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Trillions of dollars in market wealth has already been wiped out, and investors are bracing for a chaotic second half of 2022. We truly haven’t seen anything like this since the financial crisis of 2008. The early months of 2020 were volatile due to the eruption of the COVID pandemic, but the Federal Reserve quickly rushed to the rescue.
The Fed poured trillions of dollars into the system, and that spurred a rally that was absolutely breathtaking. But this time around the Fed isn’t going to be riding to the rescue any time soon. The Fed is committed to raising interest rates in a desperate attempt to get inflation under control, and the size of the Fed balance sheet is now being reduced. So there will be no artificial life support for the financial markets for the foreseeable future, and that is really bad news for those that are seeing their portfolios get absolutely monkey-hammered.
Things have been particularly brutal for crypto investors.
Last November, the total global market cap for all cryptocurrencies peaked out at about 3.1 trillion dollars.
Over the weekend, the total global market cap for all cryptocurrencies actually dipped below 850 billion dollars…
The crypto market suffered one of its most dramatic selloffs in years this week as the prices of top cryptocurrencies declined as much as 35% week-over-week as fears of a broad economic recession intensified.
On Saturday, the total global market cap of cryptocurrencies sank below $850 billion as top tokens tumbled.
Poof. More than two-thirds of all “crypto wealth” is already gone.
CNBC is using the word “carnage” to describe what we have been witnessing in the crypto industry, and I think that fits the nightmare that is currently unfolding quite well…
Carnage in the crypto market won’t let up, as token prices plummet, companies lay off employees in waves, and some of the most popular names in the industry go belly up. The chaos has spooked investors, erasing more than $2 trillion in value in a matter of months — and wiping out the life savings of retail traders who bet big on crypto projects billed as safe investments.
It has been estimated that 16 percent of all U.S. adults either own or have owned a cryptocurrency. So a whole lot of people out there are really hurting right now.
Last November, the price of Bitcoin peaked at $68,789.63. As I write this article, it is sitting at $20,170.10.
Last November, the price of Ethereum peaked at $4,891.70. As I write this article, it is sitting at $1,093.40.
I feel really sorry for those that decided to pour their money into cryptos near the peak. Stock investors are also getting pummeled these days. In fact, U.S. retirement accounts have already declined in value by almost three trillion dollars thanks to rapidly falling stock prices…
The U.S. stock market rout that has put U.S. equities in a bear market isn’t just reducing the net worth of billionaires like Elon Musk and Jeff Bezos. It’s also taking a toll on Americans’ retirement savings, wiping out trillions of dollars in value.
The selloff has erased nearly $3 trillion from U.S. retirement accounts, according to Alicia Munnell, director of the Center for Retirement Research at Boston College. By her calculations, 401(k) plan participants have lost about $1.4 trillion from their accounts since the end of 2021. People with IRAs — most of which are 401(k) rollovers — have lost $2 trillion this year.
Stocks have just kept falling and falling and falling.
In fact, the S&P 500 has fallen for 10 of the last 11 weeks…
The S&P 500 posted its 10th down week in the last 11, and is now well into a bear market. On Thursday, all 11 of its sectors closed more than 10% below their recent highs. The Dow Jones Industrial Average fell below 30,000 for the first time since January 2021 this past week.
Cryptos have already collapsed, but stocks theoretically still have a ton of room to keep falling. There are some that are speculating about what will happen if the Dow drops all the way to 20,000, and that would definitely be a crash of historic proportions. Of course the housing market is much larger than the stock market, and that is starting to implode too.
If you can believe it, the total value of the U.S. housing market was valued at 43.4 trillion dollars earlier this year. Unfortunately, mortgage rates are absolutely skyrocketing and that is going to change everything. According to Redfin, home sellers are already dropping their prices at a rate that we have never seen before…
The highest share of sellers on record dropped their list price during the four weeks ending June 12 as mortgage rates shot up to levels not seen since 2008, dwindling the pool of home shoppers.
It is being reported that in some areas of the country home prices have already been reduced by as much as 20 percent. And this implosion is likely to accelerate as the Federal Reserve just pushes interest rates higher and higher and higher.
How long will it be before millions upon millions of U.S. homeowners are underwater on their mortgages just like we saw in 2008? As I warned last week, those that do not learn from history are likely to end up repeating it.
The U.S. economy was almost certainly heading into a recession anyway, but now a crypto crash, a stock market crash and a housing crash all at the same time will accelerate matters greatly.
According to one recent survey, 60 percent of corporate executives expect a recession to begin “in the next 12 to 18 months”…
More than 60% of executives expect a recession in the next 12 to 18 months, according to a survey of CEOs and other C-suite executives conducted by the Conference Board, a business research firm. That’s a stunning increase from the end of 2021, when just 22% of executives forecast a recession.
Sadly, we aren’t going to have to wait that long. As I detailed last week, there are lots of numbers that indicate that a major economic downturn is already here.
It is time to batten down the hatches, because a “perfect storm” has arrived. Global events are accelerating at a frightening pace, and the months ahead are not going to be pleasant.
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About the Author: My name is Michael and my brand new book entitled “7 Year Apocalypse” is now available on Amazon.com. In addition to my new book I have written five other books that are available on Amazon.com including “Lost Prophecies Of The Future Of America”, “The Beginning Of The End”, “Get Prepared Now”, and “Living A Life That Really Matters”. (#CommissionsEarned) When you purchase any of these books you help to support the work that I am doing, and one way that you can really help is by sending digital copies as gifts through Amazon to family and friends. Time is short, and I need help getting these warnings into the hands of as many people as possible.
I have published thousands of articles on The Economic Collapse Blog, End Of The American Dream and The Most Important News, and the articles that I publish on those sites are republished on dozens of other prominent websites all over the globe. I always freely and happily allow others to republish my articles on their own websites, but I also ask that they include this “About the Author” section with each article. The material contained in this article is for general information purposes only, and readers should consult licensed professionals before making any legal, business, financial or health decisions. I encourage you to follow me on social media on Facebook and Twitter, and any way that you can share these articles with others is a great help. These are such troubled times, and people need hope. John 3:16 tells us about the hope that God has given us through Jesus Christ: “For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life.” If you have not already done so, I strongly urge you to ask Jesus to be your Lord and Savior today.
Photo by Ilya Chunin on Unsplash. Article cross-posted from The Economic Collapse Blog.
Most “Conservative” News Outlets Are on the Big Tech Teat
Not long ago, conservative media was not beholden to anyone. Today, most sites are stuck on the Big Tech gravy train.
I’ll keep this short. The rise of Pandemic Panic Theater, massive voter fraud, and other “taboo” topics have neutered a majority of conservative news sites. You’ll notice they are very careful about what topics they tackle. Sure, they’ll attack Critical Race Theory, Antifa, and the Biden-Harris regime, but you won’t see them going after George Soros, Bill Gates, the World Economic Forum, or the Deep State, among others.
The reason is simple. They are beholden to Big Tech, and Big Tech doesn’t allow certain topics to be discussed or they’ll cut you off. Far too many conservative news outlets rely on Google, Facebook, and Twitter for the bulk of their traffic. They depend on big checks from Google ads to keep the sites running. I don’t necessarily hold it against them. We all do what we need to do to survive. I just wish more would do like we have, which is to cut out Big Tech altogether.
We don’t get Google checks. We don’t have Facebook or Twitter buttons on our stories. We don’t have a YouTube Channel (banned), an Instagram profile (never made one), or a TikTok (no thanks, CCP). We’re not perfect, but we’re doing everything we can to not owe anything to anyone… other than our readers. We owe YOU the truth. We owe YOU the facts that others won’t reveal about topics that others won’t tackle. And we owe America, this great land that allows us to take hold of these opportunities.
Like I said, I don’t hold other conservative sites under too much scrutiny over their choices. It’s easy for people to point fingers when we’re not the ones paying their bills or supporting their families. I just wish there were more who would make the bold move. Today, only a handful of other major conservative news outlets have broken free from the Big Tech teat. Of course, we need help.
The best way you can help us grow and continue to bring proper news and opinions to the people is by donating. We appreciate everything, whether a dollar or $10,000. Anything brings us closer to a point of stability when we can hire writers, editors, and support staff to make the America First message louder. Our Giving Fuel page makes it easy to donate one-time or monthly. Alternatively, you can donate through PayPal or Bitcoin as well. Bitcoin: 3A1ELVhGgrwrypwTJhPwnaTVGmuqyQrMB8
Our network is currently comprised of nine sites:
- NOQ Report
- Conservative Playlist
- Truth. Based. Media.
- Freedom First Network
- Based Underground
- Uncanceled News
- American Conservative Movement
- Conservative Playbook
- Our Gold Guy
We are also building partnerships with great conservative sites like The Liberty Daily and The Epoch Times to advance the message as loudly as possible, and we’re always looking for others with which to partner.
Some of our content is spread across multiple sites. Other pieces of content are unique. We write most of what we post but we also draw from those willing to allow us to share their quality articles, videos, and podcasts. We collect the best content from fellow conservative sites that give us permission to republish them. We’re not ego-driven; I’d much rather post a properly attributed story written by experts like Dr. Joseph Mercola or Natural News than rewrite it like so many outlets like to do. We’re not here to take credit. We’re here to spread the truth.
While donations are the best way to help, you can also support us by buying through our sponsors:
- MyPillow: Use promo code “NOQ” to get up to 66% off AND you’ll be helping a patriotic, America First company.
- ZStack: Improve your immune system with the Z-Stack protocol or rejuvenate your body from vaccines or shedding with Z-DTox by Dr. Vladimir Zelenko.
- OurGoldGuy: Tell them JD sent you in your request to buy gold and it will help us… AND (wait for it) you’ll be helping a patriotic, America First company.
- MyPatriotSupply: Stock up on long-term food, survival gear, and other things that you’ll need just in case things don’t recover and we keep heading towards apocalypse.
We know we could make a lot more money if we sold out like so many “conservative” publications out there. You won’t find Google ads on our site for a reason. Yes, they’re lucrative, but I don’t like getting paid by minions of Satan (I don’t like Google very much if you couldn’t tell).
Time is short. As the world spirals towards The Great Reset, the need for truthful journalism has never been greater. But in these times, we need as many conservative media voices as possible. Please help keep NOQ Report and the other sites in the network going. Our promise is this: We will never sell out America. If that means we’re going to struggle for a while or even indefinitely, so be it. Integrity first. Truth first. America first.
Thank you and God Bless,
JD Rucker
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