Unrelenting Global Economic Crisis: A Doomsday View of 2012

Prophecy Sign:  The collapse of the world markets and the global economy

The year 2012 is nearly upon us, so to everyone out there...Happy New Year, and oh by the way, the economy may well collapse or be radically changed in the coming year.  Cherry news don't you think?  We thank our God that he takes care of his own, and supplies all our needs, (Philippians 4:19).  If we didn't have that assurance, life would look pretty bleak about now.  If you haven't this assurance which only God Almighty can provide, then right now make the call to Jesus Christ and ask him to become the Lord of your life.  You will be glad you did and all these things will be added unto you, (Matthew 6:33).

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 article:

The economic, political and social outlook for 2012 is profoundly negative. The almost universal consensus, even among mainstream orthodox economists is pessimistic regarding the world economy. Although, even here, their predictions understate the scope and depth of the crises, there are powerful reasons to believe that beginning in 2012, we are heading toward a steeper decline than what was experienced during the Great Recession of 2008 – 2009. With fewer resources, greater debt and increasing popular resistance to shouldering the burden of saving the capitalist system, the governments cannot bail out the system.

Many of the major institutions and economic relations which were cause and consequence of world and regional capitalist expansion over the past three decades are in the process of disintegration and disarray. The previous economic engines of global expansion, the US and the European Union, have exhausted their potentialities and are in open decline. The new centers of growth, China, India, Brazil, Russia, which for a ‘short decade’ provided a new impetus for world growth have run their course and are de-accelerating rapidly and will continue to do so throughout the new year.

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The head of the International Monetary Fund said the world economy was in danger and urged Europeans to speak with one voice on a debt crisis that has rattled the global financial system. In Nigeria last week, IMF Christine Lagarde said the IMF's 4 percent growth forecast for the world economy in 2012 could be revised downward, but gave no new figure. "The world economy is in a dangerous situation," she told France's Journal du Dimanche in an interview published on Sunday. The debt crisis, which continues into 2012 after a European Union summit on December 9 only temporarily calmed markets, "is a crisis of confidence in public debt and in the solidity of the financial system," she said.

Unrelenting Global Economic Crisis: A Doomsday View of 2012

http://www.globalresearch.ca/index.php?context=va&aid=28349

IMF's Lagarde warns global economy threatened

http://ca.news.yahoo.com/imfs-lagarde-warns-global-economy-threatened-124931514.html