Prophecy Sign: The collapse of the global economy
We keep warning that the world is fast heading towards a global economic
restructuring of epic proportions. Not necessarily a complete collapse, as we
believe this will come later during the latter part of the Tribulation, (read
Revelation 18).
We do however believe that the current world economic order must be brought
down and replaced with a system of commerce that will be controlled by the
Antichrist and the 10 Kingdoms that are noted in both Daniel 7 and Revelation
17.
Buckle up folks, as the economic ride looks to be heading for some major turbulence.
From the articles:
are hopelessly over-indebted. The crisis that started in the
real estate sector in 2007 has devastated state finances on both sides of the
and is threatening to wreck the euro and trigger a second global downturn. The
world lacks the political leadership needed to end the turmoil. The fear is back, in the stock exchanges and in the capitals
of the industrial nations. There are growing signs everywhere of a new
financial crisis, and the political leaders of the West are looking helpless
and out of their depth.
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A chorus of global economists has
called on the European Central Bank to go far beyond pin-prick purchases of
eurozone debt. It needs to launch quantitative easing on a massive scale to
head off a eurozone debacle, if necessary purchasing half the entire stock of
Italian and Spanish debt, they argue. Stephen King, HSBC's chief economist,
said the ECB should drop its ideological opposition to QE and embrace easy
money in "exactly the same" way as the US Federal Reserve. "At
the heart of the problem is the ECB's unwillingness to be seen 'monetizing' government
debt. Yet if the alternative to QE is the collapse of the euro or a descent
into depression, then massive expansion of the ECB's balance sheet seems a
small price to pay," he said.
______________________________________
The Bank of America took the worst punishment with a 23
percent decline in its stock. Investors did not miss the warning by a Standard
& Poor executive that the
credit rating may be lowered again after its landmark downgrade from AAA to
AA+. Heads of the European Union and national leaders, with no
solutions for the debt crises plaguing two major members
and
in a panic over the threat to the Eurozone and euro currency. Their fears are
driving droves of investors across the world out of the markets in the hope of
safe landings in gold (which shot up to $1.721 the ounce), the Japanese yen and
the Swiss franc.
Is The World Going Bankrupt?
European Central Bank must go nuclear to save
World in crisis: Markets dive. Mobs burn
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