Latest Bible Prophecy Commentary
Could The Near Collapse Of The Global Economy Set The Stage For The Rise Of The Antichrist?
The headline on today's Drudge Report was "MOST DANGEROUS TIME FOR GLOBAL ECONOMY". The global economy is in desperate condition and many don't realize how bad it's going to get. As our society continues to gray, many are oblivious to the dangers of the falling world market. With most of our retirement plans tied up in mutual funds and company pensions you see the dangers that could develop. If you are presently retired, relying on a big company pension fund, IRAs, and Social Security, etc., you probably feel your financial future is set until you die. However, over the last few years, more than ever before, it has become abundantly clear how this world has become interconnected through an unstable global economy. Virtually every financial fund is interconnected and relies on growth in order to make good on their monthly pension payouts. Take the housing market, in order for most cities to stay solvent, they must rely on ever-increasing property values to raise the necessary capital to pay their bills.
In a statement by the Chancellor of the Exchequer, Rt Hon George Osborne MP, on the global economy, he said the following:
Mr Speaker, people will be concerned about the turmoil in the world’s financial markets and what it means for economies here and across the globe.
I want to use the opportunity of the recall of Parliament to update the House on what we are doing to protect Britain from the storm and to help lead a more effective international response to the fundamental causes of this instability.
As of this morning, after heavy losses yesterday, markets in Asia and Europe are calmer.
But over the past month:
The Dow Jones index has fallen by over 14%;
The French market is down 23%, the Nikkei by 11%
And it is striking that the German market is down 24% and even Chinese equities are down 20% since November.
Bank shares in all countries have been hit particularly hard.
Many sovereign bond markets too have been exceptionally volatile – with market rates for Italian and Spanish debt soaring, before falling back in the last three days.
Sadly Britain is not immune to these market movements.
In the last month, the FTSE 100 is down by 16% and British bank shares have also been hit hard (hm-treasury.gov.uk).
So where is this global economy headed? Frankly, I believe it's going to get a lot worse before it gets better. For years, prophecy experts have stated that they believe a faltering global economy could be one of the avenues for which the Antichrist will achieve world acclaim ( Daniel 8:25). Is it possible, in this final generation, this future man of sin could burst onto the world scene, bring peace to the Middle East and fix an economy that was previously considered unfixable? The world may very well be in the beginning stages of this very scenario.
Are you ready to meet the Lord? If not, your time is running out!
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