| Time | Text |
|---|---|
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Stock Market Crashes of 2008
00:05:34
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| Do you believe that we're entering the greatest financial crisis in history? | |
| I heard you say something like this. | |
| Yes. | |
| I do. | |
| Make that clear. | |
| We're not just headed for a financial crisis. | |
| I believe we're headed for the greatest financial crisis that America has ever seen, the world has ever seen. | |
| It's not just going to be the United States. | |
| It's going to be global. | |
| And it's going to lead to not only an economic crisis, not only a recession, we're headed for the greatest depression that we've ever seen, I believe. | |
| America is going to be shaken to the core. | |
| And I'm in total agreement with Rick Joyner. | |
| We're going to look back and we're going to be absolutely amazed at how long God gave us mercy, how long he held things together by his grace, because by all reckoning, by all human reasoning, things should have already collapsed by now. | |
| So he's given us time to repent. | |
| He's given us mercy. | |
| But now I believe that time is running out. | |
| Can you compare? | |
| Seven years ago, 2008 was the worst one-day crash in history. | |
| And so we're seven years from there. | |
| Is this compare at all with back eight, you know, seven years ago in 2008? | |
| Yeah, well, it's starting. | |
| And so many of the same patterns leading up to it have been playing out. | |
| For example, just before the crisis of 2008, we saw the price of oil go from way over $100 to below $50 a barrel. | |
| That's only happened one other time in history, just in the lead up to where we are today. | |
| We also saw the prices of commodities crash. | |
| We saw copper, aluminum, tin, iron oil all crash before the 2008 crisis. | |
| That's happening again. | |
| Another thing that happened back in 2008, the Chinese stock market crashed before the U.S. stock market did. | |
| It's happening again. | |
| Another thing that happened back in 2008, the U.S. dollar, most people, when they think of economic crash, all of that, they think of the U.S. dollar going away and falling, and that's going to happen later. | |
| But in 2008, we saw the U.S. dollar surge against other global currencies, and we're seeing that again. | |
| And that's putting a tremendous amount of stress on all these other emerging markets around the world for a variety of reasons. | |
| So all of these exact same patterns, margin debt, we've seen three great peaks in margin debt throughout history, and margin debt is people borrowing lots and lots of money to buy stocks. | |
| We saw a huge peak in margin debt just prior to the crash of the dot-com bubble in 2000 and 2001, and then it crashed. | |
| And then we saw another huge peak in margin debt in 2007, 2008. | |
| People borrowed lots and lots of money to buy stocks, and then the stock market dramatically crashed. | |
| And if you look at the chart, now margin debt has peaked again to the highest level ever just here recently where people have borrowed all this money to buy stocks. | |
| See, I'd not heard of margin debt before. | |
| Yeah, I don't know. | |
| It can be complicated, but on a very simple level, it's people borrowing money to buy stocks. | |
| They want to get in the stock market. | |
| That's what happened in 29. | |
| The 29 crash? | |
| It helped that bubble crash. | |
| Yeah, the margin bar. | |
| Excuse me. | |
| No, no, no. | |
| No, we just have a free fraud. | |
| That's an important factor. | |
| It is. | |
| So all of these things happen. | |
| China is in a mess. | |
| But China is trying to get out, and they all move up and down. | |
| But China has forced their corporations in their country to buy their stock. | |
| And so they're buying up their own stock. | |
| They're making the companies do it. | |
| And so they're trying to build it up. | |
| And so they say, well, everything's okay and trying to get a feel-good feeling so everybody will start buying stock again. | |
| Well, if you're telling me this happened in 2008, then a lot of people really lost a lot of money. | |
| I mean, serious money, when you borrow and you lose borrowed money, that's like gambling. | |
| You know, you're in trouble. | |
| Is that right? | |
| Yeah. | |
| What's going to happen this year, do you think? | |
| Do you think anything will happen this year? | |
| Yes, I do. | |
| And I started the economic collapse blog back in 2009, and ever since then, I've never put any type of alert or pointed to any specific point of time that I thought that something was about to happen. | |
| But back in June, at the end of June, the Lord led me to issue a red alert for the second half of 2015 because I felt based on all of the intel and the natural that I'd received and what all the prophetic voices, such as, you know, we've got Rick Joyner here today, all from the prophetic world, because I'm very plugged into that. | |
| Everything was just screaming at me that a major financial crisis was imminent. | |
| And I believe we've already seen the start of it. | |
| We've already seen in the last 30 days the most dramatic stock market decline since the last time around. | |
| The market in the last few days, few weeks, has gone down. | |
| It lost 2,200 points, and nobody seemed to be affected by that. | |
| Yeah, nobody seems too alarmed yet, which amazes me because within the last 30 days, we've already seen the eighth largest single-day stock market crash in all of U.S. history and the 10th largest single-day stock market crash in U.S. history. | |
| And so we're starting to see things accelerate, things fall apart, things we haven't seen in seven years since the end of the last Shemita cycle. | |
| And I believe that this is just the beginning. | |
| I believe there's much more ahead of us as the coming months play out. | |
| It's going to get much, much worse, | |