The world is bracing for the possibility of $150-200 per barrel oil prices, and the economic damage that would cause. One of many economists is now predicting a sudden end of the fragile growth we have seen over the last few months and retreat back into a recession, (see below).
We have previously, and will continue, to warn of the prophecy in our bible which suggests that an economic tsunami is coming our way here in these the end-times, (James 5 & Revelation 18). This tsunami will sweep away our present way of doing business and usher in a new global economic structure; That being the economy of the Antichrist. While we are of the opinion that the Church will be taken out of the mix prior to the rule of the Man of Sin, we still may have to endure some major economic upheavals between now and then.
In the meantime, we suggest you buckle up and get your personal finances in order. It may not be a bad idea to have some hard assets on hand like gold or silver coinage, and a good supply of staple foods tucked away in a back room or a closet. God provides, but he also gives us wisdom to prepare.
From the articles:
Some investors see trouble. They are buying oil options contracts for $150 and $200 a barrel with expiry dates late this year, either as a bet or as an insurance against Mid-East mayhem. Barclays Capital said the options "call skew" is more stretched now that it was during the 2008 spike. The implication is that markets are less sure this time that the crisis will blow over quickly, perhaps because the events the last month amount a strategic rupture. The entire political order of the Middle East has effectively disintegrated, risking of years upheaval in a region that provides 36% of global oil supply and holds 61% of proven reserves.
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The oil price spike caused by the political instability in some Middle East and North African countries could derail the fragile economic recovery in the world, said Nouriel Roubini, the economist who predicted the global financial crisis. Speaking at the Middle East Investment Summit 2011 in Dubai
Oil markets brace for Saudi 'rage' as global spare capacity wears thin
Oil spike could result in double dip
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