Financial, Economic and Social Mood Update (March 1, 2024)
Financial, Economic and Social Mood Update (March 1, 2024) The Dow Jones 30 Industrial Index hit a record nominal high of 39,282.28 on February 23, 2024 and the S&P 500 Index reached a nominal high of 5,140.33 on March 1, 2024. The NASDAQ Composite Index also reached a record nominal high value of 16,302.24 on March 1, 2024. According to Elliott Wave technical analysis the stock market has never been so severely overly bullish or overbought. We can make the same statement for virtually all classes of assets including for real property. The overall global stock market is 45 percent below its record nominal high from December of 2021, and the overall cryptocurrency market is 66 percent below its record nominal high from November of 2021. We are witnessing nominal & real bear market retracement – this is not a real bull market. Never forget for one moment that our nominal fiat currencies have become so decimated – i.e. in real terms we are much less affluent today than we were in the past. Some billionaires and millionaires at the very top (but not all of them – not all of them are dishonest) are getting ever richer and more powerful……………….in particular those on the side of the World Economic Forum (WEF) led by Klaus Schwab in Switzerland who controls most western governments and the all-powerful investment banking trio of Blackrock, Vanguard and State Street who in turn control the all-important corrupt industries of investment banking (the business of robbing us blind), defense (endless wars) and big pharma (the business of poisoning us). These 3 all-powerful and corrupt investment banks are literally in the process of trying to buy up every asset on earth. They already own and control 55 percent of publicly held corporations on the planet and are…