Will the EU keep all its members through the summer? That is the question the markets are asking? Greece, Italy, and Spain all have systemic problems that won’t be solved by taking the path of austerity. The people won’t allow it. Even though the mainstream media in the U.S. does not provide much coverage of the situation, thankfully the Internet allows the flow of information to reach our shores. In Spain, the workers 25 years old and under have an unemployment rate of over 50%. In Greece, some families are putting children up for adoption because they have no means to support them. Depositors have begun taking their money out of the banks in these countries at an increasing rate. Moody’s Rating Service has responded by downgrading several Spanish banks on Thursday evening. See http://www.spiegel.de/international/europe/fears-of-bank-runs-increase-in-europe-a-833879.html
The smart money started moving a major portion of deposits out of the banks months’ ago. Now, the average depositor perceives the risk as well. This is an indication that a change is near. None of the countries are willing to suffer through a self-imposed austerity program to deal with decades of deficits.
Let’s consider the reality. Man does not know how to manage an economy and eliminate contractions. Moving to a fiat money system forty-one years ago was a test. For one generation it looked like a good idea. The future generations will look back and wonder what were those in power thinking? Just as in the Book of Judges where the children of Israel would get delivered from their enemies and do right in their own eyes afterward, the current society is doing the same thing in parallel. Each time the children of Israel would return to lawlessness a short time after their deliverance. Today is no different except that we have Jesus Christ as the Door into Kingdom Economics. Once we have been restored to Our Heavenly Father through Christ, we have access to successful principles of Economics that will work for all mankind. Why? It is designed with the intent of Love rather than greed. When Love abounds, new inventions are embraced and help all mankind. When greed is the primary motivator, the current mess is the result. Eyes will soon be opened to the difference. Mankind will be presented with the Kingdom-based Economic system. I believe they will respond.