Dow Plunges 700-800 Points

 

Stocks Soar 450 Points Even As US Debt Exceeds GDP

 It's hard to believe that this is news that would lead stocks to rally to a fresh new all-time record high, but it has. The Wall St Journal today has an article with the below headline:

The Wall St Journal says that, "U.S. government debt is on track to exceed the size of the economy for the 12 months ended Sept. 30, a milestone not hit since World War II." The US is taking on a staggering amount of debt this year, and the total is more than the entire amount of GDP for the year! This is a calamity in the making!

Market Pros Expect a Crash? How Dare They!

 In an article on Marketwatch today, Mohamed El-Erian, Allianz’s chief economic adviser, explains that “...the seemingly endless rally… gives the impression that prices are endorsed and supported by the entire professional investment community.... After all, "he continues, "despite the vocal concerns over valuations having split away from underlying corporate and economic fundamentals, few fund managers have been willing to challenge the market by placing outright shorts. “