DOW Drops Over 800 Points WHILE You Are Bailing Wall Street Out.. Again

As of Wednesday evening, 10/2/19, the DOW had tumbled by over 800 points in 2 days. On Tues, the DOW declined by -344 points, followed by a decline of -494 points on Wednesday.

Of course, we have seen even greater declines in less than the past single year. However, circumstances are highly important in this case and the implications are grim.

The decline this week is concurrent with the Federal Reserve pumping $75 billion PER DAY into the market to prop it up. I already covered that in this previous article, https://medium.com/@russellmeyers_35963/you-just-spent-300-billion-to-bail-out-wall-street-and-that-cost-just-started-8216d726a4dd

Yet even that is not all the Fed is doing to save banks and corporations. In the same time frame, they have been offering short term loans to unnamed banks to the tune of as much as an additional $100 billion PER DAY. The reason they are offering these loans is because the banks borrowing the money are literally at risk of default and closing their doors.

All of this is happening after the Fed reduced the core interest rate a SECOND time on 9/18/19. The first reduction brought the core interest rate to 2.0–2.25%. The most recent reduction brought the core interest rate down to 1.75–2.0%. This was done, we were told, to improve the economy. Less than a week after the most recent core rate decrease, they determined it was not working.