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Stock Market Crash Expected In 2008 To Be Worse Than 1929
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Topic: Stock Market Crash Expected In 2008 To Be Worse Than 1929 (Read 101638 times)
Barbara
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #165 on:
July 04, 2008, 11:09:02 AM »
It's amazing, Pastor Roger, how much has happened since you opened this thread in Dec. 2007!
Here's more from Bill Koenig:
"
Stocks off 2.2 Trillion This Year
(USA Today)
NEW YORK - Hurt by a record setting run for crude oil and renewed concerns about the health of the banking sector, Wall Street ended a dismal second quarter Monday with blue chip stocks on the cusp of their first bear market in almost six years.
After a 10.2 percent drop last month, its biggest June loss since the Great Depression, the Dow Jones industrial average is now at 11,350, or 19.9 percent below its October all time high. The Dow is flirting with its first bear market - a drop of 20 percent or more - since the 2000-2002 bursting of the Internet bubble.
The US stock market has lost $2.2 trillion in value this year - $1.4 trillion in June alone, says Dow Jones Indexes. "Talk about a tough month," says Sam Stovall, chief strategist at Standard and Poor's.
Connecting the dots
- A defining moment for you and your children
by Bill Wilson, KIN Senior Analyst
In the winter of 1777, the Continental Army was encamped at Valley Forge
. It was cold. Men were freezing, hungry, bloody, beaten and battle weary. The winter was particularly harsh. Threadbare and without food, the Continental Army experienced desertions, disease, despair and death. It was a grim picture for America.
As George Washington observed, 'If the Army does not get help soon, in all liklihood it will disband.'
But as men drew upon their faith, and as they contemplated their duty amid their misery, the weather began to break and they began to train. Clothing and food began to trickle in, and the turning point for America was birthed out of the hearts of those men.
In July, 1863, America was torn apart by civil war
. Under the comman of Robert E. Lee, the south attacked the north in a colossal battle at Gettysburg. Men fought in stifling heat. The smell of gunpowder, blood, sweat and death permeated the air above the screams of the wounded and the sounds of death and destruction. Again, it was a grim picture for America.
Nearly 50,000 Americans on both sides were killed, wounded or captured during the battle. This horror among brothers and countrymen was the turning point to a war that divided America and threatened to destroy the nation.
Today America faces another defining moment
. Islamists control the lifeblood of the American economy - oil. Anti-Americans, who hold views counter to the founding priciples of the United States, are trying once again to destroy the nation through killing it's unborn; destroying its morals with same sex marriage; curtailing freedom of speech; and pressuring Americans to give up their faith in God, turn to nature worship, and become part of a one-world order.
The Anti-Americans have tried to capture the country by using political correctness as their moral highground and undermining the nation's moral fiber through teaching a pagan path to eternity.
This is a war more insidious than the Revolutionary or Civil Wars, for it is a war won or lost by the will of the souls it seeks to destroy
. It is a war against an enemy that destroys righteousness and questions acts of valor. And every American is a participant. Unless the righteous arise and take action, the nation is lost.
It is time that we draw upon the Spirit of God in us to participate, motivate, activate and reclaim this nation from imposters and traitors - so that the great valor of those that went before us will not be in vain
."
«
Last Edit: July 04, 2008, 11:14:21 AM by Barbara
»
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Soldier4Christ
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #166 on:
July 04, 2008, 11:24:30 AM »
Yes, there has been much that has happened with only a smidgen touched upon here in this thread.
Quote
This is a war more insidious than the Revolutionary or Civil Wars, for it is a war won or lost by the will of the souls it seeks to destroy. It is a war against an enemy that destroys righteousness and questions acts of valor. And every American is a participant. Unless the righteous arise and take action, the nation is lost.
It is time that we draw upon the Spirit of God in us to participate, motivate, activate and reclaim this nation from imposters and traitors - so that the great valor of those that went before us will not be in vain."
Amen! It is way past time that we all take a stand for all that is near and dear.
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nChrist
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May God Lead And Guide Us All
Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #167 on:
July 04, 2008, 12:09:26 PM »
ANOTHER AMEN SISTER BARBARA!
When we enjoy FREEDOM of any kind, we must remember that MANY TO BE RESPECTED paid for every second of it with their blood, sweat, and tears! The same will be required to preserve it and protect it. This is different than the LIBERTY purchased for us by JESUS CHRIST, or LORD and SAVIOUR forever! Without due diligence, our FREEDOMS paid for by generations of our bravest and best can BE LOST!
In all reality, the Christians in this part of the world are spoiled with: 1) Eternal LIBERTY purchased by JESUS CHRIST; 2) Temporary FREEDOMS paid for by each generation since our FOUNDING.
As a LARGER CONTRAST: when Christians enjoy the LIBERTY OF BEING FREE from the curse OF SIN AND DEATH, we must always remember that JESUS CHRIST paid for it with HIS precious BLOOD ON THE CROSS! This should be a matter of Praise, Worship, and Thanksgiving every single day of our lives!
Love In Christ,
Tom
Favorite Bible Quotes 348 - Proverbs 22:2 The rich and poor meet
together: the LORD is the maker of them all.
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Soldier4Christ
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #168 on:
July 11, 2008, 12:22:14 PM »
Stocks drop below 11,000
Concerns raised by mortgage companies Fannie Mae and Freddie Mac
Stocks are falling further as investors grow more concerned about mortgage companies Fannie Mae and Freddie Mac. The Dow Jones industrials are down more than 220 points and have dropped below the 11,000 mark for the first time in two years.
A statement from Treasury Secretary Henry Paulson said the government's focus is ensuring that Fannie Mae and Freddie Mac remain as presently constituted. But the market appears unimpressed by Paulson's words.
The rising price of oil is also taking a toll on trading, creating even more worries about the effect of inflation on the economy.
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Soldier4Christ
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #169 on:
July 11, 2008, 12:37:15 PM »
Fannie and Freddie Shares Slide, Dragging Down Stocks
Fannie Mae and Freddie Mac shares plummeted again on Friday morning — and the broader stock market followed suit — as concern mounted that the government will be forced to take over the beleaguered mortgage finance companies, which some investors fear are at risk of default.
Even after a week of unprecedented losses, the companies’ declines on Friday were the sharpest yet: Freddie Mac shares were down 45 percent from Thursday’s closing price, to $4.42 a share, and Fannie Mae stock fell 39 percent to $8.06 a share.
Less than an hour after the markets opened, Henry M. Paulson, the Treasury secretary, said a government bailout was not an immediate possibility.
“Our primary focus is supporting Fannie Mae and Freddie Mac in their current form,” Mr. Paulson said in a statement. “We are maintaining a dialogue with regulators and with the companies.”
The companies currently operate with an implicit, but not assured, government guarantee.
The remarks did not appear to placate investors, who accelerated the sell-off that began at the market’s open. Investors were running scared across the board, sending the Dow Jones industrial average down 185 points and the Standard & Poor’s 500-stock index down 1.5 percent in morning trading.
Adding to the pain was a $5 surge in the price of oil, which reached another record in overnight trading, touching $147 a barrel, on concern over recent tensions in the Middle East.
Investment banks and other financial firms led the day’s declines, with Lehman Brothers, itself the subject of meltdown rumors over the last few weeks, losing 16 percent in early trading.
Lehman’s stock has lost 33 percent of its value in the past week alone, and is on track for its worst weekly streak since the investment house went public in 1994. The perceived risk that the bank will default on its loans also rose on Friday, as measured by the market for so-called credit default swaps.
Freddie Mac stock has lost nearly 70 of its value in the last week alone. Fannie Mae shares have fallen 55 percent during that period. Both companies’ shares are trading at their lowest levels in nearly two decades.
Though shares of Fannie and Freddie are quickly declining, investors appear to be less concerned that the companies will be forced to default on their loans. The perceived risk of buying debt from the companies fell on Friday, as measured by the yield on the 10-year Fannie Mae note, which declined relative to its comparable Treasury bill.
Investors may be feeling more confident that, even if the companies fail, the government would step in and guarantee their outstanding obligations.
Senior Bush administration officials are already considering a plan to have the government take over one or both of the companies and place them in a conservatorship if their problems worsen, according to people briefed about the plan.
Under a conservatorship, shares of Fannie and Freddie would be worth little or nothing, and any losses on mortgages they own or guarantee — which could be staggering — would be paid by taxpayers.
The government officials said that the administration had also considered calling for legislation that would offer an explicit government guarantee on the $5 trillion of debt owned or guaranteed by the companies. But that is a far less attractive option, they said, because it would effectively double the size of the public debt.
The officials involved in the discussions stressed that no action by the administration was imminent and that Fannie and Freddie are not considered to be in a crisis situation. But in recent days, enough concern has built among senior government officials over the health of the giant mortgage finance companies for them to hold a series of meetings and conference calls to discuss contingency plans.
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Soldier4Christ
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #170 on:
July 11, 2008, 12:39:41 PM »
For those that are not aware of what Fannie Mae and Freddie Mac are.
Fannie Mae is the nation's largest mortgage buyer and a financial juggernaut that affects the lives of tens of millions of home buyers. It was created during the Depression to make sure that sufficient funds were available to mortgage lenders, then rechartered by Congress in 1968 as a publicly traded company.
Freddie Mac, a publicly traded company that operates under a federal charter, is the nation's second largest mortgage buyer.
Like its larger rival, Fannie Mae, Freddie Mac buys mortgages from lending institutions and then either holds them in investment portfolios or resells them as mortgage-backed securities to investors. The two companies play a vital role in providing financing for the housing markets.
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Soldier4Christ
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #171 on:
July 12, 2008, 01:44:26 PM »
Feds seize bank after run of withdrawals
Takeover of IndyMac follows second-biggest failure in U.S. history
The federal government took control of Pasadena-based IndyMac Bank on Friday in what regulators called the second-largest bank failure in U.S. history.
Citing a massive run on deposits, regulators shut its main branch three hours early, leaving customers stunned and upset. One woman leaned on the locked doors, pleading with an employee inside: "Please, please, I want to take out a portion." All she could do was read a two-page notice taped to the door.
The bank's 33 branches will be closed over the weekend, but the Federal Deposit Insurance Corp. will reopen the bank on Monday as IndyMac Federal Bank, said the Office of Thrift Supervision in Washington. Customers will not be able to bank by phone or Internet over the weekend, regulators said, but can continue to use ATMs, debit cards and checks. Normal branch hours, online banking and phone banking services are to resume Monday.
Federal authorities estimated that the takeover of IndyMac, which had $32 billion in assets, would cost the FDIC $4 billion to $8 billion. Regulators said deposits of up to $100,000 were safe and insured by the FDIC. The agency's insurance fund has assets of about $52 billion.
IndyMac's failure had been widely expected in recent days. As the bank was shuttering offices and laying off employees to cope with huge losses from defaulted mortgages made at the height of the housing boom, nervous depositors were pulling out $100 million a day. The bank's stock price had plummeted to less than $1 as analysts predicted the company's imminent demise.
The takeover of IndyMac came amid rampant speculation that the federal government would also have to take over lenders Fannie Mae and Freddie Mac, which together stand behind almost half of the nation's mortgage debt.
Shares of the two mortgage giants have nose-dived this week and fell again Friday, helping to drag down the Dow Jones industrial average 128.48 points, or 1.1%, to close at 11,100.54. Investors and analysts are concerned that the two government-chartered companies need to raise billions of dollars to offset expected losses stemming from mortgage defaults, but will be unable to do so in the private market. Officials in Washington spent most of Friday trying to knock down rumors of a government bailout.
IndyMac, which once employed 10,000, fell prey to a classic run on the bank, and regulators singled out Sen. Charles E. Schumer (D-N.Y.) as having helped to fuel massive withdrawals. On June 26, Schumer said in letters to the FDIC, the OTS and two other federal agencies that IndyMac might have "serious problems" with its loan holdings.
"I am concerned that IndyMac's financial deterioration poses significant risks to both taxpayers and borrowers," he wrote. The bank "could face a failure if prescriptive measures are not taken quickly."
That public warning prompted depositors to pull $1.3 billion out of accounts between June 27 and Thursday.
"This institution failed today due to a liquidity crisis," John M. Reich, director of the OTS, said at a news conference Friday afternoon. "Although this institution was already in distress, the deposit run pushed IndyMac over the edge."
Schumer said in a statement that the cause of IndyMac's failure was "poor and loose lending practices" that should have been prevented by more active regulation. Later, a Schumer spokesman said: "Mr. Reich, a political appointee, should be spending less time playing politics and more time doing his job."
IndyMac is the second-largest financial institution failure in U.S. history, following only Continental Illinois Bank, which had assets of about $40 billion before it was shuttered in 1984. It is the fifth FDIC-insured failure of the year. Reich emphasized that though other financial institutions remained on the agency's danger list, he believed most of them would be able to work their way back to solvency.
"The IndyMac situation is unique. It does not signal a direction for the industry as a whole," he said.
IndyMac's board boasts a number of California luminaries. Among the directors, according to a proxy statement the company filed in March, is Pat Haden, 55, a former star quarterback for USC and the Los Angeles Rams, who has been a partner of Riordan, Lewis & Haden, the investment firm founded by former Los Angeles Mayor Richard Riordan, since 1987.
Other directors include Lyle E. Gramley, 81, a former governor of the Federal Reserve; Bruce G. Willison, 59, former dean of the Anderson Graduate School of Management at UCLA; and Lydia H. Kennard, 53, former executive director of Los Angeles World Airports, which operates Los Angeles International.
IndyMac had been operating under close regulatory scrutiny since January, when the OTS determined that the company was in ill health. The bank lost $614.8 million in 2007 and $184.2 million during the first quarter of this year, largely as the result of souring home loans.
IndyMac, which posted $342.9 million in profit in 2006, had been a leader in so-called alt-A mortgages, which were made to borrowers with decent credit who often weren't required to verify their income to get the loan. That year, the company's stock price peaked at $50 a share, valuing IndyMac at a tidy $3.5 billion.
However, as the real estate market slowed, the company's loan losses ballooned. In its March report to regulators, the company said that 8.86% of its loans were delinquent, up from 1.51% the year before. By the end of 2007, the company's shares were selling for $6. They closed at 28 cents Friday.
IndyMac, which has been selling and closing offices, revamped its business to focus solely on so-called conforming loans, which are relatively small-balance mortgages made to people with good credit and that can be immediately resold on the secondary market. Reich said it was unclear whether the moves would have proved sufficient to save the troubled thrift.
"Would the institution have failed without the deposit run?" he said. "We will never know."
At 3 p.m. Friday, IndyMac shut the doors to its main branch in Pasadena, three hours early, leaving customers angry and surprised. Georgi Arnold of El Monte had come to deposit $230 into her checking account but wasn't allowed inside. "I am livid," said Arnold, 32. "I'm glad I closed my savings account already."
Arnold said she had "a few thousand dollars" in the bank, money she uses for her children, small bills and vacations. "Best believe first thing come Monday I'll be drawing out all my money and closing my account because this is ridiculous," she said.
Jagdish Belgaum rushed to the bank after hearing the news, only to be locked out. The 42-year-old South Pasadena resident said he had about five CD accounts totaling just under $100,000.
"Luckily I don't need the money right away," said Belgaum, a chief technology officer at a medical management company. "I'm more afraid of the long line on Monday. That's why I came running."
IndyMac announced Monday that it was laying off 3,800 employees. FDIC spokesman David Barr said Friday outside IndyMac headquarters that "the bulk of the employees will be needed to run this as a full-service bank."
But a handful of employees who were leaving the building appeared to be preparing for the worst, lugging boxes of belongings and saying goodbye to one another. One woman carried out a potted plant. Regulators said they hoped to sell the bank within 90 days.
The FDIC has set up a toll-free phone line -- (866) 806-5919 -- and a page on its website --
www.fdic.gov/bank/individual/failed/IndyMac.html
-- for bank customers to obtain information.
IndyMac Bank is the main subsidiary of IndyMac Bancorp. It was unclear what would happen to the holding company in light of the seizure.
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Soldier4Christ
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Depression
«
Reply #172 on:
July 12, 2008, 11:18:19 PM »
This is the exact sort of thing that led to The Great Depression of 1929. With other banks heading in the same direction all it would take for them to collapse would be for people to make a run on them also.
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Soldier4Christ
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #173 on:
July 13, 2008, 12:09:34 PM »
China top foreign holder
of Fannie, Freddie bonds
$376 billion in Beijing's portfolio
part of taxpayer-bailout proposals
As politicians call for taxpayer bailouts and a government takeover of troubled mortgage lenders Freddie Mac and Fannie Mae, FreedomWorks would like to point out that a bailout is a transfer of possibly hundreds of billions of U.S. tax dollars to sophisticated investors and governments overseas.
The top five foreign holders of Freddie and Fannie long-term debt are China, Japan, the Cayman Islands, Luxembourg, and Belgium. In total foreign investors hold over $1.3 trillion in these agency bonds, according to the U.S. Treasury's most recent "Report on Foreign Portfolio Holdings of U.S. Securities."
FreedomWorks President Matt Kibbe commented, "The prospectus for every GSE bond clearly states that it is not backed by the United States government. That's why investors holding agency bonds already receive a significant risk premium over Treasuries."
"A bailout at this stage would be the worst possible outcome for American taxpayers and mortgage holders, who have been paying a risk premium to these foreign investors. It would change the rules of the game retroactively and would directly subsidize the risks taken by sophisticated foreign investors."
"A bailout of GSE bondholders would be perhaps the greatest taxpayer rip-off in American history. It is bad economics and you can be sure it is terrible politics."
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Barbara
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #174 on:
July 13, 2008, 12:39:08 PM »
Pastor Roger, I've got to thank you for always taking the time to share these articles with us!! You and the other Admins are truly
watchmen on the the
wall
.
I, for one, really appreciate these 'alarms' that are being sounded while most of America sleeps. Events are happening at break-neck speed and the eerie similarity to the Great Depression should make us all stop and take inventory of our own situations and what will be around us in the coming months!!
Only a few short months ago, we got the DVD's from a Prophecy Conference that was held in February 2008, here in Florida. I'd like to quote a few of the speakers who were discussing the economy and future of the US:
Chuck Missler
:
"...as you look at our predicament in America, it's far more serious than most people have any idea. One example - do you realize that the Bush Administration has borrowed more money than all 42 administrations in the history of this country combined! You add up all the borrowing from all the previous administrations, you come to $1.01 trillion. The Bush administration, just in the last 4 years has borrowed $1.05 trillion.
Daniel Walker, Comptroller of the Currency, is going around the country trying to get the people to get on the case of their Congressmen, cause unless they do something different, the dollar has not much life left in it.
The Financial Times in London published a month ago, the prediction that the US dollar has maybe 5 years left. The next day Merril-Lynch put out a press release that there were only 4 years left for the dollar. We need to understand Robert Pastor and all that background because we know what the plan is - and that's 2010 for the Amero.
The financial predicament of America is serious. But they're gonna scotch tape this thing through the election in 2008 - and I think we're all agreed about the dismal line up of candidates. But candidly, you could put Clark Kent in the White House and it wouldn't make any difference - because whoever steps into that oval office is gonna step into quicksand - because 80% of our short term T-bills have to be rolled over between now and 2010. Our livlihoods depend on borrowing, and I don't mean just individually but collectively. The Treasury has to raise $3 billion per day to keep America afloat. We are in very, very serious shape. And this isn't even being discussed intelligently in any of the campaigns...
David Reagan
:
I just wanted to take a minute to underscore what Chuck said about the economy. I think that we are headed for the greatest economic meltdown in the history of the world, that'll make the Great Depression look like a picnic. And it's because our economy is driven by greed, and the manifestation of that is debt, debt, debt. We are in the greatest debt in the history of mankind, both government and personal. In this country people have got their credit cards maxed out, living in houses they cannot afford. We have demands for gov't handouts and politicians that are willing to respond to those demands.
We have absolutely unbridled gov't. spending, Pork Barrel is the highest its ever been in the history of this nation. The Bush administration has failed to control the economy, and the spending of money has been completely out of control.
But you don't really have to know anything about the economy to know that we're headed for an economic meltdown. All you have to know is something about God's Word. God says, 'You will have no other gods before ME'. Most of America worships at the altar of the almighty dollar, that is our god. It is becoming increasingly our god. But our God is a jealous God, and sooner or later He's gonna touch the dollar and the dollar is going to be worthless.
I would recommend to all of you that you set as one of your major goals to get out of debt, and to stay out of debt, because those who are out of debt are gonna survive this, others are not.
Chuck Missler:
So then we say, 'OK what are we gonna do about it?' We feel a little out of touch with being able to influence. I think there's something for each of us that's far more important than the ballot box. That's the prayer closet. One of the things we need to do personally, each one of us, is to figure out 'What has God called you to do?'
While we talk alot about the mega-churches and the emerging church - there's more people going out the back door than the front door. There are people that are looking to be participants, not spectators to what God is doing. And where are they doing it? There's something you don't see in the statistics and that's in the homes. Across America, we're discovering, there's a groundswell of people who are meeting in small groups, 6 to 12 typically, to study the Word. Now many of them love their churches for lots of good reasons, so its not in lieu of church, but in addition. Their frustration is they really want to get into the Word of God more seriously so they meet during the week - some in neighborhoods, some businessmen, etc.
As I watch this groundswell, as a return to the homes, I'm intriqued in several ways. Because I recall J. Vernon McGee, who was a pretty center line, Word of God kind of guy. He made a prediction several years ago that the real body of Christ in America will ultimately have to go underground, because the attack against them will come from large denominational churches. At the time that startled me. But seeing some of the changes in some of the churches it begins to make sense.
Now, through the internet, we have unbelievable resources available to us, and we're able to fellowship without borders. And I believe one of the things God has called us to do, He's called us to develop this worldwide internet fellowship before these hard times that are before us. After a 60 year ministry, I believe that God is putting new wine in new skins. And as I watch what I think is coming, I think anyone that thinks the next 10 or 20 months is going to be smooth sailing is underinformed. The kind of trauma that's coming on our culture is more serious finacially, culturally, and many ways.
But that's good news! That may sound strange but it is, because that's good news for the kingdom. People who are complacent and apathetic today, within a matter of months, not years, are gonna be desparately looking for answers. And what you and I need to do is to prepare ourselve to provide those answers. All of us need to go forth from here with some kind of personal calling, we've all been called to some specific ministry. We need to ask what God wants us to do each day in terms of the challenges, these dismal circumstances, are gonna provide for us.
It can be the most exciting time of our lifetime, from a kingdom point of view, if we've done our homework!!!
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #175 on:
July 13, 2008, 01:32:46 PM »
Hi Barbara,
Thank you for the kind words. We do try hard to keep ahead of things especially when it is something that involves the Word of God.
I want to make something clear on this commentary you posted that seems to be confusing to some people and a bit of information that is missing. When it is said "Bush Administration" it is not just the fault of President Bush. Yes, he is the head of the nation right now so the ultimate will naturally go to him but this goes much further than just him. President Bush does not have complete authority over this as many think. Many times such things as this is completely out of his control. Much of this blame can and does fall on the shoulders of Congress.
The bit of information that is also left out is where this money is borrowed from. It is from
FOREIGN GOVERNMENTS AND FOREIGN BANKS
. Why is this important? Because it gives more and more control over our own nation into the hands of these people. It becomes easier by the dollar for these foreign entities to have an effect on us and our economy.
The predictions made is that the dollar has only 4 or 5 yrs left. The dollar has already dropped below the Euro just this month. It is flailing in it's death rows as we speak. China has already become the major economic state in the world surpassing the U.S. by leaps and bounds. So this is not prophecy of things to come but rather what we are seeing right before our very eyes.
Another yes, it will not matter who gets into office in the coming election other than it will escalate even quicker if the wrong person gets there. That is the person that wants to increase the size of government and spending on useless programs.
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Barbara
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
«
Reply #176 on:
July 13, 2008, 03:10:56 PM »
Absolutely right, Pastor Roger!
What I posted was from this past February during a question/answer type period. Thanks for clarifying, I only picked out a small portion of a 3 day conference and I can see it wasn't really clear.
There was alot more said about the 'wrong' candidates but wasn't sure if I should post it. It was in a Christian spirit and it was true but wasn't sure I wanted to go there. There was a lot of talk about that candidates stand on abortion and gay marriage and how they could not ever support such people (in Feb. there were still 2 candidates, Hillary and Obama). There was also a reference to a website by an African American Pastor who does not support abortion and couldn't support a candidate that did - his site is called 'Obamanation' (I thought that expressed his sentiments very clearly.)
The people they quoted for the 4-5 year period was for illustration, but they were warning that things might only get to the elections and that this year was going to bring gigantic changes. I wish they'd have another conference to get more information - it was very interesting. But, as you said, it is unfolding exponentially, right before our eyes, only a few months later.
They also further discussed exactly what you spoke of - that's how Foreign Governments are buying up US institutions and businesses like there was a 'fire sale', and how we were loosing our beloved country, while most aren't aware of what is happening around them. Also, that as a believer in the Word of God it is now hard to even identify with what we see going on in this country, that it has changed so much in our lifetime.
Basically, they were warning us back in February to get ready for what's happening now and worse, and what we should do as Christians to help with the wreckage. So if we strive to live according to what is written in the Bible, and hold it dear to our hearts, and we watch this culture degenerate into something that's totally foreign to us, we realize this country is divided - and Jesus said, '...a house divided against itself cannot stand.'
So there'll only be one kingdom we'll be able to identify with and that is the Kingdom of God.
Bill Cloud said:
"...if we've received this seed (the Bible), we're supposed to produce the fruit of this seed. And it might mean that what we consider bad things will happen to good people. But I want to remind you very quickly...Joseph went to prison because he did the right thing. But had he not gone to prison, he could not have interpretted the dream of the cup bearer. And if he had not interpretted that dream, then he couldn't have been summoned before Pharoah to interpret his dream - in other words, what he considered to be a bad thing was only God bringing about His purposes of restoring things back to the way they were supposed to be. The brothers became one, and all things were put back to the way God intended."
Kinda helps me keep things in perspective.
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Soldier4Christ
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
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Reply #177 on:
July 13, 2008, 03:38:14 PM »
Quote from: Barbara on July 13, 2008, 03:10:56 PM
What I posted was from this past February during a question/answer type period. Thanks for clarifying, I only picked out a small portion of a 3 day conference and I can see it wasn't really clear.
Yep and it didn't take a prophet even before then to see what was going to happen. These things have been in the works for a very long time now. All one needed to do was to open their eyes to what is happening around them rather than to stay in their own little protective shells that they have built around themselves.
Quote
There was alot more said about the 'wrong' candidates but wasn't sure if I should post it. It was in a Christian spirit and it was true but wasn't sure I wanted to go there. There was a lot of talk about that candidates stand on abortion and gay marriage and how they could not ever support such people (in Feb. there were still 2 candidates, Hillary and Obama).
No problem, I can understand that. Personally I jump on that subject quite frequently. I have no problem discussing it and have done so many times here on the forum.
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nChrist
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
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Reply #178 on:
July 14, 2008, 01:57:01 AM »
Quote
So then we say, 'OK what are we gonna do about it?' We feel a little out of touch with being able to influence. I think there's something for each of us that's far more important than the ballot box. That's the prayer closet. One of the things we need to do personally, each one of us, is to figure out 'What has God called you to do?'
Brothers and Sisters,
The above paragraph hit me as speaking truthful volumes. I can't remember which post I clipped this from, so I apologize for that. For Christians, we should know that we can't rescue this evil world from it's path of destruction.
OFTEN, we should remember and give thanks that GOD has already rescued us from the curse of sin and death. Our focus is JESUS CHRIST and GOD'S Will for whatever hours, days, months, or years we have left in this lost and dying world. Christians still have work to do or GOD would have already taken us home. Some are still accepting CHRIST as LORD over their lives.
The Holy Bible tells us what is definitely going to happen in this evil world. There is urgency for many things left to be done. This is a time for Strength in CHRIST and standing up. We have the most priceless "commodity" left on this earth that has the power to actually help people in a PERMANENT WAY:
GOD'S WORD - THE GOSPEL OF THE GRACE OF GOD!
We already know what's going to happen on this earth, but we also know there is MUCH MORE than the temporary and horrible things that are GOING TO HAPPEN! There is a much bigger question we can ask our friends, family, and strangers we have never met:
WHERE WILL YOU SPEND ETERNITY?
We already know there is much more than just this short life in this evil and dying world because we already HAVE IT!:
ETERNAL LIFE IN JESUS CHRIST - OUR LORD AND SAVIOUR FOREVER!
Is there room at the CROSS for more?
YES!
Have the lost done things too horrible to be forgiven?
NO!
Did JESUS CHRIST love them enough to die on the CROSS for their sins?
YES!
Are any of us worthy of HIS GIFT, GRACE, LOVE, and SALVATION?
NO!
Is it TOO LATE to beg GOD for forgiveness and ask JESUS CHRIST to pull us out of the stinking pit of sin that IS an ETERNAL CURSE OF PUNISHMENT?
NO! - It's not too late!
Do it right now - tomorrow might be too late!
GOOD NEWS!
1:
Romans 3:10 NASB as it is written, "THERE IS NONE RIGHTEOUS, NOT EVEN ONE; THERE IS NONE WHO UNDERSTANDS, THERE IS NONE WHO SEEKS FOR GOD; ALL HAVE TURNED ASIDE, TOGETHER THEY HAVE BECOME USELESS; THERE IS NONE WHO DOES GOOD, THERE IS NOT EVEN ONE."
2:
Romans 3:23 NASB for all have sinned and fall short of the glory of God,
3:
Romans 5:12 NASB Therefore, just as through one man sin entered into the world, and death through sin, and so death spread to all men, because all sinned--
4:
Romans 6:23 NASB For the wages of sin is death, but the free gift of God is eternal life in Christ Jesus our Lord.
5:
Romans 1:18 NASB For the wrath of God is revealed from heaven against all ungodliness and unrighteousness of men who suppress the truth in unrighteousness,
6:
Romans 3:20 NASB because by the works of the Law no flesh will be justified in His sight; for through the Law comes the knowledge of sin.
7:
Romans 3:27 NASB Where then is boasting? It is excluded. By what kind of law? Of works? No, but by a law of faith.
8: Romans 5:8-9 NASB But God demonstrates His own love toward us, in that while we were yet sinners, Christ died for us. Much more then, having now been justified by His blood, we shall be saved from the wrath of God through Him.
9:
Romans 2:4 NASB Or do you think lightly of the riches of His kindness and tolerance and patience, not knowing that the kindness of God leads you to repentance?
10:
Romans 3:22 NASB even the righteousness of God through faith in Jesus Christ for all those who believe; for there is no distinction;
11:
Romans 3:28 NASB For we maintain that a man is justified by faith apart from works of the Law.
12: Romans 10:9 NASB that if you confess with your mouth Jesus as Lord, and believe in your heart that God raised Him from the dead, you will be saved;
13:
Romans 4:21 NASB and being fully assured that what God had promised, He was able also to perform.
14:
Romans 4:24 NASB but for our sake also, to whom it will be credited, as those who believe in Him who raised Jesus our Lord from the dead,
15:
Romans 5:1 NASB Therefore, having been justified by faith, we have peace with God through our Lord Jesus Christ,
16: Romans 10:10 NASB for with the heart a person believes, resulting in righteousness, and with the mouth he confesses, resulting in salvation.
17: Romans 10:13 NASB for "WHOEVER WILL CALL ON THE NAME OF THE LORD WILL BE SAVED."
Thanks be unto GOD for HIS unspeakable GIFT!, JESUS CHRIST, our Lord and Saviour forever!
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Barbara
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Re: Stock Market Crash Expected In 2008 To Be Worse Than 1929
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Reply #179 on:
July 14, 2008, 10:42:39 AM »
Amen, blackeyedpeas!!
As we see the darkness approaching, His light within us will get brighter and brighter if we share it with the lost during these strange times. There will be so many out there that need to hear about His love. Jesus told us to 'make disciples of all nations' and we need to do what He directed!
Donald Perkins
said:
"We need to let the times be a catalyst for evangelism. We're seeing birth pains that will produce an eternal kingdom. Scripture has revealed to us how the times are going to look. But the birth pains must come in order for that baby to be delivered. And what we need to do as Christians, because we know the times are short, is we need to allow God to use us as never before. We need to ask God 'what do you want me to do in these latter days to reach a dying world?'
As for the church, we win, it's a win/win situation for us. So I want as many people as I can find to win like I'm gonna win. That means I want to be an effective evangelist to reach a dying world who needs Jesus Christ!"
David Reagan:
"My major concern these days is not the Presidential election, my major concern these days is one of the surest signs of the time that Jesus is coming soon, and that is the abysmal condition of the church. The church today is up to its ears in apostacy, the Bible predicts that will be the case in the end times. It is rampant. When you have a person like Bishop Spawn writing books saying that Jesus was not born of a virgin, Jesus was not resurrected, etc.
Let me tell you, there is no group in America today that is immune to apostacy, that is immune to deception. We never thought we'd reach the point where Southern Baptists would be divided over the inerrancy of the Bible. Where a break away Southern Baptist group would hold a convention in Atlanta and have as its keynote spiritual speakers 3 people, Jimmy Carter, Al Gore and Bill Clinton!!! We are talking about apostacy beyond anything we can imagine these days!
We wouldn't think that Calvary Chapel would have a pastor come from Dallas, Texas, and hold a press conference, and say at that press conference '...there are many roads to god, and all of them are by good works...' Then set up tables in his Calvery Chapel where people can go and worship Greek orthodox icons. Thank God, he was defrocked!! But that is the kind of apostacy we're seeing...
I want to encourage you to do something - I want to encourage all of you to be Bereans. Become familiar with the Bible, and then test everything by Gods Word. The average professing Christian cannot test the Word because they don't know the Word.
Whenever I feel like it's all going down the drain, when I look at the choices we have for President, when I look at the apostacy in the church, I have to go back to Psalm 2, it's my cornerstone. You know why? Because it says that when all of the nations of the world are in revolt against God, which they are right now, it says 'God sits in the Heavens laughing'!!
He is not laughing because He doesn't care.
He is laughing because HE has the wisdom, and the power to orchestrate all the evil of mankind to the Triumph of Jesus Christ!!!!!!!!!!
Maranatha!!!"
Joe Van Koevering
:
"Behold what manner of love the Father hast bestowed upon us!! That WE should be called the sons of God! And therefore the world knowest us not, because it knew Him not. Beloved now are WE the sons of God, and it doth not yet appear what we shall be. But we know that when He shall appear we shall be like Him, for we shall see Him as He is. And every man that hath this hope in Him, purifieth himself, even as He is pure."
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