Stand by for Black Monday

[Pastor Guest]

Stand by for Black Monday | News

The City is bracing itself for a "Black Monday" meltdown after President Bush admitted he had failed to land a bank bail-out deal.

Senior market figures said the FTSE-100 could fall by between 600 and 1,000 points when the stock market opens next week if no deal is forthcoming.

[Pastor Guest]

Record Drops in Dow and S&P

Record Drops in Dow and S&P - CNBC By The Numbers - CNBC.com

With volatility continuing to soar, the Dow [.DJIA 10394.92 -748.21 (-6.71%) ] and S&P [.SPX 1110.0 -103.01 (-8.49%) ] were on track for their biggest point losses. Prior to today, the biggest point drops for the Dow & S&P was after the 9/11 attacks in 2001. All the major indices were down over 6% for the first time since 1998. The VIX [VIX 46.73 11.99 (+34.51%) ] is poised to close at levels not seen since 1988.

As I said on June 18, 2008 -

Originally Posted by Pastor Guest Jesus has warned us that there would be famines and other calamities in the last days. I have been teaching since January that the effects of the Global financial crash would begin to be felt in a major way this fall. The crash has actually already taken place, but the markets are being propped up by the central banks. Like I said in a previous post, people are going to see things take place within the next year that they have never imagined.

[Michelle]

However, I believe that on Tuesday it regained much of what was lost, and that the dollar gained against the euro

[Jkam]

Watching the news just the other day, they had investors in France on their knees praying for supernatural intervention to which God i do not know, many were in tears, with distressed faces, there was also a man in America who lost all his money on the stockmarket, he turns around and kills his wife and children, then turns the gun on himself. This is a time where the devil is seeking to steal, kill, and destroy a lot of individuals, who constantly reject the Lord Jesus Christ, and continue on in their own ways, in the current financial crisis we are facing, this is an opporturnity for a lot of people who have trusted in their riches to seek the Lord, i have had the chance to share the gospel with a lot of people who are well off in life, the majority have laughed at me, mocked me, or simply just told me it's not irrelevant to them. Lets all pray that we get more opportunites to share the gospel with the unsaved, i feel that time is running out, and there is more carnage to come.

John 3:16 For God so loved the world, that he gave his only begotten son, that whosoever believeth in him shall not perish, but have everlasting life.

[Michelle]

October 12, 1837
Congress fails to calm panic
A few months after praising the success of the "American experiment" in his inaugural address, President Martin Van Buren's faith in the nation was challenged by the Panic of 1837. While rampant expansion and over-extended credit played important roles in causing the crisis, Van Buren's mentor, former President Andrew Jackson, was also a culprit. Jackson's decision to dissolve the Second Bank of the United States contributed to rising inflation and helped trigger the Panic. Van Buren unsuccessfully attempted to cure the depression with a distinctly Jacksonian brew of deflationary tactics designed to protect the national government's fiscal health. His failure to calm the panic prompted Congress to take action on October 12. On this day, the House sanctioned the use of Treasury notes, provided that they didn't exceed $10 million. Unfortunately, Congress's efforts to stabilize the nation's currency failed to lift the depression, which continued to plague the country for the next seven years.