New Stock Market Crash

 

There has been a stock market crash. It's not being reported very widely in mainstream news, but it has been described as one of the worst ever, in terms of wealth destruction. The losses last week, culminating in a dramatic slump on Monday, are estimated to be 3.8 trillion dollars US. NASDAQ, the largest Wall Street market, dropped over a thousand points, something that's never happened before in its fifty-five year history. The tech sector seems to be the worst hit with the Silicon Valley giants dropping like stones; Microsoft, Amazon, Alphabet (Google), Meta (Facebook) and Apple. I hope readers don't own shares in them! How did this happen? Fingers are pointing at Japan; everybody needs a scapegoat. I'm waiting for Russia to be accused as usual at some point. The Nikkei, the Japanese stock market index, reports that their own markets rose 11% and this caused the instability that led to the Wall Street and City crash. The solution will be immediately offered by the government, of course. They will introduce some kind of emergency monetarist policy involving shifting the interest rates etc. Source: https://apnews.com/article/stocks-markets-nikkei-economy-c6240977e9482bf7207abc53b2a11e58. Dan from the Lotus Eaters says the main problem is that the government is trying to debase currencies in order to ease their national debts. You might argue that such a trick would not work because all the banks have to do is charge them more interest or allow inflation; but those levels are government controlled. What would you do if you could control the interest on your own debt?... Exactly! Government meddling with currency values is the cause of this kind of market instability. He believes this is not a serious crash and the markets will stabilize soon. Source: https://odysee.com/@lotuseaters_com:1/market-implosion!!:4.
 
Styx is less optimistic. He is concerned that this could be the start of a category A economic crisis. Source: https://odysee.com/@Styxhexenhammer666:2/a-world-recession-may-be-beginning:2 and: https://odysee.com/@Styxhexenhammer666:2/the-world-economy-seems-to-be-teetering:7. What does this mean for people who, like me, own no stocks or shares and live by simply selling our labour? It could be bad news if what happened on Monday really is the herald of a global recession. Economic slumps are always a terrible thing for the lowest earners, but in this case it would be hitting us while we're down. The economy has not had the time or energy to grow much since it was carpet bombed by the pandemic restrictions. Prices and bills are still high; wages are still comparatively low. Despite this gloomy prediction, there are also strong signs that the world is improving. The powers-that-were are losing control, which is one of the reasons they are resorting to such risky crises like the aforementioned pandemic. It looks increasingly likely that Trump will be re-elected in November and the European mainland is moving towards populism. Trump will reduce government spending and general economic regulation. He is backed up by Millei in Argentina and Sigathusdottir in Iceland. Hopefully the penny will drop that whenever an economic problem occurs, turning to the parasitic and controlling state and begging them for help is far from the ideal solution.
See here for more information: https://hpanwo-voice.blogspot.com/2016/10/deutsche-bank-collapse.html.
And: https://hpanwo-voice.blogspot.com/2020/10/alien-invasion-to-save-economy.html.