I’ve been hearing from everyone that I’m crazy and totally wrong because nothing happened on Monday, September 14, 2015 (Rosh Hashanah).
Well, I’m not flinching. Not by a long shot. Plenty happened this weekend. Yes, you’re right. The U.S. market didn’t crash, but plenty of other markets had a rough go, and it aint over yet.
On Friday, the 14th anniversary of 9/11/01, our government all but signed, sealed and delivered a promise to not only give a nuclear bomb to Iran, but offered to pay for it. In doing so, they put Israel, the American people, the world, in jeopardy.
The Bible is very clear: “For the day of the Lord upon all the nations is near; As you have done [to Israel], it shall be done to you; Your reprisal shall return upon your own head” (Obadiah 1:15). Make no mistake, the Bible never lies.
On September 12, less then 24 hours after that vote, a Northern California wildfire, ranked as the most destructive this year, erupted. The Valley Fire has destroyed 67,000 acres, nearly 1,000 homes, buildings and other structures, and displaced 23,000 people. Only 15% is contained.
Along with the Valley Fire is the Butte Fire, begun on 9/9/15. Seventy-two thousand acres, close to 300 homes, buildings and structures have been destroyed. Only 37% is contained.
People have called the Valley Fire “Armageddon-like” and “post-Apocalyptic.” Fire officials have described the rapid, initial rate of spread as “nearly unprecedented.” About 40,000 acres were destroyed in the first 12 hours. The fire’s intensity peaked on Saturday, Elul 29, the last day of the Shemitah. It has and will cost taxpayers untold billions.
On Monday, September 14, 2015, Chinese stocks took another hit after some depressing economic news. Growth of investments, like real estate, sank to its lowest level in 15 years while production growth missed forecasts. To stop the bleeding, the Chinese government has mandated that you can buy stock, but not sell. Though this appears to be a viable solution, it keeps potential investors away.
Also on Monday, Asian currencies and Turkey saw fresh lows, and the Bank for International Settlements (BIS), the central bank of central banks, warned that emerging-market volatility, the increase in global debt loads, rising loan defaults, and an end to the sustained period of artificially suppressed interest rates could trigger a major financial crisis.
During this Shemitah year, Brazil’s currency is down by over one third, and their credit rating was downgraded to junk, threatening to deepen their already worst recession in 25 years. Russia’s currency is down by half.
Canada announced last week it is now in recession. Their numbers are worse now than in 2008. Mexico is a quarter or two behind Canada. France, the 6th largest economy, has a total debt of 280% of its GDP. Spain, Italy, Portugal, are equally fragile.
This week, September 16 and 17, the Fed will decide whether or not to raise interest rates. Watch.