World Meltdown, But Not India?
India
The following three news items were of interest:
Berlusconi Says Leaders May Close World’s Markets
Bloomberg – Oct 10, 2008
Italian Prime Minister Silvio Berlusconi said political leaders are discussing the idea of closing the world’s financial markets while they “rewrite the rules of international finance.”
“The idea of suspending the markets for the time it takes to rewrite the rules is being discussed,” Berlusconi said today after a Cabinet meeting in Naples, Italy. A solution to the financial crisis “can’t just be for one country, or even just for Europe, but global.”
The Dow Jones Industrial Average fell as much 8.1 percent in early trading and pared most of those losses after Berlusconi’s remarks. The Dow was down 0.5 percent to 8540.52 at 10:10 in New York. http://www.bloomberg.com/apps/news?pid=20601087&sid=aP5mpMUORBWM
The world is at severe risk of a global systemic financial meltdown and a severe global depression
The US and advanced economies’ financial system is now headed towards a near-term systemic financial meltdown as day after day stock markets are in free fall, money markets have shut down while their spreads are skyrocketing, and credit spreads are surging through the roof.
There is now the beginning of a generalized run on the banking system of these economies; a collapse of the shadow banking system, i.e. those non-banks (broker dealers, non-bank mortgage lenders, SIV and conduits, hedge funds, money market funds, private equity firms) that, like banks, borrow short and liquid, are highly leveraged and lend and invest long and illiquid and are thus at risk of a run on their short-term liabilities; and now a roll-off of the short term liabilities of the corporate sectors that may lead to widespread bankruptcies of solvent but illiquid financial and non-financial firms.
On the real economic side all the advanced economies representing 55% of global GDP (US, Eurozone, UK, other smaller European countries, Canada, Japan, Australia, New Zealand, Japan) entered a recession even before the massive financial shocks that started in the late summer made the liquidity and credit crunch even more virulent and will thus cause an even more severe recession than the one that started in the spring. So we have a severe recession, a severe financial crisis and a severe banking crisis in advanced economies. http://www.rgemonitor.com/roubini-monitor/253973/the_world_is_at_severe_risk_of_a_global_systemic_financial_meltdown_and_a_severe_global_depression
India can weather financial storm: FM |
New Delhi, Oct 10 (PTI) Finance Minister P Chidambaram today expressed confidence that India can weather the storm of financial crisis blowing across the world saying the country’s economic fundamentals and the banking system were strong.
He admitted there is a liquidity crunch in the market and that the economy was facing ‘spill over and ripple’ effects of the global storm but held out an assurance that the “RBI is ready to take further steps and infuse more liquidity if necessary”.
Referring to the current global meltdown, Chidambaram said “there is a storm blowing in the world. We did not not create the storm. We are facing the spillover effects or the ripple effects of the storm.
“We must brace ourself and weather the storm. I am confident that the Indian economy is strong and resilient to weather the storm and I would request all players in the economy to cooperate with the government in weathering the storm,” he told PTI. http://www.ptinews.com/pti%5Cptisite.nsf/0/8C6A4AAE5AA66B7F652574DF002B50D9?OpenDocument
The world situation is changing. The 21st century will see massive destruction of the Anglo-American peoples as well as the economies of their nations. Other nations, such as India will do much better than the Anglo-American powers until Jesus Christ returns.
Articles of possibly related interest may include:
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?
Asia in Prophecy What is Ahead for China? Is it a “King of the East”? What will happen to nearly all the Chinese, Russians, and others of Asia? China in prophecy, where?
India, Its Biblical Past and Future: Any Witness? The Bible discusses the origins of those of Indian heritage and discusses some of the witness to them.
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?
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?
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? What does the Bible teach?
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?
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