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THE CONTACT WEEKLY NEWSPAPER ISSUE - 629, 25 AUG. - 31 AUG. 2015 PH: (905) 671 - 4761

‘WE ARE STABLE’ says India after the crash

What to expect after global stock selloff Washington Monday was one of the most volatile days in Wall Street history, with high-volume wild swings. The DJIA fell almost 1100 points within minutes after the opening, and then recovered most of the loss, finally ending down 588 points, or almost 4%. The selloff was global. In Europe, stock exchanges in

Kong and Australia fell 45%. So let’s start with where we are. The Contact Weekly predicts that we’re headed for a global financial panic and crisis. According to Friday’s Wall Street Journal, the S&P 500 Price/Earnings index (stock valuations index) on Friday morning (August 21) was at an astronomically high 21.63. This is far above the historical average of 14,

P/E ratio will fall to the 5-6 range or lower, which is where it was as recently as 1982, resulting in a Dow Jones Industrial Average of 3000 or lower. I’ve been pointing out for years that the Wall St bubble had to burst at some point, with 100% certainty. It’s impossible to predict the exact time. It’s worth noting that we still don’t know to this day why

Britain, Germany and France fell around 5%, and in Asia, stock markets in Japan, Hong

indicating that the stock market is in a huge bubble that could burst at any time. We predict that the

the stock market crashed on that particular day, Black Monday, October 28, 1929, instead of a few

Ben Kingsley Wants His New Movie To Change Americans’ Image Of Sikhs

The Oscar winner talks with HuffPost Live about how he hopes the film will change perspectives on

Sikhs. In his new film, “Learning to Drive, “ Academy Award-winning actor Sir Ben Kingsley plays a soft-spoken Sikh taxi driver, Darwan, who gives driving lessons to a work-obsessed Manhattanite, Wendy, played by Patricia Clarkson. Their unlikely friendship transcends both status and race, but Kingsley hopes it can resonate beyond that for audiences.

During a conversation with HuffPost Live on Monday, Kingsley discussed the way his character, who faces the Continued on Page 2

weeks earlier or later. So it’s quite possible that when the crash comes, we’ll never know why it occurred on precisely that day. Most of the commentators and analysts on Monday were their usual glib selves, saying things like, “This is a healthy correction,” and “This is a buying opportunity, and “China has too small economy to affect the rest of the world.” I listened to a number of analysts on CNBC and Bloomberg TV on Monday, and I did notice

a change. Normally, mentioning the price/ earnings ratio (stock valuations) is always strictly forbidden, or if it’s mentioned, then the analysts simply lie, saying “it’s low,” which is ridiculous. But on Monday, I actually heard two or three analysts mention, however briefly, that stock valuations were unsustainably high. This is quite remarkable, as if some secret code were being violated. There’s was one particular exchange that was especially interesting.

Mohamed El-Arian is quite possibly the most glib analyst on TV, always taking a professorial tone, and answering every question by intoning something like, “There are three reasons: one ... two ... three ...” On Monday, he was specifically asked if stock valuations were high. He said, almost under his breath, that they were, and then quickly changed the subject to something completely different. Apparently he is not ready yet to break Continued on Page 2

Mumbai cops put paid to ‘kill Dawood’ plan in 2005 NEW DELHI In a significant disclosure, former Union home secretary R K Singh has said that Indian

Court starts Beant Singh assassination case against Jagtar Singh Tara Chandigarh Additional District and Session judge of Union Territory of Chandigarh Justice Jasvir Singh Sidhu started hearing the case of Beant Singh’s assassination against Bhai Jagtar Singh Tara via video conference on August 19. Due to unavailability of evidence by the

Central Bureau of Investigation (CBI), the court deferred next hearing on September 14. Reliable sources informed that CBI had submitted the first hand evidences to Supreme Court while challenging the lower Court’s decision about Bhai Jagtar Continued on Page 2

intelligence agencies had to abort a covert operation they had planned to take out fugitive underworld don and mastermind of Mumbai serial blasts Dawood Ibrahim. In an

interview to a news channel, Singh said the plan, prepared by national security advisor A K Doval when he headed the Intelligence Continued on Page 2


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