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Friday June 24, 2016

// June 24th, 2016 // Comments Off on Friday June 24, 2016 // Daily News

Welcome to the world after Brexit: Here’s what happens next

CNBC.com

A majority of British voters decided that the United Kingdom should leave the European Union, and Prime Minister David Cameron announced his resignation. Global markets are moving wildly, and currencies are making big moves, but the actual political process will be much, much slower.
First — technically speaking — the referendum is not legally binding. In theory, Cameron, who plans to leave by October, could ignore the will of a slight majority of voters, and not make any moves to exit the political and economic bloc.
But Cameron, who led the campaign to remain in the EU, is likely to invoke Article 50 of the Lisbon Treaty, which begins the legal process for leaving the bloc.
“The British people have made the very clear decision to take a different path and as such I think the country requires fresh leadership to take it in this direction,” he said Friday in a televised address outside his residence. “I do not think it would be right for me to be the captain that steers our country to its next destination.”
Once Article 50 is invoked, a series of negotiations would begin about how to disentangle the U.K. from the many EU structures to which it is a party. The process could take two years or more, if both the U.K. and the European Council agree to extend the discussion period.
Cameron has said this process would be irreversible.
“We should be clear that this process is not an invitation to rejoin, it is a process for leaving,” he said in February.
Some have suggested that British leadership could avoid invoking Article 50 all together, and would instead attempt to negotiate a different — not entirely separate — relationship with the EU.
In the more immediate term, markets are going to react in a big way. The Brexit has no historic precedent. No precedent means volatility in markets, probably on a global scale.
If there’s one near-definite result that experts can safely predict around a Brexit, it’s that it increases the amount of uncertainty in markets. Market watchers have predicted a global flight to safer assets — and indeed, that appears to have already begun: Gold futures, the classic safe-haven asset, rose more than 8 percent at one point, before paring some of those gains.

Today’s Inspiration

He Will Never Leave Us

by Joyce Meyer – posted June 24, 2016

[I will] not in any degree leave you helpless nor forsake nor let [you] down (relax My hold on you)! [Assuredly not!]
—Hebrews 13:5

I was born again when I was nine years old. The night I was saved, I had to sneak out of the house to go to church with some relatives who were visiting us because my dad wouldn’t have permitted us to go if we had asked. I knew that I went to be saved that night, and I don’t even know how I knew that I needed salvation.

The pastor did not have an altar call that evening. I was really scared, but at the end of service I walked to the front of the church, taking two of my cousins with me. I looked at the pastor and said, “Can you save me?” He was sorry that he hadn’t offered an altar call, but I had a glorious cleansing of my soul that night.

I knew I was born again, but the next day I cheated in a game of hide-and-go-seek with my cousins by peeking to see where they were going, and I thought I lost my salvation! I was in my twenties before I realized that Jesus had promised not to abandon me. Hebrews 13:5 confirms this promise: For He [God] Himself has said, I will not in any way fail you nor give you up nor leave you without support. [I will] not, [I will] not, [I will] not in any degree leave you helpless nor forsake nor let [you] down (relax My hold on you)! [Assuredly not!]

Monday June 20, 2016

// June 20th, 2016 // Comments Off on Monday June 20, 2016 // Daily News

Ex-Morgan Stanley CEO warns about the biggest risk he sees to markets

CNBC.com

John Mack, former chairman and CEO of Morgan Stanley, told CNBC on Monday he sees “geopolitical risk” as the biggest threat to global prosperity and financial markets.
“Hopefully, nothing happens. But there’s a lot of turmoil, whether it’s in the Middle East … North Korea … or China and their [disputed] islands,” Mack said on “Squawk Box,” citing the risk of a “geopolitical blow-up” as his top concern.
“All it takes is for one person to make a mistake. And then you have a global event,” he added in a wide-ranging interview that included his thoughts on the United Kingdom vote Thursday on whether to stay in the European Union trading block.
‘I [bet against Brexit] with bookies in London.’
“I like to take risk. I bet they don’t leave. So that’s where I put my money down,” he said, concerning the Brexit referendum. He said he did not bet in the financial markets. “I did it with the bookies in London.”
In a separate “Squawk Box” appearance Monday, BlackRock Chairman and CEO Larry Fink said he’s “still nervous” about a Brexit but hopeful Britain stays in the EU, which he argued would help boost global stock markets, including Wall Street.
‘I’ve always been bullish on China.’
Meanwhile, Mack said he owns stocks in China and believes the government there will solve, over time, the forces putting a drag on the world’s second-largest economy.
“I’ve always been bullish on China. Are they have having some issues and problems? The answer is yes,” he admitted. “[But] I have a lot of confidence in the leadership of that country.”
Some of the “issues and problems” that Mack was talking about are China’s excessive debt levels and the bumpy transition from export-led growth to a consumption and services model.
As a quality-of-life issue, Mack said: “Clearly there’s dissatisfaction on the environmental issues in China. I think that is a larger issue than we think of here in the United States or maybe in Europe.”
Mack talked about the smog choking many of China’s biggest cities. “When you see pictures of someone walking down the street and you can’t see across the street, because of the pollution — I think that’s a huge issue.”
In a second stint at Morgan Stanley, Mack served as chairman and CEO from 2005 to 2009. He gave up the chairman title at the end of 2011.

Today’s Inspiration

God Will Help You

by Joyce Meyer – posted June 20, 2016

Fear not, for I am with you; be not dismayed, for I am your God. I will strengthen you, yes, I will help you, I will uphold you with My righteous right hand. . . . Those who war against you shall be as nothing, as a nonexistent thing. For I, the Lord your God, will hold your right hand, saying to you, “Fear not, I will help you. Fear not, you worm Jacob, you men of Israel! I will help you,” says the Lord and your Redeemer, the Holy One of Israel.
—Isaiah 41:10-14 NKJV

When we start reading today’s Scripture, we might think, Wow. God must be talking to people who really have their act together, but the good news is that He is talking to ordinary people just like you and me. He helps us because He is good, not because we are. Fear comes against all of us, and God wants us to know that we don’t have to let the feelings of fear defeat us. We can keep moving forward in the presence of fear because He is with us.

If someone has hurt you or treated you unjustly, remember that God promises to deal with them and make them as nothing at all… nonexistent!! When we read that God will strengthen us that means He will enable us to do whatever we need to do today and everyday. God is with you, and that makes you equal to anything that comes against you. Because God is with you, that makes you greater than any problem you have.

Fear is not God’s will for you. He wants you to be bold, courageous, and confident, and you can be if you remind yourself often that you are not alone. God is with you!!

Love Yourself Today: Remember that God is with you at all times and you can do whatever you need to do.