So, last week the market lost ten percent of the value, an amount measured in the trillions. The Dow dropped over 500 points on Friday alone.
Then this morning, Monday August 24, the market opened and dropped 1,200 more points. At first, the financial media panicked because NO ONE predicted this would happen. More important, in spite of
's woes, there is nothing
going on in the world to trigger such a dramatic loss in value. China
Miraculously, the market recovered 1,000 points in the next hour or so, one of the fastest gains in value in history. Right now, it is down less than 200 points. For perspective, the greatest daily loss in stock market history was 777 points, a level surpassed for a couple of hours today, to the tune of five hundred points more than the previous record.
This morning somebody continued the false sell off of assets to drive the market down the most points in history. When the market bottomed out they started buying back the stock at a record pace at a massive scale. In the process somebody had to make trillions of dollars in order to generate such a massive fall then gain in the market.
Did you make a small fortune in a couple of hours this morning? We know the computer programmed accounts on Wall Street made the gains. We know the wealthy just got a few trillion dollars richer watching us lose billions of dollars.
Since none of this investment capital is going to create jobs, create new businesses, or benefit existing employees of corporate
who did gain? America
The same people that give billions of dollars to our politicians to protect their own tax status and make certain everyone else paid the cost, the very, very wealthy.
has to stop them. Washington, D.C.
Is anybody listening?