News and Prophecy Staff

Some politicians claim the U.S. economy is rising from the ashes even while Europe’s financial situation melts down.  However, numerous analysts believe more turmoil remains for the United States.   In Europe, Britain gives wise financial advice but continues to “borrow” endlessly without fixing its own financial problems.  According to one financial analyst, “The entire [British] tax system needs to be replaced with something coherent.”  In fact, he notes that “…the optimal size of government is closer to a third” (The Telegraph, May 17, 2012).

Noted economic historian Niall Ferguson observed in a recent interview that the only real solution to Europe’s financial crisis is a full fiscal union—a true United States of Europe—that would be unquestionably under the leadership of the financial powerhouse, Germany.   Ferguson believes Europe could limp along for a while with Greece falling into step with EU demands and Germany digging deeper into its wealthy pockets.    However, he states that while “I am not a federalist… the costs of the single currency disintegrating are really so high and would impact so many people, that t

Tensions in a resource-rich region of central Asia threaten to disrupt a 25-year ceasefire between Armenia and Azerbaijan.  The two nations signed a treaty after the Nagorno-Karabakh War (1988-1994).  However, in a direct provocation, Azerbaijani troops entered Armenia and killed three out-of-uniform soldiers.  An Armenian military source stated, “The killing is a clear provocation, we have not reacted yet.  I underline: ‘Yet’.”  The “war rumor” has raised concerns in the EU, Russia, and the U.S. due to the critical importance of the region.

Recently, a radical Muslim preacher told thousands of Muslim Brotherhood supporters in Egypt, “We can see how the dream of the Islamic caliphate is being realized, God willing, by Dr. Mohamed Mursi [the movement’s presidential candidate]... The capital of the caliphate—the capital of the United States of the Arabs—will be Jerusalem, God willing… Our capital shall not be in Cairo, Mecca or Medina… Yes, Jerusalem is our goal. We shall pray in Jerusalem, or die as martyrs on its threshold.”

The mounting debt crisis in Greece is again prompting talk that Greece will or should depart from the Eurozone!  Respected columnist Roger Bootle writes in London’s Telegraph newspaper that Greece’s departure from the Eurozone and its return to the drachma may be the only way for Greece to recover from its insurmountable debt.  Returning to the drachma will allow it to print enough money to continue functioning.  European and U.S.