{"id":35637,"date":"2018-06-30T09:21:46","date_gmt":"2018-06-30T14:21:46","guid":{"rendered":"http:\/\/olduvai.ca\/?p=35637"},"modified":"2018-06-30T10:29:58","modified_gmt":"2018-06-30T15:29:58","slug":"epocalypse-ahead-on-highway-to-hell-for-global-economy-and-us-stock-market","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=35637","title":{"rendered":"Epocalypse Ahead on Highway to Hell for Global Economy and US Stock Market"},"content":{"rendered":"

Epocalypse Ahead on Highway to Hell for Global Economy and US Stock Market<\/a><\/h3>\n
\n

\"2017<\/p>\n

First I said I believed the US stock market would plunge in January, but I also said that January would not<\/em> be the biggest drop, but just the first plunge that begins a global\u00a0economic\u00a0collapse: <\/i>the big trouble for the economy and the stock market, I said, would show up in \u201cearly summer.\u201d That\u2019s when the stock market crash that began in January would take its second big leg down, and global economic cracks would become big enough that few could deny them.<\/p>\n

(Now I\u2019ll add a prediction \u2014 that even worse will unfold in the fall and early winter \u2026 unless<\/em> summer becomes so bad that central banks rapidly reverse course on unwinding their balance sheets and raising interest; but I think they will stay their promised courses into the fall and winter and headlong into a global economic crisis<\/em>.)<\/strong><\/p>\n

The stock market did plunge in January and on into February, with the Dow eventually taking its largest single-day point drop in its long history. That drop busted the Trump Rally, and the market never recovered<\/strong>, leaving US stocks (and stocks all over the world) shattered in \u201ccorrection territory\u201d for half a year.<\/strong><\/em> With a half a year for perspective now, here is a look back what that event did:<\/p>\n

\n

\"\"<\/a><\/p>\n

Global Stocks (except US), US stocks, and too-big-to-fail bank stocks. Where did the market trend abruptly change for all?<\/p>\n<\/div>\n

I\u2019ve waited patiently through the first half of the year to talk in depth about how my January prediction faired because I felt we need many months in order to discern whether a trend has really been broken.<\/p>\n

\u2026click on the above link to read the rest of the article\u2026<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Epocalypse Ahead on Highway to Hell for Global Economy and US Stock Market First I said I believed the US stock market would plunge in January, but I also said that January would not be the biggest drop, but just the first plunge that begins a global\u00a0economic\u00a0collapse: the big trouble for the economy and the […]<\/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":[11574,20741,2731,11042,2442],"class_list":["post-35637","post","type-post","status-publish","format-standard","hentry","category-economics","tag-david-haggith","tag-global-economic-collapse","tag-stock-market-crash","tag-the-great-recession-blog","tag-us-stock-market"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35637","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=35637"}],"version-history":[{"count":3,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35637\/revisions"}],"predecessor-version":[{"id":35640,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/35637\/revisions\/35640"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35637"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35637"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35637"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}