Watch Date Update
Nov 06, 2009
Well, in spite of government manipulation of the numbers, the unemployment rate for October zoomed past 10% and hit an unexpected 10.2%.
Not that this will directly affect the stock market, of course. Because corporations have been laying off employees, they are the ones "cutting costs" and saving money. High unemployment can actually affect the stock market in a positive way.
There ought to be a law about that!
A year ago trillions of dollars flowed from the American consumers down on the street to the wealthy of Wall Street. So the collapse of Wall Street was postponed, but the consumers had that much less cash to buy goods and services. Then they wonder why consumers will only spend money when government pays them to buy cars and houses!
Our next watch date, as you probably recall, is Monday, November 9. To this, I have to add November 10 as well. Most likely, these are financial watch dates. The other day, the Fed announced that it would keep interest rates at zero, and will probably continue to purchase Treasury bonds. This will anger the other nations that have been propping up our economy by not dumping dollars (so far).
Bernanke says, "So what? What are they going to do about it? They can't dump dollars very fast without making the rest of their dollars worthless. If they pull the plug, they lose, too."
Ah, yes, the wonders of globalism. Whatever happens to one country happens to all of them. We're all one big dysfunctional family.
Even so, India recently purchased $200 tons of gold from the IMF. No doubt they paid for it in dollars. No doubt other countries are jealous and wonder how much bribe money it takes to get such a deal approved.
Watch also the Galleon scandal. It's just a run-of-the-mill insider trading scandal--so far. That is probably the least of their sins. I hear they are involved in some pretty shady stuff around the world. All is not well in the New World Order. There are two factions at war with each other. Bankers and Ponzi schemers are being suicided in record numbers.
Funny thing about evil . . . it always destroys itself in the end, because an evil system is composed of evil men, and they all want to rise above their colleagues in wealth and power. They are willing to do just about anything to accomplish their ambitions.
That is the difference between them and the Kingdom of God.
Dr. Stephen Jones