JEWISH KING JESUS IS COMING AT THE RAPTURE FOR US IN THE CLOUDS-DON'T MISS IT FOR THE WORLD.THE BIBLE TAKEN LITERALLY- WHEN THE PLAIN SENSE MAKES GOOD SENSE-SEEK NO OTHER SENSE-LEST YOU END UP IN NONSENSE.GET SAVED NOW- CALL ON JESUS TODAY.THE ONLY SAVIOR OF THE WHOLE EARTH - NO OTHER. 1 COR 15:23-JESUS THE FIRST FRUITS-CHRISTIANS RAPTURED TO JESUS-FIRST FRUITS OF THE SPIRIT-23 But every man in his own order: Christ the firstfruits; afterward they that are Christ’s at his coming.ROMANS 8:23 And not only they, but ourselves also, which have the firstfruits of the Spirit, even we ourselves groan within ourselves, waiting for the adoption, to wit, the redemption of our body.(THE PRE-TRIB RAPTURE)
HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
REVELATION 6:5-6
5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.(A DAYS WAGES FOR A LOAF OF BREAD)
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
The Shemitah is coming true.Do people not get it? There is a economic crash every 7 years.
1980: Recession
1987: Stock market crash
1994: Bond market crash
2001: 9/11, dot com, recession
2008: Housing crash
2015: See if something will happen-The central banks will be the death of us. Get ready and embrace yourself for the economic collapse.
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UPDATE-SEPTEMBER 24,2015-12:00AM
DOW MARKET THURSDAY-SEPT 24,2015
09:30AM-
10:00AM-
10:30AM-
11:00AM-
11:30AM-
12:00PM-
12:30PM-
01:00PM-
01:30PM-
02:00PM-
02:30PM-
03:00PM-
03:30PM-
04:00PM-
HIGH LOW
Gross Tells Fed to `Get Off Zero Now!' as Economies Run on Empty-Mary Childs-Updated on September 23, 2015 — 2:06 PM EDT-bloomberg
Bill Gross said the Federal Reserve needs to raise interest rates as soon as possible, trading some near-term market losses for longer-term stability and a healthier financial system.If zero interest rates become the long-term norm, economic participants will soon run on empty because their investments aren’t producing the gains or cash flow needed to finance past promises in an aging society, he wrote in an investment outlook on Wednesday for Denver-based Janus Capital Group Inc. That’s already beginning to happen as Detroit, Puerto Rico, and, he predicts, soon Chicago, struggle to meet their liabilities.“My advice to them is this: get off zero and get off quick,” Gross urged the central bankers. He said it’s time for a “new thesis” that allows people in developed economies to save, enabling liability-based business models to survive and spurring more private investment, “which is the essence of a healthy economy. Near term pain? Yes. Long term gain? Almost certainly. Get off zero now!”The Fed last week decided to keep its benchmark rate near zero, showing reluctance to end an era of record monetary stimulus in a time of market turmoil, rising international risks and slow inflation at home. Futures traders are betting the Fed is unlikely to act in October, as they put 43 percent odds on an increase by December and 51 percent by January, according to data compiled by Bloomberg.‘Wreak Havoc’-Last week, Gross said the Fed was right to keep interest rates near zero at the September meeting, and that it may take years for the economy and rates to return to more normal levels. Monetary policy has exhausted its effectiveness, with asset prices distorted by years of near-zero rates, and fiscal policy will be needed to get the economy back on stronger footing, Gross said in a Sept. 18 interview with Tom Keene and Michael McKee on Bloomberg Radio.“They did the right thing,” he said in that interview, citing current financial conditions. “When they did the wrong thing, and this is way back in terms of past history, they went below 2 percent in terms of the short-term rate. They didn’t have to do that, they didn’t have to go to zero. So now getting back up there will wreak havoc on asset markets.”Gross, 71, joined Janus about a year ago after leaving Pacific Investment Management Co., where he once ran the world’s biggest mutual fund. He now oversees the $1.4 billion Janus Global Unconstrained Bond Fund. The fund lost 1.7 percent this year, putting it behind 76 percent of similar funds, according to data compiled by Bloomberg.-Revolving Spit’-Gross underscored that it’s not just insurance companies and giant pension funds that are suffering from low interest rates. Investors aren’t getting the 8 percent to 10 percent returns they counted on to pay for education, health care, retirement or vacation.“Mainstream America with their 401(k)s are in a similar pickle,” he wrote. “They are not so much in a pickle barrel as they are on a revolving spit, being slowly cooked alive while central bankers focus on their Taylor models and fight non-existent inflation,” Gross said, referring to a rule named for Stanford University economist John Taylor.Fellow famed bond manager Jeffrey Gundlach, co-founder of $80 billion DoubleLine Capital, sees a fifty-fifty chance the Fed will raise interest rates in December. Gundlach forecast “choppiness” in fixed-income markets, though he said yields won’t actually change much. Los Angeles-based Gundlach has been saying for months that the Fed may not be able to raise rates this year for reasons including a strong dollar.
Deutsche Bank Strategist: The Odds of the Federal Reserve Staying on Hold Until 2017 Are 'Up There'-The central bank won't hike until markets are "begging for it."-Luke Kawa-September 23, 2015 — 2:39 PM EDT-bloomberg
To some, the rally in equities since the Great Recession has been a symptom of central bank largesse, and financial markets have been in Federal Reserve-driven mode for an extended period of time.According to Dominic Konstam, global head of rates research at Deutsche Bank, the shoe is now on the other foot: We have a market-driven Fed.The strategist has written that liftoff, in terms of interest rates, will come only when the market is "begging for it." He appeared on BloombergTV to discuss exactly what that call entails.In the run-up to the September Fed meeting, a number of strategists cited the relatively low odds of an interest rate hike as a sign that the central bank would stay on hold for fear of roiling the markets with a move. Konstam echoed these sentiments. "At the end of the day, the market expectations will determine whether or not the Fed can actually do anything," he said. "And the Fed cannot fly in the face of the market if the market is saying, 'please don't raise rates,' without the risk that things are very very damaging in terms of the reaction." The probability of a hike implied by federal funds futures will have to be a lot higher before the central bank is able to act, Konstam believes. "I think you have to give the market a lot of credit, that it kind of understands things—perhaps a little bit better than, certainly, some of the members of the FOMC," he said.In the meantime, continued commentary on the issues the U.S. central bank needs to see resolved (a list that includes the status of China and other emerging markets, inflation, and wages) will help condition the markets for a hike as progress is made and recognized by monetary policy makers.The strategist opined that the probability of the Fed keeping rates on hold until 2017 is "up there."The central tenet underpinning the strategists' worldview is the extremely low level of core inflation once the rise in housing costs is removed from the mix:-He views housing inflation as indicative of structural issues, noting that it's been an extremely large contributor to core inflation 's annual rise of 1.8 percent.Core consumer price inflation, without counting housing, was running at 0.6 percent year-over-year, said Konstam, and this adjusted metric will probably continue to decelerate in 2016.The notion that the market is fed up with near-zero interest rates isn't a foregone conclusion, he argued.Some strategists have contended that abstaining from liftoff was the reason why equities moved a leg lower, reasoning that beginning the process of normalization would be indicative of a turn to, well, normality. By this view, a rate hike would be positive for risk assets.Konstam took umbrage with this reasoning, pointing out that there could well have been a massive decline in stock and bond prices in an alternate universe in which the Fed elected to hike rates last week.What played a role in the market's reaction, he believes, were the reasons monetary policymakers gave for keeping rates near zero. If the Fed decided to maintain the status quo because it wanted more of a good thing (higher nominal growth), the reaction may have been more constructive. But framing the non-hike as attributable to concerns about global growth was clearly not positive for risk appetite.
European Detroit' Fear Grips VW Company Town as Scandal Widens-Stefan Nicola-September 23, 2015 — 5:31 AM EDT-bloomberg
Nowhere is Volkswagen AG’s widening emissions scandal being felt more acutely than in Wolfsburg, the ultimate company town in Germany.Here, a hundred miles west of Berlin, VW funds the university, runs the biggest museum and owns the local soccer club, which is competing against some of the best teams in the world in the Champions League."If you’d visualize traffic in and out of the city, it would look like a pulse and the heart is the VW plant," cab driver Karsten Raabe says as he steers his Skoda by the sprawling complex, where hundreds of gleaming cars sit in parking lots and on the back of freight trains. “Without VW, this city and the entire region would die. We’d become a European Detroit,” which declared the biggest U.S. municipal bankruptcy in 2013.More than seven decades after the Nazis built Wolfsburg from scratch to make the original ‘people’s car,’ VW employs about 72,000 people in the city of 125,000. The company’s annual sales have quadrupled over the past two decades to 202 billion euros ($225 billion). The boom has helped drive unemployment down to 4.9 percent, well below the national average.Even the main tourist attraction is a tribute to VW: Autostadt, a 28-hectare theme park with road-safety tracks and vintage cars that was completed in 2000 for about 400 million euros. And then there are the 7.8 million VW-branded sausages that are made in Wolfsburg and sold nationwide each year.-‘Black Monday’-On Tuesday at Saloniki, a wood-paneled tavern near the central station, six men heatedly debated VW’s admission that it cheated on U.S. emissions tests, sparking an investigation that has wiped about 25 billion euros off the company’s market value.“Black Monday for VW” read the front-page headline of the local newspaper sprawled on the bar in front of them.The men discussed details such as how big the fines will be, how many jobs might be cut and what role was played by CEO Martin Winterkorn, who will get a chance to make his case before the executive committee of VW’s supervisory board on Wednesday.“Volkswagen’s development affects our city in a special way,” Mayor Klaus Mohr, whose office is on a street named after automobile icon Ferdinand Porsche, said in a statement. “In the interest of the city, I hope the necessary clearing up is done quickly and thoroughly.”Global Probe-Germany’s government plans to send an investigative team to Wolfsburg this week to speak with officials and examine documents. Regulators from France, South Korea and Italy have also vowed to scrutinize the company’s vehicles.Even in soccer, VW is stumbling. As key supervisory board members held an emergency meeting in a nearby community late Tuesday, its club, VfL Wolfsburg, was thrashed 5-1 by Bayern Munich. A substitute player scored all five goals in the space of nine minutes in the second half.The people on the street here appear to be holding their breath, hoping for the crisis to pass."Everyone knows someone who works at VW," Ivonne Schuckert-Thiele said from behind the counter of a Wolfsburger Nachrichten newsstand and ticket outlet.Those workers, for now, seem to be quietly rallying around their employer.Three men and two woman, when asked about the scandal in different parts of the city, all politely declined to comment, saying with a smile or a shrug: “I work at VW.”
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HOARDING OF GOLD AND SILVER
JAMES 5:1-3
1 Go to now, ye rich men, weep and howl for your miseries that shall come upon you.
2 Your riches are corrupted, and your garments are motheaten.
3 Your gold and silver is cankered; and the rust of them shall be a witness against you, and shall eat your flesh as it were fire. Ye have heaped treasure together for the last days.
REVELATION 18:10,17,19
10 Standing afar off for the fear of her torment, saying, Alas, alas that great city Babylon, that mighty city! for in one hour is thy judgment come.(IN 1 HR THE STOCK MARKETS WORLDWIDE WILL CRASH)
17 For in one hour so great riches is come to nought. And every shipmaster, and all the company in ships, and sailors, and as many as trade by sea, stood afar off,
19 And they cast dust on their heads, and cried, weeping and wailing, saying, Alas, alas that great city, wherein were made rich all that had ships in the sea by reason of her costliness! for in one hour is she made desolate.
EZEKIEL 7:19
19 They shall cast their silver in the streets, and their gold shall be removed:(CONFISCATED) their silver and their gold shall not be able to deliver them in the day of the wrath of the LORD: they shall not satisfy their souls, neither fill their bowels: because it is the stumblingblock of their iniquity.
LUKE 2:1-3
1 And it came to pass in those days, that there went out a decree from Caesar Augustus, that all the world should be taxed.
2 (And this taxing was first made when Cyrenius was governor of Syria.)
3 And all went to be taxed, every one into his own city.
REVELATION 13:16-18
16 And he(THE FALSE POPE WHO DEFECTED FROM THE CHRISTIAN FAITH) causeth all,(IN THE WORLD ) both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads:(MICROCHIP IMPLANT)
17 And that no man might buy or sell, save he that had the mark,(MICROCHIP IMPLANT) or the name of the beast,(WORLD DICTATORS NAME INGRAVED ON YOUR SKIN OR TATTOOED ON YOU OR IN THE MICROCHIP IMPLANT) or the number of his name.(THE NUMBERS OF HIS NAME INGRAVED IN THE MICROCHIP IMLPLANT)-(ALL THESE WILL TELL THE WORLD DICTATOR THAT YOUR WITH HIM AND AGAINST KING JESUS-GOD)
18 Here is wisdom. Let him that hath understanding count the number of the beast:(WORLD LEADER) for it is the number of a man; and his number is Six hundred threescore and six.(6-6-6) A NUMBER SYSTEM (6006006)OR(60020202006)(SOME KIND OF NUMBER IMPLANTED IN THE MICROCHIP THAT TELLS THE WORLD DICTATOR AND THE NEW WORLD ORDER THAT YOU GIVE YOUR TOTAL ALLIGIENCE TO HIM AND NOT JESUS)(ITS AN ETERNAL DECISION YOU MAKE)(YOU CHOOSE YOUR OWN DESTINY)(YOU TAKE THE DICTATORS NAME OR NUMBER UNDER YOUR SKIN,YOUR DOOMED TO THE LAKE OF FIRE AND TORMENTS FOREVER,NEVER ENDING MEANT ONLY FOR SATAN AND HIS ANGELS,NOT HUMAN BEINGS).OR YOU REFUSE THE MICROCHIP IMPLANT AND GO ON THE SIDE OF KING JESUS AND RULE FOREVER WITH HIM ON EARTH.YOU CHOOSE,ITS YOUR DECISION.
REVELATION 6:5-6
5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.
6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.(A DAYS WAGES FOR A LOAF OF BREAD)
DOCTOR DOCTORIAN FROM ANGEL OF GOD
then the angel said, Financial crisis will come to Asia. I will shake the world.
The Shemitah is coming true.Do people not get it? There is a economic crash every 7 years.
1980: Recession
1987: Stock market crash
1994: Bond market crash
2001: 9/11, dot com, recession
2008: Housing crash
2015: See if something will happen-The central banks will be the death of us. Get ready and embrace yourself for the economic collapse.
BANK RELATED INFORMATION
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CURRENCIES
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COMMODITIES
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UPDATE-SEPTEMBER 24,2015-12:00AM
DOW MARKET THURSDAY-SEPT 24,2015
09:30AM-
10:00AM-
10:30AM-
11:00AM-
11:30AM-
12:00PM-
12:30PM-
01:00PM-
01:30PM-
02:00PM-
02:30PM-
03:00PM-
03:30PM-
04:00PM-
HIGH LOW
Gross Tells Fed to `Get Off Zero Now!' as Economies Run on Empty-Mary Childs-Updated on September 23, 2015 — 2:06 PM EDT-bloomberg
Bill Gross said the Federal Reserve needs to raise interest rates as soon as possible, trading some near-term market losses for longer-term stability and a healthier financial system.If zero interest rates become the long-term norm, economic participants will soon run on empty because their investments aren’t producing the gains or cash flow needed to finance past promises in an aging society, he wrote in an investment outlook on Wednesday for Denver-based Janus Capital Group Inc. That’s already beginning to happen as Detroit, Puerto Rico, and, he predicts, soon Chicago, struggle to meet their liabilities.“My advice to them is this: get off zero and get off quick,” Gross urged the central bankers. He said it’s time for a “new thesis” that allows people in developed economies to save, enabling liability-based business models to survive and spurring more private investment, “which is the essence of a healthy economy. Near term pain? Yes. Long term gain? Almost certainly. Get off zero now!”The Fed last week decided to keep its benchmark rate near zero, showing reluctance to end an era of record monetary stimulus in a time of market turmoil, rising international risks and slow inflation at home. Futures traders are betting the Fed is unlikely to act in October, as they put 43 percent odds on an increase by December and 51 percent by January, according to data compiled by Bloomberg.‘Wreak Havoc’-Last week, Gross said the Fed was right to keep interest rates near zero at the September meeting, and that it may take years for the economy and rates to return to more normal levels. Monetary policy has exhausted its effectiveness, with asset prices distorted by years of near-zero rates, and fiscal policy will be needed to get the economy back on stronger footing, Gross said in a Sept. 18 interview with Tom Keene and Michael McKee on Bloomberg Radio.“They did the right thing,” he said in that interview, citing current financial conditions. “When they did the wrong thing, and this is way back in terms of past history, they went below 2 percent in terms of the short-term rate. They didn’t have to do that, they didn’t have to go to zero. So now getting back up there will wreak havoc on asset markets.”Gross, 71, joined Janus about a year ago after leaving Pacific Investment Management Co., where he once ran the world’s biggest mutual fund. He now oversees the $1.4 billion Janus Global Unconstrained Bond Fund. The fund lost 1.7 percent this year, putting it behind 76 percent of similar funds, according to data compiled by Bloomberg.-Revolving Spit’-Gross underscored that it’s not just insurance companies and giant pension funds that are suffering from low interest rates. Investors aren’t getting the 8 percent to 10 percent returns they counted on to pay for education, health care, retirement or vacation.“Mainstream America with their 401(k)s are in a similar pickle,” he wrote. “They are not so much in a pickle barrel as they are on a revolving spit, being slowly cooked alive while central bankers focus on their Taylor models and fight non-existent inflation,” Gross said, referring to a rule named for Stanford University economist John Taylor.Fellow famed bond manager Jeffrey Gundlach, co-founder of $80 billion DoubleLine Capital, sees a fifty-fifty chance the Fed will raise interest rates in December. Gundlach forecast “choppiness” in fixed-income markets, though he said yields won’t actually change much. Los Angeles-based Gundlach has been saying for months that the Fed may not be able to raise rates this year for reasons including a strong dollar.
Deutsche Bank Strategist: The Odds of the Federal Reserve Staying on Hold Until 2017 Are 'Up There'-The central bank won't hike until markets are "begging for it."-Luke Kawa-September 23, 2015 — 2:39 PM EDT-bloomberg
To some, the rally in equities since the Great Recession has been a symptom of central bank largesse, and financial markets have been in Federal Reserve-driven mode for an extended period of time.According to Dominic Konstam, global head of rates research at Deutsche Bank, the shoe is now on the other foot: We have a market-driven Fed.The strategist has written that liftoff, in terms of interest rates, will come only when the market is "begging for it." He appeared on BloombergTV to discuss exactly what that call entails.In the run-up to the September Fed meeting, a number of strategists cited the relatively low odds of an interest rate hike as a sign that the central bank would stay on hold for fear of roiling the markets with a move. Konstam echoed these sentiments. "At the end of the day, the market expectations will determine whether or not the Fed can actually do anything," he said. "And the Fed cannot fly in the face of the market if the market is saying, 'please don't raise rates,' without the risk that things are very very damaging in terms of the reaction." The probability of a hike implied by federal funds futures will have to be a lot higher before the central bank is able to act, Konstam believes. "I think you have to give the market a lot of credit, that it kind of understands things—perhaps a little bit better than, certainly, some of the members of the FOMC," he said.In the meantime, continued commentary on the issues the U.S. central bank needs to see resolved (a list that includes the status of China and other emerging markets, inflation, and wages) will help condition the markets for a hike as progress is made and recognized by monetary policy makers.The strategist opined that the probability of the Fed keeping rates on hold until 2017 is "up there."The central tenet underpinning the strategists' worldview is the extremely low level of core inflation once the rise in housing costs is removed from the mix:-He views housing inflation as indicative of structural issues, noting that it's been an extremely large contributor to core inflation 's annual rise of 1.8 percent.Core consumer price inflation, without counting housing, was running at 0.6 percent year-over-year, said Konstam, and this adjusted metric will probably continue to decelerate in 2016.The notion that the market is fed up with near-zero interest rates isn't a foregone conclusion, he argued.Some strategists have contended that abstaining from liftoff was the reason why equities moved a leg lower, reasoning that beginning the process of normalization would be indicative of a turn to, well, normality. By this view, a rate hike would be positive for risk assets.Konstam took umbrage with this reasoning, pointing out that there could well have been a massive decline in stock and bond prices in an alternate universe in which the Fed elected to hike rates last week.What played a role in the market's reaction, he believes, were the reasons monetary policymakers gave for keeping rates near zero. If the Fed decided to maintain the status quo because it wanted more of a good thing (higher nominal growth), the reaction may have been more constructive. But framing the non-hike as attributable to concerns about global growth was clearly not positive for risk appetite.
European Detroit' Fear Grips VW Company Town as Scandal Widens-Stefan Nicola-September 23, 2015 — 5:31 AM EDT-bloomberg
Nowhere is Volkswagen AG’s widening emissions scandal being felt more acutely than in Wolfsburg, the ultimate company town in Germany.Here, a hundred miles west of Berlin, VW funds the university, runs the biggest museum and owns the local soccer club, which is competing against some of the best teams in the world in the Champions League."If you’d visualize traffic in and out of the city, it would look like a pulse and the heart is the VW plant," cab driver Karsten Raabe says as he steers his Skoda by the sprawling complex, where hundreds of gleaming cars sit in parking lots and on the back of freight trains. “Without VW, this city and the entire region would die. We’d become a European Detroit,” which declared the biggest U.S. municipal bankruptcy in 2013.More than seven decades after the Nazis built Wolfsburg from scratch to make the original ‘people’s car,’ VW employs about 72,000 people in the city of 125,000. The company’s annual sales have quadrupled over the past two decades to 202 billion euros ($225 billion). The boom has helped drive unemployment down to 4.9 percent, well below the national average.Even the main tourist attraction is a tribute to VW: Autostadt, a 28-hectare theme park with road-safety tracks and vintage cars that was completed in 2000 for about 400 million euros. And then there are the 7.8 million VW-branded sausages that are made in Wolfsburg and sold nationwide each year.-‘Black Monday’-On Tuesday at Saloniki, a wood-paneled tavern near the central station, six men heatedly debated VW’s admission that it cheated on U.S. emissions tests, sparking an investigation that has wiped about 25 billion euros off the company’s market value.“Black Monday for VW” read the front-page headline of the local newspaper sprawled on the bar in front of them.The men discussed details such as how big the fines will be, how many jobs might be cut and what role was played by CEO Martin Winterkorn, who will get a chance to make his case before the executive committee of VW’s supervisory board on Wednesday.“Volkswagen’s development affects our city in a special way,” Mayor Klaus Mohr, whose office is on a street named after automobile icon Ferdinand Porsche, said in a statement. “In the interest of the city, I hope the necessary clearing up is done quickly and thoroughly.”Global Probe-Germany’s government plans to send an investigative team to Wolfsburg this week to speak with officials and examine documents. Regulators from France, South Korea and Italy have also vowed to scrutinize the company’s vehicles.Even in soccer, VW is stumbling. As key supervisory board members held an emergency meeting in a nearby community late Tuesday, its club, VfL Wolfsburg, was thrashed 5-1 by Bayern Munich. A substitute player scored all five goals in the space of nine minutes in the second half.The people on the street here appear to be holding their breath, hoping for the crisis to pass."Everyone knows someone who works at VW," Ivonne Schuckert-Thiele said from behind the counter of a Wolfsburger Nachrichten newsstand and ticket outlet.Those workers, for now, seem to be quietly rallying around their employer.Three men and two woman, when asked about the scandal in different parts of the city, all politely declined to comment, saying with a smile or a shrug: “I work at VW.”
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