Pat Robertson has claimed that Monday's economic downturn is due to the nation’s failure to defund Planned Parenthood.
Moments after trading opened on Monday morning, the Dow Jones Industrial Average plunged 1,000 points. The hashtag #BlackMonday quickly began appearing on social media.
However, the day ended on a less sober note, with Forbes’ Maggie McGrath noting that the Dow rebounded to only a 195 point drop--a remarkable comeback after such a plunge. McGrath also reminds readers that what is most important with the stock market is long term trends, which McGrath proves have actually been on the rise since 2010.
However, a brighter trading day Tuesday did not stop many public figures from predicting the worst.
Robertson attributes the stock market panic of Monday to impending financial crisis, prophesied by the Messianic Rabbi Jonathan Cahn.
Robertson cited Cahn’s prophesy that an economic crisis will come upon America.
“Whether it comes in this time parameter of the Shemitah or the year following or not, I believe a great shaking is going to come to this land and to the world that will involve the collapsing of the American economy ... and the removal of its blessings and prosperity,” Cahn stated, according to Charisma News.
Other prominent figures, 2016 Republican presidential candidates Donald Trump and Scott Walker, blamed the Obama Administration for allowing China to have too much control of the markets.
Politicususa.com notes that perhaps Robertson made a connection between China’s part in the economic downturn and the country’s one-child policy which often results in abortion of baby girls--which brings the discussion back to Planned Parenthood and Robertson’s condemnation of the U.S.’s failure to defund the abortion clinic.
Although the market did rebound Tuesday, Mike Antonelli, equity sales trader at R.W Baird & Co., thinks Monday’s sell-out is not without consequence.
“[T]here are serious global growth issues that are not going to be resolved any time soon. We expect the correction to last longer,” Antonelli said.
Photo courtesy: pixabay.com
Publication date: August 25, 2015