K.S. Rajan (2 Jan 2012)
"Economic update"

Revelation 4:1
After this I looked, and, behold, a door was opened in heaven: and the first voice which I heard was as it were of a trumpet talking with me; which said, Come up hither, and I will shew thee things which must be hereafter.
World Economic Update: December 2011
By David and Willie Hauser
The European psychodrama continues. It has been a two year spectacle of procrastination, dithering, and missed opportunities. Central banks do not employ emergency steps unless there is an emergency. This week European Central Bank President, Mario Draghi initiated bold measures to prevent a global credit crisis. Five hundred and thirty two banks borrowed $489 billion euro from the ECB. Interbank lending had become prohibitively expensive. The central bank’s loan program only addresses the symptom of plunging liquidity. Comatose economies like Greece need to boost their competitiveness and create a more streamline government that is friendlier to business. What is the root cause of the problem and is there a solution?
When we think of the European debacle of 2011 it is quite different from the American crisis in 2008. The United States of America was credit worthy in 2008, and the survival of the dollar unquestioned. Europe more resembles the U.S. in 1777 under the Articles of Confederation. Back in 1777 the colonies were not a cohesive unit. The Articles of Confederation set the stage for the U.S. Constitution, which bound the original colonies under the supervision of a strong Federal government. The Europeans may be using this crisis to create a super state, a United States of Europe. There is concern in financial circles that this new found money that was funneled to these banks through the ECB will be invested in more toxic sovereign debt of dubious value.
The emergency European summit on December 9, reinforced the concept of austerity at all costs. Angela Merkel the German Prime Minister and Nicolas Sarkozy, President of France, affectionately know as “Merkozy” finally agreed to implement strict budgetary guidelines across the Euro-zone. Angela Merkel pointed out that in a system where "sinners" continue to judge themselves there would be no fiscal discipline at all. Only a supranational body such as the European Commision could insure compliance.
One look at the social unrest in Greece gives us a clear picture of where this is headed. Austerity breeds economic stagnation. With the formation of the European Union, low cost loans became available. The Greek government was able to cover deficit spending and uphold a national pastime of not paying taxes. With the help of investment bankers they also cooked the books to make things look better then they actually were. This is why the Germans who tried conquering Europe by force in World War Two are exasperated. Conquest by currency may work for a while, but there is a good chance the euro will fall apart before it gets that far. In the last update, we quoted the German Finance minister. If you read between the lines, the Germans intend to use this crisis to create greater political and financial integration. The Finance Minister also suggested that the Europeans need a President of Europe duly elected by the people.: Shades of Antichrist!
A recent study by Mr. Atkeson, a professor of economics at UCLA looks at the volatility of bank stocks. His premise is that this is a barometer which forecasts major economic contractions. His study covers the years 1926 through 2011.
In normal times volatility stays below 1% and sometimes goes as high as 2%. It rarely goes above 3% unless something dreadful is about to happen to the economy. During the panic of October 1929, it approached 9%. The fear subsided after the initial crash but steadily climbed to 4% then 5% in 1932. By then the banking system had collapsed. During this crisis, President Franklin Roosevelt declared a national bank holiday
Fast forward to the crisis of 2008 where it rose to over 7%. and then came down to normal levels. As we enter 2012 it is over 4% heading to 5%. When the stock market went up almost 500 points on November 30, 2011 and days later went down 300 points, this is an indication of bank stock volatility. It appears to be a indicator of the coming global economic collapse that will set the stage for the coming Antichrist and the one world monetary system.
Those of us who follow the direct correlation between the words of the ancient Hebrew prophets and current day events are not surprised