Global financial collapse
as seen by Greenspan and Bible.
Comment from writer...
The financial problems of the US have spread thruout the economies of the world. The one world order is entering a one world collapse...As this cycle continues and more banks and corporations face bankruptcy..
Greed and love of money has brought this condition into a disaster. There would be much less pain and suffering if our elected Senate and congress had acted responsibly. Instead they chose to do nothing...The price we will pay, each of us can not be estimated. As you read the following scriptures and see how God would handle this issue it would be less painful and disrutive. We are doing it the way of the flesh or carnal greed of men..The Lord is referring to debt cancellation on a voluntary basis.
Lehman Brothers Files for Bankruptcy !!
Leviticus 26:8-17 The Year of Jubilee
8 " 'Count off seven sabbaths of years—seven times seven years—so that the seven sabbaths of years amount to a period of forty-nine years. 9 Then have the trumpet sounded everywhere on the tenth day of the seventh month; on the Day of Atonement sound the trumpet throughout your land. 10 Consecrate the fiftieth year and proclaim liberty throughout the land to all its inhabitants. It shall be a jubilee for you; each one of you is to return to his family property and each to his own clan. 11 The fiftieth year shall be a jubilee for you; do not sow and do not reap what grows of itself or harvest the untended vines. 12 For it is a jubilee and is to be holy for you; eat only what is taken directly from the fields.
13 " 'In this Year of Jubilee everyone is to return to his own property.
14 " 'If you sell land to one of your countrymen or buy any from him, do not take advantage of each other. 15 You are to buy from your countryman on the basis of the number of years since the Jubilee. And he is to sell to you on the basis of the number of years left for harvesting crops. 16 When the years are many, you are to increase the price, and when the years are few, you are to decrease the price, because what he is really selling you is the number of crops. 17 Do not take advantage of each other, but fear your God. I am the LORD your God.
US in 'once-in-a-century' financial crisis : Greenspan
US in 'once-in-a-century' financial crisis : Greenspan
The United States is mired in a "once-in-a century" financial crisis which is now more than likely to spark a recession, former Federal Reserve chief Alan Greenspan said Sunday.
The talismanic ex-central banker said that the crisis was the worst he had seen in his career, still had a long way to go and would continue to effect home prices in the United States.
"First of all, let's recognize that this is a once-in-a-half-century, probably once-in-a-century type of event," Greenspan said on ABC's "This Week."
Asked whether the crisis, which has seen the US government step in to bail out mortgage giants Freddie Mac and Fannie Mae, was the worst of his career, Greenspan replied "Oh, by far."
"There's no question that this is in the process of outstripping anything I've seen, and it still is not resolved and it still has a way to go," Greenspan said.
"And indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes.
"That will induce a series of events around the globe which will stabilize the system."
Greenspan was also asked whether the United States had a greater-than 50 percent chance of escaping a recession.
"No, I think it's less than 50 percent.
"I can't believe we could have a once-in-a-century type of financial crisis without a significant impact on the real economy globally, and I think that indeed is what is in the process of occurring."
The former Federal Reserve chairman also predicted that the financial crisis would see the failure of more major financial institutions, even as embattled Wall Street investment giant Lehman Brothers scrambled to find a buyer.
"In and of itself that does not need to be a problem.
"It depends on how it is handled and how the liquidations take place. And indeed we shouldn't try to protect every single institution."
On Saturday, Democrat Barack Obama's campaign seized on a warning from Greenspan about John McCain's tax plans to portray the Republican as economically reckless.
In an interview with Bloomberg Television Friday, Greenspan said the nation could not afford 3.3 trillion dollars of tax cuts proposed by McCain without matching cuts in spending.
Greenspan, a long-time friend of McCain and a Republican, said about the Arizona senator's plans to extend massive tax cuts imposed by President George W. Bush: "I'm not in favor of financing tax cuts with borrowed money."
McCain has said he would pay for his cuts by ending pet funding projects for US lawmakers' districts known as "earmarks."
| Next > |
|---|
