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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)"
Mr. Trump loves the "high ratings" of a celebrity and election victories for his legacy. A clean and magnanimous victory over Iran might have provided that. But a two-year quagmire will destroy his legacy, his party, our military and much of the younger generation. And Valerie Jarret will be making policy in 2028.
If the President wanted good "optics" in this imprudent and dangerous war, he would have declared an epic victory immediately after the death of the Ayatollah, pulled American assets home, and arranged the equivalent of a ticker-tape parade for them.
But it has been two full days since the decapitation, and young American bodies are being placed in coffins.
"U.S. missile and air-defense interceptor inventories have been severely drawn down by the relentless pace of recent [Iran] operations, revealing that between defending Israel, Ukraine, and itself, the American military is spread too thin. Replenishing these high-end systems can take over a year, analysts say, because production lines are optimized for peacetime and cannot be surged overnight.
"We know for sure that China is thrilled to see America weakened. They will view Iran as Joe Biden viewed Ukraine: as an opportunity to cripple a global rival (the Russian Federation.) Keep an eye out for headlines about Chinese efforts to prolong this conflict."
-- Tucker Carlson
Maybe, at most, a week long. He expected an immediate regime change and then surrender.
Remember the Sand People? Those primitive Houthis? The US spent $7 billion bombing the Houthis over about 6-7 weeks and failed to degrade the Houthis’ ability to attack with missiles.
The problem with Iran is much worse. This week, the US and Israel may burn through the last offensive and defensive munitions, including interceptors. Will Iran surrender at that point, or escalate with their larger arsenal of missiles?
If you are not praying for Pete Hegseth, you should be.
