Michael Snyder, the author of The Economic Collapse Blog, has been bearish across different asset classes for a long time now and the recent months prove, with high probability, his predictions could be extremely accurate this time. In his latest piece he says the following: After enduring their worst August in 17 years, U.S. stocks are … Continue reading
By Michael Snyder After enduring their worst August in 17 years, U.S. stocks are off to their worst start to a September in 13 years. Just yesterday, I declared that we would be entering the “danger zone” this month, and it didn’t take long for the action to begin. Historically, this month is the worst month … Continue reading
The People’s Bank of China has lowered its interest rate for the fifth time since November boosting European stocks higher in afternoon trading. The one-year lending rate has been reduced by 25 basis points to 4.6%, which is record low for China, according to Bloomberg. Lu Ting, chief economist at Huatai Securities Co. said the … Continue reading
“Chinese shares plummeted to extend the steepest four-day rout since 1996 on concern the government is abandoning market support measures,” Bloomberg reports. According to the news agency: The Shanghai Composite Index tumbled 7.6 percent to 2,964.97 at the close, sinking below the 3,000 level for the first time in eight months. The gauge has … Continue reading