Whether or not one is a knowledgeable economist who understands all of the
complex goings on in the financial world, or all of the shady jargon that
economists use, the bottom line is still simple enough to understand; and
that is that contrary to what national leaders and world leaders would like
to believe, and have been trying to convince us to believe as well, the
global economy is NOT getting better. The so-called "recovery" is in fact
slowing down to a snails pace. We are STILL headed towards a major global
economic crash of significant proportions.

Consider some of the key phrases from the following news article:

". . . this is not the economic recovery the nation had hoped for."

". . . Americans may confront high unemployment and lackluster growth for
some time to come."

"This is going to be a long slog."

". . . the American economy is gradually losing steam."

". . . growth is slowing not only in the United States but in many parts of
the world."

Personally, I am not knowledgeable enough in such matters to even predict
what the financial picture may look like in coming months and years, but I
certainly know where this is all eventually headed, because God's Word makes
it as plain as day:

"And he causeth all, both small and great, rich and poor, free and bond, to
receive a mark in their right hand, or in their foreheads: And that no man
might buy or sell, save he that had the mark, or the name of the beast, or
the number of his name. Here is wisdom. Let him that hath understanding
count the number of the beast: for it is the number of a man; and his number
is Six hundred threescore and six."
Revelation 13:16-18, KJV


Market Drop Signals Fears About Global Recovery

By GRAHAM BOWLEY and CHRISTINE HAUSER - NYT

August 11, 2010


As economic recovery wavers in the United States, evidence is mounting that
growth abroad is also slowing and may be unable to sustain the fragile
rebound here.

Concerns about flagging global growth weighed heavily on stocks Thursday, as
Japan's Nikkei index dropped more than 2 percent before recovering some of
those losses, which came off steeper declines Wednesday in American
equities.

Those market drops followed a spate of developments signaling a slowing
economy both in the United States and abroad. On Tuesday, Federal Reserve
officials warned that the pace of recovery in the United States had slowed.
Then on Wednesday came news from China suggesting its fast-growing economy
was cooling. And later that day, the Bank of England reduced its already
diminished forecast for the British economy.

Finally, new trade figures from Washington showed that American exports were
faltering, a sign that hard-pressed domestic manufacturers could not rely on
overseas markets to ease their pain at home.

Those reports sent the Dow Jones industrial average tumbling in a 265-point
decline, moving it back into the red for the year. The broad market fell 2.8
percent. And those declines carried into Asia on Thursday morning.

The optimism that had pervaded Wall Street only weeks ago has faded quickly.
In its place is a growing realization of what many Americans have been
feeling in their bones: this is not the economic recovery the nation had
hoped for. While the economy is growing again, it is growing too slowly to
create many jobs or to increase household incomes.

Given the uneven rebound in the United States, and now signs that the
world's other economic engines are slowing, economists say Americans may
confront high unemployment and lackluster growth for some time to come.

"This is going to be a long slog," said David H. Resler, the chief United
States economist at Nomura Securities International.

The trade report from the Commerce Department, which showed exports fell in
June, prompted economists to sharply reduce their estimates of how fast the
economy had been growing this year.

With the Chinese economy slowing, and European governments tightening their
belts to bring down worrisome budget deficits, the fear is that the United
States economy will get far less help from overseas than many people had
expected.

Without that lift from abroad, and with domestic spending moribund, the
American economy is gradually losing steam. Growth is slowing quarter by
quarter. In the final three months of 2009, the economy grew at an annual
rate of 5 percent. Growth then slowed to a 3.7 percent pace in the first
quarter of 2010, then 2.4 percent in the second quarter.

But after downward revisions to other economic data like inventories and the
export figures, even that 2.4 percent annual rate is now looking too rosy --
and may even be as low as 1 percent, some economists say.

The financial markets -- stocks as well as bonds -- have begun to adjust to
the reality that growth is slowing not only in the United States but in many
parts of the world. The reaction Wednesday was swift and painful, with stock
markets around the world suffering their biggest setbacks since June.

The Dow Jones industrial average fell 265.42 points, or 2.49 percent, to
10,378.83, while the Standard & Poor's 500-stock index dropped 31.59 points,
or 2.82 percent, to 1,089.47. The Nasdaq fell 68.54 points, or 3 percent, to
2,208.63. Trading was relatively light, which exaggerated the decline.

With Wednesday's decline in U.S. equities markets, the Dow has once again
wiped out all of its gains for the year. It is down nearly 0.5 percent so
far in 2010, while the S.& P. 500 is off 2.3 percent. The Nasdaq is down
about 2.7 percent.

As stocks declined, investors once again rushed for safety in government
debt like United States Treasury securities, driving benchmark market
interest rates to their lowest levels in more than a year. Bonds extended
their gains from Tuesday when the Fed announced that it would use the
proceeds of its huge mortgage-bond portfolio to buy long-term Treasury debt
in an effort to keep rates low and encourage growth. The yield on 10-year
Treasury notes -- a benchmark for many home mortgages and corporate loans --
fell to 2.68 percent, from 2.76 percent late Tuesday.

Investors now expect interest rates to remain low for months, if not years.
Government bond yields fell even more sharply in overseas markets as signs
emerged of a slowdown in growth there.

Caught in the crosswinds was the dollar. It had fallen over the last two
months on investors' expectations that the rest of the world was growing
more rapidly than the United States, but it reversed course on Wednesday, at
least against the euro. After declining more than 10 percent against the yen
in the last three months, the dollar dropped further to 84.72 yen on
Wednesday, the lowest level since April 1995, before stabilizing Thursday.

Nigel Gault, the chief United States economist for IHS Global Insight, said
the June trade deficit, combined with other data, placed the economy "on
even shakier ground than it seemed, and underlining why the Fed has shifted
towards an easing bias."

The Commerce Department said the trade deficit widened to $49.9 billion in
June, the largest gap since October 2008. Exports fell by 1.3 percent.

In China, several government indicators, including industrial output, retail
sales and bank lending, slowed slightly in July, the government said. The
data provided a fairly consistent snapshot of a country where economic
growth remained the strongest in the world, but where the manic spending of
the last few months had started to fade.

In Britain, the Bank of England cut its economic growth forecast, predicting
annual growth to peak at 3 percent, less than the 3.6 percent it had
predicted as recently as May. It blamed the uncertain pace of the recovery
in the United States and the rest of Europe and reluctance by banks to
increase lending.

Tom di Galoma, head of United States rates trading at Guggenheim Capital
Markets, said the Fed's move on Tuesday underscored how concerned policy
makers were about the state of the economy -- a concern ordinary Americans
and, increasingly, Wall Street now share.

"There is certainly a lot of angst about when this recovery is going to take
shape," Mr. di Galoma said.



Jeff Snyder, SysOp - Armageddon BBS  Visit us at endtimeprophecy.org port 23
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