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June 24, 2016
Stock Market Drop After U.K. Brexit Decision:
Just another market correction?
$127 trillion in short-term government obligations
Say this could be something much worse
Paul Evans: Overall, this much panic might be thought to be a typical part of one of those 20 percent market corrections that only serve to enrich the wealthy, the problem with this being that the U.S. government faces short term, basically unfunded mandates and obligations totaling about $127 trillion, so the question is, is this the straw which breaks the camel’s back? The real danger to the market is that people find out that both the stock market and our currency are basically 50 percent to 80 percent over-inflated versus what they should be. Only God knows what the future holds, but it looks pretty bleak to me as well as to all of us who know the truth.
Fox Business News: (today’s market summary): “U.S. equity markets closed just off session lows Friday afternoon, but deep in negative territory, as investors rushed to sell stocks after the U.K. voted to exit the European Union. At the closing bell, the Dow Jones Industrial Average sank 611 points, or 3.39% to 17399. The S&P 500 dropped 76 points, or 3.60% to 2037, while the Nasdaq Composite shed 202 points, or 4.12% to 4707.”
Business headlines such as SEC Continues to ‘Closely Monitor’ Markets After Brexit (also Fox Business News, June 24, 2016) serve only to feed the speculative fires.
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Proverbs 13:7 – There is that maketh himself rich, yet hath nothing:
there is that maketh himself poor, yet hath great riches.
(King James version)
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