BREXIT, The Times of Israel: “Britain’s shock vote to pull out of the European Union wiped $2.1 trillion from global equity markets Friday as traders panicked in the face of a new threat to the global economy.
Investors fled to the safety of gold, the yen and blue-chip bonds as the seismic shift in the structure of Europe left many huge questions hanging, including who will lead Britain following the resignation of Prime Minister David Cameron.
The Brexit vote sparked eight percent losses in the Tokyo and Paris bourses, nearly seven percent in Frankfurt and more than three percent in London and New York.”
Opinion: The financial markets have been supported by central banks since the first quantitative easing program began in Japan in 2001.
The Federal Reserve joined in the money printing party in 2008-9 in an effort to hold down interest rates and inject inflation to a dead economy.
QE1 led to QE2, and QE3 followed, leading to 4 trillion in debt and a still lifeless economy.
By 2014, all that fresh new money that was supposed to lead to 2% inflation only managed to get to 0.o4%. In the meantime Obamacare and tens of thousands of onerous new business regulations created the 30 hour work week complete with part-time jobs with no benefits.
As of now 94 million Americans have left the work force while unemployment reports paint a false picture of 4.7% employment. The Bureau of Labor Statistics does not count those who stopped looking for work when calculating the unemployment numbers.
Wages have not grown in the US in 40 years.
It is very early to rank BREXIT with the failure of Lehman in 2008. Central banks still have a few tricks up their sleeve and it could well be that QE4 is just around the corner.
At the end of the day, it is becoming clear that a massive global economic collapse is coming on the order of the Black Horse rider of Rev 5:5-6.
But before that happens the Church is taken up to meet Christ in the air (1 Thess 4:16-18) and the White Horse rider(Antichrist) of Rev 6:1-2 will step on to the world stage.
As Paul said, comfort one another with those words.