KW: Nervousness grips world markets. Dent Research predicts a massive decline with the DOW to lose all the way down to 6,000. In a somewhat controversial predictions he says ‘Brace yourself for the most devastating market crash ever in “the greatest political and economic revolution since the advent of democracy.” That’s the dire alert from colorful, controversial prognosticator Harry S. Dent Jr., in an interview with ThinkAdvisor.’ If he is only a quarter rights things will get messy but we don’t make any predictions as we don’t have the skill to do so. We’re just reporting what is not reported in mainstream and I am personally no fan of Harry Dent and his minnions at Dent Research. Is this a start?
A gold bug and trend predictor Gerald Celente is quoted as saying… Gerald Celente: The first shots of the “Economic 9/11” terror strike we warned of in our 19 September Trend Alert have been fired. Equity markets across the globe are in turmoil and economies are sinking into recession, declining and/or stagnating. No clearer example than China. Not only has the world’s second largest economy’s growth slowed to Panic of ’08 levels, the Shanghai Composite Index, down some 30 percent, keeps falling despite top government officials, regulators and bank heads who try to talk the market up … and prop it up by its National Team that has an established history of buying up equities to stop the selloff. And while China’s markets are tanking and its growth slowing, with a debt-to-GDP ratio of 300 percent, it’s drowning in debt … as is much of the world… With some $250 trillion in global debt, much of it dollar based, nations whose economies, markets and currencies are declining, cannot bear the debt burden of progressively rising U.S. interest rates. The higher U.S. rates rise and the lower their currencies fall, the heavier the cost burden to service the debt.
And so what happend today?
The Dow plummeted by 600 points as the closing bell approached while the S&P 500 fell by 84 points.The slouch means that the Dow has now erased all of its 2018 gains.