Tags: stock exchange, wall street
1Timothy 6:9,10 But they that will be rich fall into temptation and a snare, and into many foolish and hurtful lusts, which drown men in destruction and perdition. For the love of money is the root of all evil: which while some coveted after, they have erred from the faith, and pierced themselves through with many sorrows.
“…the manipulation of money and goods is soon to be revealed as the main method of control imposed upon society by the Antichrist.”
-Jim Bakker in “Prosperity and the Coming Apocalypse”
Stock trading on Wall Street fell to its lowest monthly level over four years according to a report released by Credit Suisse. The surprising drop in the middle of a bull market could be due to a rise in popularity among options and futures markets.
Credit Suisse also reported a drop in high frequency trading and stock splits. It noted that there was no way to “sugar coat” volumes being lower and trending in that same direction.
Doug Kass of Seabreeze Partners told CNBC that it’s possible the downturn is due to the average investor being cautious after two bear markets in the last decade.
“There is no fresh money going into the markets,” said Doug Kass of Seabreeze Partners. “Why should we be surprised the retail investor is not there? We’ve had two huge drawdowns in stocks since 2000, a flash crash two years ago and real incomes are stagnating.”
“The financial industry has placed itself above the investing public (“muppets”) and will take every advantage it can secure,” said Alan Newman, author of the Crosscurrents financial newsletter. “The public’s confidence has been shattered, possibly beyond repair.”