Stocks Fall, Oil Falls, Currencies Mixed

The World Currency Markets Have Been More Unstable This Year Than Last

2008 has thus far been a year of rising then falling oil prices, combined with economy uncertaintities and less stable currency markets than the previous year or two.

The Euro had major gains against the US dollar, but gave up a lot of those gains in the past month or so (apparently because of its own problems and US economic uncertaintities combined with the situation in Georgia).

World stock markets reacted yesterday to news of continuing financial problems of US financial institutions (Lehman Brothers being the apparently the main one yesterday):

Wall Street sees worst day in 7 years, with Dow down 504 points, as financials implode.

CNN – Sept 15, 2008

NEW YORK (CNNMoney.com) — Stocks tanked Monday, amid the largest financial crisis in years after Lehman Brothers filed for the biggest bankruptcy in history, Bank of America said it would buy Merrill Lynch and AIG slumped on fears that it can’t raise cash.

Treasury prices rallied as investors sought the comparative safety of government debt, sending the corresponding yields lower. Oil prices tumbled, falling well below $100 a barrel on slowing global economic growth. The dollar rallied versus the euro and gold prices spiked. http://money.cnn.com/2008/09/15/markets/markets_newyork2/?postversion=2008091516

So yesterday, the US stock market had its biggest drop since 9/11/01. This morning, it also is down (another US company, AIG is also being speculated as a problem), though it can still rise:

Stocks extend slide on worries about health of AIG

By TIM PARADIS
AP Business Writer

NEW YORK (AP) — Wall Street is extending its massive decline as nervous investors grapple with concerns about insurer American International Group Inc. and await the Federal Reserve’s decision on interest rates.

Worries about AIG have intensified after several ratings agencies reduced their ratings on the company. Investors are worried that a failure by the world’s largest insurance company would touch off a wave of financial turmoil.

And comments from Goldman Sachs Group Inc. about the banking sector added to investors’ glum mood a day after the Dow Jones industrial average fell more than 500 points.

The Dow is down 113 at the 10,803 level. http://hosted.ap.org/dynamic/stories/W/WALL_STREET?SITE=VANOV&SECTION=HOME&TEMPLATE=DEFAULT

As I have been writing all year, there will be ups and downs, but the long term trend for the US dollar will be down. As an American (but not really an investor), the changes in the economic winds can be a bit unsettling, but that is partially why the Bible contains prophecy.

No matter where in the world you live, you may wish to reflect on an insightful comment made by the late Herbert W. Armstrong. He once held up a Bible and stated something to the effect of, “I read the end of the book, and in the end we win”.

And in the Bible, notice what the Apostle Peter wrote:

We have also a more sure word of prophecy; whereunto ye do well that ye take heed, as unto a light that shineth in a dark place, until the day dawn, and the day star arise in your hearts (2 Peter 1:19, KJV).

In the end we win, but until then, times may be tough for many.

Several articles of possibly related interest may include:

Did The Early Church Teach Millenarianism? Was the millennium (sometimes called chiliasm) taught by early Christians? Who condemned it. Will Jesus literally reign for 1000 years on the earth? Is this time near?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? When does the six thousand years of human rule end?
Africa: Its Biblical Past and Prophesied Future What does the Bible teach about Africa and its future? Did the early Church reach Africa? Will God call all the Africans?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
The Arab World In the Bible, History, and Prophecy The Bible discusses the origins of the Arab world and discusses the Middle East in prophecy. What is ahead for the Middle East and those who follow Islam?
Asia in Prophecy What is Ahead for China? Is it a “King of the East”? What will happen to nearly all the Chinese, Russians, and others of Asia? China in prophecy, where?
End of Mayan Calendar 2012–Might 2012 Mean Something? There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans (the Hindus may have some predictions for the next decade as well). Do these Mayan/Hindu/Hopi prophecies have any value? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012?
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? What is ahead for Europe?
Islands and Bible Prophecy What’s ahead for islands? What does the Bible prophesy about them?
Japan, Its Biblical Past and Future, Part 2: Prophecy Japan in prophecy. What is prophesied for Japan. Will God save the Japanese?
Mexico, Central America, South America, and Brazil in Prophecy What will happen to those of Latin America? Will they have prosperity? Will they suffer in the future?
Russia: Its Origins and Prophesied Future Where do the Russians come from? What is prophesied for Russia? What will it do to the Europeans that supported the Beast in the end?
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? True religion should be based upon the true gospel.
Are You Saved? Do You Love Jesus? What is a True Christian? What is the Gospel? Evangelist Richard Ames answers those important questions.