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Stock Market Crashing over 1000 Points or 3% in One Day

serfserf Member Posts: 9,100 ✭✭✭✭
edited August 26 in Politics

Looks like the Federal Reserve Party is over for the Stock Market with stagnant growth and Hyper inflation as The Interest rates climb to try to control the devaluation of the dollar. Has the Fiat money system finally met it's Titanic Ice burg that was hidden below the surface?

Or is it just another head fake from the money changers?

serf

https://www.cnbc.com/2022/08/25/stock-market-futures-open-to-close-news.html

Stocks plummeted Friday after Federal Reserve Chair Jerome Powell said in his Jackson Hole speech the central bank won’t back off in its fight against rapid inflation.

The Dow Jones Industrial Average dropped 1,008.38 points, or 3.03%, to 32,283.40, with losses accelerating into the close. The S&P 500 fell 3.37% to 4,057.66, and the Nasdaq Composite slid 3.94% to 12,141.71.

Comments

  • select-fireselect-fire Member Posts: 68,750 ✭✭✭✭

    Recession should appear to them sometime in 2023. By then the freebies sent out, housing bubble should just about be ready to burst. Throw in Credit card debt and it will make the housing 2008 bubble look like a grain of sand.

  • waltermoewaltermoe Member Posts: 772 ✭✭✭✭

    If I were to guess what Biden would do next to stop inflation or a recession it would be. REPARATION.

  • Don McManusDon McManus Member Posts: 23,042 ✭✭✭✭

    1000 points is not what it used to be.

    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • serfserf Member Posts: 9,100 ✭✭✭✭

    Nor is 1000 dollars in gold dollars value back in 1933.That is 50 double eagles which is about 80,000 dollars in today fiat currency.

    serfg

  • BobJudyBobJudy Member Posts: 5,218 ✭✭✭✭

    I think you missed his point. The Dow was around 2600 in 1982. If back then it were to drop 1000 pts it would be about 38%. Today that same 1000 PT drop was 3%. That isn't good and it will probably get worse before it gets better but that 1000 PT drop in and of itself was no big deal.

    The way you keep bringing up gold, makes me think you are related to those guys on t.v. making a fortune selling gold to the worried masses. If gold was going to increase in value so much, why are they selling it? Creating a demand through the use of hyperbole and hysteria is their expertise and that artificially creates a higher price. If your predictions of worldwide collapse come true, what good will gold be? These last couple of years prove how fragile our supply chain is and all the gold in the world won't keep you from freezing or starving if there is nothing to buy. Bob

  • Don McManusDon McManus Member Posts: 23,042 ✭✭✭✭

    There has also been 1000 points scored in a cricket match. 100 years ago it was around 400.

    I maintain it is better to bet on the stock market than on cricket.

    Freedom and a submissive populace cannot co-exist.

    Brad Steele
  • mac10mac10 Member Posts: 2,076 ✭✭✭✭

    still a sucker bet for the peon

  • serfserf Member Posts: 9,100 ✭✭✭✭
    edited August 29

    The Money Changers with The Fiat money is a cancer.The great reset is coming with government socialism. They debase the currency every time congress passes huge tax cuts for the rich or congress passes social welfare giveaways for the poor.

    They can't balance the budget nor can they ever pay off all the debt. But they can cause a default then restructure the debt with Central Bank Digital Currencies (CBDCs), a digital form of a country’s sovereign currency.

    Then we will live under a NWO with a so called Conscious Capitalism ran by Oligarchical Corporations with the best computers with data gathering.

    Total Information gathering with scientific technology for government/corporate socialism is what I call it.

    serf

    https://vervetimes.com/why-the-new-world-order-wants-programmable-currency/

    What this means is that not only will the central banks have full insight into every single transaction of every single person on the planet, they will also have the ability to program the currency so that it can only be used to purchase certain things and not others. They would literally have the ability to control the spending of the global population.

    As explained by the general manager of the Bank of International Settlements, Agustin Carstens, in October 2020 (video below):21

    “We intend to establish the equivalence with cash and there is a huge difference there. For example, in cash we don’t know who is using a 100-dollar bill today …

    The key difference with the CBDC is that the central bank will have absolute control on the rules and regulations that will determine the use regarding that expression of central bank liability and also we will have the technology to enforce that.”

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