Musical Chairs, Economic Busts

[Last Daze]

 

With talks between the EU and Greece reaching the boiling point, the former White House Budget Director warned that the Greek crisis is now a threat to the entire global financial system.

 

Former White House Budget Director, David Stockman:  “The Greeks owe something like $350 billion.  $60 billion of it is owned by Greek banks.  The rest of it is (owned by) the EU — $210 billion — and another $30 or $40 billion by the IMF.

 

So the issue in the short-run is the taxpayers in all the countries of the EU…because the debt has been transferred from the banking system — that’s what all these bailouts were about — to the taxpayers of the EU.

 

... That’s why there is so much desperation and so much tension in these negotiations.  The Germans could afford to take the $47 billion hit that is guaranteed by Germany.  But the Germans are afraid that if losses are triggered, in other words Greece is permitted to default, then the next two countries in line are France and Italy.

 

Their (French and Italian) governments simply will not survive a capital call.  They will be forced into an election — I call it a run on the parliaments — and they will get radical, populist, anti-EU governments and the whole thing will come unraveled.

 

... Now think about the global financial system and how fragile it is — the European economic union and currency experiment — and right in the center of it is a ticking time-bomb that’s about ready to blow.  I think if people needed any warning that there is massive danger ahead, just think about what’s happening hour-by-hour, day-by-day in this Greek drama in Europe.”

 

http://kingworldnews.com/former-white-house-official-greek-crisis-threatening-entire-global-financial-system/

 

 

Yes, quite a tangled web it is.  And then there's the part we can't even see.

[WilliamL]

Deuteronomy 15:1 At the end of every seven years you shall grant a release [Heb. shemittah] of debts.

In the seventh (sabbatical) year that ended on Sept. 17, 2001, the world economy had been noticeably slowing, but economists foresaw no significant crisis at hand. Then 9/11 occurred, and stock and bond markets in the U.S. were closed to prevent a panic. They were reopened on Sept. 17 (the shemittah), and the markets collapsed 7%, with further losses thereafter. It was the greatest one-day loss in history, and shook world markets.

 

In early Sept. 2008, nearing the close of the next sabbatical year that ended Sept. 29, the world economy had been noticeably slowing; but most economists predicted no significant crisis at hand. Then a series of events occurred:

– on Sept. 7, the U.S. Government nationalized Fannie Mae and Freddie Mac, giant mortgage holders, in order to prevent their insolvency;

– the huge U.S. brokerage firm Leman Brothers collapsed within Sept. 9-15, the largest bankruptcy in U.S. history;

– the collapse of Leman Brothers triggered further major bankruptcies and stock market crises worldwide;

– until finally, on Sept. 29 (the shemittah), the U.S. market dropped 7%/777points (DOW); 9% (NASDAQ); 10% (S&P), with further massive U.S. and world market declines to follow.

Without unprecedented U.S. Government followed by Federal Reserve intervention (eventually totaling tens of trillions of dollars), the world's banks – and thus the whole current world order – would have shut down.

 

According to the rabbinical calendar, the next shemittah occurs on Sept. 13, less than four weeks from today. The world economy has been noticeably slowing...

Stay tuned for the whether.

[Ezra]

I believe the first five seals have been opened since 70 AD. An economic collapse is entirely possible since the world's economies are basically a house of cards. We should never forget that a handful of bankers decides when to collapse the economy and when to claim it has been restored.  The Federal Reserve, for example, is neither "Federal" nor a "Reserve".  It is a cabal of private bankers manipulating the economies of the world while governments look on and print money as though there is no tomorrow.

[WilliamL]

...

Stay tuned for the whether.

The Troubling Truth Revealed by the Stock Market’s Nosedive

Monday was a bloodbath in global markets, continuing the weakness from last week. The Dow Jones Industrial Average  fell more than 1000 points at the open, rallied back and then gave up most of those gains to close down 587 points, or about 3.6 percent. The S&P 500 and the Nasdaq also ended the day off nearly 4 percent, after the Nasdaq had earlier dropped nearly 9 percent as popular momentum stocks like Facebook (FB) rolled over.

The rout was global. Japan's Nikkei fell 4.6 percent. The Hang Seng fell 5.2 percent. Germany's DAX was down 7 percent, entering bear market territory. The dollar is dropping hard while crude oil fell to a $37-a-barrel handle. The CBOE Volatility Index (VIX), Wall Street's fear gauge, hit levels not seen since December 2008.

...at the core, much of this plunge is about a loss of faith in cheap money stimulus. It's as simple as that. ...

http://finance.yahoo.com/news/troubling-truth-revealed-stock-market-214700529.html

 

The whether seems to be heading toward yes it will, rather than no it won't.

Less than 3 weeks now until the shemittah. Are we about to enter great tribulation? Will the Rapture pre-trib us out of here before then? Stay tuned...

 

[Later today update: "Bear trap: Dow caps day down 200 after late-day plunge.

Wall Street took a sudden turn into the red, halting what was a stunning rebound rally, with U.S. stocks closing the day with a loss of more than 1%." -- Yahoo finance page.]

Edited August 25, 2015 by WilliamL

[WilliamL]

Habakkuk 2:7 “Will not all these take up a proverb against him,
And a taunting riddle against him, and say,
‘Woe to him who increases
What is not his—how long?
And to him who loads himself with many pledges’?

8 Will not your creditors rise up suddenly?
Will they not awaken who oppress you?
And you will become their booty.

9 Because you have plundered many nations,
All the remnant of the people shall plunder you...

 

Six days to the Shemittah. Keep an eye out for 9/11 (Friday), which was a pivotal date just before the last two Shemittahs.

[WilliamL]

Three days until the Shemittah, on Sept. 13.

Or is it? It is for the Rabbinical Shemittah, certainly; but does the Rabbinical calendar have the correct date this time around?

For those of you not familiar with the Rabbinical calendar...lucky you! It is a convoluted mishmash of mathematical formulations devised some centuries after the destruction of the Temple in 70 AD. With no temple, Aaronic Priesthood authority over Judaism ended. Priesthood authority was replaced by rabbinical authority descended from the Pharisees.

For just one example of rabbinical innovations, they decided that Rosh Hashanah may only fall on the second, third, fifth, or seventh days of the week. This has nothing to do with the Scriptures, nor with the traditions of Temple times, when the date of Rosh Hashanah was determined solely by the sighting of the first crescent of the New Moon. The Rabbinical traditions determine that sometimes Rosh Hashanah begins before the New Moon crescent is visible, such as this year. At other times, such as in 2000, the Rabbis will cause Rosh Hashanah to fall the second day after the New Moon becomes visible.

Similar questionable doctrines arise in their determination of the first month in the Spring, the month of the Passover festival. The rabbis have determined that Passover may come no earlier than about six days after the Spring equinox, otherwise the first month will be postponed until the next New Moon. (The Bible says the green ears of barley must have their heads filled out with enough grain to offer for the Firstfruits Wave Offering on the first Sunday after the Passover. The Western Church, due to the decision of the Council of Nicaea in 325 AD, put Easter = Firstfruits Wave Offering on the Sunday after the first Full Moon following the Equinox.)

There are other, non-rabbinic traditions in Judaism for determining the feast and fast dates. The Karaite tradition says that the New Moon of the first month must always be the one closest after the Spring Equinox. So in many cases – this year being one of them – their tradition places the various feasts and fasts one full lunar month later than the rabbinical tradition.

Now, one of the important dates of the Jewish calender cycle is the ninth of Ab, the ninth day of the fifth lunar month: “the day of evil report.” The first notable ninth of Ab was when ten of the twelve spies that Moses sent to spy out Canaan brought back “an evil report” (Num. 13:32), causing the hearts of the people to fail, bringing God's curse upon them. Many other such “evil reports” have come on this same day, including the destructions of both First and Second Temples; and, more recently, Iraq's invasion of Kuwait in 1990.

I take note of this day every year, because notable events on it often seem to be a forerunner of troubles for the remainder of the lunar year. This year, nothing of note took place on July 25, the ninth of Ab according to the Rabbinical calender. But one month later on Aug 24, the ninth of Ab of the Karaite calendar, China's Shanghai market fell a huge 8-1/2%, India's market 6%, the U.S.'s an average 3-1/2%, and so on around the world. This was indeed “a day of evil report”: the financial world was stunned.\

Therefore, to sum up, the Shemittah this year may actually have the type of effect it had in 2001 and 2008 not on Sept. 13, but a month later on Oct.13 (plus on minus a day). Or it may not.

Another “stay tuned for the whether...”

[other one]

Might I suggest that if you have funds in the stock market and believe there is something to this, it is a really good time to sell stock and keep the cash to buy cheap stock next month....    worked for me in 2008 and 2001

[Flames of Liberty]

We were challenged by one of my professors to read the book Fragile by Design.  She could not assign it officially because the school had not approved it.

 

Eye opening is an understatement. 

 

http://www.amazon.com/Fragile-Design-Political-Princeton-Economic/dp/0691155240#productDescription_secondary_view_div_1441910950639

[WilliamL]

...

Keep an eye out for 9/11 (Friday), which was a pivotal date just before the last two Shemittahs.

On September 11, the U.S. Senate and House both failed in votes to override Obama's deal with Iran regarding its nuclear program. In the words of Speaker of the House Boehner, "This Iran deal is worse than anything I imagined. Why? Because the president and his negotiators broke every one of their promises."

In 1979, the year of the Iranian revolution that brought Ayatollah Khomeini to power, Sarah Menet had an after-death vision in which she “watched as a missile flew from Libya and hit Israel. The mushroom cloud that resulted from the blast was visible, and I knew that the missile contained a nuclear bomb. I was aware that those responsible for the missile were Iranian… Almost immediately, other missiles began flying from one country to another, quickly spreading war around the world.” Other pre-placed nukes exploded on the ground.

For the precursors to this event, she saw “some tall buildings [in NYC] crashing to the ground… As I watched the attack on the World Trade Center towers on September 11, 2001, it was like watching a rerun.”

The next event in the sequence she saw was that “commerce ceased. Shopping and buying seemed to stop, [and] the economy failed throughout the world… those who did have [money] could not buy anything. Gold and silver and other commodities…could be traded” for awhile, but then “became worthless.” [Third Seal]

Following this, she saw plagues being deliberately released, of two types: one causing white blisters, infection, and slow death, the other “a flulike virus that spread more quickly…victims had blood coming from their nose, mouth, eyes, and ears.” Both plagues were released in the U.S. and Israel. [Fourth Seal]

In the aftermath of these events, “there was chaos with looting, rioting, and murders, a complete breakdown of society [in the U.S.]. …[E]lectricity had failed everywhere and nothing was working throughout the country, including any of the communications systems.” [Fourth Seal]

As chaos, anarchy, famine, vicious gangs, fires, and polluted waters “reigned over the entire country,” she “noticed small pockets of light scattered over the United States…most…in the western part…with only three or four being in the east. …[T]hese points of light were people who had gathered together and were kneeling in prayer. The light was actually coming from the people…[who] were caring more for each other than themselves. …I realized that these cities of light were temporary, and that in a short time the people…would go to another place. … I seemed to think that they were to gather in the mountains – to higher places.”

Sarah next saw the nuclear war begin, with many places in the U.S. being hit, followed immediately by “Russian and Chinese troops invading. … I did not see much of this war but was impressed that it was short in duration and that the Russian and Chinese armies were defeated and withdrew.” Menet, There Is No Death, 62-70.

This war is foretold in Genesis 49:22-25, Isaiah 17:3-14, and George Washington's vision at Valley Forge. All these say it will be ended by Divine intervention. For more info, go here: http://www.worthychristianforums.com/topic/186053-where-is-joseph-and-his-land-in-the-end-times/#comment-2179067

The nation-state of Israel will also be Divinely delivered at this time from attack by Edomites/Muslims, as foretold in Isaiah 63:1-6 and 34:5-10f.; Jeremiah 49:7-22, and Joel 3:19. Also at this time, “Egypt shall be[come] a desolation” and “shall be uninhabited 40 years.” Joel 3:19, Ezekiel 29:8-12

[WilliamL]

Well, the dreaded Shemittah came and went, and nothing happened, and the economy went on as normal.

Except that it didn't. What has happened over roughly the last 6 months is that most of the 3rd world's stock markets have crashed, along with their national economies. In such places as Brazil and Turkey and Egypt etc.  Various commodity prices have collapsed 40-60% or more, crippling countries who depend upon their export of commodities. China's market has precipitously declined, and it has come to light that that nation is up to its eyeballs in tens of trillions of dollars of debt (in yuans, of course). The Baltic Dry Shipping Index, which measures all commerce shipped by sea -- the vast majority of international commerce -- is at its lowest point in 30 years.

Yet some of the major world stock markets, the U.S. in particular, have not declined to any great degree. Why? Because when the lowlands are flooding, people take their wealth up to the highest ground they can find. However, when the highlands begin to get flooded, all that wealth gets washed away. And that is what some economists -- the honest ones -- say is now beginning to happen. The high-yield (junk) market is beginning to collapse. Some of their brokerage houses have now folded, and others are refusing to pay out redemptions to people who want to get their money out. High-yield bond collapses and collapsing commodities prices, particularly of oil, were the forerunners of the Crash of 2008.

But the Fed just raised interest rates, saying the U.S. economy is strong, so of course there is no need to be concerned...