The Dow Jones just capped off its fourth straight day of losses. The index is down 4% since last Thursday, as it threatens to give up its gains for the year. Investors are already bracing for the next market correction, but a much bigger danger looms on the horizon…
The sudden drop in the Dow, including a 600-point collapse on Monday (Nov. 12), could be the sign of a coming market correction and the beginning of a new bear market.
After all, the broad markets have been propped up by venerable tech stocks, which are now leading the spiral downward as they forecast declining sales.
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After tech stocks led indexes to record highs over the last year, their sudden slide could be a bad omen for a coming stock market correction or the beginning of a new bear market.
That’s perfectly plausible too. Our current bull market became the longest on record in August, so a correction is potentially overdue.
But that’s routine. In fact, a correction could be good for investors as it would shake speculators out of the market and bring stock valuations down to more attractive levels.
However, there’s another crisis looming, and it will make a correction, or even a market crash, look like child’s play…
The Pension Time Bomb Could Be the Biggest Financial Crisis Since 1929
The greatest economic catastrophe of our generation is about to blindside 176 million U.S. investors.
Decades ago, corrupt money managers and politicians left a giant $6 trillion deficit in pension funding.
Now, U.S. pension plans are already defaulting left and right. They are breaking the promises they made to current and future retirees. Even worse, the deficit is so massive there’s nothing U.S. President Donald Trump or Congress can do about it now. It’s more than six times Washington’s 2017 deficit.
And the Pension Benefit Guaranty Corporation – the fund Washington created to backstop these funds – is already worse than broke. The PBGC is nearly $80 billion in the red.
These underfunded pensions have already started to default.
And the first major failures are almost here. It could happen as soon as 30 days from now.
As these funds begin to crash, they will push 31 million pensioners, the U.S. stock and bond markets, and the entire U.S. economy to the brink of catastrophe.
But you don’t have to be a victim to this unprecedented greed…
For one thing, if you get started now, there’s still time to prepare.
And for another, there’s plenty you can do to protect yourself.
What’s more, it’s easy to do. You can begin protecting everything you own in just a few minutes.
And if you play your cards right, this great pension time bomb could also make you quite a bit wealthier.
Read the rest of the post, Forget This Market Correction – There’s a Much Bigger Crisis on the Horizon at Money Morning – We Make Investing Profitable
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