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 Wall Street Pummeled With 513 Point Drop



The two-week plunge in stock prices is signaling economic anxiety, but it’s also compounding the problem: Lower stock prices are shrinking Americans’ wealth, rattling their confidence and making them less inclined to spend.
And employers may become even slower to hire.

Cracks in the European financial system widened further Thursday as investors worried that Italy and Spain would be unable to pay their debts. Regulators have put banks there through a series of stress tests. The tests are designed to show whether the banks could withstand defaults by their weaker neighbors.

Fears of default by smaller, heavily indebted countries such as Greece and Portugal have been replaced by concerns about large Italian and Spanish banks. Some investors also worry that the banks are carrying too much of their home nations‘ debt and that the banks aren’t reporting the true value of those bonds. ...

read more: http://bit.ly/oXrUT8


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SI Moderator - Greg Gordon

 2011/8/5 12:08Profile
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 Re: Wall Street Pummeled With 513 Point Drop


I have believed for a while that there was going to be a short recovery and a worse time of recession for the USA and Canada. It seems we are again on the brink of this fall.


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SI Moderator - Greg Gordon

 2011/8/5 12:09Profile
mikey2
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Joined: 2011/5/5
Posts: 112


 Re:

QE3 is coming. It will be great for the markets but bad for the consumer because inflation will get worse.

I believe a big recession (double dip) will begin at the end of this year or beginning of next.

Let's not forget, in the middle of the Depression, there was a big upward swing in the stock market.

The government through everything they could at it and it lifted it about 65%.

Then, it crashed.

History repeats itself where fallen man is concerned.

We have had more than an 80% rise from the low of 6600, S&P of 666 (interesting) and now,,,, get ready for a huge crash.

There is really no way you can get ready except get close to Jesus.

Serious times are ahead, such as this generation has never experienced.

Mike

p.s. Do you know what precipitated the second and most severe leg down in the stock market during the Great Depression? Europe defaulting. And that is what will happen again. The EU, with Greece, Italy, Spain and others in big trouble is about to kick off the second and deepest leg down.

Hold onto to your hat (hold onto Jesus) and buckle your seatbelts, because this roller coaster is going down, very steeply.

 2011/8/5 12:18Profile









 Re:

This is not the first time the stock market has dropped like this in one day... and then bounced back the next. It doesnt mean anything. (but talking heads and Christians have a hay-day creating panic out of nothing over these things)

Now, raising the debt ceiling and printing money out of thin air is what creates a recession. Our "leaders" have not figured this out yet.

Krispy

 2011/8/5 14:07









 Re:

Nothing goes straight down and nothing goes straight up in the market. I knew today would be a bounce because yesterday was so over sold. But did you see it bounce back 512 points? No. So, I would not say it "bounced back." It did nothing of the sort.

Raising the debt level and printing money devalues the dollar and creates unsustainable inflation which affects all of us. Have you not noticed food, clothing and other prices that have gone up?

I don't know any Christians that are creating panic out of nothing. I see plenty happening that can create panic all by itself.

The writing is on the wall and if we don't see it, we are just choosing not to see it.

Julius

 2011/8/5 14:41









 Re:

The market did not bounce back. It had a small bounce but to "bounce back" it would had to have gone up 512 points.

Raising the debt ceiling and printing money with nothing to back it up, creates inflation.

Our leaders know exactly what they are "engineering".

Don't be fooled. If a dummy like me knows what is the right thing to do, then these Phd.'s in economics certainly know what to do.

Don't be fooled.

Julius

 2011/8/5 14:43
twayneb
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Joined: 2009/4/5
Posts: 2007
Joplin, Missouri

 Re: Wall Street Pummeled With 513 Point Drop

I have not seen my wealth drop very much at all...a function of not having much wealth. If we see drastic inflation it might mean more dollars as wages and a debt that does not increase. This might help me pay off the remainder of my house and be totally debt free. :-)

I too believe it will get much worse before a man steps on the scene to fix it all and gain the worship of the nations of the world. David said "Psa 37:25 I have been young, and now am old; yet have I not seen the righteous forsaken, nor his seed begging bread." We are entering a time where if we have not been putting our faith in God we will have no other choice. We need to listen carefully to the Holy Spirit about what decisions we are to make in this time. It is only total dependence on Him that will keep us stable. Live with an eternal perspective. Money is only a tool to be used for the kingdom, not a precious possession to hold on to. I believe we are here at the end of all things. Look up!!!


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Travis

 2011/8/5 15:15Profile









 Re:

Juli... lighten up a little. I did not say there was no need to panic. The market dropping like it did and then coming half way up (keeping in mind the markets are still open as I write this) is just an indication of the times we are in. But when we have a 1 day loss like yesterday it's typical to have a panic both in the media and, it seems, the church.

My question is: why is the church panicing? I'm not panicing, and I've felt the hit big time. But so what? Who cares? I dont. They can take all my money, all my things... I have much more riches that can never be taken from me!

The Lord gives and the Lord takes away. Blessed be the name of the Lord.

This is a time for rejoicing. I'm glad we're in the economic times we are in. It produces good fruit in the true church. Believers grow stronger. People turn to the Lord.

Paul said he was willing to give up his salvation and go to hell in their place, if it were possible, to see the Jewish people come to Christ. We should be willing to lose all if a) God decides that is what best for us, and b) if God decides to use that to bring others to Himself.

Krispy

 2011/8/5 15:35









 Re:

twayneb, good post.

Krispy, who said anything about Christians panicking. I am sure there are many who are but that is only indicative of a spiritual problem.

Market ended up 15 points. (Well, it is not quite closed, yet).

As twayneb said, "look up!".

 2011/8/5 15:38









 Re: Mathew 6:25-34

Brothers I may not be the brightest bulb in this forum but I think Jesus addressed the stock market issue in the above verses. Just read them and find them to be very comforting.

Good recommendation. Turn off the 5:30 pm news. Spend that time in the good news, the New Testament. Believe me you eill feel a lot better.

Posted by Blaine

 2011/8/5 16:15





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