In an expanding universe, celestial objects are continually moving further apart from one another as they move apart from their common origin. If all objects in the universe were falling down a giant black hole, by necessity, all objects in the universe would be moving closer together as they neared their common destination.
That theory is beginning to have a problem as it is based on Hubble's observation of Red Shift and his conclusion and explanation of what was causing it!
One of his students has been doing some work:
Seeing Red: Intrinsic redshifts, stable universe
Somewhat related thread :