Dow Dropped 486
The Strength of Dollars Have Long Been Part of the “Pride of the Power” of the USA (which will be broken per Leviticus 26:19)
While many around the United States and the rest of the world rejoiced yesterday with Barack Obama’s victory, Wall Street had a down day:
Wednesday, November 05, 2008
Uptick
Floored: Dow Plunges 486 Points
Matt Egan
Election-Day euphoria vanished in a cloud of negativity on Wednesday as the Dow plummeted almost 500 points, its worst post-election plunge on record. The losses narrowly surpassed the Dow’s 4.51% decline the day after Franklin Roosevelt’s win in 1932 during the Great Depression…
The Dow Jones Industrial Average lost 486.01 points, or 5.05%, to 9139.27, the broader S&P 500 dropped 52.98 points, or 5.27%, to 952.77 and the Nasdaq Composite slid 98.48 points, or 5.53%, to 1681.64. The consumer-friendly FOX 50 fell 42.13 points, 5.49%, to 724.71…
Economy Back in Focus
Obama’s election was widely expected on Wall Street and elsewhere, so Wednesday’s losses likely weren’t a knee-jerk reaction to his victory.
“The election of Obama does not change anything from an economic, credit or housing point of view. Nothing has changed other than the fact that people will now stop focusing on the election and start to focus on the economy,” said Kenneth Polcari, managing director at ICAP Equities.
There was no shortage of economic news on Wednesday for Wall Street to focus on. Unfortunately, none of it was positive.
The ADP Employment survey released Wednesday showed the U.S. lost a higher-than-expected 157,000 private-sector jobs last month. However, the ADP report has had limited success recently in predicting the government’s more closely-watched report.
Another key economic report showed the nation’s service sector contracted further in October, giving yet more evidence of a U.S. recession. The Institute for Supply Management, a private research firm, said its non-manufacturing index fell to 44.4 last month, down from 50.2 in September.
Looming in the not-too-distant future is Friday’s all-important monthly jobs report, which is expected to show the U.S. lost 175,000 jobs in October on top of the 160,000 lost the month before…
Global Markets
Overseas, Asian investors responded positively to Obama’s victory. Japan’s Nikkei 225 Index gained 406.64, or 4.46%, to 9521.24. In Hong Kong, the Hang Seng Index gained 455.82 points, or 3.17%, to 14840.16.
European reaction was more tepid as London’s FTSE 100 closed down 2.4% and Germany’s Dax lost 2.1%. http://www.foxbusiness.com/story/markets/election-euphoria-fades-dow-plunges/
However, on Tuesday (the day of the election), the stock market went up. Despite some of the more socialistic policies of Barack Obama (which like certain ones of the current Bush administration will likely increase total US debt), it is likely that the stock market will go both up and down during his administration. Ultimately, however, the US dollar will not be worth the cotton-paper that it is written upon.
But as I have been writing for a long while, since the Great Tribulation cannot begin prior to 2012 (because of Daniel 9:27 and other factors, and most likely not until 1-4 years later than 2012), if the Great Tribulation begins under Barack Obama’s watch, it will not begin until sometime in his possibly second term.
Several articles of possibly related interest may include:
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?
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?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled since he is to be the USA president?
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?
Can the Great Tribulation Begin in 2009, 2010, or 2011? Can the Great Tribulation begin today? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord?
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