Jul 21, 2008

Danger Point for World Economy

By Jimmy DeYoung

Economic experts are starting to realize that the global economy is at a danger point that may have become a threat to democracy. The global currency system is breaking down. The experts say, "No world leader seems able to discern the problem, let alone forge a solution."

The eurozone is falling into recession even before the US. Its level of credit stress is worse, as a result of central banks pushing debt to a fatal level, and risking to do the same again by over-reacting to the spike in oil prices.

China, India, East Europe and emerging Asia have all stolen growth from the future by condoning credit excess. If America doesn't stabilize, almost every part of the global system will go down together.

Jimmy's Prophetic Prospective on the News

The potential danger of a total failure of our global economy is calling for a world leader to resolve this crisis - a scenario found in Bible prophecy.

The continuing rise in gas prices, the home mortgage crisis, and the failure of some regional banks has the attention of the world - as signs of a threat to the world economy. Economic experts are now saying that if we do not turn this situation around, the global financial system could fail.

An interesting quote coming from this story was "No world leader seems able to discern the problem, let alone forge a solution." However, I must remind you that Bible prophecy does lay out a similar scenario and reveals that there will be a world leader who will come to power for the occasion.

Daniel 7:8 speaks of the "Little horn" - one of 27 names for the Antichrist, this coming world leader. The Antichrist will set in place a one-world economic, political, governmental system that will be headquarter in Babylon - modern-day Iraq, (Revelation 18). Antichrist will control the economies of this world and bring stability out of chaos - only to be brought down at the time that the Lord Jesus Christ returns to the earth, (Revelation 16:17-20).