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A month ago Denmark declared itself in a recession. There are indications that European countries are soon to follow America into recession. And now Australia has taken a large hit and could headed toward the doldrums as well:
"The world's financial storm has swept through Australia and New Zealand this week amid mounting signs of contagion across the Pacific region.
"Financial shares were pummelled in Sydney on Tuesday after investor flight forced National Australia Bank (NAB) to slash a £400m bond sale by two thirds.
"The retreat comes days after the Melbourne lender shocked the markets by announcing a 90pc write-down on its £550m holdings of US mortgage debt, an admission that it AAA-rated securities are virtually worthless."
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/07/30/cnoz130.xml&CMP=ILC-mostviewedbox
Dr. Stephen Jones has been writing blog posts since 2005 on a variety of topics from Bible Studies to World News, and he has been writing books since 1992. Dr. Jones' most important writings came after God brought him back into the full-time ministry in 1991. It is here that all his earlier years of searching the Scriptures began to come into clear focus. He combines a knowledge of the Old and New Testaments with a personal revelation of God that began and developed during the "wilderness" period of his life, which he often refers to as God's True Bible College... Read More
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