Church of God News

IMF Says Advanced Economies Already in Depression

Bloomberg – Feb 7, 2009

Advanced economies are already in a “depression” and the financial crisis may deepen unless the banking system is fixed, International Monetary Fund Managing Director Dominique Strauss-Kahn said. “The worst cannot be ruled out,” Strauss-Kahn said in Kuala Lumpur, where he was attending a gathering of central bankers from Southeast Asia. “There’s a lot of downside risk.”

Ten days ago, the IMF cut its world-growth estimate for this year to 0.5 percent, the weakest pace since World War II. Stimulus packages alone won’t succeed in dragging the global economy out of recession unless confidence is restored in the banking system, Strauss-Kahn said today.

“All this will work if, and only if, the different countries are likely to do what they have to do in terms of restructuring the banking sector,” he said. “And today it’s not done.”

The U.S. economy has lost 3.57 million jobs since a recession started in December 2007, its biggest employment slump of any economic contraction in the postwar period as companies from Macy’s to Caterpillar Inc. cut costs. The U.K. economy will shrink this year by the most since 1946, the IMF forecasts. http://www.bloomberg.com/apps/news?pid=20601087&sid=a6aaWZ8ab8yU&refer=home

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There will be ups and downs.  Ultimately the USA and its Anglo-Allies will have their economies (and nations) destroyed, while the Europeans and their trading partners are prophesied to have better economic times–until just before Jesus returns.

But in the next few years, the economies of almost all nations may be in for a wild ride.

Several articles of possibly related interest may include:

Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? What is ahead for Europe?
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist?  Might Barack Obama set the stage for the kings of the North and South as his timing and at least one Shiite prophecy suggests?  This is the longest and most detailed of the articles here at COGwriter related to prophecy and Barack Obama.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled since he is to be the USA president?
Kenya Rejoices as Obama Wins This is a follow-up to the Barack Obama, Prophecy, and the Destruction of the United States news item and contains additional information about him, prophecies, and his background.  And when the United States and its Anglo-allies may be destroyed.
Barack Obama is Not the Antichrist Some have suggested that he may be, but he cannot be.  Find out why.
Two Horned Beast of Revelation and 666 This article explains how the LCG views this, and compares this to Ellen White.  Neither John McCain nor Barack Obama are 666.
End of Mayan Calendar 2012–Might 2012 Mean Something? There is a Mayan calendar prediction for change in 2012. 2012 changes were also centuries ago predicted by the Hopi Native Americans (the Hindus may have some predictions for the next decade as well). Do these Mayan/Hindu/Hopi prophecies have any value? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012?
Can the Great Tribulation Begin in 2009, 2010, or 2011? Can the Great Tribulation begin today? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? When does the six thousand years of human rule end?
Do Certain Catholic Prophecies About Antichrist Warn Against Jesus? Will the final “Anti-Christ” be Jewish, insist on Saturday, be opposed to the trinity, and bring in the millennium? Catholic writings indicate this, but what does the Bible show?  What is the truth about the return of Jesus Christ?