Prophecy in today's headlines

Next Debt Crisis May Start in Washington

The US needs to take urgent action to cut its debt in order to prevent the next financial crisis, which may start in Washington, Sheila Bair, chair of the Federal Deposits Insurance Corp. (FDIC) wrote in an editorial in the Washington Post. The federal debt has doubled over the past seven years, to almost $14 […]

Debt Dynamite Dominoes: The Coming Financial Catastrophe

In October 2008, the mainstream media and politicians of the Western world were warning of an impending depression if actions were not taken to quickly prevent this. The problem was that this crisis had been a long-time coming, and what’s worse, is that the actions governments took did not address any of the core, systemic […]

Be Prepared, The Worst Is Yet To Come

The large-scale government intervention in the economy is going to end badly. Any number of pundits claim that we have now passed the worst of the recession. Green shoots of recovery are supposedly popping up all around the country, and the economy is expected to resume growing soon at an annual rate of 3% to […]

US May Face Armageddon If China, Japan Don’t Buy Debt

The US is too dependent on Japan and China buying up the country’s debt and could face severe economic problems if that stops, Tiger Management founder and chairman Julian Robertson told CNBC. “It’s almost Armageddon if the Japanese and Chinese don’t buy our debt,” Robertson said in an interview. “I don’t know where we could […]

Economic Crisis Makes Europe Richest Region In the World – Report

Europe has emerged as the richest region in the world, pushing North America, where wealth has declined by more than 20 percent due to the economic crisis, off the top spot, a study has shown. The world’s richest also feel the recession biting, especially in North America, where the financial crisis first unfolded a year […]

FDIC Could Use A Financial Lifeline of It’s Own

The government agency that guarantees you won’t lose your money in a bank failure may need a lifeline of its own. The Federal Deposit Insurance Corp. coffers have been so depleted by the epidemic of collapsing financial institutions that analysts warn it could go red by the end of this year. That has happened only […]

FDIC – Bank Profits Drop By 86 Percent – 117 Banks In Trouble

The government says U.S. banking profits fell 86 percent in the second quarter, while the number of troubled banks rose to the highest level in about five years. The Federal Deposit Insurance Corp. says the roughly 8,500 banks and thrifts also set aside a record 50 billion dollars to cover losses from soured mortgages and […]