The Dow Falls 274 Points As ‘Eclipse Fever’ Hits The Financial Markets
The Dow Falls 274 Points As ‘Eclipse Fever’ Hits The Financial Markets by Michael Snyder – The Economic Collapse Blog
Have we now entered a time of major financial shaking? On Thursday, the Dow Jones Industrial Average was down 274 points. The was the largest decline for the Dow since May, and high yield bonds were down dramatically as well. Many are blaming the terror attack in Barcelona and “instability in the White House” for the downturn, but could “eclipse fever” also be a factor? The closer that we get to the solar eclipse on August 21st, the weirder people seem to be getting. You will see what I am talking about below.
“Since the April assessment, vulnerabilities associated with asset valuation pressures had edged up from notable to elevated, as asset prices remained high or climbed further, risk spreads narrowed, and expected and actual volatility remained muted in a range of financial markets.”
Even the Fed is warning that we are in a bubble, and it is just a matter of time until that bubble bursts.
And anyone that is paying attention should be able to see the red flags all around us. In fact, we have just witnessed the most “Hindenburg Omens” that we have seen since November 2007. The technical indicators are absolutely screaming that a major downturn is dead ahead, and John P. Hussman is encouraging everyone to be cautious and to “consider watching from a safe location”…
Given obscene valuations, lopsided bullishness, and (importantly) clearly deteriorating internals, consider watching from a safe location.
We shall see what happens, but I tend to very much agree with Hussman.
Meanwhile, the closer that we get to August 21st, the crazier people seem to be getting. The following comes from USA Today…
As citizen scientists collectively nerd-out ahead of Monday’s total solar eclipse, rogue observers of the spooky and weird are generating theories that the celestial event could usher in aliens, boost sightings of “interdimensional” creatures and perhaps even plunge us toward world destruction.
None of those things are going to happen, but there are some very odd things about this eclipse that are definitely worth noting.
In a previous article, I noted that the first major city in the United States that the eclipse will cross is named Salem. Well, it turns out that the eclipse will actually cross a total of seven cities named Salem, and of course “Salem” is short for “Jerusalem”.