Stock Market Crash 2008 was on September 29, 2008 which was Yom Teruah (Rosh Hashanah) on the Rabinic calendar.I find this fascinating. Is the number 7 significant to anyone?
On the morning of September 12, 2001…one day after 911, Senate Majority Leader Tom Daschle stood before Congress and quoted from Isaiah 9:8. He said, “I think it speaks to all of us at times like this."
Isa 9:8 יהוה sent a word against Ya’aqoḇ, and it has fallen on Yisra’ĕl.
Isa 9:9 And the people shall know, all of them, Ephrayim and the inhabitant of Shomeron, who say in pride and greatness of heart:
Isa 9:10 “The bricks have fallen down, but we rebuild with hewn stones; the sycamores are cut down, but we replace them with cedars.”
However, little did he know, God gave these words to Israel…as the sign of a nation at the door of judgment. Isaiah 9: 8 – 10
"The Lord sends a message against Jacob. It falls upon Israel. And all the people know it. Who say in the pride and arrogance of heart: the bricks are fallen down, but we will rebuild with cut stone.
Fallen bricks. (bricks from towers at ground zero)
We will rebuild w/quarried stone (vow to rebuild… from Daschle’s speech…freedom tower…Donald Trump). Over Ground Zero an object was lowered from the sky…a giant quarried stone…called it the Freedom Stone at a commemoration service…"with this stone we're going to rebuild stronger.")
Instead of being humbled, pride and arrogance of heart…"we are the heirs of this spirit of defiance."
The sycamores have been cut down,
Sycamore doesn't grow in NYC…but freak incident…steel beam went through the air and struck down an object. Turned out to be a sycamore tree. A big deal was made of it….called the Tree of Ground Zero.
but we will replace them with cedars."
Two years after 911…an object is being lowered from sky and lowered into hole where sycamore tree was. What kind of tree? Replaced with a cedar or eres tree…with a big ceremony.
President George Washington at his inauguration gave a call to dedicate America and a call to prayer. Gave warning…no nation can expect the favor of God if it turns away from God's ways. At his inauguration, took all the leaders (senate, house of representatives) to a small chapel where they spent 2 hours dedicating America to God, consecrating America to God. This happened not in Washington but in New York City. Washington took his oath in NYC…was the capitol then. America was dedicated to God at a little chapel in NYC called St. Paul's…still standing today. .America was dedicated to God at the corner of Ground Zero. The church yard touches Ground Zero. The warning of Washington was fulfilled. When judgment comes, it touches the place where the nation had been dedicated (or covenanted) to God. In Israel, the temple…in America, at this chapel. Ultimate sign of judgment...when temple is destroyed. All around Ground Zero…every bldg was damaged…only one was not damaged…this chapel. In the cemetery in back of the chapel…is where that beam brought down a sycamore tree…which was replaced by a cedar tree. 911 was a shadow of judgment on a limited scale. Judgment or revival…judgment producing revival.
Here are two articles about the Trinity Root sculpture.
New York Times: "Uprooted in the Attacks, Now Planted in Bronze"NYC - Trinity Church - Trinity Root
Steve Tobin's three-ton bronze sculpture, known as Trinity Root, was dedicated in the courtyard of Trinity Church on September 11, 2005. Soaring 18 feet in the air and spreading more than 25 feet across the couryard, visitors are able to walk through the undulating root branches.
The cast was inspired by the 70-year old sycamore tree that shielded St. Paul's Chapel , operated by Trinity Church, against falling debris during the collapse of the Twin Towers during the attacks of September 11 The tree became a potent symbol of sacrifice in the aftermath.
Tobin first approached Trinity Church officials with the idea shortly after 9-11, but the church was parish was too overwhelmed with rescue efforts. In the spring of 2004, new rector Reverend James H. Cooper reconsidered the idea and allowed Tobin to truck the 600-plus pound stump and its remaining roots bck to his Bucks County studio to begin casting. Afterwards he treated the stump for preservation and returned it to the churchyard at St. Paul's.
Tobin, who self-financed the piece, is best known for his root sculptures--normally cast in bronze and given a woodlike patina.
A Tree Grows on Wall StreetPublished: July 6, 2005
NEW YORK— On September 11, 2005, four years after downtown New York City was victimized by terror, a symbol of hope will be planted, in bronze.
"The first substantial permanent memorial in the area," as Randy Kennedy notes in the New York Times, the new sculpture will be an "eerily lifelike re-creation of the stump and roots of a sycamore tree that grew for more than 70 years in the churchyard of St. Paul's Chapel."
When the towers fell, the sycamore was hit with debris, and the branches acted as a shield, protecting the church. Artist Steve Tobin came up with the idea in the weeks following 9/11, when read about the sycamore. But it took years for Trinity Church, the Episcopal parish that runs St. Paul's, to agree.
"At one point they actually said, 'Don't ever call here again,' " said Kathleen Rogers, Tobin's partner and promoter. "And I'm a very polite person."
Then the church got a new rector, and Rev. Dr. James H. Cooper embraced the concept for the sculpture.
"There was a universal appeal to us in the nature of the work," said the Reverend, who allowed Tobin to bring the 600 pound stump to his workshop in New Jersey so that he could cast it.
The bronze tree will "soar 18 feet into the air and spread more than 25 feet across the courtyard," according to the Times. Tobin is footing the bill himself: more than $300,000 dollars and 20,000 hours of labor.
"This sculpture is not intended as a memorial, just as an artwork," said Tobin. "But I think this work is going to embody 9/11 for a lot of people."
Keep in mind that bronze is the metal of judgment. The bronze sculpture of the Trinity Root was placed across from Wall Street.
Yom Teruah 2001 was September 17, 2001
September 11, 2001 to Yom Teruah (Rosh Hashanah) 2008 = 7 years.
7 is a number of completion.
The DJIA dropped 777.7 points (biggest single day drop ever) on Yom Teruah (Rosh Hashanah) 2008 which was Sept. 29, 2008 at Sundown. Here are three articles related to the Stock Market Crash of September 29, 2008.
AP
Dow plummets record 777 as financial rescue failsMonday September 29, 11:16 pm ET
By Tim Paradis, AP Business Writer
Dow dives
777 points, biggest single day fall ever, as House rejects financial bailout package
NEW YORK (AP) -- The failure of the bailout package in Congress literally dropped jaws on Wall Street and triggered a historic selloff -- including a terrifying decline of nearly 500 points in mere minutes as the vote took place, the closest thing to panic the stock market has seen in years.
The Dow Jones industrial average lost
777 points Monday, its biggest single-day fall ever, easily beating the 684 points it lost on the first day of trading after the Sept. 11, 2001, terrorist attacks.
As uncertainty gripped investors, the credit markets, which provide the day-to-day lending that powers business in the United States, froze up even further.
At the New York Stock Exchange, traders watched with faces tense and mouths agape as TV screens showed the House vote rejecting the Bush administration's $700 billion plan to buy up bad debt and shore up the financial industry.
Activity on the trading floor became frenetic as the "sell" orders blew in. The selling was so intense that just 162 stocks on the Big Board rose, while 3,073 dropped.
The Dow Jones Wilshire 5000 Composite Index recorded a paper loss of $1 trillion across the market for the day, a first.
The Dow industrials, which were down 210 points at 1:30 p.m. EDT, nose-dived as traders on Wall Street and investors across the country saw "no" votes piling up on live TV feeds of the House vote.
By 1:42 p.m., the decline was 292 points. Then the bottom fell out. Within five minutes, the index was down about 700 points as it became clear the bill was doomed.
"How could this have happened? Is there such a disconnect on Capitol Hill? This becomes a problem because Wall Street is very uncomfortable with uncertainty," said Gordon Charlop, managing director with Rosenblatt Securities.
"The bailout not going through sends a signal that Congress isn't willing to do their part," he added.
While investors didn't believe that the plan was a cure-all and it could take months for its effects to be felt, most market watchers believed it was at least a start toward setting the economy right and unlocking credit.
"Clearly something needs to be done, and the market dropping 400 points in 10 minutes is telling you that," said Chris Johnson, president of Johnson Research Group. "This isn't a market for the timid."
Before trading even began came word that Wachovia Corp., one of the biggest banks to struggle from rising mortgage losses, was being rescued in a buyout by Citigroup Inc.
That followed the recent forced sale of Merrill Lynch & Co. and the failure of three other huge banking companies -- Bear Stearns Cos., Washington Mutual Inc. and Lehman Brothers Holdings Inc., all of them felled by bad mortgage investments.
And it raised the question: Which banks are next, and how many? The Federal Deposit Insurance Corp. lists more than 110 banks in trouble in the second quarter, and the number has probably grown since.
Wall Street is contending with all of it against the backdrop of a credit market -- where bonds and loans are bought and sold -- that is barely functioning because of fears that anyone lending money will never be paid back.
More evidence could be found Monday in the Treasury's three-month bill, where investors were stashing money, willing to accept the tiniest of returns simply to be sure that their principal would survive. The yield on the three-month bill was 0.15 percent, down from 0.87 percent and approaching zero, a level reached last week when fear was also running high.
Analysts said the government needs to find a way to help restore confidence in the markets.
"It's probably fair to say that we are not going to see any significant stability in the credit markets or the stock market until we see some sort of rescue package passed," said Fred Dickson, director of retail research for D.A. Davidson & Co.
The bailout bill failed 228-205 in the House, and Democratic leaders said the House would reconvene Thursday in hopes of a quick vote on a revised bill.
"We need to put something back together that works," Treasury Secretary Henry Paulson said. "We need it as soon as possible."
The Dow fell
777.68 points, just shy of 7 percent, to 10,365.45, its lowest close in nearly three years. The decline also surpasses the record for the biggest decline during a trading day -- 721.56 at one point on Sept. 17, 2001, when the market reopened after 9/11.
In percentage terms, it was only the 17th-biggest decline for the Dow, far less severe than the 20-plus-percent drops seen on Black Monday in 1987 and before the Great Depression.
Broader stock indicators also plummeted. The Standard & Poor's 500 index declined 106.62, or nearly 9 percent, to 1,106.39. It was the S&P's largest-ever point drop and its biggest percentage loss since the week after the October 1987 crash.
The Nasdaq composite index fell 199.61, more than 9 percent, to 1,983.73, its third-worst percentage decline. The Russell 2000 index of smaller companies fell 47.07, or 6.7 percent, to 657.72.
A huge drop in oil prices was another sign of the economic chaos that investors fear. Light, sweet crude fell $10.52 to settle at $96.36 on the New York Mercantile Exchange as investors feared energy demand would continue to slide amid further economic weakness. And gold, where investors flock when they need a relatively secure investment, rose $23.20 to $911.70 on the Nymex.
Marc Pado, U.S. market strategist at Cantor Fitzgerald, said investors are worried about the spread of troubles beyond banks in the U.S. to Europe and other markets.
"Things are dying and breaking apart," he said.
The federal Office of Thrift Supervision, one of the government's banking regulators, indicated that the market was overreacting to the House vote and that its fears about the financial system are misplaced.
"There is an irrational financial panic taking place today, and we support and applaud the continuing efforts of Secretary Paulson and congressional leadership to restore liquidity and public confidence," John Reich, Director of the federal Office of Thrift Supervision, said in a statement.
The plan would have placed caps on pay packages of top executives that accepted help from the government, and included assurances the government would ultimately be reimbursed by the companies for any losses.
The Treasury would have been permitted to spend $250 billion to buy banks' risky assets, giving them a much-needed cash infusion. There also would be another $100 billion for use at the president's discretion and a final $350 billion if Congress signs off.
But Wall Street found further reason for worry overseas. Three European governments agreed to a $16.4 billion bailout for Fortis NV, Belgium's largest retail bank, and the British government said it was nationalizing mortgage lender Bradford & Bingley, which has a $91 billion mortgage and loan portfolio. It was the latest sign that the credit crisis has spread beyond the U.S.
Business Writers Joe Bel Bruno in New York and Christopher S. Rugaber in Washington contributed to this report.
New York Stock Exchange:
http://www.nyse.com Dow Jones Stock Market 777 Point 7% Crash Stock-Markets / Financial Crash Sep 29, 2008 - 03:28 PM
By: Nadeem_Walayat
In a classic example of the market knows best, stocks opened sharply lower by some 350 points in the first hour ahead of the Congress Bailout vote some hours later in the day which left many mainstream commentators confused as the over-riding expectations were that stock markets 'would' rally ahead of and in anticipation of the YES vote on Bush, Paulson and Bernanke's proposed $700 billion bailout down payment on the buy up of the financial sectors holdings of toxic mortgage backed securities.
The House of Representatives rejected the governments $700 billion bailout plan that the Bush administration had renamed as the $700 billion rescue plan in an attempt to garner more votes. The actual vote of 228 NO against 205 YES shocked the proponents of the bill and sent the Stock markets into a FREE FALL which saw a 500 point drop within less than 20 minutes, a plunge from 10,950 to 10,450, volatility gripped the markets during the rest of the session with the expectations of a sell off into the close of 10,365 at the days low which sent the Dow Jones Industrial Averages into its WORST DAILY POINTS DECLINE of
777 points or
7%, beating the 721 point plunge on Sept 12th following the Sept 11th terrorist attack. However the percentage drop is still a far cry from the 22% Crash of October 19th 1987.
Dow Jones Average Plunges 777 Points, Biggest Single-Day Drop in HistoryAtlanta, GA 9/29/2008 10:53 PM GMT (TransWorldNews)
The Dow Jones Industrial Average fell
777 points on Monday, giving it the largest single-day point loss in history.
The Dow Jones began to fall fast around 1pm EST, the time the U.S. House of Representatives was set to vote on $700 billion bailout crisis bill. The Dow then continued to plummet after the House voted to reject the bill, which lost due to a 228-205 vote.
The Dow Jones Industrial Average, already down about 300 points on the day, dropped an additional 200 points when the bill was rejected. The DJIA closed down 777.68, the largest point loss on record, or off 6.98%.
The Nasdaq and S&P 500 fared worse, falling 9.14% and 8.77%, respectively. The S&P's loss was the largest single-day point loss in its history.
The Dow Jones drop on Monday has been compared to the 1929 stock market crash and "Black Monday" of 1987, when the S&P 500 fell 20.5% in a single day.
Conclusion: 9-11-2001 was a judgment on America. Collectively as a people, Americans failed to repent. Our leaders, some quoting Scripture, said that we would build it bigger and better than it was. That was the wrong attitude, instead of being arrogant and prideful we should have repented, wearing sack-cloth and ashes. After seven years of national non-repentance, on the day before the Feast of Trumpets, across from the bronze sculpture of the Sycamore that was replaced by a Cedar, Wall Street crashed and the Dow dropped 777.7 points in one day.
So is all this just a coincidence like my blind agnostic friends believe? Or is it a judgment and warning from Yahweh? A wake up call so to speak?
Shalom,
Mike