CONTAGION – WHAT CONTAGION??

-by Andrew Strom. (-April 27, 2010).

The US Stockmarket was down over 200 points today. Why?
Because of the “contagion” occurring in Europe. Most of you will
have heard in the last two weeks of the Greek Debt crisis. Well –
it is spreading. Even though there is claimed to be a “bailout”
for Greece in the works, the markets are taking their own action,
and seemingly mass ‘contagion’ into other nations is underway.
The nations most at risk are Portugal – then Spain – then Ireland,
Italy and maybe U.K. Nobody knows how bad it will get. But it
is already pretty bad.

For months we have stated that “another wave down” is coming
in the economy. Could this be the cause?
Clearly – yes. Or perhaps it is something else. Certainly, this one is big enough to do it.

Today, S & P cut Greece’s debt ratings to “junk” status and also
downgraded its rating on Portugal’s debt by two notches. This
makes it much harder for them to borrow. Already this crisis grows
worse every day. Some analysts even say it could break up the
Eurozone. Certainly, “contagion” from country to country to
country is already underway.

As one equity strategist told MarketWatch today, “This is a
Western European country that has the euro imploding before our
eyes. If you don’t think that has a ripple effect, you belong in the
summer of ’07 again.”

The Telegraph’s International Business Editor wrote today: “The
European Central Bank may soon have to invoke emergency
powers to prevent the disintegration of Southern European bond
markets, with ominous signs of investor flight from Spain and Italy.”

Today, yields on 10-year Greek bonds spiked up to a record 9.73pc.
Yields on 10-year Portuguese bonds spiked 48 basis points to
5.67pc, replicating the pattern seen in the onset of the Greek crisis.

Jacques Cailloux, chief Europe economist at the Royal bank of
Scotland told the Telegraph: “We have gone past the point of no
return: there is a complete loss of confidence. The bond markets
are in disintegration and it is getting worse every day.”

“They may have to act as contagion spreads to larger countries
such as Italy, and we started to see the first glimpse of that today,”
he said. The interest rate on a €9.5bn (£8,2bn) issue of Italian
notes jumped to 0.814pc, up from 0.568pc in March. Italy has the
world’s third biggest debt in absolute terms.’ [- www.telegraph.co.uk ]

Greece is one thing, but once the crisis reaches big countries like
Spain and Italy – which it already seems to be starting to do – then
it could easily become a global Tsunami. I have heard that David
Wilkerson prophesied years ago about a coming “Debt default” by
a nation causing a huge financial storm. It is still too early to
tell if this is it. But certainly the “Great Recession” is not over yet.
A time to pray and prepare, my friends.

God bless you all.

Andrew Strom.

Posted in Articles by Andrew on May 1st, 2010 at 3:13 am.

17 comments

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17 Replies

  1. sandi smith Apr 28th 2010

    I have been keeping in mind, David Wilkerson’s prophetic message from ’08…it’s coming. Sadly, many Christians have not prepared, because they have not heeded the warning. It’s not going to be good.

  2. We all know it’s coming. Only those who don’t want to see it are blind to it’s approach. We are thankful the Lord has taught us to live by faith. We are not stocked up, that’s not what the Lord has asked of us here, but we have been tested in trusting Him to provide when there is nothing in your pocket and no visible means of getting money, and our faith has been proven. He always provides. We believe He has prepared us so that we can teach others to live by faith when they can no longer trust in themselves and the world to provide their needs.

  3. A time to live in faith and not in fear. A time to get busy about the masters business and proclaim this gospel to a lost dying and hurting world. Judgement must and is coming, time to our houses and our lives in order.

    He is coming for those watching for his appearance. Many need to turn off their TV’s and computers and focus on the will of God…. As judgement comes some will be looking to us for answers…. Be ready always to give answer to the hope that lies within you/.

  4. Andrew Apr 28th 2010

    Yes – Amen, Daniel.

  5. Free Willie Apr 29th 2010

    How many of you who talk about “living by faith” actually help God out by having a vegetable garden, servicing your own car, cutting your own firewood and telling the kids that you cannot afford to keep keeping up with the Joneses?

    We don’t have sheep on our place, but I can buy a sheep for $70NZ which has a carcase weight of 35-40kgs, spend 2 hours killing it and cutting it up, and have meat on the table for $2 a kilo compared to 10-12$ a kg from the shops.

    Bingo, God just helped me feed my family and save me about $300, and I also got out and got some exercise. Alternatively I could have spent those same two hours on my knees pressuring God to do for me what I could do for myself.

    How would you feel if your own kids came to you with this same scenario? Wouldn’t you tell them to get off their butts and get to work?
    I know that not all of us have the skills to kill a sheep, but why pay hundreds to have a car serviced when we can do it ourselves for about a quarter of the price, unless of course you have a modern one with all those little computers to run everything, but if you can afford that, then theoretically you don’t need Gods help to meet your needs, do you.

    We all have skills/talents that are buried in the ground because we have heard someone say that it is a good thing to be totally reliant upon God and bless-ed to watch him meet our needs, but the moral of the story was about doing what he could with what he had while he could.

    How fine a line is it between being dependant upon God and trusting him for everything, and helping God out by being self-reliant, self-sustaining and self-sufficient knowing God helps those who help themselves?

    Independance of God is a sin.
    Total Dependance on God can be a trap.
    Co-dependance can be liberating and is a lot more interesting.

  6. Ck out what Pas. Wilkerson said about a year ago >
    http://www.worldchallenge.org/en/coverletter/an_urgent_message

  7. FearGod Apr 29th 2010

    And my God shall supply every need of yours according to his riches in glory in Christ Jesus. Php 4:19

  8. “And my God shall supply every need of yours according to his riches in glory in Christ Jesus. Php 4:19″

    And don’t forget the Scripture:

    2 Thess 3:10-12 “…if anyone is not willing to work, then he is not to eat, either. For we hear that some among you are leading an undisciplined life, doing no work at all, but acting like busybodies. Now such persons we command and exhort in the Lord Jesus Christ to work in quiet fashion and eat their own bread.”

  9. FearGod Apr 30th 2010

    Joh 14:15 If ye love me, ye will keep my commandments.

    1Jn 3:24 And he that keepeth his commandments abideth in him, and he in him. And hereby we know that he abideth in us, by the Spirit which he gave us.

    Joh 15:7 If ye abide in me, and my words abide in you, ask whatsoever ye will, and it shall be done unto you.

  10. Amen. And one of the commandments is:

    2 Thess 3:10-12 “…if anyone is not willing to work, then he is not to eat, either. For we hear that some among you are leading an undisciplined life, doing no work at all, but acting like busybodies. Now such persons we command and exhort in the Lord Jesus Christ to work in quiet fashion and eat their own bread.”

  11. FearGod Apr 30th 2010

    agreed

  12. Praise God.

  13. Sarah Faupel Apr 30th 2010

    Free Willy,

    I am so sick and tired of hearing that quote: “God helps those who help themselves”. THIS IS NOT IN THE BIBLE and it is NOT what Jesus taught. Read the book of John. The example of Jesus was TOTAL DEPENDENCE on the Father for all He said and did. We should follow this example and to the degree we don’t, we are not doing the Father’s will and cannot possibly then be disciples of Christ.

  14. Sarah,

    Paul stated in a number of place in his letters that he worked to support himself, even though he was worth of the support of the church. Was he not dependent on God? Was he not doing the Father’s will?

    I think that Free Willy is just pointing out that we have a part in the process as well.

    Blessings,

    Don

  15. Sarah Faupel May 4th 2010

    I understand this and couldn’t agree more. I was only addressing what Free Willy said there at the end. I realized that my response was incomplete. We absolutely have a part, it’s just my strong conviction that this part is only God’s will as we have been made vessels and containers of the Life of Christ that His righteousness by faith is the product. This requires a death to our own life (self: power, effort, strength, works, etc.) so that His life can come forth and whatever we do is done to the glory of God. I understand that this may look like self-effort to those who do not recognize the life of Christ in another. Moreover, this requires TOTAL dependence on God which is never a trap but is total freedom in the Spirit and the only way to live as Christ did. Yes, we have a part in the process…only surrender and entering the sabbath rest (Hebrews 4). The rest is ceasing from our own works and submitting to the Father’s work in and through us.

  16. For insight into global economics, see the following sites:

    http://www.europac.net/videoblog.asp (Peter Schiff’s site and video blog)
    http://www.prudentbear.com/index.php/home (Prodent Bear’s website)
    http://www.brusselsjournal.com/ (A conservative site from Brussels)
    http://victorhanson.com/ (classic military historian and thinker)

    Reading through these sites will uplift intelligence all around.