A rough September: Shemitah, blood moons and the U.S. economy
Special from WorldTribune.com
The world goes on after Shemitah 2015 and a rare four blood moons. But global warnings of economic stress intensified in September.
“I believe a great shaking is coming to America and the world. I believe a shaking is coming that strikes the financial realm, economic realm and may even be a shaking that’s greater than that,” predicted Jonathan Cahn, author of “The Mystery of Shemitah”.
In the concluding month of Shemitah (the seventh or sabbath year in Hebrew) and the blood moons, U.S. employers cut back sharply on hiring, a bad omen after experts had held out hope since the labor market had been steadily improving.
The unemployment rate remained at 5.1 percent but only because a large number of Americans stopped looking for work and are no longer counted as unemployed.
Economists say the proportion of adults either with a job or looking for one is at a 38-year low.
“[In] 1980 you have recession and then the stock market collapses; you have ’87 stock market collapses and the Shemitah of that, and you have ‘Black Monday’ the worst point percentage crash in history,” Cahn pointed out. “Shemitah of 1994, the bond market collapses, called the bond market massacre — greatest in history; 2001 you have the stock market collapsing, recession. You have the greatest point crash in world history and you have 9/11, which is the shaking. Shemitah also means shaking.”
There is plenty of shaking going on in the global economy with China slowing, Europe floundering and emerging economies such as Brazil and Turkey struggling to grow.
“The weakness in the global economy is washing onto American shores,” said James Marple, a senior economist at TD Bank.
The economic news also shook the stock market, which tumbled about 200 points after having been up before the news.
“Every aspect of the September jobs report was disappointing,” said Michelle Girard, an economist at RBS Securities. It “strengthens the case that the Fed will be forced to stay on hold over the remainder of the year.”