Elder Herbie Douglas has dug up some startling statistics that I did not see on CNBC Business Channel, Blomberg, Fox Business or the rest of the Mainstream Media...READ AND WEEP...and then PREPARE!!! Begin with a renewed dedication to Bible Study and PRAYER!!!
Red Alert #221 Pending Collapse of Europe February 25, 2013
“There are not many, even among educators and statesmen, who comprehend the causes that underlie the present state of society. Those who hold the reins of government are not able to solve the problem of moral corruption, poverty, pauperism, and increasing crime. They are struggling in vain to place business operations on a more secure basis. If men would give more heed to the teaching of God's word, they would find a solution of the problems that perplex them.” Testimonies, vol. 9, 13.
Because I write these Alerts two weeks in advance (for several reasons), you may think that what I write today may be “old news” for you when you read this on February 25. But when I read what I wrote two weeks ago, I have to admit that “nothing gets better”! At least so far!
I know that you may be getting weary of frequent references to Europe's weakening, fragile economy. Remember, however, as goes Europe, so goes the weakening, fragile American economy because so much of the wealth of the United States is intertwined in the health or Europe. But that is another story!
Truth--the economic implosion of Europe is accelerating. Truth---while the mainstream media continues to proclaim that the financial crisis in Europe has been "averted", the economic statistics that are coming out of Europe just continue to get worse. Manufacturing activity in Europe has been contracting month after month, the unemployment rate in the eurozone has hit yet another brand new record high, and the official unemployment rates in both Greece and Spain are now much higher than the peak unemployment rate in the United States during the Great Depression of the 1930s.
The economic situation in Europe is far worse than it was a year ago, and it is going to continue to get worse as austerity continues to take a huge toll on the economies of the eurozone. The truth is that most of southern Europe is experiencing a full-blown economic depression right now. Sadly, most Americans should be watching, because this is what happens when nations accumulate too much debt. The United States has the biggest debt burden of all, and eventually what is happening over in Spain, France, Italy, Portugal and Greece is going to happen over here as well. This is not “probably!”
Let's look at some of the facts staring Europe in the face:
www.zerohedge.com/.../20-facts-about-collapse-europe-everyone-sh.
#1 Manufacturing activity in both France and Germany has contracted for 10 months in a row.
#2 Unemployment rate in the EUROZONE now risen to 11.8 percent - a new all-time high.
#3 In November, Italy experienced the sharpest decline in retail sales in the last 17 months.
#4 Manufacturing activity in Spain has contracted for 20 months in a row.
#5 Estimated bad loans make up about 20% of all domestic loans in the Greek banking system.
#6 A whopping 22 percent of the entire population of Ireland lives in jobless households.
#7 Unemployment rate in Greece is now 26 percent--a year ago it was only 18.9 percent.
#8 Unemployment rate in Spain has risen to an astounding 26.6 percent.
#9 Sales of French-made vehicles in November were down 28 percent compared to a year earlier.
#10 Today, the poverty rate in Greece is 36 percent. Back in 2009 it was only about 20 percent.
#11 Astounding 44% of the entire population of Bulgaria is facing "severe material deprivation".
#12 Citigroup is projecting that there is a 60 percent probability that Greece will leave the eurozone within the next 12 to 18 months.
#13 Some homes in Spain are being sold at a 70% discount from where they were at during the peak of the housing bubble back in 2006. Approximately 2 million unsold homes in Spain.
#14 The debt to GDP ratio in Greece is rapidly approaching 200 percent.
#15 According to the Committee of French Automobile Producers, 2012 was the worst year for the French automobile industry since 1997.
#216 Back in 2005, the French auto industry produced about 3.5 million vehicles. In 2012, that number dropped to about 2 million vehicles.
One thing that these shocking numbers cannot convey is the tremendous amount of pain that many average Europeans are living through on a daily basis at this point. Unfortunately, this is just the beginning. Things are going to get even worse for Europe.
Meanwhile, those of us living in the United States smugly look down our noses at Europe because we are still living in a false bubble of DEBT-FUELED PROSPERITY. The recent fiscal cliff fiasco-deal was an indication of that. Taxes are going up and government spending is at least going to slow down. It won't be too long before the effects of that double-whammy are felt in the economy.
And of course the reality is that the U.S. economy really did not perform very well at all during 2012-- “The U.S. economy unexpectedly contracted in the fourth quarter for the first time since the last recession.”
www.ibtimes.com/us-4q-gdp-falls-01-first-decline-q2-2009.
So if you are an American, don't laugh at what is happening over in Europe at the moment. We are headed down the exact same path that they have gone, and we are going to experience the same kind of suffering that they are going through right now.
Use these last few "bubble months" to prepare for what is ahead. At some point this "hope bubble" will disappear and then the time for preparation will be over.
For Alert readers, this is not “gloom and doom.” Yes, on one hand, it is not easy to struggle with most others just to survive, but Alert readers see “THE BIG PICTURE.” The One who painted the Big Picture is the One who predicted these End-Times. And, as always, He is the Great Provider, who has promised “never to leave us nor forsake us” (Hebrews 13:5)
R&H, Aug. 5, 1902: "Those who place themselves under God's control, to be led and guided by Him, will CATCH THE STEADY TREND OF EVENTS ordained by Him to take place.” To see previous Red Alerts, go to
www.eredalert.com Get a copy of the book Red Alert (PPPA) by calling: 1-800-400-1844.
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Topic: EUROPEAN ECONOMY SLIDES CLOSER TO THE ABYSS (Read 5600 times)
