3, 2, 1: Global Debt Meltdown

Prophecy Sign:  The collapse of the global economy at the end-times.

A senior bank official at a European bank is now warning that an economic shock as bad as anything seen so far, is on its way for as early as this September of October.  The financial and economic health of the globe is on life support, and soon the lifeline will be no more and the global meltdown will be upon us.



It's easy to see just how quickly it will be for anyone who seems to have all the answers to the world's problems, to rise to power.  The world is now almost to that point in time.

They will throw their silver into the streets, and their gold will be an unclean thing. Their silver and gold will not be able to save them in the day of the LORD's wrath. They will not satisfy their hunger or fill their stomachs with it, for it has made them stumble into sin. Ezekiel 7:19 NIV

How the gold has lost its luster, the fine gold become dull! The sacred gems are scattered at the head of every street. Lamentations 4:1 NIV

Neither their silver nor their gold will be able to save them on the day of the LORD's wrath. In the fire of his jealousy the whole world will be consumed, for he will make a sudden end of all who live in the earth. Zephaniah 1:18 NIV

 

From the articles:

We are steamrolling toward a massive global debt meltdown, and at this point world leaders seem to be all out of solutions.  Over the last 30 years or so, the greatest debt bubble in the history of the planet has produced unprecedented prosperity in the western world.  But now that debt bubble is starting to burst and the bills are coming due.  Many believe that "ground zero" for the coming global debt meltdown will be in Europe.  Unlike the U.S. and Japan, the nations of the EU can't just print more money to cover their debts. 

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A more severe crash than the one triggered by the collapse of Lehman Brothers could be on the way, according to alarm signals in the credit markets. "The problem is a shortage of liquidity – that is what is causing the problems with the banks. It feels exactly as it felt in 2008," said one senior London-based bank executive. "I think we are heading for a market shock in September or October that will match anything we have ever seen before," said a senior credit banker at a major European bank.

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Uncertainty and volatility are likely to feature in global financial markets for years to come, Australian federal Treasury secretary Martin Parkinson warned on Wednesday. Dr Parkinson addressed the University of Western Australia outlining Treasury's vision for Australia's economic future. He said the troubles facing Europe and the U.S. would weigh on the world economy, and domestically, for many years. "Unfortunately, recurrent episodes of volatility are likely to be a feature of our global financial marks over the next few years, " he said, quoted by Australia Associated Press.

3, 2, 1: Global Debt Meltdown

http://theeconomiccollapseblog.com/archives/3-2-1-global-debt-meltdown

Market crash 'could hit within weeks', warn bankers

http://www.telegraph.co.uk/finance/financialcrisis/8721151/Market-crash-could-hit-within-weeks-warn-bankers.html

Global market to be volatile for years: Australian MP

http://news.xinhuanet.com/english2010/business/2011-08/24/c_131070931.htm