Stocks Suffer Worst Santa Claus “Rally” Since 1999 As Crude Plunges Below $50

Stocks Suffer Worst Santa Claus Rally Since 1999

Stocks Suffer Worst Santa Claus “Rally” Since 1999 As Crude Plunges Below $50 (ZeroHedge, Jan 5, 2014)

Dow falls over 300 points as oil prices hit new lows (RT, Jan 5, 2014)

2 thoughts on “Stocks Suffer Worst Santa Claus “Rally” Since 1999 As Crude Plunges Below $50

  1. What is $331 billion to a rigged market like this one? Nothing. I don’t think it is oil, I think it is another aspect of which oil is only one component…..deflation. Deflation is alive and well in the EU, and in the US. Just shop for some consumer items on line, you will be shocked.

    A SoniCare toothbrush which cost $90.00 two years ago can now be had for under $40.00, extra brushes with it cost about a dollar apiece. Go to the drug store and price them, then go online. Falling wages are forcing prices south, and that will include real estate and everything else. The falling wages the greedy guts have so enjoyed are having a strong result…….deflation, a very miserable sort of economic downturn that can take decades to reverse.

    Food prices are still very high, but that is due to falling supply, not demand. Right now, rental prices are still high, but time will take care of that.

    It is time people review the 1930s……….it was an awful time to be alive for millions. Horrible climate, such as the dust bowl of Texas and Oklahoma……my daughter’s nanny was from West Texas, and she was unable to throw away any food for the rest of her life……I had to dispose of any leftovers down the garbage disposal…….she physically could not. She had gone hungry so often to feed her five daughters that it was a physical impossibility for her. She was a wonderful woman, she told me a lot about those days in West Texas, and it was grueling.

    People are in for one hell of a shock. We have one thing they didn’t, Fukushima.

  2. Oil at $49.00, the market is down again today…..but 130 points are meaningless in a market this rigged. I have seen it pushed up a thousand points…..mostly on volumes traded, regardless they were all sales except for the CEOs buying back their stock with borrowed money………………
    The US stock market still shows no reflection of the real economy. I could say that the drop in oil has to do with the drop in usage, millions of Americans have changed their travel schedules for good while laboring with $4-$5 a gallon gas, and they are not going to change them again, they have learned their lesson.

    But, this has to do more with the flooding of the market with oil by OPEC’s refusal to cut production than any reflection of the real economy. The market is totally removed from the real economy, just as our government is removed from the welfare of the people.

    As more people become unemployed, they cut food stamps and other benefits for those who need them, one in six Americans are now on food stamps, and the amount provided isn’t enough to feed them for more than a week or two……far less than the month they are supposed to provide. As a result, over 20% of Americans suffer hunger each month. The market has nothing to do with the people.

    I don’t know what will happen when it becomes clear the US is the isolated nation, not Russia. I just wish Putin were on our side, he is going to finish off the house of cards that is the west. The debt laden US and EU don’t have a prayer against nations that are actually growing and making money.

    OPECs refusal to cut production was an open act of kicking the petrodollar to the curb. They are very rich, they don’t care if oil goes to $40.00 if it means the downfall of the US stranglehold on the world economy.

    The US replaced diplomacy with bullying.
    They abused the standing of the world reserve currency by printing nonstop, and I knew the world would find a way around it……..the US destroyed Iraq for voicing it openly, so they started small, and quietly built a world economy around the one the US thinks it controls.

    Technology was used to replace the need for a world reserve currency. For the first time in centuries, nations could trade with each other using their own currency. Technical systems translate the value of each currency, making the need to convert to any other currency obsolete.

    It started in Venezuela with Hugo Chavez, and his introduction of the first electronic currency, the Sucre, for the use of the South American Trade Alliance. The Sucre translated the value of each member currency, making the need for conversion to the dollar unnecessary. It was so small, it flew under US radar.

    Russia and China picked it up, and slowly and methodically recruited other nations to their open basket of currencies. Turkey, Qatar, Iran, and many middle eastern nations are now trading openly using the new system. Much of Africa, their emerging economies including South Africa, much of South and Central America, including Brazil, Canada, India, Japan, Australia and New Zealand and many others I cannot readily recall have all dumped the dollar.

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