vacillating between 350 and 400 (approx) down ... been that way for a couple of hours ..... it’s only 10:30 AM
The sign to cash in your chips at the Dow Jones casino was when China suddenly devalued its currency not once but twice in 48 hours. Failure to stay awake at the table was a huge mistake.
Bumpitty-bump
Will the market go up? Or down?
Yes.
My takeaway: if you have cash, don’t buy assets just now.
Black Monday...maybe. Overall feeling, not yet.
If they haven’t already, the Fed will start buying stock index futures
The free market is dead. We have a centrally-planned, crony-capitalist, fascist, politicized financial and monetary system
Remember, according to the Tax Foundation, we are spending US$1 TRILLION per year (as of 2014) in compliance and economic opportunity costs for the current income tax system. And some economists estimate over US$15 TRILLION in American owned financial assets are sitting in non-US banks for tax avoidance reasons. Radical tax reforms such as the Steve Forbes flat tax proposal from 1996 or the FairTax proposal described in that famous book from 2005 eliminate taxation on bank account interest, capital gains and stock dividend payments, and that means all the tax incentive in the world to keep savings and capital formation in the USA as much as possible. And that means stronger banks and a stronger stock market, things that will drive a roaring American economy (and eventually "float the boat" of other economies around the world).
In short, the Federal Reserve's play time is over; we now need fundamental overhauls of national taxation and business regulations for a real economic recovery and future growth.
By 11:30 Dow futures have gone from more than 5% down to 2.6%. Speculation is Fed intervention was involved, buying up fallen stocks to slow/raise the crash. ... and people wonder why there is “income inequality” (aka super-wealthy keep getting more so): those who have the money and play such games KNOW such “safety valves” are in place, so as the market crashes they BUY! BUY! BUY! (remember, those recorded falling prices are noted only because someone BOUGHT stocks at that price) and sell minutes later when the “pressure valves” or whatever gov’t-meddling recovery mechanisms engage, making some people a he11 of a lot of money very fast. Lo, the Federal Reserve conjures cash out of empty ledgers, and buys overvalued stocks from quick-flip specialists who understand “buy low, sell high”.