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Europe's Black Monday

Jan 22, 2008

Yesterday is being called "Europe's Black Monday," because of the steep decline in the stock markets around the world. A friend from Australia sent me an article last Friday predicting such a crash on Monday, so apparently, this was not an unforeseen event.

The subprime mortgage problem that surfaced last August was only the beginning of the problem. The economic boom that began in President Clinton's term of office has proven to be the result of improper financial practices, much like administering a stimulant drug to a sick person. The drug might make the person feel good, but it does not cure the underlying health problem.

Read Bob Henley's blog on www.servias.org for his analysis of the problem.

The Fed today lowered interest rates a full .75% in an emergency action, and this could be followed by more rate cuts next week at their regular meeting. This beats last September's emergency rate cut of .5 %, showing that big money is indeed very worried--much more than they will say out loud, for fear of starting a panic.

Speaking of panic, the word is now finally being used in regard to Europe and Asia, though they will hesitate to use it in regard to the American markets. The markets run on faith in the continuing order of things, and because no one wants to start a panic, do not expect to ever get the truth from official sources when bad news is the reality. It is their job to administer faith in the Babylonian system. When you understand their natural bias and know that they truly believe that lying is justifiable in such situations, you will know how to take what they say with some skepticism.

It might be good for the economy to hear such white lies, but we don't have to believe them.

Lowering the interest rates is good for the stock market in the short term, but it also trashes the dollar and drives up the price of gold and silver--and all imports, by the way, unless their currencies drop as fast as ours does. Right now the dollar has dropped nearly two cents against the euro, which is huge. So throwing cheap money at the mortgage and credit crisis does not solve the underlying rot in the foundations of Mystery Babylon. Some are saying that the Fed's action smacks of desperation.

We are coming to the end of the current "Watch Time" cycle, which ends January 26-30. I thought that we probably would not see a major crash in the markets before then, but I was wrong. But then, we have yet to see what might happen in another week. I'm not predicting anything. I'm just watching to see how this revealed time cycle manifests, because it tends to set the trend for the coming year.

The more the dollar drops, the more likely it is that other countries will start dumping the dollars that they hold, especially China, which holds a trillion US dollars in their reserves. Every 1% drop in the value of the dollar means that they lose $10 billion. Problem is, if they start dumping dollars, every dollar they sold would only serve to drive down the value of the rest of their dollar holdings. They are between a rock and a hard place, and an earthquake has already struck.

The American consumer has been driving the Asian markets for quite some time. Simply put, we use credit/debt to have the cash flow to buy what they export, while their own people save their money. In recent years, most of the countries in the world have sold their exports to American markets, and this has boomed their economies, while harming our own. They call it "free trade." As Americans, we love bargains, and so we buy the goods that can be produced at lower costs overseas, and put American manufacturing out of business.

We have trade unions that demand higher wages than companies can pay in order to compete with the workers from other countries who are willing to work hard for a pennies an hour. "Free trade" ultimately destroys trade unions and drives manufacturing jobs overseas. The American economy is certainly a big strong bull, but with a hundred creatures poking holes in it to suck its blood for their own sustenance, the bull is eventually bled dry and cannot stand. When the bull dies, the creatures must find another bull or starve to death.

This is why the Asian and European markets are crashing now. They believe that the American "bull" is in terrible shape, and they understand that their exports are severely jeopardized by it. What will they do if the American people do not buy their products? Or even if there is a slowdown? It reminds me of Rev. 18:11, which speaks of the fall of Mystery Babylon:

"And the merchants of the earth weep and mourn over her, because no one buys their cargoes [merchandise] any more."

It is clear to me that we are heading for a precipice at increasing speed. The immediate government will probably react in its own way--by taking more control and removing more rights from the people. They will convince the people to demand their own enslavement. But what they do not know is that God is behind this, and He has a counter-plan to cause Mystery Babylon to fall and to replace it with His New Jerusalem Kingdom. Do not judge by appearance. The news is not bad, but good--at least for those who have faith in God as the result of real experience in being led by the Spirit.

On April 26 a day of national repentance is being planned, which came out of a vision that came to Shawn-Marie Cole some time ago. She saw millions of American people crying out to God for mercy, and the President on his knees as well. President Bush has agreed to lead this national day of repentance. This will be worth watching, and I would encourage your participation.

But the question we have had is this: What event(s) might cause millions of people to cry out to God for mercy? What would bring the President to his knees?

Perhaps these recent economic events might be at least a part of that answer. Anyway, you can watch a video of that original vision and read more about this at: www.reigndownusa.com .

It seems to me, now that we have (I think) completed our 14-year time of spiritual warfare and intercession since November of 1993, we are now about to see the fall of Jericho-Babylon on a large scale. How long will it take? I do not know, but this will be accompanied by an unprecedented opportunity to preach the Gospel of the Kingdom to all nations. It is bad news to Babylon, but good news to the New Jerusalem.

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Category: News Commentary

Dr. Stephen Jones

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