- Mon Aug 24, 2015 4:01 pm
#61994
China's Shanghai Index fell 8.49% Monday, pushing investors to safe-haven investments like gold. The decline wiped out all the benchmark's year-to-date gains, pushing it into negative territory. At its June peak, the index was up a whopping 60%. Gold prices jumped and are expected to take off as other investments sink.
The sell-off sparked a painful plunge in equities across Asia, Europe, and the United States.
The Dow Jones Industrial Average sank more than 1,000 points, or 6%, in early trading. It was the worst open for the index since the financial crisis. The biggest drop for the benchmark was 777 points, or 7%, on Sept. 29, 2008.
Obama's bubble is bursting earlier than he had hoped.
Advice on the looming crash, No.1: get hard cash and gold in a safe place now; don't assume banks & cashpoints will be open, or bank cards will work,”
“Crash advice No.2: do you have enough bottled water, tinned goods & other essentials at home to live a month indoors? If not, get shopping.
“Crash advice No.3: agree a rally point with your loved ones in case transport and communication gets cut off; somewhere you can all head to. Expect massive looting and home invasions, be prepared to protect your family, the police will not be not be able to handle all the calls and will have their own families to care for, you will be on your own for an extended period of time. ”
- By johnforbes
- By brandon