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Pastor Kevin Swanson makes two good points.
1. American stocks are overvalued.
2. There will be a big correction in 2024.
"Are American stocks overvalued?
The NASDAQ stock index has hit an all-time high, closing Friday at 16,826. That’s up from 1,204 in 2009, a 14-fold increase.
The Dow Jones Industrial Average closed for the year 2023 at 37,690, up from 7,060 in 2009. That’s a 5-fold increase. Meanwhile, almost every other stock market in the world hasn’t come close to these valuations.
WolfStreet.com reports that the Chinese Shanghai composite is still where it was in 2009. Japan’s Nikkei is leveled off where the index stood in 1989. The UK FTSE Index is up about 50% since 2009. Spain’s IBEX index is still where it was sitting in 2009. Canada’s Index is up about 40% from 2008.
Economist predicts 2024 “biggest single crash year in our lifetimes”
Is the American industry really doing 20 to 100 times better than England, China, and Japan?
U.S. economist Harry Dent told Fox Business: “Since 2009, this has been a 100% artificial [economy], with unprecedented money printing and deficits; $27 trillion over 15 years, to be exact. … We’re in a dangerous state. 2024 is going to be the biggest single crash year we’ll see in our lifetimes.”
The economist forecasts an 86% crash in the S&P, a 92% crash in the NASDAQ, 96% for crypto, and significant deflation on housing prices.
But Jesus said, “Take heed and beware of covetousness, for one’s life does not consist in the abundance of the things he possesses.” (Luke 12:15) Our Savior also said, “Lay up for yourselves treasures in Heaven, where neither moth nor rust destroys and where thieves do not break in and steal. For where your treasure is, there your heart will be also.” (Matthew 6:19-21)"
Look at this legal definition of gambling: "Gambling is when a person bets or risks something of value (like money) based on a chance outcome that is OUT OF THEIR CONTROL OR INFLUENCE with the understanding that they will either gain increased value or lose their original value determined by the specific outcome."
Examples of this is are the stock market and a government lottery, advertising "get rich quick" opportunities. This is also called a tax on the stupid.
Kalshi and other betting platforms offer predictions on likely political, geopolitical, cultural and economic events in the real world.
Perceptive cultural analysts look beyond fake media narratives to discern outcomes which become obvious to them for clear evidentiary reasons.
While individual payouts aren't always publicly detailed due to privacy, aggregated reports and interviews highlight several notable six- and seven-figure earnings:
- A professional trader accumulated nearly $1 million in total profits across ...
So why did the aristocratic authors of the US Constitution leave it out?
“For power is a very intoxicating thing, and has made many a man do unwarrantable actions, which before he was invested with it, he had no thoughts of doing.”
-- Amicus, Antifederalist No. 53
