Stocks
Let ’ s take a closer look at some key dates for the Dow Jones stock index to get a better understanding of how wildly stock prices have swung over the past three years :
The Dow Jones stock index fell from a peak high of 29,551.42 on February 12th to a market low of 18,213.65 on March 23rd in 2020 , which is more than a 38 % overall percentage loss in just over a month . Of the ten alltime biggest daily point losses ever for the Dow Jones index , eight of these days took place in either February or March in 2020 . By comparison , the then alltime daily Dow Jones point loss record for the infamous day that almost took down the global financial system back on September 29 , 2008 was only a 777 daily point loss .
Consumer Debt
Mortgage and other consumer debt is at an alltime record high . Credit card debt is near $ 1 trillion with the highest rates and fees ever averaging over 20 %.
Distressed or preforeclosure numbers are listed as " below historical averages " today partly due to existing Covid19 moratoriums . However , the true number of distressed properties that do not have foreclosure filings may later be on pace to reach peak 2008 to 2012 numbers and will likely be led by FHA mortgage defaults ( 95 % to 96.5 % LTV is the norm for FHA purchase deals ).
After loss of income , the # 1 reason why homeowners walk away from their mortgage and let the property go to foreclosure is when it ' s upsidedown , underwater , or the mortgage debt is higher than the current market value .
The # 1 cause of financial insolvency or bankruptcy is related to unpaid medical bills ; Americans have never been unhealthier than today , tragically .
Published inflation rates have varied between 6 % and 9 % in recent months . Yet , the true inflation numbers are closer to 15 % to 17 % if the federal government used the same data analysis techniques as a few decades ago .
Subprime automobile loans recently surpassed 6 %, which is the highest default number ever .
Energy Price Swings
Back in April 2020 , oil prices per barrel briefly went negative to reach 37 per oil barrel . As a result , the cost of the barrel itself was more valuable than the oil inside . Energy costs are usually a root cause of both inflation and deflation as we ' ve all seen over the past few years . Some oil barrel prices later surpassed $ 100 in 2022 as many of us saw $ 5 , $ 6 , $ 7 , $ 8 , and $ 9 per gallon , especially here in California .
Month & Year / Daily Point Loss
# 1 : 03 / 16 / 2020 / 2997 # 2 : 03 / 12 / 2020 / 2353 # 3 : 03 / 09 / 2020 / 2014 # 4 : 03 / 11 / 2020 / 1465 # 5 : 02 / 27 / 2020 / 1191 # 6 : 02 / 05 / 2018 / 1175 # 7 : 02 / 08 / 2018 / 1033 # 8 : 02 / 24 / 2020 / 1032 # 9 : 03 / 05 / 2020 / 970 # 10 : 03 / 27 / 2020 / 915 Source : Standard and Poors ( through 03 / 27 / 2020 )
Energy costs are usually a root cause of both inflation and deflation as we ' ve all seen over the past few years .
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