{"id":62665,"date":"2022-05-17T17:50:37","date_gmt":"2022-05-17T22:50:37","guid":{"rendered":"https:\/\/olduvai.ca\/?p=62665"},"modified":"2022-05-17T17:50:37","modified_gmt":"2022-05-17T22:50:37","slug":"nowhere-to-hide","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=62665","title":{"rendered":"Nowhere to Hide"},"content":{"rendered":"<h3><a href=\"https:\/\/dailyreckoning.com\/nowhere-to-hide-2\/\">Nowhere to Hide<\/a><\/h3>\n<p>Investors don\u2019t need to be told about the recent stock market crashes. The Dow Jones index is down 12.5% since early January. The S&amp;P 500 is down 16.1% in the same period. The Nasdaq Composite is down an even more spectacular 26.5% this year. It lost more ground today.<\/p>\n<p>This puts the Nasdaq solidly into a bear market (down 20% or more from an interim peak) while the Dow and S&amp;P 500 are both in correction territory (down 10% or more from an interim peak).<\/p>\n<p>The Dow was up slightly today, but the S&amp;P was down again. On current trends, the S&amp;P 500 may break into bear market territory in a matter of days with the Dow not far behind.<\/p>\n<p>This collapse coming so soon after the market crash of March 2020 may surprise some investors, although this outcome was predicted in my last book\u00a0<a href=\"https:\/\/www.amazon.com\/New-Great-Depression-Winners-Post-Pandemic\/dp\/0593330277\/ref=sr_1_1\" target=\"_blank\" rel=\"noopener\"><b><i>The New Great Depression<\/i><\/b><\/a>, published last year.<\/p>\n<p>We could get into the reasons for the recent market swoon, like the Fed\u2019s taking away the punch bowl, but the reasons almost don\u2019t matter at this point.<\/p>\n<p>What truly is surprising is that the stock market is not alone in its recent dismal performance.<\/p>\n<p class=\"centered subhead\"><b>The Great Crypto Crash<\/b><\/p>\n<p>U.S. Treasury bonds, foreign currencies, gold and other commodities have all declined sharply side by side with stocks. There are good reasons for this, including the prospect of a recession that could cause stocks, gold and commodities to fall in sync.<\/p>\n<p>Still, the market carnage doesn\u2019t end there. The biggest collapse among major asset classes is in Bitcoin and other cryptocurrencies.<\/p>\n<p>The price of Bitcoin has fallen over 55% since last November, when Bitcoin peaked at around $69,000. As I write this article, Bitcoin is trading at $29,647.<\/p>\n<p>\u2026click on the above link to read the rest of the article\u2026<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Nowhere to Hide Investors don\u2019t need to be told about the recent stock market crashes. The Dow Jones index is down 12.5% since early January. The S&amp;P 500 is down 16.1% in the same period. The Nasdaq Composite is down an even more spectacular 26.5% this year. It lost more ground today. This puts the [&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":[11023,303,13599,534,2731,3650],"class_list":["post-62665","post","type-post","status-publish","format-standard","hentry","category-economics","tag-daily-reckoning","tag-fed","tag-james-rickards","tag-monetary-policy","tag-stock-market-crash","tag-us-federal-reserve"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62665","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=62665"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62665\/revisions"}],"predecessor-version":[{"id":62666,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/62665\/revisions\/62666"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=62665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=62665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=62665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}