STOCK MARKETS SLUMPING - Why??
Posted by: prophetic <prophetic@...>
-Andrew Strom.
Several days ago there was a 200+ point drop in the US Stock-
market. Yesterday there was another 300+ plunge. And today
it looks like another rout going on. What is causing this - and
does it have anything to do with the "Housing Crash" and other
predictions that we have been publishing on this List for the past
year or so?
Here is what the experts are saying (-This is from the mainstream
Marketwatch website - one of the largest and most respected):
"Around the globe, rout in credit markets accelerates"
"Subprime could create global crisis, economist says"
"World is one "Bear-like' event away from liquidity freeze, Zandi warns"
By Rex Nutting, MarketWatch - Jul 26, 2007
"WASHINGTON (MarketWatch) -- The problems in the U.S.
subprime mortgage market could spiral out of control into a global
financial crisis, economist Mark Zandi said Thursday.
With a "high level of angst" in the financial markets about who will
take the losses from more than $1 trillion in risky mortgages, we
could be just one hedge-fund collapse away from a global liquidity
crisis, said Zandi, chief economist for Moody's Economy.com.
A global meltdown is not likely, but the risks are growing, Zandi
emphasized in a conference call with reporters following the release
of a new study on subprime debt that concludes that the housing
crisis could be deeper and last longer than investors now believe.
And it could spread. "Mounting mortgage delinquencies and defaults
now pose the most serious threat to the global financial system
and economy," Zandi said in his report. "If there is a fault line in
the global financial system, it runs through the U.S. housing and
mortgage markets," he said.
Zandi's comments came as U.S. financial markets reeled from
a growing credit crunch..." -[ http://www.marketwatch.com ]
As you can see, this "credit crunch" and the accompanying
stockmarket declines are directly related to the Housing crisis
that is ongoing - and likely to be with us for several years.
When we first published warnings of this Housing Crisis almost a
year ago, it was definitely not a "popular" viewpoint. But it is
bocoming more popular as the crisis worsens month by month.
Please be aware, this is going to be with us for a LONG TIME.
And it is going to get WORSE.
So what do we, as Christians, DO about this?
Well - obviously I am hoping that we have already made moves
to GET OUT OF DEBT as much as possible. But the real answer
to this question is SPIRITUAL.
I was crying out to God about all this yesterday, and one thing
I was strongly led to pray was that this economic crisis will not
be "WASTED" on us. In other words, as things grow worse, that
this nation will not harden its heart at losing its precious "lifestyle",
but rather that its heart will be softened and broken - and become
hungry for spiritual things once again. -That the complacency and
apathy that comes with materialism will be broken - and people
will begin to seek God more and more with all their heart. -That
this crisis not be WASTED on us - but that GREAT GOOD might
come of it.
-For there are two main paths that nations can take when major
crises hit - and affect their lifestyle and standard of living. -They
can either grow hardened and bitter against God, or they can
become more broken and softened and hungry towards Him. We
need to pray that the latter will be the case. In fact, we need to
be URGENT in prayer that this crisis will not be "wasted" on the
Western nations, but that it will prepare our lands for Revival -
that it will help to "break up the fallow ground".
As I said, this could go either way, my friends. We really do need
to PRAY that our nations will not become hardened, but rather
humble and broken and spiritually hungry through what is happening.
All that can be shaken will be shaken. And the harvest fields will
be white unto harvest. Are you ready and prepared for this time,
my friends?
God bless you all.
Andrew Strom.