Near-term economic predictions Jim Bramlett Jul 31, 2009 Dear friends: Yesterday I received a telephone call from a businessman in another state who told me that financial people managing the retirement funds and investments in that state have told his business partner that they expect a stock market crash to about the DJIA 2,000 level in approximately a month or so. He also said that he has heard that U.S. embassies around the world have been advised to have a year's supply of cash on hand, but not US or British currency. They are apparently expecting some kind of economic collapse. Normally I would not pay much attention to such information, except this time I was reminded of recent, similar information from Harry Schultz, a veteran financial newsletter writer and expert analyst. I shared this in my e-mail of July 26. Among other things, he wrote in his June newsletter that some US embassies worldwide are being advised to purchase massive amounts of local currencies, enough to last them a year. Some embassies are being sent enormous amounts of US cash to purchase currencies from those governments... Inside the State Department there is a sense of sadness and foreboding that something's about to happen -- unknown as to a date, within 180 days, but could be 120-150 days. He also spoke of an impending FDR-style bank holiday. Then I was reminded of my July 27 e-mail stating that expert trends forecaster Gerald Celente predicts a collapse in 2009 and economic Armageddon by 2012. Reportedly, he has been correct on all his past economic predictions. See links below. See http://www.youtube.com/watch?v=Q2qDW34Fr64 and http://www.trendsresearch.com/ or www.collapseof09.com . Because of many past false alarms, my tendency is to discount any such reports. I have been hearing them since the early 1970s. But I would be remiss if I did not pass along this latest information to you. One possibility is that the friend's telephone report first mentioned above is simply feeding off Schultz's or Celente's predictions. These things do get passed around, usually picking up speed, gaining a false credibility as they go. That is a possibility. My friend mentioned above says that his pastor had a vision similar to the above scenarios and is recommending people store and have a supply of essential provisions. I am not saying to do that, but you may want to consider it. Because of the fragility of the economy even in normal times, it is never a bad idea to have extra provisions. I believe the Mormons are smart in this regard. Pray for God's wisdom. I don't know yet what we are going to do. Bottom Line: The above reports may or may not be true. Pray for wisdom. Trust in the Lord and He will "supply all your needs according to His riches in glory," the Bible says. Jim I don't know how true this is. Please pray for our nations economy, the gov't. the fear of things like this, and pray that this is not true. Thank you.