Prophecy in today's headlines

National Debt Matches Entire Yearly Economic Output

According to many analysts, the United States now faces a debt as big as the nation’s entire economic output for a year. That means it would take every American dollar produced in an entire year to just barely pay off the current debt. “The consequences are grave moving forward because not only is the debt […]

10 Reasons Why The Reign Of The Dollar As The World Reserve Currency Is About To Come To An End

The U.S. dollar has probably been the closest thing to a true global currency that the world has ever seen. For decades, the use of the U.S. dollar has been absolutely dominant in international trade. This has had tremendous benefits for the U.S. financial system and for U.S. consumers, and it has given the U.S. […]

Detroit ‘savaged’ by economic problems – US Struggling To Avoid Recession

The US economy is struggling to avoid falling back into recession, and the gap between rich and poor is at its largest for 30 years.Detroit has been particularly badly hit by the downturn, and is a city struggling with unemployment, poverty, debt and crime. Read More

World economy at a very dangerous juncture – IMF chief

IMF chief Christine Lagarde warned Tuesday that the world economy is at a “very dangerous juncture,” speaking of the potential impact on poorer nations during her first visit to Africa as head of the fund. The International Monetary Fund managing director spoke of a crisis of confidence with high unemployment and slowing global growth.”Currently the […]

Vatican calls for global authority on economy, raps “idolatry of the market”

The Vatican called on Monday for the establishment of a “global public authority” and a “central world bank” to rule over financial institutions that have become outdated and often ineffective in dealing fairly with crises. The document from the Vatican’s Justice and Peace department should please the “Occupy Wall Street” demonstrators and similar movements around […]

Tel Aviv Stock Market Crashes as Panic Grips

Hysteria swamped the Tel Aviv Stock Exchange TASE today when the Tel Aviv 25 Index plunged 7 percent to 1,074.27 points, according to Globes.The opening of trading was delayed nearly two hours, from the usual 9 a.m. to 10:44 a.m. when the automatic shut-off kicked in, Globes reported. Read More

Forbes Predicts U.S. Gold Standard Within 5 Years

A return to the gold standard by the United States within the next five years now seems likely, because that move would help the nation solve a variety of economic, fiscal, and monetary ills, Steve Forbes predicted during an exclusive interview this week with HUMAN EVENTS. “What seems astonishing today could become conventional wisdom in […]

New World Powers Push For End of Dollar Dominance

The BRICS group of emerging-market powers kept up the pressure on Thursday for a revamped global monetary system that relies less on the dollar and for a louder voice in international financial institutions. The leaders of Brazil, Russia, India, China and South Africa also called for stronger regulation of commodity derivatives to dampen excessive volatility […]