Stocks sank, while the euro touched a ten-year low versus the yen and a six-month low against the dollar, as concern grew aboutGreece’s debt crisis. European bank and sovereign credit risk reached all-time highs as 10-year Treasury yields slid to a record. Oil fell 2 percent.
The MSCI All-Country World Index retreated 2.9 percent and the Standard & Poor’s 500 Index slipped 2.7 percent to 1,154.23 at the 4 p.m. close in New York, wiping out a weekly gain. The euro sank as much as 2.1 percent to 105.3 yen and fell 1.8 percent to $1.3627 before trimming losses. Ten-year Treasury yields slid as low as 1.89 percent. Credit-default swaps signaled a more than 90 percent probability Greece will default.
Stocks extended losses as three German officials said Chancellor Angela Merkel’s government is preparing plans to shore up banks in the event that Greece defaults. The European Central Bank saidJuergen Stark resigned from the executive board, suggesting policy makers are divided over how to fight the debt crisis. U.S. President Barack Obama called on Congress last night to pass a $447 billion plan to boost employment after jobs growth stalled last month.
“There’s that nagging thought that we can continue to have a downward spiral in Europe,” James Dunigan, chief investment officer in Philadelphia for PNC Wealth Management, said in a telephone interview. The firm oversees $109 billion. “There’s concern of a default, of risk in banks, of a liquidity crisis. In the U.S., even as President Obama made an effort to put that plan together, there’s not a whole lot of confidence that Congress will pass.” – Bloomburg
The Garden of Eden. It represented something good that was to be expanded into a worldwide thriving community of people . Likewise, Satan’s aspiration to be like our Mother Yahweh encompassed Satan’s try at duplication the Sacred Garden in the form of the United States. It represented what he believed would turn out good for the entire world if overtaken by it in an expansive effort.
Satan’s desire for liberty and free will is what he envisioned for his own children. After many failures throughout mankind’s history, Satan inspired the United States and broke it away from the royalty of a nation (England) that was ruled with more stringent rules. This reflected his own break from the Royal Kingdom of Yahweh. Yet, Satan believes in Liberty and Justice for all, and inspired the words “In God We Trust” The god he was speaking of was not Yahweh, but himself, because he is the god of this system of things in this age he inspired by his fall from Yahweh’s Crown of Authority. Now Satan knows he stands to lose his prized child and the WAY of life he envisioned for this old world. Like the Garden of Eden that was lost in ancient times, Yahweh will not let Satan’s vision to make the world like the USA become a reality. Satan passed his power to his child so that they would be the strongest super power on earth and unbeatable. But Yahweh is slowly stripping his child of its wealth and its resources. Like the ancient Garden of Eden beneath the Atlantic ocean, the USA will itself sink – not into water, but into oblivion.
Do you want the USA to survive? If you do, you stand with Satan and his angels and converts that are fighting to keep it in existence. Will it become a hollow shell of what it once was, or will it regain its posture? Yahweh has declared that it will fall to its knees. Satan has countered that it will be at a cost to Yahweh that She has never conceived if his child should fall.