Looks like the stock market is about to get a dose of reality. News that Apple is cutting iPhone production by 30% seems to have jarred traders that the recession is on.
Plenty of distractions in the news:
-Oregon standoff
-European immigration problem
-North Korea testing a Hydrogen bomb
-Star Wars
-Matin Shkreli, Pharma CEO bad boy
-Economic stats that don't mesh with reality
Edit1: -Iran and Saudi Arabia squabble
-Obama's Gun control issues
Edit2: Swiss Army General warns its citizens that need to arm themselves.
Edit3: 11pm, 6 Jan 15, China's Market crashes in 15 min after opening, closes down 7% for the day. World markets will be in trouble tomorrow morning.
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pray_the_gay_away ago
This is about to be the biggest, most devastating economic crisis in the history of the planet. It will be one marked by sovereign debt crisis in developing markets which will likely cause about half of the world's currencies to collapse.
Checkout this sovereign default probabilities calculator and see for yourself: https://www.dbresearch.com/servlet/reweb2.ReWEB?rwnode=DBR_INTERNET_EN-PROD$NAVIGATION&rwobj=CDS.calias&rwsite=DBR_INTERNET_EN-PROD
dontwatchtv ago
Yup, every country has been borrowing and printing money like crazy, At some point they will want to crash the system and start over.