Well, right now the DOW is down about 2% (329+ points) which is worse than its drop yesterday. Yesterday it dropped 300, but recovered a bit before the close.
Heck, this might happen a lot before Sept 12th.
Remember, even mainstream economists are wondering why we haven't had a 10% correction in YEARS. We're well overdue, however you calculate it.
All I know is -- unless you're stupid, you need to have ALL your money out of the stock market. Only idiots will "let it ride" at this point. It doesn't matter if you're 20 -- get it out now, while you can.
And P.S. -- don't keep more than a few thousand in the banks. All the nations of earth right now have "Bail In" docuмents in place, which allows them to close banks and give "haircuts" to each account to recapitalize themselves.
Next crisis/crash there won't be government bail-outs, there will be bail-ins (paid for by all the bank's depositors) instead. Just like in Cyprus.
Why would ALL the nations get ready for bail-ins if they didn't intend to use them?
Smart people are taking their money out, while they still can. Buy land, tools, food, equipment, and if you're wealthy, buy gold and silver with the rest.