CRISIS! A Definition for this Generation. The World Awaits a Leader

It seems that we simply move from one crisis to the next. We hear that term daily now - whether it is the U.S. financial situation (usually leading to very bad decisions by the U.S. government, such as the stimulus bills) - whether it is regarding the world financial situation, the EU, China's involvement in Taiwan, the Middle East, etc etc. Almost every story we encounter these days involves "crisis" whether real or imagined - it doesn't really matter. "Crisis" seems to define this generation.

Just watching the news this morning, over the period of an hour, by scanning the news shows I kept hearing the mantra of "lack of leadership" and "lack of true leaders". Over and over.

With that in mind, doesn't this era seem very ripe for a world leader to emerge who has apparent solutions to these various problems, aka "crises"?

Can you even imagine the how the world would embrace such a leader?

The time is so ripe for the emergence of the antichrist - who could step in and offer the solutions.

With that in mind, today we have two main stories which define today's "crisis":

1. The world's financial crisis:

The economic mood is darkening by the day

Over the past fortnight, a palpable sense has grown that the global economic crisis triggered by the 2008 banking crash may only now be getting into its stride. The brinkmanship in Washington over the lifting of the US debt ceiling exposed the fragility of the world’s economic powerhouse.

Even more troubling for the markets has been the eurozone’s sovereign debt crisis. The emergency Brussels summit on July 21, which approved a further bailout for Greece and agreed new measures to prevent contagion, was supposed to have drawn a line in the sand. It did no such thing.

Yesterday, the first whiff of panic emerged from Brussels. With equity markets tumbling everywhere, Commission President José Manuel Barroso fired off a letter to all European governments, demanding urgent action to prevent the crisis spreading from the periphery to the rest of the eurozone.

If only the uncertainty was confined to the eurozone. The US economy has just been hit by a slew of disappointing indicators, while Japan was yesterday forced to intervene in the currency markets to devalue the yen in an attempt to shore up its own ailing recovery. There is now an ominous sense that this crisis is only just beginning.

"Total fear": Dow Drops 512 points

U.S. markets were already sharply lower on widespread worries, including the weak job market. But the selling gained momentum as Japanese and European policymakers stepped in with dramatic measures to shore up their financial markets.

There’s “total fear” in the market, said Bob Doll, chief equity strategist at the world’s largest money manager, BlackRock.

By “devastating economic reports,” he means this, this, and this, all of which are being served with a garnish of a new debt crisis in Europe. Follow the link above to Podhoretz’s post and read his account of chats with investors. They can’t make a move because they’re paralyzed with uncertainty over government policy

Here's The Problem With This Market Crash

For anyone who followed the market crashes of 2000-2002 and 2007-2009--especially the crash of 2007-2009--the 512-point drop in the Dow feels awfully familiar.

And as those market crashes reminded us, the downdrafts can last a lot longer and be a lot more severe than most people initially think.

But there are also several very important differences between this market crash and the ones a few years ago:
The Fed has fired most of its bullets (interest rates are already at zero)

- Our budget deficit is already out of control, and Congress has had it with "stimulus"
- The public has had it with bailouts
- That means the government's ability to do anything about this market crash is severely limited.

Barroso raises alarm about severity of euro crisis

European Commission President Jose Manuel Barroso has indicated that bond market developments on Italy and Spain threaten the very survival of the euro.

The top official in a letter sent to the Heads of State or Government of the Euro area on Wednesday (3 August) and made public by the commission on Thursday said new bailout measures agreed by the 17 eurozone countries in July "are not having their intended effect on the markets", after the cost of borrowing for Italy and Spain spiraled this week.

World markets plunge amid worsening euro-crisis

Stock markets plunged on Thursday (4 August) to levels last seen in 2008 at the height of the financial crisis, amid worsening concerns about the US economy and Europe's capacity to overcome their debt problems.

Dow falls 512 in steepest decline since '08 crisis

Gripped by fear of a new recession, the stock market suffered its worst day Thursday since the financial crisis in the fall of 2008. The Dow Jones industrial average fell more than 500 points, its ninth-steepest decline.

It was the most alarming day yet in the almost uninterrupted selling that has swept Wall Street for two weeks. The Dow has lost more than 1,300 points, or 10.5 percent. By one broad measure kept by Dow Jones, almost $1.9 trillion in market value has disappeared.

Debt crisis: Global markets plunge as eurozone contagion spreads

José Manuel Barroso’s warning came as stock markets plunged around the world amid growing fears of another global recession.
Mr Barroso called for an emergency strengthening of Europe’s bail-out mechanism. He said he had “deep concerns” about the faltering Spanish and Italian economies.

Global stocks tumble amid recession fears

Stocks around the world tumbled Friday ahead of crucial U.S. jobs figures, continuing a losing streak reminiscent of the aftermath of the collapse of U.S. investment bank Lehman Brothers in 2008.

Growing panic about the debts of big eurozone countries like Italy and Spain combined with fears the U.S. may be heading back into recession. Jobs figures later could heavily-influence whether the U.S. economy is indeed on the point of shrinking again.

Japanese, Australian, Hong Kong markets tumble

Asian stock markets tumbled Friday amid fears the U.S. may be heading back into recession and Europe’s debt crisis is worsening. The sell-off follows the biggest one-day points decline on Wall Street since the 2008 financial crisis.

“Losses today have been indiscriminate,” said IG Markets strategist Ben Potter in a report. “The big question on everyone’s mind is what will happen across European and US markets tonight and will there be any form of emergency policy response?”

2. The Middle East Crisis

Iron Dome battery moved south after Gaza-rocket attacks

Due to escalation in rocket fire from Gaza Strip, Defense Minister Ehud Barak decided Friday to deploy a battery from the Iron Dome anti-rocket defense system outside the southern city of Ashkelon.

Barak's decision came after close to thirty rockets have been fired into Israel since the beginning of July.

On Friday morning, the Air Force struck five targets in the Gaza Strip following several strikes earlier Thursday, coming in response to increased rocket fire emanating from the Strip in recent days, including one rocket which reportedly landed in the Lachish area but caused no damages or injuries.

Surprise, surprise: The PA Rejects Netanyahu's offer of 1967 borders. Why? They cannot admit that the Nation of Israel has a right to exist.

PA Spurns Netanyahu Concession

Palestinian Authority officials said Thursday they will pursue their statehood bid at the United Nations despite Israeli Prime Minister Binyamin Netanyahu's offer to use the pre-1967 lines as a basis for negotiations.

Senior PA official Saeb Erekat characterized Netanyahu's concession as a publicity stunt intended to disuade the PA from its unilateral statehood bid outside the framework Oslo Accords that allow it to exist.

The statehood request "will be ready to present before the next UN General Assembly session" in September, said Erekat.

Russia: NATO close to military steps in Syria for beachhead to attack Iran

Moscow's envoy to NATO Dmitry Rogozin accused the Western alliance of planning a military campaign against Syria to help overthrow the Assad regime "with the long-reaching goal of preparing a beachhead for an attack on Iran."

"The noose around Iran is tightening," he said. "Military planning against Iran is underway. And we are certainly concerned about an escalation of a large-scale war in this huge region."
The Russian envoy made a point of citing NATO – never once mentioning the United States in his remarks. However, they were definitely meant to clarify to Washington that Moscow is fully updated on the next American military steps in the Middle East and Persian Gulf.

The only power with the requisite military strength is the United States, which was therefore the unspoken address of Rogozin's warning.

Russian diplomats have repeatedly cautioned Tehran that it incurs the danger of American attack on its nuclear facilities. Now Syria has been included.

NATO plans campaign in Syria, tightens noose around Iran - Rogozin

NATO is planning a military campaign against Syria to help overthrow the regime of President Bashar al-Assad with a long-reaching goal of preparing a beachhead for an attack on Iran, Russia's envoy to NATO Dmitry Rogozin said.

Hamas Attacks Near Intel Factory for First Time since Cast Lead

Hamas neared Israel’s industrial heartland Thursday night with two missile attacks on Kiryat Gat, home to a huge Intel factory. No one was injured, and the IDF already has retaliated with an aerial strike on terrorist targets.

These latest missile attacks are not a lone incident. Three other rockets exploded south of the port city of Ashkelon, where oil and natural gas facilities are located. One other rocket exploded between Ashkelon and Kiryat Gat Wednesday night.

Hamas has slowly escalated the number of its rocket attacks in the past month, attacking Israel with four times the number of missiles than it did in June.

'Dozens killed in Hama as Syrian tanks, snipers deployed'

Dozens of people were killed Friday in the northeastern Syrian city of Hama, a city that has seen some of the most violent elements of President Bashar Assad's bloody crackdown on anti-government protesters, pan-Arab news channel Al Arabiya quoted human rights activists as saying.

Snipers were seen on the roofs of buildings, activists told Al Arabiya, and tanks were deployed in various districts of the city.

The world is in a perpetual "crisis" mode now and there appears to be no end in sight, as this is just beginning.

There also appears to be no solution, as everything attempted thus far has only served as a "band-aid" - including both the U.S. and Europe. Such feeble attempts at solutions have only worsened these "crises".

The world is spiraling rapidly - almost like an airplane that has completely lost control and is spiraling downward - beyond the point of recovery. The complete crash hasn't occurred yet, but it is inevitable.

We know for a fact that a world-leader will appear on the scene with apparent solutions. A world-leader who will be embraced by most of the world, and presumably the world's press. A world-leader who will solve the Middle East problems. A world-leader who will appear both charismatic and highly compelling.

The road is being paved and the world is ready. His time appears to be coming soon.

But that also means that Jesus' time to appear to His bride - the Church - is also near.

As the Bible dictates, it is time for us to be looking up - after all, our redemption is drawing near.