The full speed look at Blaine Perkins crash is INTENSE pic.twitter.com/ogO3Tejq9f
— Rubbin is Racing (@rubbinisracing) April 22, 2023
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WOMAN DRIVER?
Tag: Crash
“It Smells Like Panic”: This Is Not What Powell Had In Mind…
Commenting on the Fed’s emergency rate cut, which while expected was extremely unusual and only the first one since the financial crisis, Obama’s chief economic advisor Larry Summers laid out the problem Powell is facing, especially now that the Fed appears to have lost much of its remaining credibility:
Fed Risks ‘Scaring People’ With Rate Cut. My interview today on the Fed’s emergency rate-cut on @BloombergTV.
When you have limited ammunition you have to conserve it. The Fed has limited ammunition with interest rates so low. Interest rates don’t cure the #coronovarius and interest rates don’t repair supply chains.
While Larry Summers’ opinion has been repeatedly discredited over the years, he does bring up a valid point: why is the Fed wasting half of all of its ammo just to delay what is now an inevitable crash, and why scramble with an “intermeeting” cut when it could have jawboned for the next two weeks and waited until the regular March 18 FOMC meeting. If anything, it would at least eliminate the sense of Fed panic from the equation.
Instead, as it stands “it smells like panic” as more than one Wall Street veteran put it.
Continue reading ““It Smells Like Panic”: This Is Not What Powell Had In Mind…”
CYBER MONDAY SALE
Cyber Monday Sale in Crypto. % Below all-time high…
ICON: -98%
Qtum: -98%
Cardano: -97%
NEM: -97%
Lisk: -97%
Bitcoin Gold: -96%
NEO: -96%
TRON: -96%
Bitcoin Cash: -95%
IOTA: -95%
Dash: -94%
zCash: -93%
Ethereum: -92%
Litecoin: -92%
XRP: -90%
Monero: -88%
EOS: -85%
Bitcoin: -80%— Charlie Bilello (@charliebilello) November 26, 2018
Doug Casey on What Will Trigger Bitcoin’s Collapse
Justin’s note: Central bankers are losing sleep over bitcoin.
And they should be. It’s a direct threat to their monopoly on money.
Because of this, they’re trying everything they can to crush bitcoin.
They’re urging people not to buy it. They’re calling it a bubble. They’re even talking about launching their own rival digital currencies.
Regular readers know that I think these efforts will fail. But I couldn’t help but wonder what Doug Casey thinks of this. So, I called him up a few days ago to get his take…
Justin: Doug, governments around the world seem to be waging a war on bitcoin.
Do you expect to see more of this in the years ahead?
Continue reading “Doug Casey on What Will Trigger Bitcoin’s Collapse”
QOTD: 30 YEARS AGO TODAY
Thirty years ago today was the biggest single day stock market crash in history. An equal size crash today would be over 5,000 Dow points.
#1 – Could a crash of this magnitude happen again?
#2 – The stock market valuation today is far higher than 1987 and on par with 1929 and 2000. Will we experience at least a 20% bear market decline within the next year?
#3 – Has the Federal Reserve and Wall Street figured out how to keep the stock market at a permanently high plateau?
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If This is 1929…
Guest Post by Michael Batnick
Eight days before the market bottomed in July 1932, Ben Graham wrote an article in Forbes, Should Rich But Losing Corporations Be Liquidated? In it he wrote, “More than one industrial company in three selling for less than its net current assets, with a large number quoted at less than their unencumbered cash.” At a time when the CAPE ratio was just above 5, many businesses were worth more dead than alive.
The Elites Are Privately Warning About A Crash
Authored by James Rickards via The Daily Reckoning,
Many everyday citizens assume powerful global financial elites operate behind closed doors in secret conclaves, like the scene of a Spectre board meeting in the recent James Bond film.
Actually, the opposite is true. Most of what the power elite does is hidden in plain sight in speeches, seminars, webcasts and technical papers. These are readily available from institutional websites and media channels.
It’s true that private meetings occur on the sidelines of Davos, the IMF annual meeting and G-20 summits of the kind just concluded. But the results of even those secret meetings are typically announced or leaked or can be reasonably inferred based on subsequent policy coordination.
What the elites rely on is not secrecy but lack of proficiency by the media.
Continue reading “The Elites Are Privately Warning About A Crash”
INTO THE ABYSS
Look out below. Auto sales in March came in far below the lowest prediction by the “experts”. This is going to be fun. Get out the popcorn.
Restaurant Sales And Traffic Tumble
by Tyler Durden
Mar 11, 2017 10:28 AM
There appeared to be a glimmer of hope for the restaurant industry last month, when BlackBox Intelligence’s TDn2K titled its most recent Restaurant Industry Snapshot: “Flat Sales, Welcome Change for Restaurant Industry in January.” In the report, it said that “while same-store sales growth was flat (zero percent) in January, it represented a welcome break from the ten consecutive months of negative sales growth experienced by the industry through the end of last year.” That finding, however, was refuted by a recent Reuters/Ipsos opinion poll which found that one-third of the 4,200 adult respondents said they were eating in restaurants less often than three months ago. The poll was conducted in the second half of January. Of them, 62% cited cost as the primary reason.
The modest recovery was also denied by the most recent Restaurant Performance Index report by the National Restaurant Association, which lamented that “same-store sales and customer traffic levels remained soft” in January, which kept the Current Situation Index (tracking same-store sales, traffic, labor and capital expenditures) at 98.6 in January, the fourth consecutive month of contraction, and tied for the worst print in four years.
Is Buyback Trickery Giving Us False Hope in the Market?
From Birch Gold Group
Over the past 5 years, companies have dumped over $2.1 trillion into a popular stock-boosting strategy that does nothing to help their businesses, but instead puts the economy in danger. The short-term payoff for using this strategy is huge, and it could be largely responsible for the market rally that we’ve witnessed over the past few years. But, recent news reveals that corporations could be taking it too far — and we all could pay the consequences.
It’s Amazing This Is Even Legal?
Imagine if there were a way for all companies to bolster the price of their own stock and make themselves look more profitable, regardless of how well they’re actually doing. It would make it impossible to know how safe the market really is, right?
Continue reading “Is Buyback Trickery Giving Us False Hope in the Market?”
Brandon Smith Warns The System Is Crashing: “Prepare For Bank Confiscations, Shortages, Insurgency”
Submitted by Mac Slavo via SHTFPlan.com,
Military, police and homeland security units have all long been preparing for riots and widespread civil unrest during a prolonged collapse.
What is the anatomy of a breakdown?
The past eight years have been extremely difficult for the real economy. Central bank intervention has propped up the stock market at the expense of the main street economy, at the expense of middle class security, at the expense of jobs.
And everyone knows that game can’t continue. The question is how it will play out, and how long the game will be.
The Federal Reserve finally announced rate hikes – planning one incremental increase after another throughout the coming Trump Administration.
THAT’S GONNA LEAVE A MARK
BALTIMORE (WJZ) — A crash involving dozens of vehicles and a tractor-trailer shut down Interstate 95 in South Baltimore Saturday morning.
At least two people were killed and 11 were injured in the icy pileup, three of those seriously.
Emergency crews at the scene said at least 40 vehicles and one tanker were involved in the crash near the exit for Washington Boulevard on I-95 south just before 5 a.m.
Traffic was at a stand still for hours while crews assessed the situation. Authorities say the tanker went off the bridge and fell down to the street below.
We’re asking people that are stranded in their cars at this time, if they would, please shelter in place within your cars, remain warm,” said Baltimore City Fire Chief Roman Clark. “We’re also asking travelers to avoid 95 at all costs.”
Crews from Howard County and Baltimore County were called to the scene to help.
The stock market’s oldest indicator just flashed red
Guest Post by Brett Arends
I hate to rain on this parade. But the latest lurch upwards in stock prices has just taken market valuations up into the skybox levels, according to the market timing measure with the longest pedigree on Wall Street. It’s just gone from flashing amber to flashing red — meaning, if it’s right, that there is now a significant and rising risk of a crash, and a bigger risk of simply very poor returns.
This has little to do with President-elect Donald Trump, by the way — and much more to do with President Ulysses S. Grant and all his successors.
Wall Street’s jump this week has taken the S&P 500 SPX, +1.32% to an eye-watering 27.9 times the corporate earnings of the past 10 years. That’s according to data compiled by Yale finance professor Robert Shiller and some simple math.
Continue reading “The stock market’s oldest indicator just flashed red”
Housing Starts Crash Most In 5 Years To 18-Month Lows
by Tyler Durden
Oct 19, 2016 8:38 AM
Following August’s disappointing dump in Housing Starts (and Permits), September data is an utter disaster. Against expectations of a 2.9% rise, Housing Starts plunged 9.0% in September to 1.047mm – the weakest since March 2015. Year-over-year, Starts have crashed almost 12% – the most since April 2011, driven by a collapse in multi-family housing. Permits offered some hope for the future (although current starts suggests historical permits were a weak indicator).
For the first time since June 2014, Housing Starts fell for 2 months in a row, crashing 12% YoY…
Single-family starts rose 8.1% on the month and 5.4% on the year as multi-family collapsed 38% MoM and 40.8% YoY.
So the silver lining of more single-family homes leaves more pressure on renter nation which is helped, perhaps, by a 16.8% MoM rise in Multifamily housing permits.
Are Investors Idiots?
Submitted by Bill Bonner of Bonner & Partners (annotated by Acting-Man’s Pater Tenebrarum),
Black-and-Blue Crash Alert Flag
Let us begin the week “on message.” The Diary is about money. Today, we’ll stick to the subject. Old friend Mark Hulbert has done some research on the likelihood of a crash in the stock market.
Ye olde tattered Crash Alert flag… should it be unfurled again?
Writing in Barron’s, he points out that the risk – or, more properly, the incidence – of crashes, historically, has been very small:
“[…] consider that the 1987 and 1929 crashes were the two worst one-day plunges since the Dow Jones Industrial Average was created in 1896. Given that there have been more than 32,000 trading sessions since then, the judgment of at least this swath of history is that in any given six-month period, there is a 0.79% chance of a daily crash that severe.
And there’s no reason to believe that the frequency of future crashes will be significantly higher. Xavier Gabaix, a finance professor at New York University, has derived a crash-frequency formula that he believes captures a universal trait of all markets, not just equity markets or those in the U.S. According to that formula, the odds of a 12.8% crash in any given six-month period are 0.92%, almost as low as the actual frequency in the U.S. stock market over the last century.
This means that the average investor over the last three decades has believed a severe crash to be more than 24 times more likely than U.S. history would suggest, and that investors currently believe the risks to be 28 times more likely.”
Whoa! Are investors idiots, or what? Maybe not. Your editor is among those who happily over-estimate the risk of a crash. He expected one in 1998…and again in 1999…and when it came in 2000, he was as surprised as anyone.Then, prices went up again. And again, he raised the old black-and-blue Crash Alert flag. In 2005… in 2006… in 2007… finally, in 2008, he got what he expected. And now that the market has recovered again, he expects another one.
I WONDER WHY THE EGYPTIAN AIRLINER CRASHED
