A Stockholm based peace institute is reporting that global military spending has set a new record high up by 45% since 1999 and in contrast to civilian aerospace and airlines, the defense industry remains healthy.
The global financial crisis has yet to have an impact on major arms companies with the 100 leading defense manufacturers selling arms worth 347 billion dollars during 2007, the most recent year for which reliable data was available.
The US remains the biggest spender though China and Russia have reduced the gap with both China and Russia tripling their military spending budgets and Russia is maintaining plans for further increases despite severe economic problems.
Jimmy's Prophetic Prospective on the News
With global military spending setting new record highs in today's economy, there is evidence that Bible prophecy is closer to fulfillment than ever before.
Military information reveals there are over 150 conflicts and wars around the world today and this ever increasing number is what has caused global military spending to set new record highs in our world. Throughout the continent of Africa, there are numerous armed conflicts intensifying. In the Middle East, we hear daily reports of new conflicts or an intensification of the wars now in progress. The US, China and Russia lead the way in military spending and these big three seem to be right in the middle of almost every war.
This report is evidence that Jesus was correct when He said in His Olivet Discourse, Matthew 24, that before He came back to the earth, there would be wars and rumors of wars, nations against nations and kingdoms against kingdoms, Matthew 24:6-7. Many Jewish prophets wrote of this same scenario for the Last Days that would include Ezekiel, Daniel, Jeremiah, Joel, Obadiah and Malachi just to name a few. These ancient Jewish prophets echoed the words of Jesus Christ, in the Last Days, wars will be spreading around the world.
This record high in global military spending is indeed evidence that Bible prophecy will be fulfilled.
Global arms spending hits record in 2008: think tank - Reuters
Worldwide military spending on weapons hits record high - Telegraph.co.uk
China takes No. 2 spot in global defense spending - SmartBrief
The world's military spending grows, along with number of conflicts - RIA Novosti