shared, U.S. stocks are still a terrible value.

Even if we don’t experience a “black swan event” like a major natural disaster, a large scale terror attack or the collapse of a globally important financial institution in the months ahead, it is inevitable that stocks will go down a lot more at some point.  Stocks simply cannot defy gravity forever.  These bubbles have always ended in crashes in the past, and the same thing is going to happen again this time.

People that are trying to tell you that “things are different this time” simply refuse to learn from history.

I am writing this piece while waiting for a plane at Denver International Airport.  I missed my connection because my first flight was delayed by about an hour.  So I am just sitting here watching people walk past.  Most of them are just living their lives without any idea of the disaster that is about to hit this country.

Over the past few days I have been reflecting on the fact that our nation has willingly chosen this path.  We willingly chose to go into so much debt.  We willingly chose to send millions of good paying jobs overseas.  We willingly chose to pump up these financial bubbles.  We willingly chose to reject the values of our forefathers.  We willingly chose men like Barack Obama, Harry Reid and John Boehner to represent us in Washington.

The things that are coming are the logical consequences for decisions that we have collectively made as a nation.

There are still many out there that do not believe that we will have to face any consequences for what we have done.

Unfortunately for all of us, they are not going to have to wait very long at all to see how incredibly wrong they were.

  • Alwaystomorrow

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

    Published 6/25/2015.

    89 days until 12/31/2015.

    Lets do a count down 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.

  • Mike

    Yet the stock market must see some positives, up 200 points today,go figure?

  • Tired

    Normally you say “Timing is everything” – but now many factors make predictions a hard forecast- just like a weather forecaster. Taking the projections of movements and long range projections are best guesses for a weather forecaster. So many factors are at play now – I am getting a headache.
    Factors such as the increase of healthcare, food and many other products are just signs. I see more people every day living on the edge of oblivion. Some by chance and some by reckless actions. Every one gets a check.

  • CASTIEL

    Must be very funny see those people around the world with the so called poker face when they see all tumble….no more net and TV no more facebook no more essence…they will ride a donkey and eat roots….Even the truble times we live in most people believe this is the right path…..wars corruption, greed and slaves everywhere….but if the stock market come up everything is fine…..well i say : screw those people and that system

  • Jim Clark

    So what are the world’s equities markets worth now?

  • G21

    But…but…but the Dow was up today! How can there be a crisis?
    Hint: Hussein Obama and the Democrat/Socialist/NWO/One World Government/Communist Party.
    : ) ; ) : 0 ) : / (and all the other ridiculous little faces.)

    • Gay Veteran

      don’t forget the Republican/neo-conservatives/empire abroad and the national security/surveillance state at home/Party

      • G21

        1. Neo-cons? Nothing more than ex-Democrats
        2. Empire abroad? How many nations does Hussein Obama have our military in?
        3. Surveillance state? Ever heard of Hussein Obama’s NSA?

        FYI, I blame the Democrat Party for the demise of America only slightly more than the Republican Party, who could have stopped much of the socialist/Marxist agenda, but didn’t.

        • Gay Veteran

          FYI, the democrats and republicans are 2 sides of the same coin,
          Clinton=Bush=Obama
          and neo-cons are ex-democrats? someone better tell war criminal Cheney etc.

          • afchief

            More proof that liberalism and homosexuality is a mental disorder!

          • Gay Veteran

            wow, are you that pathetic?
            you’ve got the brain power of a gnat

  • DJohn1

    People in general do not see how it effects their lives.
    There are a lot of Loretta Lynns out there more concerned with whether the children are fed, diapers are changed, and other routine mundane facts of life. All of which she made a song about.
    The real facts are that the stock market often means you might not have a job if it goes down too far.
    It means pensions will go down the tubes along with 401Ks.
    Meantime, the husbands of this world are figuring out how to do that oil change instead of having it done. How to repair the lawnmower. Maybe changing a cartridge in the kitchen sink. Those things concern people.
    Not the goings on of people well off and investing in the markets.
    They will not see the truth of what is told them until it hits them between the eyes. When most everything they have is gone.
    And that describes one of the foundations of American Banks. I refer to the Real Estate Market. Because when Mr. and Mrs. John Doe out there get hit, the banks go under real quick. You have foreclosed homes on every block in every city out there.
    I know because we live in such a city.

  • Guest

    Okay, so the unemployment report for September was released today, and the number of jobs “added” was 60k less than the consensus. Furthermore, the economy lost 9,000 manufacturing jobs in September. And the number of jobs “added” in August was revised lower by 37k. Yet the DOW was up 200 points today??? When is this nonsense going to end?

    • Catman

      I agree, it is very confusing when that happens. Bear in mind the Dow was actually down 259, recouped that, and added 200. It seems investors are split down the middle: some see a recession while others- evidently many others- see things improving within the same economic data. The extreme volatility witnessed in the markets since August seems characteristic of a market headed south. Since May 19 Dow is off nearly 2000 points from it’s high. That’s what I keep reminding myself of when I see these bizarre fluctuations.

      • fwalker15

        Technicals were already in place for and inverted head and shoulders pattern on sp500. When the news came out and interrupted futures another fast retest of lows or bottoming process occurred. When this “low” held algos got back to business as usual and the inverted h/s pattern continued. You can see that SO FAR bears are unable to facilitate any volume reversal and with China and India recent interest rate easy money policies the carry trades are giving strength to u.s. markets. Add in some weekly options expirations – confusion in Russell etfs reverse split and three day displacement indicators pushing algos toward “bullish bias”. If todays aglo driven efficiency which generated “test” of both scenarios / outcomes in real time didn’t convince anyone of the importance of technical analysis confirmations in this complete algo driven market environment nothing will. The process interacts with amazing efficiency (for now) through most capital markets credit and equity markets and today helped kick the proverbial can down the road for another day. At this point MAYBE see you at sp500 1969 then 1989. The first time any of those confirmations fail 1969 or 1989 if we get there or 1948 if we retrace then a violation of any of them likely leads to a retrace of 85%+ of the prior days price gains on 85%+ of the volume and if that occurs expect continuations lower. If the volume reversals can not occur then maybe although very very very unlikely the bulls have constructed a dirty bottom for a moment. My best guess remains djia 15,600 then lower sometime very soon. Jmho
        2 Edit Re

        • Jazz

          Glad to see you mentioning TA. I really think the Aug 24 bottom is it and the support levels are holding. Unless we see a black swan event (unlikely any time soon), the markets will be back to business as usual and head back to the highs rather than making new lows. May take longer but if there is no new news bad enough to take out the lows we will eventually drift back up.

          Though the economic numbers continue to break down so I could see us drifting lower too.

          Anyhow, we need some catalyst to get us to those new highs just as much as we would need a new catalyst to take out the previous lows. Q3 earnings could provide that spark or some more stimulus or new reports showing strength of US economy could break us back to the upside. I’m not naive and know with the technical damage there is a LOT of resistance. So I was thinking maybe my previous ultra bullish (repeat of 2011) may not hold water. I don’t rule it out but am open to the thought that we could be back to sideways trading like we saw prior to the Aug disruption.

          Without a new catalyst we are probably back to a trading range which seems to be 1870 to 2000. This provides good opportunity to make money trading the ranges – buy calls and 3x bullish etfs around 1870/1900 and sell at 1950-2000. Buy puts and inverse etfs at 1950-2000 and sell at 1870-1900. I haven’t plotted the ranges to see best entry and exit points, but what are your thoughts on that type of strategy for this market?

          • Gay Veteran

            Jazz = fwalker15

          • Jazz

            Gay = Sin

          • Gay Veteran

            people = sin

          • Jazz

            Yes. Gay + People = sin

          • Gay Veteran

            jazz = fwalker = moron

          • afchief

            Homo = mental disorder!!!

          • Gay Veteran

            mental disorder? project much?

        • Catman

          I wish I had a fraction of your understanding of the technicals influencing this market action. Thanks for taking the time to explain it.

        • Prepper1

          You hit the nail on the head, fwalker15!

        • W.F. CALL

          Great post Walker.

        • Gay Veteran

          fwalker15 is back with his BS

          • afchief

            The “rump ranger” is back with his fudgepacking!

          • Gay Veteran

            did you go on a honeymoon with your dog wife in the photo?

    • John Noyb

      Not until corrupt politians are gone (like THAT will ever happen) – the numbers have been manipulated for a long time now and I don’t think you can believe any of the information that comes from Washington.

      • none

        Great news is here again! Now I can begin printing a few extra trillion dollars!
        I have had Bararrff asking if he Harry Reid and Jhon Bow,hummer? Could have their faces carved into Mt. Rushmore, over those three already up there . Since they know so much more than they do. And replacing the $10 dollar bill.
        Janet Yelson.

    • Mike Smithy

      IMHO, the Fed and its closest allies are the only ones buying stawks. Since they are members of the inside track club, they know QE4 is on the way to pump this crap higher. In the new normal, bad news is good news and thus fundamentals are irrelevant. If we were living in a sane world the DOW would be around 8K.

      • Guest

        I’m starting to think that we really don’t understand it, Mike. Larry Edelson believes that, after a correction, the DOW is going to 31,000 over the next few years. Huh?

        • alan

          Zimbabwe’s stock market was up 12,000% in 2007. Never under estimate the power of the printer.

          • Guest

            Edelson doesn’t believe that hyperinflation will cause the Dow to rise to 31,000 over the next few years. He says it will be because investors will not put money into bonds due to sovereign debt crises and will instead put money into stocks.

          • http://www.facebook.com/jack.harper.520562 Jack Harper

            They had a $50,000,000,000.00 bill too.

      • J.L.W

        Not from what I have seen.

        Firstly it is not so much ‘buying stocks’ as ‘rigging stocks’. It is small investors that are doing this. Because if it goes wrong it can cost severely and investment firms have gotten burned a few times.

        Which is part of the whole puzzle. Since when it goes wrong for them and ‘burns’ the small investors, they really will be screwed, since the FED is not in the business of bailing out the little guy.

    • jaxon64

      Tell lies often enough and people WILL accept them as fact……….

      Take the Bloomberg comment above:”” The prolonged slump was due to low prices for commodities such as oil, instability in China’s markets, and the anticipation that the U.S. Federal Reserve will soon raise interest rates.””
      Same load of bull that they ( “market experts” and powerbrokers behind the scenes) have been shoveling for months now. Does it ever occur to any of them that many of these stocks are just ridiculously overpriced?
      That the consumers may be tapped out? That credit is slowing to a trickle? That real unemployment is well over 20% and over 40% of working age Americans don’t participate in the labor force ( ever wonder where all of the money comes from to support the lives of these 100 million people who don’t produce or supply their own basic needs?)?
      None of it is real–Facebook will take over 1,000 years to earn the profits equivalent to their stock value—Twitter has never had a quarterly profit and yet is worth billions in the markets— they tell us we have no inflation yet food packages get smaller and cost more, electricity is 40% above what it was 6 years ago, anything you NEED is going up in cost…..
      I’ll simplify it for everyone so you can skip fwalker’s bs market buzzwords–it is and always will be supply and demand. The demand is drying up and the coffers are empty. Even the government of the largest economy in the history of the planet runs out of money every year and must have ” emergency cash infusions” ( added debt) to keep from shutting down the government and having EBT card users burning down the cities—don’t listen to their crap–it is all FAKE– and coming to a slow, torturous end.

    • J.L.W

      When something unpredictable happens and the riggers really get burned and lose a lot of money. Then it will be very hard to keep the ‘boat’ afloat.

    • Priszilla

      When you employ less people you have less costs for wages hence higher profit and more dividends.
      Stock price goes up.

  • alan

    So I am not an economist or even a closet economist but where does that 11 trillion go? So my company automatically pays into Charles Schwab 401k account for me. I see that I am down like 7% for the last year. They pay in this money directly, where does it magically go as a loss? Someone got it, it didn’t burn up in a fire. My thought is somewhere 11 Trillion dollars magically appeared in some ones books? My loss some ones else’s gain??

    There’s no doubt we are in trouble, but never underestimate the career criminal.

    • fwalker15

      Of course its zero sum. When those who buy (to open) long lose on a stock sell (to close) those who sell (to open) at higher levels can then buy (to close) and actualize the gain. Get it opening transaction and closing transaction. Bulls buy (low) to open sell (high) to close. Bears sell (high) to open then buy (low) to close. The article is ridiculously incorrect and after last months off the charts ludicrous contents the writer still expects you to be equally as gullible and misinformed…as many on this blog are ROFL

      • W.F. CALL

        lol. Be nice Walker. The writer seems sincere and he does have consider his audience regarding level of expertise. But, you know this.

        Yes, I agree Walker, the writer may consider a basic explanation of “what happens to the $.”

        Also, Walker, remember, many of these people may rely completely on their broker.

        respectfully.

    • jox

      The market is not a zero sum game. You buy an asset that has a value, but some factors can alter that value. For example you buy a nice house in the beach, but later there is a report that the area is contaminated. Your house value is far lower. The wealth dissapears. Your loss is someones else’s gain? No.

  • Alwaystomorrow

    Mike when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions.

  • Alwaystomorrow

    Mike when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions..

  • Alwaystomorrow

    Mike when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions

  • Alwaystomorrow

    Mike when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions,

  • Alwaystomorrow

    Mike, when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions

  • Alwaystomorrow

    Mike, when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions.

  • Alwaystomorrow

    Mike, when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions.,

  • Alwaystomorrow

    Mike, when you delete my countdown (as you just did) it assures me that you are a genuine FRAUD. You block my I.P address and I just switch to another one.. The countdown should pose no threat to you unless you feel that it is a threat to your true intentions

  • Alwaystomorrow

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

    Published 6/25/2015.

    90 days until 12/31/2015.

    Lets do a count down 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.”

  • Alwaystomorrow

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

    Published 6/25/2015.

    90 days until 12/31/2015.

    Lets do a count down 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.”

    • G21

      Dude – can you not see what a jerk you are, on the same level as fwalker15?

      Give the rest of us a break. You’re not the only one here.

      • Alwaystomorrow

        Mike, I will delete All my posts at 8:00 (CDT) unless you beat me to it.

        Alvederzane.

      • Guest

        Its pretty bad when readers of this blog start to remember the names of others, such as alwaystomorrow or this fwalker15 guy.

        • Guest2

          Those 2 clowns offer just as much nonsense as the author of this blog so which is worse?

          • Malcolm Reynolds

            as much nonsense as the author of this blog
            Ahh, so you have those point by point refutations at the ready do you.
            I’ll be expecting as many outside links, quotes and graphs as the author uses when you get beyond just blathering. Ready, set, go….

  • Alwaystomorrow

    Mike, I will delete All my posts at 8:00 (CDT) unless you beat me to it.

    Alvederzane

  • CharlesH

    Thanks again Michael for a straight forward assessment of what’s going on in the “real world”. I’ve tried and tried to inform people that I know about the condition of the overall economy and the entire world economy and they honestly don’t get it. If it’s not affecting them personally – then it’s not happening – it’s not for real – it’s something that is happening someplace else. Unless it’s in their pocket or in their face – it ain’t real. So – like you – I’m frustrated but one can only do so much.

  • Imaplaneiac

    Michael, within your fourth paragraph from the bottom … you list several insane actions that ” WE WILLINGLY ” did. Well, I DID NONE of them! Nor did most of the readers / bloggers of this blog! I accept ZERO responsibility or blame for the actions of the MORONS who DID willingly do them!

    • Zenithon

      It’s not always what one doesn’t do, sometimes what one does do is far more important. I have no idea what you have or haven’t done, but in general those of us that did not participate in any of the actions described by Michael probably could have done more to oppose them.

  • Jazz

    I agree the US markets are overvalued and things are starting to look bleak from an economic standpoint. Yet there are far too many bearish people (already out of the market) and LOTS of cash on the sidelines. Today was a perfect example. The market plunged to 1870ish and all the cash came rushing back into the markets. It’s like a slot machine. Once it goes down, in comes the buyers and boom/dynomite we are off to the races.

    I think August 24th was our low for the year UNLESS there is a black swan event. If there is no such event, we are heading higher as the steam picks back up for the bulls. There really aren’t many significant catalyst reports or data points for the next few weeks so the bulls will bring the markets back up through the end of the year. If Q3 earnings come in better than expected we also could see higher highs in the weeks to come.

  • Mike

    Even the most basic investors must see there’s big problem with economic situation, are not most of these investors pro,s in there field?

  • Harbinger

    “Why should fools have money in hand to buy wisdom, when they are not able to understand it?” This seems to be the mantra that our government is operating by. We have wasted trillions of dollars with nothing to show for it and we still cannot figure out why we are in debt. Common sense left the building a long time ago and the politicians in charge don’t even realize it. We have no concept or concern that Russia is in Syria, but we did give them a stern talking to. Unfortunately things have already been set in motion and there is no undoing what is going to be done. Thankfully God is and always will be on the throne. I trust that wisdom will prevail and understanding will be contagious!

    • Gay Veteran

      wasted $TRILLIONS in Iraq, Afghanistan, Libya, Syria, Pakistan, etc.

      “…We have no concept or concern that Russia is in Syria….”
      Russia is destroying the terrorists DC created (both directly, and indirectly with our war of aggression against Iraq, Libya)

      • Harbinger

        Who licked the red off your lollipop? Why do you have so much distane for our military? Did they fail to meet your needs? If your a Gay Veteran I would expect you to be happy, unless your using the derogitory meaning of gay.

        • Gay Veteran

          why don’t you explain to me why anyone would NOT have disdain for the imperial war machine?

          • Harbinger

            If you enjoy your freedom I suggest you say “thank you”, and walk away. Our military is the only thing keeping the wolves at bay. Yes our politicians and government are corrupt, but don’t take out your anger and hatred on our military. Young men and women die everyday because of the fools in our government. Unfortunately until we find a workable solution, we are stuck with the status quo.

          • Gay Veteran

            Freedom? “our” government records every phone call, every text message, every email. Is that the sign of a constitutional republic? or a fascist state?

            “…Yes our politicians and government are corrupt, but don’t take out your anger and hatred on our military….”
            I feel sorry for a lot of people in the military, especially the young men and women who don’t realize they are small cogs in the imperial war machine

          • Harbinger

            You sound like an enigma, wrapped in conspiracy and surrounded by paranoia, but then again you may be right.

  • Lao Tzu

    Until New York and San Francisco look like Detroit, the economy is fine.

    • Malcolm Reynolds

      It took 30 years for Detroit to look like that.

      If the market crashes and your pension disappears,
      are you fine?
      It’ll take 30 years (when you’re supposed to collect it)before those 0s become real. So are you fine?

    • Mike Smithy

      I was in San Fransicko this summer and in New York last week. It smells like urine when you walk down the street of these cities. Homeless people and beggars are everywhere. The vast majority of the building were in disrepair and it looked very ghetto.

  • HeyAHuman

    Well, this guy named Joaquin may just be the black swan we’ve been waiting for.

    • Guest

      It’s already affecting me. It’s raining cats and dogs here in SC.

  • Patrick Williams

    Nothing did happen…not like the shemitah and blood moon people thought…they were wrong because their analysis was based on myth.

  • VigilanteCaregiver

    And a record 94,610,000 American citizens are out of work. The US population is at 318,860,000 (2014 census figures). Nearly 1/3 of the country CAN’T get work!

    Congrats leftists; your utopia is blossoming… no, wait. It’s collapsing.

    • Gay Veteran

      doubt it was the “leftists” that shipped MILLIONS of American jobs to Mexico, China, India, Vietnam, etc.

      • VigilanteCaregiver

        No, those practicing your ideology did.

        • Gay Veteran

          hey Einstein, I oppose “free trade” and shipping millions of American jobs overseas

  • Joe Trevors

    It is the fault of our government leaders to turn what was responsible savings for pensions, as the great Social Security system – into a giant CASINO gambling span – to make us believe we must rely upon the Stock Market for pensions. It is unnatural to keep interest rates at zero. It is helping the 10% of our people get richer without caring about the 90% of the people who have to work for a living & can get no interest from savings like we used to. The current system is EVIL because it forces you to gamble, to speculate. They call that investing!

  • Joe Trevors

    PS – I made a typing error in my previous comment: I said “giant CASINO gambling span”. I meant to say “giant CASINO gambling scam”. The current idea for the stock market is endless profits: to go higher & higher forever. It is a Tower of Babel. What would Moses say today if he saw how people are worshipping money as they are doing today: the wealthy can never have enough & they deserve always more; the poor have too much, & they always deserve less?

  • Observer

    “Over the past few days I have been reflecting on the fact that our nation has willingly chosen this path. We willingly chose to go into so much debt. We willingly chose to send millions of good paying jobs overseas. We willingly chose to pump up these financial bubbles. We willingly chose to reject the values of our forefathers. We willingly chose men like Barack Obama, Harry Reid and John Boehner to represent us in Washington.”

    The most sensible things the author has said in a long time. Blame yourselves for the mess that you are in right now, as the majority of Americans do right now. Always complaining about other people, not their own behaviour.

  • VigilanteCaregiver

    I need to restate this again: we have over $120 Trillion in raw materials and locked energy within US borders right now. The value is probably much higher today as this fact comes from about 2 years ago. We also have $350 Trillion in renewable materials already on the surface. We have the materials and commodities to restore our economy.

    The biggest problem is we already fell into a tyranny. We can’t work; the illegitimate powers won’t allow it.

    Here’s a question and I’m being very serious: given what we know, that’s verified, about this whole rotten situation the country’s in… and here’s the big question… should we allow it to collapse without interference? Concern ourselves with our own preparations and that of our community, and let those who want to perish to do so. If there’s one thing my brother’s-in-law taught me: no matter how many times you handcuff and chloroform someone, they will eventually find a way to commit suicide when the decision is made. I’ve gone over this so many times with family and the local Church Ward; this society has made that very decision.

    The biggest argument against this is “we’ll end up with no freedoms in the end. It’ll be a tyranny!” We already have an oppressive tyranny. We already have little to no freedoms as is. Great loss of life – already happened under Darwinian/Feminist Eugenics at Planned Parenthood and the gang violence that occurs daily.

    The difference this time is we have The Constitution with amendments. We have the blueprint and plenty of proofs that it works. The collapse is inevitable at this point, but what happens afterwards is what’s important now.

    • El mico

      You may have all that wealth but who’s going to buy it?

      • VigilanteCaregiver

        Seriously? It’s not obvious?

    • fwalker15

      Maybe you need to research “Exters Pyramid” theory. That may add some clarity regarding your delusions of “locked away” “wealth”. The rest of the banter of suicide and tyranny and chloroform, eugenics, blueprints and proofs …. =roflmao

      • VigilanteCaregiver

        Exters Pyramid theory doesn’t address the locked up commodities. It’s based in another era with a gold standard: moot today with fiat currency.

        The locked up commodities comes from EIA survey’s, Lexus Nexus data, and historic commodities market data I pieced together. Start with the EIA.

        And it ‘s good to know where you stand: no empathy, supporting mass murder of the unborn, and incapable of scientific argument. I can’t laugh at that: not into sadism like the rest of you trolls.

    • Gay Veteran

      “I need to restate this again: we have over $120 Trillion in raw materials and locked energy within US borders right now….”
      you do understand that commodity prices are plunging because of over supply and lack of demand???

      • fwalker15

        Do you understand that commodities is such a broad term and includes many assets- many of which are not plunging? Only the most uneducated and inexperienced make such foolish errors while even the most uneducated clearly see and recognize wholesale foods commodities prices continue rising. ROFL

        • Gay Veteran

          darling, you are fooling very few people here

        • Gay Veteran

          hey Einstein, try Bloomberg Commodity Index

        • Jazz

          What do you think of trading the ranges? Without a black swan event I expect the markets to stay above the Aug lows and without good news I don’t expect markets to head above S&P 2000 or below 1870. What about buying calls & 3x bull ETFs at 1870 to 1900 and selling at 1975-2000 and then buying puts and inverse ETFs at high end of level and selling when it heads back down. Do you see range bound trading like we saw all year (prior to August)?

          • fwalker15

            I think at best were range bound to lower and I don’t expect it to see sp500 above 2000 either I think key levels are 1948 1959 1979 the minute on of those levels fails I would not be surprised to see 1948 tested again then 1910 1872 1867 I expect they all get violated very soon and djia to trade down to 15,200-15,600 range short term and likely lower anytime between now and 2nd qtr 2016.

      • VigilanteCaregiver

        Commodity prices drop at this time of year anyway. That’s what happens when harvests come in.

        Lack of demand? Nope – plenty of demand. Oversupply? Nope – some markets and commodities had a difficult crop year. Oil, that’s a beast in and of itself. Precious metals are down a little; normal PM market behavior.

        The only thing I see is higher inflation.

        Now, if you’re referring to the extended history: that’s understandable. Too many dollars chase too few assets. To keep the assets moving, eventually retailers, wholesalers, and producers drop the prices to razor thin margins to keep their products moving. When this happens, the powers that be print more money to buy up the excess – keep prices high, and tax dollars coming in.

        Now is the deflationary period before the hyperinflation hits.

        • Gay Veteran

          “Commodity prices drop at this time of year anyway. That’s what happens when harvests come in….”

          guess you didn’t understand that commodities include much more than grains.

          “…Lack of demand? Nope – plenty of demand. Oversupply? Nope…”

          hey Einstein, then why is the price of lumber, iron, coal, etc. going down???

          “…Now the deflationary period before the hyperinflation hits.?”

          LOL, even a stopped clock is right twice a day

  • K

    The so called experts, never see it coming, and the majority of them never will. In their arrogance they believe they can make the market, dance to their tune, forever. This is the most rigged, unreal economy ever. Government figures, libor, precious metals, all rigged. The stock market, at best a fairy tale. This is what Fascism looks like. Instead of the Government rooting out the corruption, and the lies. It is a willing participant. It works with the elite, to fleece the rest of us. It has already started with what little wealth we may have. They will not be satisfied, until they take our very lives. Power corrupts. Absolute power, corrupts absolutely.(Acton)

  • fwalker15

    Once again simply taking the time to verify facts vs fiction an informed person may find that a significant portion on that $11 Trillion in loss can at BEST be called notional value. Or value of securities held by insiders and considered restricted under Rule 144 and similar statutes in other jurisdictions. In simpler terms “insider stock” and still restricted from resale during prescribed holding periods. Any other transactions by design had an equal and opposite gain on the other side of the loss- is there really anyone gullible enough to not know that? At this point I’m very bearish on the stock markets but separating fact from fiction still seems prudent. Although not as important the “stairs up stairs down saying” in real world the saying is “stairs up elevators down” …. Does any actually research the content of the articles before they’re posted?

    • Gay Veteran

      oh look, the financial Einstein is back

    • Green tip

      Now there’s the fwalker I like to read. Your much better suited to giving out prudent financial advise than insulting everyone. Teach on wise grasshopper

  • Rick

    Michael, I appreciate your stats and view on the stock market. And when it’s taken a global beating like it just did in the 3rd quarter, we need to know. However, I think you know, as a minority of people in our country do, that the stock market is no longer tied to the economy. It’s no longer a signal of what’s actually happening on Main Street. The ordinary people like us cannot relate to what the market is doing or will do, because we are not in it. I’ve been blessed, I’ve worked hard, and sacrifices, and am roughly a 2%er (for the time being) without getting into detail on annual salaries and bonuses. But even at that, other than the minimum amount for an employer match on my 401k, I have nothing else in the market, and I probably won’t because it’s not trustworthy.
    We need to hear from you about the real economy more often. Places like Detroit, all of CA, and the depressed rural areas all across our land. How are we doing there? If we live in NYC, DC, or most large cities, we are taken care of with social programs, and freebies, and most are just fine with that. But how is the struggling rancher in MT, or the farmer in WI, or the small business owner in CO doing? How are the NFL football stadiums always filled from Sunday to Sunday, and college games at $100 or more per seat filled every day in between? I know my budget, and I know where we fall on the % scale, yet I have not taken in an NFL game in person in over ten years. How are all these people able? Case in point, my mailman who’s a great guy, lives 4 hours from the MN Vikings new stadium, yet he’s already got season tickets lined up????
    Thanks, and keep up the great work.

    • Barry Goldwater

      Strange you say you’re not in the market yet you have a 401k. That ‘s like saying you don’t drink but enjoy a beer after work everyday. Yes you have something to do with it and you’re steadily putting money into it every day even if you’ve convinced yourself otherwise.
      You can elect to stop contributions .
      Nothing could be further from the truth than saying the market isn’t connected to the economy anymore. Do you believe the market will collapse as we believe it eventually will and employment will not be affected ?
      Do you believe we can enter the next economic collapse and Banks will not be affected when the large Banks are more exposed to stocks and derivatives than ever?
      I can tell you how people are doing on main street and the answer is not very well. Over half of all employed Americans are earning less than 30,000. Labor participation has reached an all time low 62.4 %, wages have been flat for decades and average Americans are carrying huge personal debts 17.1 Trillion in personal debt. Thirty five years ago when we began exporting the core of American industry abroad and wages stalled we began financing our lack of growth on a personal level and sadder still at the Federal level as well. The debt overhang here in America is far greater than you may realize standing at 65.3 Trillion as I write. A more shocking thought is that we have an unfunded liability burden of 98.5 Trillion. That’s our America, yours and mine !
      Debt simply brings forward tomorrow’s activity to today. A day of reckoning awaits as Americans are increasingly tapped out meaning a variety of Corporations are feeling the pinch in declining sales. mall traffic in decline, Wal- Mart sales sluggish , Duncan Donuts closing stores. The evidence is all around if we look.
      Koolaid drinkers believe we can just continue to pour more debt into the markets and keep the party going.
      Do you believe we can escape the consequences of this indefinitely ?

      • Rick

        Barry, you’ve made my point for me wonderfully. The stock market is still going great guns, yet our economy sucks (the real economy of the people). You know as well as I that the only reason the markets are high is due to TARP of Bush, and QEs of Obama. The bubbles get larger and larger for those pulling down 7 figure incomes on Wall Street, yet as you say, $30,000 for the rest of us. They have made advances now where a person can invest 401k dollars into physical metals and stay out of the market. Funny you should mention beer, I happen to like that a lot also.
        You’re data was very informative, and I think it’s what the masses can relate to, and need more of as part of the alarm clock that will wake our country up from its 10 year party on Wallstreet. The hangover will be hell!

  • John Atkins

    Tax the rich and spread the wealth.

    • Jazz

      Lmao socialism works until you run out of other people’s money. Liberalism & socialism sink ALL ships!

    • Guest

      Is that you, Gary?

    • Donald Wilson

      Sounds like socialism at work. That’s the problem with this country. Millions just to stay at home wait for their welfare check and EBT card to get topped off. I’m 60 retired and work 2 jobs. One day the slackers will wake up from their sleep and their world will be turned upside down. Welfare checks and EBT cards will no longer be available. That will be the day when the millions who depend on those checks as well as the EBT cards will freak and go ballistic. The End…

  • stroea

    I’m not impoverished. If I were, I wouldn’t have money to pay for an internet connection. But I’m by no means well off. I don’t have extra money to invest or even to open a savings account. When the price of gas neared $4.00, I suffered.
    What’s the point? Well I say: let the upper classes suffer for a while. They don’t care ab out us in the lower tiers, so why should we care about them?
    In a true crisis I suppose that I along with many others will starve, but now…

    • MightyIDF

      You know, this is America, where we’re supposedly free to do as we please…including making as much (or as little) money as we want.
      stroea, you say that you want the upper classes to suffer because they don’t care about you. Well, does the middle class or the lower class care about you? What if you had $10 million? I could say, “Take it away from him because he doesn’t care about me!”
      But that would be wrong, wouldn’t it – because it’s your money, not mine, and your life is none of my business.

      Don’t punish someone who worked hard and made it, just because you didn’t.

      • HeyAHuman

        Nobody said anything about punishment. All that I gathered is that we shouldn’t be blubbering over the uber-rich losing some wealth; a point with which I agree. If the upper class loses their money, who’s fault is that? After all, “this is America, where we’re supposedly free to do as we please…”

  • Priszilla

    Right now the food is getting cheaper. Fuel is already cheaper. It becomes easier to pay back loans earlier.
    As a result banks will get less interest payments.

    • Mike Smithy

      Food is getting cheaper? What planet do you live on?

      • Jazz

        It’s only cheaper of you go to the food bank. Otherwise prices are either going up on items or staying the same and the boxes get smaller.

  • Michael Dubin

    I don’t believe there fill be any collapse at the end of the year. Sure, the market might go down a little, but our lives won’t change much.

    • Green tip

      I’m not trying to be confrontational but do you think it ever will tank? Maybe 5 years or ten years? Will our system of dept ever come tumbling down?

  • Jane Bobsky

    Of course the big difference is this time the central banks have made free money the normal. IE turning cash and savings into trash. When cash is trash everything else has “value”. Worthless cash= infinite prices. Just ask Zimbabwe. The real economy is meaningless for the Wall St crowd.

  • J.L.W

    I have had the moment a few times, especially when I was still prepping, of thinking how unprepared people are.

    I’m not sure how a market crash will work out, there may be provisions from the army, I really don’t know, it may not effect people to the extent of ‘death or starvation’ if they are not prepping

    But what is clear is that if it will effect them, they are not ready for it. Especially when I overhear a conversation that is particularly moronic do I have these thoughts. Some people are still ‘switched on’ despite being unaware.

  • sorrow

    There will be a war before a crash. Then the war will cause the crash. Just google and youtube post Europe after WW2. Devastated countries. Russia practically wiped Berlin off the map. It’s a wonder that city ever made a comeback.

  • Yawn

    Nothing is happening. Those trillions never existed in the first place. Its all funny money that is worth nothing that has never existed thus nothing has been wiped out and nothing is happening. Savvy?

    • Bubba Johnson

      Me no savvy.

  • GetReal4U2

    Unfortunately for all of us, they are not going to have to wait very long at all to see how incredibly wrong they were.
    TRUE WORD …

  • JailBanksters

    Not wiped out, transferred.
    Wealth is never destroyed, it is transfered.
    With every person that loses a trade, somebody wins on a Trade/
    If you win on a trade, it’s only because he Banks allowed you to win, to keep you interested

    • fwalker15

      You may want to learn about sec rule 144 insider and restricted stock see if thats zero sum as you suggest. As for banks “allow you to win to keep you interested= ROFL.

      • JailBanksters

        Lookup frontrunning

  • BDBinc

    Doesn’t that give you a clue, $11 trillion a made up amount of the Stock markets made up fabricated wealth… the stock market is just a super computer program.
    Its fictitious, the prices are rigged and fixed as are the dips and growth the program is rigged .

    How did Wall st it get linked to the banksters loaning nations money with interest? Are the people the collateral, taxes to go to private banksters instead of the people’s welfare and wellbeing.

    Its madness- I don’t care if wall st stock market has 100 trillion wiped out
    Every nation has a right to create money (like the banks -out of nothing) Poverty is the wall st Wanksters creation.

  • BDBinc

    Does anyone care as much when trillions disappear every year from the govt budget!!!? Or the other self regulating crooks the fed, IMF UN, CFR??!!

  • Rick

    Eric, first of all most of what you ask is NOYB. Yet I sense a certain sincerity in your post, so I will tell you, our investments are in lake property (clean drinkable spring fed lakes), metals, small equities, and self researched business ownership opps. So far so good. Oh, and still paying off a lot of debt on student loans for myself, my wife, my son, and my daughter. Amazing how incedulous some university pricing schemes can be.

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