Stock Market Turmoil: Dow Plummets More Than 1,000 Points at Open

16 Comments on Stock Market Turmoil: Dow Plummets More Than 1,000 Points at Open

1. Oil has gone down too.
   However, It is still relatively high at the pump.
   Why?
   It should be less than two dollars again.

2. The chickens have came home to roost. Ruble crashing, China in free fall, emerging markets such as Egypt in turmoil…but no worries Obungles will work his Messiah Magic and make it all better

3. Time to buy? Are you crazy? The Fed has printed almost $4Trillion of Fairy Dust Money most of which has been funneled into the market. Almost every stock is waaaay over valued. The true DOW, taking into account this valueless pumping up by the Fed should be around 6,000. If that.

   There’s a monster game of Musical Chairs happening, world wide. No way I want to be anywhere near that bloodbath. It’s going to be bad enough for us pee-ons.

4. Think about this-we’re told a large part of the real price increases of food and commodities was due to the high price of oil-now that it’s way down how come my grocery bill continues to rise.

   And how come airline fares are still so high?

   Besides it’s $2.20 here in w Texas again and that sure beats $4.50. OTOH, I’d like oil to get back top there as my client base is Midland.

5. I called my financial adviser today and cancelled our meeting.
   He has been after me to put some funds I have in secure bonds, into a more lucrative investment.
   Told him I would prefer to wait until after the crash, he asked me if I had a crystal ball.
   Bet his face was red when I called this morning.
   I’m not making much money on the bonds but I’m not losing any either. Glad the education portfolio for the grands has time to recover.
   Maybe after O’Baja is gone.

6. I thought this wasn’t scheduled to happen until September…

7. This is all about the Communist Chinee continuing efforts to prop up their “stock market” over the last several years, instead of market forces set the real price of stocks.

   I think too that the explosions in Tianjin will prove to be a Black Swan event that, compounded with the continued interventions in the market, will prove to be the start of the dismantling of much of the Chinee manufacturing sector.

   Tianjin is the seventh largest port facility in the world, and is closest to Beijing, which makes it one of the most important ports in China. An enormous chunk of not only the port facility, but the surrounding infrastructure was destroyed, damaged, or heavily contaminated with highly toxic substances even the Chinee aren’t sure about.

   I’ve read that the most likely substance that exploded was a massive quantity of ammonium nitrate. Combined with diesel fuel it makes an excellent industrial explosive. When heated in a controlled atmosphere, ammonium nitrate emits gases that are highly useful in a number of industrial processes, especially polymerization of petrochemical based plastics, and is used in one of the several chemical processes to produce Hydrazine, a powerful solvent, foaming agent for plastics, rocket fuel, air bags, and as an anti-corrosion agent in steam systems. Much of Chinee industry is still steam powered, especially their steel making industry.

   Not only was an enormous amount of valuable chemicals destroyed in the explosions, shipping facilities in the Port have been heavily damaged and disrupted, which over time will prove to be the cause of a dramatic slowdown in what few Chinese imports remain. Think about how many things you see every day with “Made in China” on it. Much of it was likely shipped via Tianjin.

   The Chinee have managed to inflate an enormous bubble in world stock markets and we are now seeing the long overdue results of pretending they were running some kind of free-market economy all this time. More pain to come.

8. I’m not buying anything other than food and ammo until the Shemitah Jubilee has washed away debts.

   You’re being lied to by everyone.

9. “I think too that the explosions in Tianjin will prove to be a Black Swan event that, compounded with the continued interventions in the market ”

   Have seen a few guys say that obama had T-town struck with satellite weapons because the chicoms devalued the currency.

10. that is because most of what we are paying is taxes on that gas. and the idiots here in Wa state just agreed to add more to that amount so that we can pay for useless projects, tool roads on freeways and more stupid bike lanes

11. My understanding is that only about 43-45 cents per gallon is for federal taxes.

12. Wait until it falls, oh, about 60% or so more.

    THEN…keep thinking if the time is right….

13. Please remember
    BONDS = DEBT.

    That means,
    I sure hope you have healthy CASH and GOLD
    allocations as well.

14. You say, “The Chinee have managed to inflate an enormous bubble in world stock markets…”..

    …but please remember that the American Federal Reserve’s
    QUANTITATIVE EASING
    (also known as QE FOREVER!!!!!!!)
    also carries a great deal of rsponsibility for our situation…
    …not to mention the Federal government’s penchant for OVER (AKA: “deficit”) SPENDING.

15. Same here…but only
    ON SALE and WITH COUPONS!
    After all, my name isn’t Trump….
    😉

16. I agree completely Czar of D, our Fed’s QE has seriously screwed up our own financial system here. But Chinee QE has been ongoing, as recently as today, and in magnitude makes the Fed’s actions look trivial in comparison. They pumped in a bunch more money this morning to try and stop the bleeding and that is in large part what triggered the 1000 point drop in the Dow this morning.

    The problem is that the Communist Chinee is to arrogant to stop digging in the enormous hole they are already in. I expect they will probably intervene even more, and make things exponentially worse for everyone.