While the cracks in the dam have been splintering before this week, the past few days Wall Street has been drenched in RED, having plunged 530 points today (5 percent this week!)
The question is — is this the big one? Are we about to go over the cliff?
Having just sat down after today’s work, I have not yet read reports today of what others are saying, but I can almost guarantee that the mainstream is pointedly blaming the situation on China, their crashing market and currency devaluation.
But everyone with a brain knows —
China is just a symptom of what’s going on worldwide — the debt bubble has peaked.
Is the $hit$storm about to happen? Time to batten down the hatches?
Sound off – let’s hear from you:
I can’t help but think that this might be more than just a ‘correction’. The FED is out of ammo. Interest rates are already zippo. They’ve pumped all the debt into the system that they can since 2008 to keep it afloat (albeit phony). This weekend there’s going to be a lot of panic among the central bankers and powers-that-be of the world.
What will happen Monday? Limit down? We’ll see I guess. How’s your stocks and bonds? (sarcasm).
Gold (the barbaric relic) was up 4.2 percent.
Your turn — what’s your opinion?