{"id":15495,"date":"2015-12-21T11:41:12","date_gmt":"2015-12-21T16:41:12","guid":{"rendered":"http:\/\/olduvai.ca\/?p=15495"},"modified":"2015-12-21T11:41:30","modified_gmt":"2015-12-21T16:41:30","slug":"the-rate-hike-stock-market-crash-has-thrown-gasoline-onto-an-already-raging-global-financial-inferno","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=15495","title":{"rendered":"The Rate Hike Stock Market Crash Has Thrown Gasoline Onto An Already Raging Global Financial Inferno"},"content":{"rendered":"<div class=\"post-headline\">\n<h3><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-rate-hike-stock-market-crash-has-thrown-gasoline-onto-an-already-raging-global-financial-inferno\" target=\"_blank\">The Rate Hike Stock Market Crash Has Thrown Gasoline Onto An Already Raging Global Financial Inferno<\/a><\/h3>\n<\/div>\n<div class=\"post-bodycopy clearfix\">\n<p><a href=\"http:\/\/theeconomiccollapseblog.com\/archives\/the-rate-hike-stock-market-crash-has-thrown-gasoline-onto-an-already-raging-global-financial-inferno\/inferno-public-domain\" rel=\"attachment wp-att-9593\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-9593\" src=\"http:\/\/theeconomiccollapseblog.com\/wp-content\/uploads\/2015\/12\/Inferno-Public-Domain-460x377.jpg\" alt=\"Inferno - Public Domain\" width=\"460\" height=\"377\" \/><\/a>If the stock market crash of last Thursday and Friday had all happened on one day, it would have been the 7th largest single day decline in U.S. history.\u00a0 On Friday, the Dow Jones Industrial Average was down 367 points after finishing down 253 points on Thursday.\u00a0 The overall decline of 620 points between the two days would have been the 7th largest single day stock market crash ever experienced in the United States if it had happened within just one trading day.\u00a0 If you will remember, this is precisely\u00a0<a title=\"what I warned would happen\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/december-14th-to-18th-a-week-of-reckoning-for-global-stocks-if-the-fed-hikes-interest-rates\">what I warned would happen<\/a>\u00a0if the Federal Reserve raised interest rates.\u00a0 But when news of the rate hike first came out on Wednesday, stocks initially jumped.\u00a0 This didn\u2019t make any sense at all, and personally I was absolutely stunned that the markets had behaved so irrationally.\u00a0 But then we saw that on Thursday and Friday the markets did exactly what we thought they would do.\u00a0 The chief economist at Gluskin Sheff, David Rosenberg, is calling the brief rally on Wednesday \u201c<a title=\"a head-fake of enormous proportions\" href=\"http:\/\/www.usatoday.com\/story\/money\/markets\/2015\/12\/18\/stocks-friday\/77546286\/\" target=\"_blank\">a head-fake of enormous proportions<\/a>\u201c, and analysts all over Wall Street are bracing for what could be another very challenging week ahead.<\/p>\n<p>When the Federal Reserve decided to lift interest rates, they made a colossal error.\u00a0 You don\u2019t raise interest rates when a global financial crisis\u00a0<a title=\"has already started\" href=\"http:\/\/theeconomiccollapseblog.com\/archives\/this-is-what-a-financial-crisis-looks-like\">has already started<\/a>.\u00a0 That is absolutely suicidal.\u00a0 It is the kind of thing that you would do if you were trying to bring down the global financial system on purpose.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The Rate Hike Stock Market Crash Has Thrown Gasoline Onto An Already Raging Global Financial Inferno If the stock market crash of last Thursday and Friday had all happened on one day, it would have been the 7th largest single day decline in U.S. history.\u00a0 On Friday, the Dow Jones Industrial Average was down 367 [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[11150,5983,6061,6063,11151,430,431,4901,1948,1138,2731,753,7554,11152,11153,11154,860],"class_list":["post-15495","post","type-post","status-publish","format-standard","hentry","category-economics","tag-david-rosenberg","tag-economiccollapseblog","tag-financial","tag-global","tag-gluskin-sheff","tag-interest-rate","tag-interest-rates","tag-michael-snyder","tag-rate-hike","tag-stock-market","tag-stock-market-crash","tag-stocks","tag-the-dow","tag-the-dow-jones","tag-the-dow-jones-industrial-average","tag-the-markets","tag-wall-street"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15495","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=15495"}],"version-history":[{"count":2,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15495\/revisions"}],"predecessor-version":[{"id":15497,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/15495\/revisions\/15497"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=15495"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=15495"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=15495"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}