Perfect Storm for a Stock Market Crash over the Next Three Weeks
Using the 2007-09 market meltdown as a reference guide.
I said last week the market today mirrors mid-Sept. 2008. At that time the market had declined 26% from the peak in October 2007. Today surprise, surprise we are also down approximately the identical amount. What took almost a year to do in 07-08, was accomplished in a couple of months in 2020.
In mid-Sept. of 08 the LIBOR (or inter-bank lending rate) exploded higher as government bond yields plunged. What this meant was banks were unwilling to lend to other banks... the financial system was freezing up. This took a month to resolve, but in that month the stock market effectively crashed losing an additional 40% from mid-Sept.
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