Dire warnings and predictions about the wobbly state of the world economy have been flooding the internet for months (and in some cases - years). But, the tone has increased by decibels since the close of markets last Friday.
Judging by Shirat Devorah's report this morning on Asian markets, US stocks could be in real jeopardy. But, it's not just stocks that are at risk. The price of oil is plunging, too. (This morning it is has broken through the psychological barrier of $40 pb.) And aside from the good news of lower pump prices for consumers, the rest of the news is all bad.
Economist Harry Dent predicted this would occur in the current timeframe nearly nine months ago: Harry Dent: Oil Price Plunge Trigger For Next Global Crisis.
Dent explains, “Normally, oil prices falling in a good economy like the 80’s and 90’s, where we have falling inflation and booming productivity and good demographic trends, this would be a good thing.”
“It is a good thing for consumers and businesses, but it is a bad thing for financial markets and our whole debt structure. We have the greatest debt bubble in history. It’s the greatest asset bubble in history, including stocks, commodities, real estate and everything.”
“The last time this bubble burst was in 2008 because of the subprime crises. A small tranche of loans went bad, and it triggered a whole debt crisis, that’s what I see.”
He discusses the subject with Alex Jones back in January in the video below.
What does this mean for the average or below average members of the population who are living from day to day in the Land?
ReplyDeleteWhat would this translate to? And what do they need to be doing RIGHT NOW?
What we are seeing is the fall of the gods of 'Egypt'. And that is why it is remarkable - that and it's a sign of impending geulah. It's not meant to be a warning of a need to DO something. I'm no financial analyst so I couldn't begin to tell you. Besides, I have a feeling that the next shoe to drop will negate any preparations anyone has made to see them through the financial storm anyway. If Hashem has arisen to judge the world, all avenues of escape will be blocked.
ReplyDeleteWhat I meant was do we stock up on necessities or leave it as is?
ReplyDeleteFound this: Stock up on canned food for stock market crash, warns former Gordon Brown advisor
Deleteheh - yes - well, what do you think? Are you going shopping?
DeleteNo need. I keep a supply on hand at all times.
Deletethere is nothing to be afraid from all this. the world of lies is finally starting to fall apart. the whole finantial system is run by the wicked and it helps mainly benefit the wicked. the businesses and institutions in america are all managed by cruel and vicious people. you should know what life in average america has become like and it is not pretty at all. note that the american public also also did this to themselves. they became cruel and self-indulged. what moishela (moshe) said about the us economy is {Moishela: The United States of America since its creation in 1776 has become the greatest nation in the world. There was never as much materialism in any country in the world as the materialism achieved for almost every citizen in the United States of America. However because of that materialism people are dying and The United States of America is dying. It’s not going to be the stars and stripes forever any more. It's finished.
ReplyDeleteOne man walked in, took over the presidency, the last of a chain of traitors to the American ideal and is destroying the Unites States of America systematically. However, this is the punishment for the Golden-Calf that they so believed in. The American public became decadent and they became wild and they became without bounds and this is all because of this terrible Materialsim. But worst of all it has affected the Orthodox community in the most terrible way, in the most terrible way. Most of the Jews that are Orthodox (I am not talking about the non-orthodox (secular and modern orthodox) because they have been really affected in the most horrible way, worse than the Ulra orthodox)}, I also did some editing on that note. american responsibilities have also been neglected and people are suffering and dying every day. if the system was run by good leaders and pure rabbi's, this would not happen. if the people loved each other and listened and worked together, they could have overcame this.
Jack
How has the orthodox community been affected?
DeleteI live in a Modern Orthodox community. The people are died in the wool believers that a person is next to nothing if they don't have 1 or 2 college degrees. We almost hired a Chovevei Torah rabbi because he was a graduate from Harvard. He was super liberal - a follower of Rabbi Arthur Waskow.. He signed petitions against Israel, davened at retreats to Indian chants. Everyone went nuts over him. Jews who are passionate are considered extreme (right wing) are a slim minority -- at least in my community. Many in this community voted for Obama - twice! Ask anyone in our community and maybe 1 or 2 want to make Aliyah. They have nice jobs and very nice homes and aren't interested in leaving. There was a professor teaching a conversion class here who actually warned the candidates about my husband and I saying we were 'extremists.' Anyway, I don't want to criticize the entire community. The MO community is highly affected by gashmious and Western culture.
DeleteExtreme Ima
"Write off debt, has to be written off .." like in a Yovel?
ReplyDeleteEmunah
Well, the Tel Aviv Stock Exchange is waiting for the American Stock Exchange to wake up and post their position. Then we will know how this affects Israel. The Shekel is linked to the Dollar.
ReplyDeleteAt Market Opening: The Dow Jones is down 1000 points, Global markets deep in the red. Whatever that means!
ReplyDeleteNegative territory
DeleteAnd while we're all distracted with this...
ReplyDeleteNorth Korea 'prepares submarine attack' on South Korea as crisis talks enter third day: live
Report: 50 North Korean Submarines Vanish From Western Radar: Could They Be Armed With Nukes? Could they be headed to America? I don't think they need 50 for SK.
ReplyDelete"Soon we will start hearing about a miraculous 'rebound' due to the central bank rigging of the market and will most likely see a short term rally because of said rigging, but as we saw from the last few months in China, not only will it not last, but when it is all crashes it will crash fast and hard."
ReplyDeletehttp://www.wsj.com/articles/trading-in-stocks-etfs-paused-more-than-1-200-times-early-monday-1440438173
- a voice in the wilderness
Thanks! I saw that on MSNBC, too.
DeleteAnd the banks are using the people's money to try and establish a false rebound, trying to build confidence in the markets. The corporation's are just trying to get as much free money as they can.
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