One of the things missing from the Bible’s end times prophecy is America. That has always been perplexing as we over the years have been a strong Christian nation, probably the strongest in the world. There are a lot of theories around what will happen, but the collapse of our economy and leveling of the playing field (no super power) is bound to be needed for other events to take place.
I think you will see from the articles below, as well as dozens of others out there, that we are well on our way, inching closer each day to the edge of the cliff. Unfortunately, most Americans do not know! We must help wake them up. At this point, turning back to God and preparing our families is the best we can do. We have to be grounded and prepared to help those that wake up to late.
_____________________________________________________________
US Federal Reserve mulls further debt purchases
Mr Bernanke faces opposition from at least one colleague to further stimulus measuresThe US Federal Reserve will buy up more debt if the outlook worsen “appreciably”, minutes from its August meeting have revealed.
The central bank preferred to purchase US government bonds, but did not rule out buying further mortgage debts.
The Fed has already bought $1.4tn (£910bn) of mortgage debt in its efforts to stimulate the economy.
The minutes also showed that one of committee member voted against keeping its investment at this level.
US stocks gave up earlier gains following the minutes’ release, as investors continue to worry about the economic outlook and the Fed’s ability and willingness to deal with a slowdown.
The Dow Jones fell 60 points (0.6%) to 9,980 as markets digested the contents of the minutes. <Link>
——————–
Hints Of Change In The World Monetary System
NEW YORK–Ever since its inception 66 years ago, the International Monetary Fund has fancied itself at the center of the global economy.
But only now does the prospect of a multilateral monetary authority providing stability to the international financial system seem even remotely possible. That’s because for the first time in decades there are legitimate uncertainties surrounding the one institution that does play that role: the U.S. dollar.
In that context, a couple of recent IMF-related announcements are more important than they normally would be. <Link>
——————–
Problem bank list climbs to 829
By Hibah Yousuf, staff reporterAugust 31, 2010: 1:42 PM ET
NEW YORK (CNNMoney.com) — The government’s list of troubled banks hit its highest level since 1993 during the second quarter, although the pace of growth continued to slow, according to a government report released Tuesday.
The number of banks at risk of failing rose by 53 to 829, the Federal Deposit Insurance Corp. said in its quarterly survey of the nation’s banking system. That increase marks the smallest rise since the first quarter of 2009.
However, it’s still nearly double the 416 banks that were on the FDIC’s watch list a year ago and is up from 775 in the first quarter of this year.
Banks that end up on the problem list are considered the most likely to fail. But few of the lenders on the list actually reach the point of failure. On average, just 13% of banks on the FDIC’s problem list have been seized and shuttered by regulators.
So far this year, 118 banks have failed, with 45 closings during the last quarter. <Link>
——————–
America Rust:
German unemployment rate 7.6%...
America's economy grows at 1.6%, revised down since its initial announcement at 2.4% (deception) but the bigger picture is we are declining while the rest of the world is growing. Our unemployment rate is stuck in the upper 9's IF you discount all of those that have quite looking, include those and we are quickly in the double digits (around 17%). <Link>
_____________________________________________________________
Click on “<Link>” above for each referenced article.
myBlessedHope 