Author Topic: Eurozone returns to Recession  (Read 1771 times)

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Eurozone returns to Recession
« on: November 15, 2012, 07:17:40 AM »
The eurozone has returned to recession as the region's debt crisis continues to hurt demand, figures show.

The economy of the 17-nation bloc contracted by 0.1% between July and September, after shrinking 0.2% in the previous three months, Eurostat said.

The eurozone was last in recession in 2009, when the economy contracted for five consecutive quarters.

The news comes a day after millions of workers in Europe held a day of action against austerity measures.

Protests in Spain, Italy and Portugal were marred by violence.

Read more here from the BBC
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Richard Myers

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Re: Eurozone returns to Recession
« Reply #1 on: November 20, 2012, 12:04:26 AM »
Recession is an interesting economic term, as is depression. Strictly speaking in economic terms, a recession is when there are two consecutive quarters of negative Gross Domestic Product (GDP).  But, from a practical point of view, we cannot live with that. If the economy stalls and there is a slight decrease in GDP for two quarters, that is one thing. But, when the economy fails as we see today, it makes no difference if there is or is not a negative GDP.  When you have unemployment at the high levels seen in the US and Europe today, it is a recession or better, a depression. Because there has been an increase in GDP does not mean that there are not more people losing jobs. And, it does not mean that there is adequate income to pay all the bills and to feed and clothe our families. No, the strict definition of recession has nothing to do with where the economy is at a particular point in time. When politics is added to the discussion, as corrupt as it is, you have to guess at correct statistics in most everything. Inflation is not accurate, GDP is not accurate, and worst of all, unemployment figures are bold faced lies. When the government quits counting people who have ceased actively looking for jobs as unemployed, you know there is a problem.

I hear intelligent men today saying that the economy runs in cycles and we are due for an upturn. That excludes what the Bible says about the end days. By ignoring Bible truth, many will err in prophesying what is going to happen in the future. Things will not always return to normal. The cycle will not always continue. No, the end is rushing upon us and the economy will not necessarily ever recover. Like the soldiers in foxholes, it may be time to ask God for help instead of looking to the economy to provide for our needs.

I am not a prophet nor the son of a prophet, but this I know. The leading men of the nations are attempting to set matters right so that the world will see economic prosperity. But, since God does not enter into their plans, they will not succeed. Jesus is coming very soon and the Bible says that the world will be as it was just before the world-wide flood in Noah's day. Some will be rich, but at the expense of the poor. There will be class warfare, union violence, and starvation in the world. No, we will not see the peace and prosperity that could have been. Europe will not maintain their loose unity, the Bible tell us so. Their rejection of the Bible and God will insure their failure to provide peace and economic security for their countries. Strife, war, and bloodshed, famine and pestilence are coming and men's hearts will fail them for fear. Our only safety will be in Christ.
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