Prophecy in today's headlines

Day Of Reckoning Looms For The U.S. Dollar

The U.S. dollar’s day of reckoning may be inching closer as its status as a safe-haven currency fades with every uptick in stocks and commodities and its potential risks – debt and inflation – are brought under a harsher spotlight. Ashraf Laidi, chief market strategist at CMC Markets, said Wednesday a “serious case of dollar […]

Where Are The $ Trillions Going?

Rep. Alan Grayson asks the Federal Reserve Inspector General about the trillions of dollars lent or spent by the Federal Reserve and where it went, and the trillions of off balance sheet obligations. Inspector General Elizabeth Coleman responds that the IG does not know and is not tracking where this money is. Bloomberg Story

Bailout – Too Little…Too Late or Just The Beginning?

The world’s financial markets face an uncertain and possibly volatile week as investors await details about how the Treasury will implement the government’s financial rescue package — and watch for any further fallout from the credit crisis around the globe. The markets have switched their focus to the world economy now that the $700 billion […]

Moral Decline Seen As Reason For U.S. Woes

Many believe American has turned it’s back on God and entered what amounts to the modern-day gates of Sodom. 

Bailout Vote Fails – Stock Market Drops 777 Points

The stock market on Monday suffered its most devastating collapse since the 1987 crash as shellshocked investors dumped shares en masse after the House voted down a proposed $700-billion rescue of the financial system. The unexpected defeat of the bailout package fanned fears that the most debilitating financial crisis since the Great Depression could intensify. […]

German Finance Minister – US Will Lose Financial Superpower Status

The US will lose its role as a global financial “superpower” in the wake of the financial crisis, Peer Steinbrück, the German finance minister, said on Thursday, blaming Washington for failing to take the regulatory steps that might have averted the crisis. “The US will lose its status as the superpower of the world financial […]

Citing Grave Financial Threats, Federal Government Readies Massive Rescue

The Bush administration is urgently preparing a massive intervention to revive the U.S. financial system, including a plan to sweep away the unpaid loans that are choking banks and blocking the flow of money to borrowers. Congressional leaders gave bipartisan support to the administration’s efforts after a meeting last night with Treasury Secretary Henry M. […]