The Federal Reserve has decided not to come to the rescue this time.
All of the economic numbers tell us that the economy is slowing down, and on Wednesday Fed Chair Jerome Powell even admitted that economic conditions are “softening”, but the Federal Reserve raised interest rates anyway.
As one top economist put it, raising rates as we head into an economic downturn is “economic malpractice”
. They know that higher rates will slow down the economy even more, but it isn’t as if the Fed was divided on this move. In fact, it was a unanimous vote to raise rates. They clearly have an agenda, and that agenda is definitely not about helping the American people.
Early on Wednesday, Wall Street seemed to believe that the Federal Reserve would do the right thing, and the Dow was up nearly 400 points. But then the announcement came, and the market began sinking dramatically.
The Dow Jones Industrial Average lost 720 points in just two hours
, and the Dow ended the day down a total of 351 points. This is the lowest that the Dow has been all year, 60 percent
of the stocks listed on the S&P 500 are in bear market territory, and at this point approximately four trillion dollars of stock market wealth has been wiped out.
We haven’t seen anything like this since the last financial crisis.
This is officially the worst quarter for the stock market since the fourth quarter of 2008, and it is the worst December that Wall Street has experienced since 1931
There has been a financial calamity every 7 years since 1913 when the FED was created. (rather than God is punishing America like this vid promotes, the dates below are from the vid)
7 year cycle
5 events 1973, 1980, 1987, 2000, 2007 financial history
1929 stock market crasjh
1870 America become a financial power
1945 plan to build new financial tower with america being chosen.
1966 wtc construction begins
1973 wtc construction finished
22001 wtc destroyed
Rise of the US
1914-1918 wall st collapse America in WWI
1939 -45 WWII really it started in 1938 and ended in 1945, 7 years. Sept 7
1947-1991 Cold War
Eluid 29 specific day of stock market crash.