World News Round Up

For September 4, 2012

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Moody's Cuts EU Credit Ratings!

Editor's Note: While many prophecy experts claim that the EU is the likely fulfillment of Daniel's Beast-Statue, regarding the 10 toes being a revived Roman Empire, it is our opinion that this is not the case. The 10 toes must represent some other form of confederation which may or may not be composed of nations from a revived Roman Empire. We wonder if perhaps the 10 toes is the same 10 nations or leaders as described in Revelation 17:12. Perhaps the 10 toes are something akin to the G-10 Group? One thing does seem certain. The EU itself, as it is now comprised of 27 members, cannot be a fulfillment of Daniel's prophecy concerning the 10 toes. With that in mind, we consider it prophetically newsworthy to pay attention to the potential demise of the European Union and its possible replacement group. That is why we view the following news story as highly important.

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(A-O Newswire) -- It is the next domino to fall in the EU debt crisis. The EU's credit rating from Moody's Investor Services, a credit-rating company, was downgraded by Moody's late Monday night (9/3).

The EU's credit rating had been AAA-rated by Moody's based upon the financial health of 4 key nations: Germany, Britain, France and the Netherlands. This core group accounts for nearly half of the EU budget revenues.

Moody's downgraded both long-term and mid-term debt ratings based upon current economic trends. It changed the characterized 'outlook' from "stable" to "negative."

Moody's specifically cited a: “deterioration in the creditworthiness of EU member states" as the nutshell reason for the credit ratings downgrade. Moody's went on to add: "Additionally, a weakening of the commitment of the member states to the EU and changes to the EU’s fiscal framework that led to less conservative budget management would be credit negative.”

Another factor involved in the Moody's downgrade was a report from the European Central Bank that it would begin buying 3 year bonds from EU nations in financial distress as a way to ease pressure borrowing pressures on those nations.

The EU has about 52 Billion Euros of outstanding debt with about 10.7 billion euros coming due before the end of 2015. This accounts for the EU Central Bank's desire to finance up to 3 years of bonds.

As a result of the credit downgrade, European leaders are stepping up their discussions on ways to resolve the new crisis. For more details on this developing story, LINK HERE to Business Week. LINK HERE for a Wall Street Journal Report. For New York Times coverage, LINK HERE.

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Financial Panic In Spain


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Obama Calls For Constitutional Amendment

To Limit Rights of Free Speech!

President Obama has endorsed a proposed constitutional amendment that would restrict the free-speech rights of political activist groups. Such an amendment would overturn a recent Supreme Court decision granting First Amendment rights to corporations and allow them to run their own political advertising. LINK HERE for details.

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West Nile Virus Grows in USA

It now appears that there will be a  record number of West Nile Virus cases in the United States this  year. 1,600 cases have been reported so far resulting in 66 deaths. The virus first reached America in 1999 and to date more than 30,000 cases have been reported.

The worst of the outbreak in America has been centered in the south, particularly in the state of Texas and most specifically around the city of Dallas, Texas. For more on this story, LINK HERE.

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World Food Prices Jump 10% in July

Perhaps you have noticed the jump in food prices this summer and now its been confirmed. World prices for food jumped 10 percent for the month of July. The price jump is due to major crop failures in key food-producing regions of the world, notably the United States. The U.S. is experiencing an historic drought comparable to that of the Great Depression of the 1930s and the Dust-bowl era.

For areas not hit by drought, some are being affected by flooding. For more on rising food prices, LINK HERE.

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Why 2013 Will Be a Year of Crisis

CNN REPORTS


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Hurricane Isaac's Aftermath:

Power Outages, Floods

We have numerous A-O readers who have been affected in one way or another by this storm. We pray that the Lord will assist any of our readers who have been harmed by the storm and its aftermath and we encourage you to also pray for your fellow believers affected by this storm system.

For details on the storm and its aftermath, see this CNN LINK HERE.

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Large Wildfire in Southern California


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Earthquake Swarm Hits S. California

70 Small Quakes Over the Weekend


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7.6 Mag Quake Hits Philippines


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5.6 Quake Rattles Philippines Mindanao

Not Linked to Friday's 7.6 Quake


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6.5 Quake Hits Indonesia


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6.6 Quake Shakes Greenland


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Quake Swarms Signal Alert

For Alaska Volcano


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Democrats Leave Out 2 Words in Platform:

God and Jerusalem

The Democratic Party's national convention kicked off with a platform which no longer refers to God. It also fails to recognize Jerusalem as the capital of Israel. It is a platform tailored to an Obama candidacy and his foreign policy towards the Middle East and Israel.

For more on this story, LINK HERE and LINK HERE.

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Ebola Cases Soar in the Congo

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