Bank/Debt Crisis in Europe

Rev 6:5-6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”

-Jim Bakker in “Prosperity and the Coming Apocalypse”

Europe’s debt and banking crisis continues while the cause of its woes have yet to be determined or resolved. It appears that it’s only the rhetoric which is holding up the whole system.

The government and bankers are using terms like “restoration of confidence,” “Bank funding risk and growth,” and “erect a firewall big enough to convince the markets,” etc., etc., etc.

Long-term regime refinancing has literally bought more time but cannot take the place of needed financial reforms. This is only a temporary reprieve, it’s like using a band-aide instead of sutures on a wound.

Learn a lesson from Greece. Their economy was upside down. At the top of the list is greed; too many civil service workers with big pension plans. On closer look you see large debt, deficits and no growth. The| Options U.K. finds themselves in the same situation. The politicians are scared to take the big cuts that are needed, to plug the economical hole.

We cannot continue to do the same things we have always done. This is not a static world. Change is required. Smaller government and individual power may well be part of the solution for the fragile European recovery. The facts speak for themselves and they undercut the rhetoric spoken by state leaders. Nicolas Sarkozy, French president said, the Eurozone has “turned the page,” while Italian President Mario Mont reported that the “financial aspect” of the crisis had passed.

At the same time, senor officials in the E.U. gave a stern warning, that long term refinancing cannot take the place of change, reform and higher taxes. There are imbalances in our budgets and weaknesses in our economies.

Unemployment has to be dealt with on an individual basis. If they are unable to obtain employment in their own field, the unemployed must be retrained and re-employed in a field which has openings.

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