Is World A Recession Looming On The Horizon?

European Central Bank, Frankfurt (Eric Chan)

 

COGwriter

In Europe there are concerns that the USA is messing up its finances:

Here Comes The Open Revolt: A Reeling Europe Lashes Out At The Fed For “Bringing Us To A World Recession”

October 11, 2022

As a result of the Fed’s relentless tightening blitz, which on November 2 will have hiked rates by 75bps on four occasions in just 96 trading days, the fastest tightening campaign since Volcker, both US capital markets (the S&P 500 is down -24%, for the 4th worst year on record, only 1931, 1974, and 2002 were worse; and 10Y TSYs are down -17% for the worst year on record… 1987 second worse, and bonds were down -10%) and the US economy have been left reeling.

However, the damage in the US – whose economy is relatively isolated from the knock-on (or is that out) effects of the soaring global reserve currency – are nothing compared to the devastation unleashed by the Fed in the form of the soaring dollar and exploding interest rates. …

Josep Borrell, the high representative of the 27-member EU bloc, lashed out all too publicly at the Fed when he said that central banks (across Europe where the recession will be far, far worse than in the US) are being forced to follow the Fed’s multiple rate rises to prevent their currencies from slumping against the dollar, and compared the US central bank’s influence to Germany’s dominance of European monetary policy before the creation of the euro. …

“Everybody has to follow, because otherwise their currency will be [devalued],” Borrell said to an audience of EU ambassadors, the FT reported. “Everybody is running to increase interest rates, this will bring us to a world recession.” https://www.zerohedge.com/economics/here-comes-open-revolt-reeling-europe-lashes-out-fed-bringing-us-world-recession

Yes, Europe will blame the USA, and not just Russia, for economic crises.

Notice also something from Martin Armstrong from a few months ago:

The European Debt Crisis 2023-2024

June 16, 2022

The European Central Bank has announced that it plans to create a new tool to tackle the risk of eurozone fragmentation, which is the new term for divergence among member states. They are adopting this tactic out of fears of a new European debt crisis that is inevitable. From the very beginning when the EU Commission was charged with designing the Euro came to our conference in London in 1997, I warned that the promises that everyone would be paying the same rate of interest merely because they were creating a single currency was a complete fantasy. I further warned that this would lead to the collapse of the Euro if not the entire EU. …

We are now in the 24th year of the Euro and its survival beyond post-2024 is questionable.  https://www.armstrongeconomics.com/world-news/central-banks/the-european-debt-crisis-2023-2024/

It is possible that there will be a European debt crisis in 2023 or 2024.

Interestingly, the late Pastor General of the old Worldwide Church of God, Herbert W. Armstrong, had a view about banking matters and European unity. Here is something he said in a sermon on July 7, 1984:

And I can see now, the event that is going to trigger the formation of the reunification in Europe; the resurrection of the medieval Holy Roman Empire that we’ve been looking forward to that is prophesied to come…

But I believe that some event is going to happen suddenly just like out a blue sky that is going to shock the whole world and is going to cause the nations in Europe to realize they must unite! … Well now I think I can see what may be the very event that is going to trigger…that is the economic situation in the world

The whole banking structure in the United States is a network all jointed together. But not only that, one nation has to deal with other nations and imports and exports. And so they have to have a means of transforming money from one nation to another. And so the banking structure is international and interwoven…

Now when the financial structure breaks down, all civilization is going to break down…

So, an economic or banking crisis is what Herbert W. Armstrong concluded would drive Europe to unite.

And yes, Europe will unite against the USA as well as its British-descended allies.

The Bible shows that Europe will have a “great army” (Daniel 11:25; watch also PESCO and a Great European Army) and a conquering empire with “many ships” (cf. Daniel 11:29-43).

Of course, some believe that despite WWI, WWII, and previous massive wars, that Europe would never start WWIII. Yet, this overlooks a biblical prophecy:

5 O Assyrian, the rod of mine anger, and the staff in their hand is mine indignation. 6 I will send him against an hypocritical nation, and against the people of my wrath will I give him a charge, to take the spoil, and to take the prey, and to tread them down like the mire of the streets.

7 Howbeit he meaneth not so, neither doth his heart think so; but it is in his heart to destroy and cut off nations not a few.

8 For he saith, Are not my princes altogether kings? 9 Is not Calno as Carchemish? is not Hamath as Arpad? is not Samaria as Damascus? 10 As my hand hath found the kingdoms of the idols, and whose graven images did excel them of Jerusalem and of Samaria; 11 Shall I not, as I have done unto Samaria and her idols, so do to Jerusalem and her idols? (Isaiah 10:5-11, KJV)

The USA is sometimes prophetically referred to as Samaria (and sometimes as Manasseh) in biblical prophecy (for details, watch USA in Prophecy: Samaria). So, even though Germanic-led Europe (referred to as Assyria above) does not seem to wish to do this (Isaiah 10:7), according to biblical prophecy it will come to pass. The USA will be defeated (cf. Daniel 11:39; see also USA in Prophecy: The Strongest Fortresses).

The USA, with many of its policies, is setting the stage for Europe to turn completely against it. And, let me add that Europe will not forgive the UK for Brexit either.

Article with related written items and videos: ZH: A Reeling Europe Lashes Out At The Fed For “Bringing Us To A World Recession” COGwriter: Could this lead to HWA’s ‘banking crisis’?

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