Japan: Factory output slumped at an almost 10% rate, worst since WWII.
Japan headed for its worst postwar recession as factory output slumped an unprecedented 9.6 percent in December, unemployment surged and households cut spending.
The drop in production eclipsed the previous record of 8.5 percent set only a month earlier, the Trade Ministry said today in Tokyo. The jobless rate soared to 4.4 percent from 3.9 percent, the biggest jump in 41 years.
Iceland: The Government is in upheaval after citizens overthrew parliament.
This week, outgoing center right Prime Minister Geir Haarde tendered his resignation following weeks of regular protests by Iceland citizens angry about the government's inability to handle the country's economic troubles. Protests that resulted in a violent clash with police for the first time in Iceland since 1949.France & Germany: Riots are escalating as pressure mounts on leaders to provide solution.
Mr Ryder, speaking as strikes involving hundreds of thousands of workers erupted across France and Germany, told The Times: “We are on the road to serious social instability, which could be extremely dangerous in some countries to democracy itself.”Britain: In the UK, government sources say shorter hours would be preferable to mass unemployment: Britain is facing return of three-day week
France: France Hit by National Strike on Black Thursday
The prospect of the three-day week returned to haunt Britain yesterday as it emerged that ministers are considering paying firms to cut hours in order to survive the recession.
Tens of thousands of businesses are already planning to scale back working hours this year in an effort to stay afloat. But as the country comes to terms with the reality of a recession, it emerged that the Government is looking at compensating employees, through their firms – thereby drawing comparisons with the shutdowns of the 1970s.
Hundreds of thousands of workers are expected at more than 200 rallies to call on President Nicolas Sarkozy to do more to protect jobs and wages.
Three-quarters of people and all the main trade unions support the day of industrial action.
The protesters are demonstrating against the worsening economic climate and rising unemployment in France and at what they believe to be the government's poor handling of the crisis.
Iceland has long been seen as the bellweather for things to come in the rest of the world. We are starting to see tension build toward governments as this crisis continues to build. Global growth is not expected to grow more than a 0.5% annual rate for another 2 or more years; economic improvement is still a long way off.
In the book of Revelation, John sees a world ruled by 10 kingdoms. These kings, who rule over these kingdoms will then sell out their own sovereignty to a one world system.
"And the ten horns which thou sawest are ten kings, which have received no power as yet but receive power as kings one hour with the beast. These have one mind, and shall give their power and strength unto the beast." (Rev. 17:12-13)
Can you ask for a more fertile climate in which to breed a world ruler that could unite the world behind a false cry for peace?
From the Good News Magazine.
Drastic problems like the current economic tumult can lead to drastic solutions. People want immediate action, not principles and platitudes. The leaders most likely to act decisively are those who have no objection to trampling on the rights of others to accomplish their agendas. They get things done, but at a high cost to the freedom and rights of others.In the end they reward those who provide the support they need to keep themselves in power. They call themselves benefactors and statesmen. History sees them as despots and tyrants.
The conditions are here. The next few years may just reveal the final pieces of the prophetic puzzle as we witness His return.