Zero Hedge: “The last time the stock market reached a fevered peak and began to wobble unexpectedly was August 2007. The proximate catalyst back then was the sudden recognition that the subprime mortgage problem was not contained at all, as Bernanke had proclaimed six months earlier. The evidence was the surprise announcement by the monster of the mortgage midway – Countrywide Financial – that it would be taking huge write-downs on its $200 billion balance sheet.”
Opinion: The stock market is the only place on earth that when it is holding a sale, people sell, instead of buy. There seems to be some panic going on and although I get that people love to buy stocks when they are going up, I have never understood why anyone would trust the new stock market (my name) that is being inflated with printed money.
That is new. Quantitative Easing (QE) began in 2008. That means that the US Treasury printed money to buy back its own debt so that interest rates would stay low.
Ironically, the Federal Reserve chose October, known as a month when famous crashes have happened, to end the money printing scheme.
It absolutely cannot end well. If the stock market keeps dropping, the Federal Reserve will undoubtedly begin another stimulus scheme, but probably under a different name.
They should call it the plunge protection team (PPT).
We are 3 weeks away from an election, and that means anything goes. Lies, deception, followed by more outright lies and deception are unfortunately the new world order … perilous times indeed.
We know who is in charge. We know where our real treasure is (Matthew 6:19-21), and He told us what to do ” Go and Make Disciples …” Matthew 28:19-20.