How to Survive a Stock Market Crash
Last week, our stock market began to freefall. By Friday, August 21, the market was down more than 1300 points. Over the course of two days, it dropped further than any single-day crash in American history.
But it wasn’t just the US stock market that had a bad week. According to Zero Hedge, markets across the globe are going to heck on a greased slide:
- 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
Stock market crashes are taking place concurrently in 23 different countries.
Updated to add: The stock markets of Saudi Arabia, Dubai, Abu Dhabi, and Qatarhave just crashed.
I’m no financial expert, but this seems like a collection of very, very bad signs. It’s time to sit up, pay attention, and be prepared to take immediate actions.
It’s time to pay attention because this could go one of two ways.
This could just be a tremor before the Big One hits. The economic gurus at the Fed could find another way to kick the can a little bit further down the road, giving you more time to get your personal financial situaion under control. Obviously, things just aren’t right, and you can consider this a warning bell.
Or.
This could be “it”. If there are no creative, fake-money-from-thin-air remedies left, the market will continue to fall when it opens on Monday. If the market is still dropping, it’s game on.
Take these immediate steps if the market continues to fall.
I hate predictions.
I really cringe when people try to make economic predictions or pinpoint specific dates for impending financial disaster. So please realize I’m not making a prediction when I say this.
…click on the above link to read the rest of the article…
