Bloomberg News: “For the last 75 years, almost every economic crisis has been preceded by an oil price spike. The worry now is that low energy prices are pushing the global economy into a tailspin.
While the idea is counter-intuitive, it’s gaining traction because a growing share of the world’s consumers and investors are in the very places getting hammered by the rout in commodities prices. Apple Inc., for example, blamed weaker sales last quarter on lower economic growth in some oil-rich countries.
“I never thought I would wish, let alone pray, for higher oil prices, but I am,” said Han de Jong, chief economist at ABN Amro Bank NV in Amsterdam. “The world badly needs higher oil prices.”
Opinion: For the first few weeks of 2016, the global markets swooned. By all appearances it was 2008 all over again until two seemingly innocuous things happened.
- Mario Draghi hinted at more stimulus
- The Bank of Japan declared negative interest rates
Like a drug addict getting a fix, the global markets celebrated with massive rallies.
I am not an economist, but I’m taking a wild guess that when the world’s top Central Bankers declare that an end to paper money is the best solution to avoiding a global depression, the global markets will celebrate as well.
And it doesn’t take an economist to see that the world’s economies are so weak from unsustainable debt accumulation that a catastrophic event is on the horizon, fitting perfectly with the Third Seal Judgment of Revelation 6:5-6.
But first a leader with solutions to virtually all the world’s problems needs to ride in (Revelation 6:1-2), and even more wars and rumors of war will dominate the headlines (Revelation 6:3-4).
How interesting that the 2016 election season is getting in full swing with such uncertainty that a new candidate could emerge at any moment.
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