Another very interesting thing to note is that the largest stock market crash in U.S. history took place on the very last day of the Shemitah year of 2008, and now we are less than a month away from the end of this current Shemitah year.
It is funny how these strange “coincidences” keep happening.
The financial carnage that we witnessed on Friday was truly global in scope. On a percentage basis, Chinese stocks crashed even more than U.S. stocks did. Japanese stocks also crashed, so did stock markets all over Europe, and emerging market currencies all over the planet got absolutely destroyed.
The following is how Zero Hedge summarized what went down…
China’s worst week since July – closes at 5 month lows
Global Stocks’ worst week since May 2012
US Stocks’ worst week in 4 years
VIX’s biggest weekly rise ever
Crude’s longest losing streak in 29 years
Gold’s best week since January
5Y TSY Yield’s biggest absolute drop in 2 years
Even though I specifically warned that this would happen, and have been explaining why it would happen on my website in excruciating detail for months, the truth is that I didn’t expect stocks to start crashing this quickly or this ferociously.
Normally, August is a fairly slow month in the financial world. As I have discussed previously, most of the really noteworthy stock market crashes throughout history have taken place during the months of September and October. So I thought that things wouldn’t start getting really crazy for another few weeks at least.
Financial markets tend to fall much faster than they go up, and I believe that we are moving into a time of extraordinary volatility. There will be huge down days, and there will also be huge up days. In fact, the three largest single day rallies in Dow history happened right in the middle of the financial crisis of 2008. So don’t let what happens on any one particular day fool you.
An absolutely gigantic global financial bubble is beginning to burst, and stocks could potentially fall a very, very long way. For instance, just consider what MarketWatch columnist Brett Arends has just written…
I don’t mean to be alarmist or to induce panic, but someone needs to tell the public that there is a plausible scenario in which the U.S. stock market now collapses by another 70% until the Dow Jones Industrial Average falls to about 5,000.
It is important to keep in mind that Arends is not a “bear” at all. He is a very level-headed analyst that tries to objectively look at all sides of things.
I sincerely hope that global financial markets will stabilize for at least a couple of weeks. But there is absolutely no guarantee that will happen.
So many of the things that I have been warning about on this website and on End of the American Dream are starting to unfold right in front of our eyes. If I am right, this is just the beginning. I believe that we are moving into a time of unprecedented chaos, and our nation is about to be shaken to the core.
Hopefully you have been preparing for the storm that is coming for quite a while and you will not be surprised by what is about to happen.
Unfortunately, the same cannot be said for the vast majority of Americans. Most of them are totally unprepared for what is coming, and they are going to be completely blindsided by the events that will unfold in the months ahead.
The relative calm of the past few years has lulled millions into a false sense of complacency.
If you are one of those that have dozed off, I have a word of warning for you…
Wake up and get ready.
It’s starting.
Don’t know how this will end but if the Chinese market continues to fall, we are in big trouble... Of course this is because our businesses have moved to China along with our imports coming from China so it affects us dramatically.
Maybe Trump has some suggestions...
Hang on and hope...
This article compares downturns by the points lost, not by the category that really counts — the percentage drop. And it compares a two-day drop with massive one-day declines. That’s not comparing oranges to oranges.
In short, not a very helpful or sophisticated analysis.
It’s August. How was the volume?
.... Wow ..... I remember reading somewhere that the cumulative number of "888" was the number of Jesus!
.... Coincidence?
This author says 9th worse, but he doesn’t mean by percentage. Wouldn’t percentage drops be more relevant? This person seems like kind of a piker.
Lol 2.3% drop is bs.
In 1987 the DOW dropped 508 points or over 22% in ONE DAY!
In today’s market that would equate to a downside move for the DOW of approximately 3500 points.
It’s the percentage move which counts.
3 of my 4 biggest stocks went up Friday one of them went up over 12%
Thanks for posting. Interestiing
Yeah, but as a % it wasn’t THAT big. The drops have to be normalized to make comparisons.
Three digit moves (up or down) are not that uncommon now.
And if you add 2+0+1+5 = 8
Time to invoke “Rev. FarrKhan” and his Million Man Math Made Easy with the number 19.
Completely irrelevant, the market was a fraction of the level it is now. What matters is % of the market decline.
This isn't a patch to either the 1987 crash or the 1928 crash (which is mostly beyond living memory). The comparison, to be valid, would not be in points on the Dow but on percentage of market cap lost.
Dramatic BS. What matters is percentage change, not “Dow Points.”
The market dropped something like 700 points in 1987, but it was a 27% decline, because the index was at roughly 2500.
We had a 2 day decline of 5 o 6 percent last week.
There may be more to come, but that’s not what the article is about.
Somebody else’s TV seen in passing this morning talking about cheetah wood’s golf game and panda bears.... Happy; Oh they are bubbling...
entertainment value only, as inflation and an already hyped up market contributes to what appears to be a stupendous decline.
sorta like the market going from 5,000 to 10,000 then back to 5,000 and the guy saying “market doubled, then declined only 50%”
This crash was 5%.
God is whispering to us. 888 points in the 8th month. 7 is God’s number, the Perfect number, the number of completion.
8 is man’s number. 8 is excess. 8 is too far. 50 million babies murdered, and their body parts sold on the market. Custom orders for certain body parts, cheerfully filled. We’re nearing judgment.