World Stock Markets Plummet into Correction Zone … Is a Market Crash Looming?

Captain Rick : Stock markets around the world plummeted into correction territory on Monday, August 24. China’s Shanghai composite plummeted 8.5% followed with an additional 7.6% plunge on Tuesday, accumulating a 16% loss in two days. The Dow took an unprecedented 1,089 point dive at Monday’s opening bell, causing investors to wonder if this was the beginning of a market crash. The Dow has now lost 13% from recent highs. Most major stock markets around the world are down over 10%, considered to be the threshold that signals an official market correction.

This market correction is significant in magnitude. It is almost as big as the 2011 correction, which was the biggest correction since the global market crash of 2008, when the Dow bottomed at a 54% loss. This market correction has caused the average 401K retirement account to loose $10,000 in the past few weeks. It has erased billions of dollars of value from the world’s major corporations. 

What is triggering this stock market correction?

Primarily, concerns about global economic growth — especially in the world’s No. 2 economy, China, after it unexpectedly devalued its currency. China’s Shanghai Composite suffered its worst loss in more than 8 years, which takes us back in time prior to the 2008 global market crash. This concerns investors because China is one of the biggest financiers of U.S. debt. If China stops funding Americas debt spending, where will Uncle Sam get its money to fund the countless federal grants it dishes out to keep the economy chugging along? Additionally, oil prices are down under $40 a barrel, hitting a 6 1/2-year low. While this is great news for drivers needing to buy fuel, it is taking a heavy toll on profits for the big oil corporations.

What is the long term stock market prognosis?

Perhaps the biggest concern of all is the extremely fragile financial structure of the United States. Intelligent investors realize that the U.S. is teetering at the edge of the real ‘fiscal cliff’ with lots of serious fiscal challenges that lie ahead … like uncontrolled spending far beyond its means, causing the U.S. national debt to soar past $18 trillion, dwarfing all other countries debt. And then there are the giant fiscal time bombs that continue to tick … Medicaid via Obamacare, Medicare and Social Security. Who knows what could spook the market to take the big plunge? The only things we can all be sure of is that ‘what goes up, eventually comes down’ and ‘time is of the essence’ because of the extremely ‘shaky fiscal ground’ that the entire world stands on … especially the United States of America.

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Your comment is welcome and will be greatly appreciated,
Captain Rick

Gilbert, Arizona Town Manager Patrick Banger Hits 100

Captain Rick: Congratulations Gilbert, Arizona Town Manager Patrick Banger for 100 posts on Gilbert’s WordPress site.
Sincere appreciation for the many wonderful achievements you have contributed to during your first four years leading Gilbert to become America’s best town of nearly a quarter million residents. Your video below is a great testament to the excellence of Gilbert.

Gilbert Town Hall Talks

Manager’s Update: August 20, 2015

In this week’s Manager’s Update we’re celebrating 100 posts by showcasing the highlights of the past four years since I’ve become Gilbert’s manager. Watch this video to hear about our population growth, new business developments and what we have to look forward to in the future.

Please subscribe to our Gilbert Digital YouTube channel for more Gilbert highlights.

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117 F breaks Phoenix Temp Record for Aug 14 + Pool Temp all time record high of 95 F

Captain Rick : Yesterday was a hot day in Phoenix. Besides smashing a previous daily air temp record, it set a new record of 95 F for the warmest pool temp I have ever recorded. Pool water temp closely trails the average day and night temp. SRP, the power company, registered yesterday’s average temp at a near record of 102F. We have had some very hot nights lately, with temps only dipping to the upper 80s at dawn. I am confident that those elevated low temps are what created the new high pool temp record.

Phoenix pool temps have been making a slow, steady rise over the past couple decades. I attribute that to rapidly expanding concrete and heat absorbing materials that blanket the Phoenix Valley of the Sun which spans across 100 miles of Arizona desert with an exploding population of over 4 million.

117 F is shy of the all time high temp record of 122 F set June 26, 1990. I missed experiencing that monumental mark. Having moved to the valley in 1996, the hottest I have experienced is the fourth place record at 119 F set on June 29, 2013. It was ‘Dry Heat’, only 2% humidity, a truly unique and wonderful experience that I recorded in a previous Atridim News Journal post complete with a photo of my thermometer at 119 F: Arizona “Dry Heat”: Phoenix set 4th hottest all-time record: 119F (48C) at 2% humidity … Where is the hottest place on earth?

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Your comment is welcome and will be greatly appreciated.
Thanks for stopping by,
Captain Rick

Captain Rick ranks Candidate Performance ~ 1st Republican Presidential Debate of 2016

Captain Rick : I have watched every presidential debate since 1960 when John F. Kennedy was elected and became one of America’s greatest presidents. I will always remember the day I was eating lunch in the high school cafeteria and those terrifying words came over the school PA system that President Kennedy was shot and killed. It was a day that planet earth stood completely still, frozen in shock. That day had a profound effect on my thinking. It marked the day I became seriously interested in the candidates that run for President of the United States of America. 

Fox News hosted the first Republican presidential debate on August 6, 2015.  Sadly, it was only broadcast live to cable TV subscribers. Watch the official Fox News video rerun by clicking the image above.

As I have done for most presidential debates for decades, I kept score of how each candidate answered the questions. Each candidate started off each question with 5 points on a scale of 10. As they answered each question, I adjusted their score up or down based on what they said as it related to how I believe the mainstream voter would judge the answer. Their body language and audience reaction factored in. After the debate I averaged the scores for each candidate.

Captain Rick’s Scorecard of 2016 Republican Presidential Debate Contenders:

8.1 Donald Trump

6.7 Rand Paul

6.3 Mike Huckabee

6.2 Ted Cruz

5.7 John Kasich

5.6 Marco Rubio

5.2 Scott Walker

5.1 Ben Carson

5.0 Jeb Bush

4.8 Chris Christie

Donald Trump dominated the debate, in spite of loaded questions thrown at him by Fox News host Meagan Kelly, scoring considerably higher than all other candidates. Rand Paul came in a distant second, weaker than I had expected. Mike Huckabee’s third place performance was a surprise. I have a hunch we will be seeing more press on him in coming weeks. It squeaked Ted Cruz to a close fourth. The rest of the candidates all scored within a point of neutral 5.0. Scott Walker’s drop was a surprise. Ben Carson, with his excellent comment about the ‘brain of congress’ helped him fair a notch above Jeb Bush. Chris Christie came in last. I think he needs to excuse himself from the race.

I recognize that there is lots of commentary on how the candidates faired that is being broadcast across social media. I am honored to be one intelligent voice for your consideration.  

Captain Rick’s Closing Thought … I think America is sick and tired of both parties (Republican and Democrat) because of their poor ability to have a positive effect in the Presidency and Congress of the United States of America … which continues to ‘kick Americas debt can down the road’ for our grandchildren to pay for. They can not afford the bill of debt. Unless America begins to elect an intelligent president and members of Congress, America will soon witness the world’s largest catastrophe … the United States of America becoming a third world country. 

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