4 Adar Alef 5774
The global economic downhill slide is picking up momentum. Could we be just 30 days away from financial Armageddon?
The Dow Has Already Fallen More Than 1000 Points From The Peak Of The Market
...troubling news just continues to pour in from all over the planet.
2014 stock market selloff intensifies
..."There's this jittery feel about the market,".... To say it is overdue for a (10% correction) may be the understatement of the year."
...The negative news, which some economists blamed on the severe winter weather, further worried investors who are already grappling with an economic slowdown in China, upheaval in the currencies of emerging markets, and the start of the Federal Reserve's move to taper its market-friendly bond-buying program.
...Last year's big move in stocks was way overdone and artificially inflated by Fed stimulus,.... The stock market shouldn't have gone up 30% when corporate earnings only grew 6% and economic growth, or GDP, was roughly 2%.
"Now that the Fed game is over, you will see the real economy revealed, and it is very weak," Pento warns, adding that the global nature of the economy also threatens the U.S. outlook. "The U.S. is not an island. If Japan and China are slowing down and emerging markets (are struggling), who will we export to."
And who will continue to buy American debt???
Government likely to exhaust debt-ceiling options soon, Lew warns
Treasury Secretary Jack Lew urged Congress on Monday to act quickly to raise the federal debt limit, saying he will run short of cash to pay the nation’s bills by the end of the month without additional borrowing authority.
Enforcement of the debt limit is suspended, but it will come back into force Friday under the terms of a deal lawmakers struck in the fall. That leaves Lew bumping up against the limit in tax-filing season, he said Monday, when he will have far less flexibility to juggle the books and ward off disaster.
Has the 'can' finally reached the end of the road???
Financial world shaken by 4 bankers' apparent suicides in a week
The apparent suicide death of the chief economist of a US investment house brings the number of financial workers who have died allegedly by their own hand to four in the last week.
Did they know something we don't???
(From an article in The Washington Times written October 25, 2012):
MEANS: U.S. economy on schedule to crash March 2014
America’s fall will take global economies with it
Those wild and crazy Mayans put down their marker that the end of the world would occur on Dec. 21, 2012 — about two months from now. There is, of course, some small chance that they might be right. On the other hand, there is a very large probability that the real end of the world will occur around March 4, 2014.
The doomsday clock will ring then because the U.S. economy may fully crash around that date, which will, in turn, bring down all world economies and all hope of any recovery for the foreseeable future — certainly over the course of most of our lifetimes.
...The central issue is confidence in America, and the world is losing confidence quickly. At a certain point, soon, the United States will reach a level of deficit spending and debt at which the countries of the world will lose faith in America and begin to withdraw their investments. Many leading economists and bankers think another trillion dollars or so may do it. A run on the bank will start suddenly, build quickly and snowball.
So while President Obama via John Kerry is threatening Israel with boycotts and divestments, the world may decide to divest from the US dollar??? What irony! What justice!
Do the nations have just 30 days to do teshuva or face financial Armageddon? That will bring us to Rosh Chodesh Adar Bet - the real Adar!
Heads up, people!!!