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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)"
This week, the US President gave an apparently delusional update of the Iran conflict. Iran's military is decimated, and it's President is asking for a cease fire, he reported.
Iran's Foreign Ministry spokesman immediately rejected that. State broadcaster IRIB quoted Esmail Baghaei as saying Trump's statements were false and unfounded.
Trump attributed the request for a ceasefire to Iran's "New Regime President."
On the same day, Iranian President Masoud Pezeshkian criticized the US war against his country in an open letter to the people of the United States on Wednesday, calling it an absurd operation that is costly for their nation.
Within hours of Mr. Trump's analysis of a destroyed Iranian military, Iran fired more missiles at Israel and Gulf Arab states, demonstrating Tehran’s continued ability to attack even as US President Donald Trump claimed the threat from the country was nearly eliminated and predicted the war would end soon.
In Mr. Trump's speech to the nation, Paul...
Today's assymetrical warfare: Iran's cheap munitions are taking out American's most expensive aircraft.
One internet observer:
"Iran, still using their pawns, while Israel and the US out there, with only their King n Queen left. Who will fall first?
"5 pawns and a king versus a king and queen in a chess end game, the side with the 8 pawns always wins. 5 pawns is enough. That’s standard.
"In a way, you could call it asymmetrical warfare."
Well, it's not "A quart of wheat for a denarius, and three quarts of barley for a denarius."
It's $400,000 Bentley automobiles. A lot of them. Of all the dealerships in Europe, the one in Kiev is in third place for sheer volume.
Take note of this tragic truth:
"Foreign aid is a mechanism by which poor people in rich countries are taxed to support the lifestyles of rich people in poor countries. The aid primarily serves three Ms—: munitions, monuments, and Mercedes for leaders and cronies."
--- Peter Thomas Bauer, a Hungarian-born British development economist:
