U.S., EU ‘dangerously close to recession’

Prophecy Sign:  The restructuring of the global economy, (system of the Antichrist), and outright economic collapse in the last days.

Just when you thought it was safe to go back into the market waters!!.  (cue Jaws theme music)

Now listen, you rich people, weep and wail because of the misery that is coming on you.  Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. James 5:1-3 NIV

From the articles:

The threat to the global economy from the debt burdens of developed nations from the U.S. to Europe has roiled world markets this month and wiped trillions of dollars off the value of equities. At the same time, slowing expansions in countries including Germany, the key driver of European growth, are hurting confidence.  The U.S. and Europe are “dangerously close to recession,” Morgan Stanley analysts including Chetan Ahya said in the note. “Recent policy errors, especially Europe’s slow and insufficient response to the sovereign crisis and the drama around lifting the U.S. debt ceiling, have weighed down on financial markets and eroded business and consumer confidence.”

______________________________ 

European equities suffered their biggest daily fall in two and a half years on Thursday, as a slew of data cast further doubt on the strength of the recovery in the world's biggest economy.

______________________________ 

Gold prices are again marching in record territory, nearing $1,830 an ounce, as the global economic picture gets uglier by the minute. Gold jumped 2% to hit an all-time high (not adjusted for inflation) of $1,829.70 an ounce Thursday morning, as jittery investors dumped risky assets like stocks and rushed into traditional safe havens, including gold and U.S. Treasuries.

U.S., EU ‘dangerously close to recession’

http://business.financialpost.com/2011/08/18/u-s-europe-dangerously-close-to-recession/

European Shares Fall Most Since March 2009

http://www.cnbc.com/id/44184849

Gold hits new record near $1,830 an ounce

http://money.cnn.com/2011/08/18/markets/gold_prices/