News and Prophecy Staff

Ireland is among the top third of European nations in per capita income. They have a debt ratio lower than that of France, Germany and the UK, but the Celtic Tiger sees major financial issues ahead. Ireland’s banking sector is now at a point where the government cannot bail it out.

A German news magazine, Der Spiegel, recently headlined an article: A Superpower in Decline; Is the American Dream Over? Photos in the article of abandoned American factories, lines of unemployed citizens seeking jobs, houses in foreclosure, and unfinished housing developments project a dreary picture of life in the United States.  The article claimed that “Americans have lived beyond their means for decades,” and “everything was paid for (homes, cars, college tuition, etc.) with borrowed money—which has driven the total US household debt to almost $1 trillion, nearly 20 t

In September, the United Nations called a special meeting to address the global rise in food prices.  In July and August alone, worldwide food prices rose 5%. Droughts in Russia’s wheat growing region prompted a continuation of its ban on the export of wheat outside Russia.  Simultaneously, lower corn yields in the U.S. led to a record-high trading price for corn for the year.

Last week, Britain and France reached an historic defense pact.  “‘Today we open a new chapter in a long history of cooperation on defense and security between Britain and France,’ Mr. Cameron said.  Mr. Sarkozy said the agreements showed ‘a level of trust and confidence between our two nations which is unequalled in history.’”

Two weeks ago, the Vatican Synod of Bishops declared that the Israeli claim to the Holy Land and Jerusalem, as a God-given promise, was not biblically legitimate. Monsignor Bustros declared, “we Christians cannot speak of the ‘promised land’ as an exclusive right for a privileged Jewish people... There is no longer a chosen people.”

The Anti-Defamation League immediately responded to the Monsignor’s comments as “the worst kind of anti-Judaism, bordering on anti-Semitism” (Jerusalem Post online, October 27, 2010).