CHINESE BLACK MONDAY

If it looks like a crash, walks like a crash, and talks like a crash, it’s a CRASH. The Chinese stock market crashed by 8.5% last night. An equal level crash in the U.S. would be about 1,400 Dow points. I wonder if that would get Jimmy Cramer’s attention and send the CNBC bimbo spokes models into a tizzy.

The Chinese stock market has fallen 20% in one week and it can’t get up. Fraud, corruption, debt, greed, and now massive amounts of fear have combined for an epic debacle. The reverberations are being felt around the world. Welcome to the Fourth Turning Part Deux.

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But don’t you worry. U.S. Stock futures are only down 850 points. That would bring the 5 day loss on the Dow to about 1,900 points, or 11% in one week. Poof!!! Months of ephemeral profits gone in the blink of an HFT supercomputer.

I’m sure the 30 year old Lemmings ( I mean Wall Street investment gurus) have got everything under control. Their HFT super computer algorithms will surely tell them what to do. Here is an actual picture of the Wall Street titans of investing prowess arriving at their trading terminals this morning.

 

You were warned by smart, honest, upstanding analysts, based on facts and history. If you chose not to listen, tough shit. You deserve what you get. When the market rebounds by 400 or 500 points sometime this week. Don’t think that means this is over. The dramatic bounces always happen during raging bear markets. The path is down. The fat lady hasn’t even warmed up yet.

Many investors expected the People’s Bank of China would take some action over the weekend to support the financial system. In the absence of any move, a brutal bout of selling overtook markets. The Shanghai Composite Index SHCOMP, -8.49% closed down 8.5%.

U.S. stock futures came off some of their worst losses, but the direction was still due south early Monday. Futures for the Dow Jones Industrial Average YMU5, -2.35% tumbled 345 points, or 2%, to 16,123, while those for the S&P 500 index ESU5, -2.22% dropped 38.40, or 2%, to 1,932.25. The biggest losses were setting up for tech stocks, with futures for the Nasdaq-100 NQU5, -3.54% down 142 points, or 3.4%, to 4,058.25.

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It’s about damn time. If this is a surprise to ANYONE, I have some oceanfront property in Arizona to sell you. Given the way California is sinking, a foot per year from using their groundwater during the drought, you might want to take me up on the offer.

Admin has been the historian of record these past several years, documenting the house of cards that is known as our market. I think we’re still watching the previews before the movie begins. By the time the movie climaxes, I expect DOW 4,000-5,000. Like the character Ned Ryerson said to Bill Murray in Groundhog Day, “watch out for that next step, it’s a doozy.”

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Connovarn
Connovarn

A sea of red:

http://www.indexq.org/

starfcker
starfcker

But, but, janet’s about to raise rates………

BEA LEVER
BEA LEVER

Popcorn…Get Ya Hot Buttered Popcorn Here Folks……………The Show Is About To Start.

Bout frekkin time.

Satori
Satori

Monday ain’t so hot in the US either

Panic!! All Major US Equity Indices Halted

http://www.zerohedge.com/news/2015-08-24/panic-all-major-us-equity-indices-halted

“Nasdaq was the first to be halted at 0758ET.

The Dow is now down 850 points from Friday’s close and halted…

The S&P 500 Futures is halted for the first time in history.”

Beano
Beano

What are you all crying about?? It was lucky to even gone up!!!

Useless Eater
Useless Eater

I don’t understand, Administrator. I have been watching that deer eat popcorn for six hours and he hasn’t left to take a dump yet – let alone get a drink of diet soda. I just don’t get it. How is it possible? He must know the Pope or something.

Maggie
Maggie

I’ve been watching it for almost a year!

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