As of this writing the Dow is down almost 500 points (2 percent). But more importantly it’s dropped 1,700 since December 12th. That’s a 6.6 percent decline. The Dow Jones average is now lower than a year ago.
You would think there might be some concern from the media/press. Not so. There is no mention of the slide in MSNBC.com, CNN.com (just an article entitled,
The best way to cut your stock market losses), USAtoday.com, Yahoo.com, FOXNews.com, CBSnews.com, BBCNews.com. And barely any mention in the WashingtonPost.com (1 article, but buried) or News.Google.com (had a mention in the Business section in the middle of the page).
Why? Well, the press can’t chew and walk at the same time. They are totally obsessed with Donald Trump and his legal problems; rightfully so. But there doesn’t seem to be any room for any other major news. And maybe that’s why a stock market collapse is happening.
There is an article if you do a Google search. It’s from the CNN business section:
Mounting global growth fears rippled across Wall Street on Friday.The Dow dropped 497 points, or 2%, on Friday. The S&P 500 declined 1.9%, sinking to the lowest level since early April. The Nasdaq tumbled 2.3%.
Markets were dinged by a batch of negative corporate and economic developments, especially weak growth numbers out of China and Europe.”
Something is wrong here. There is this global slowdown. We can’t deny it,” said Michael Block, market strategist at Third Seven Advisors, a private wealth management firm.
I’ve been predicting a stock market collapse for some time. The speculative casino conditions on Wall St. have not changed from 2007. It is little more than a ponzi scheme. And that scam has been exposed once again. This time there is no bailout. And especially with a madman in the White House.
The 99 Percenters 