Europe has eclipsed the US in stock market value for the first time since the first world war in another sign of the slipping of the global dominance of American capital markets.
I know I haven't posted in quite some time. And its not because there's been a lack of world events to report or comment on. I've got some other projects in the works as well as have to maintain that whole "job" thing. The family likes to eat!
As far as major world news, really, though, it has been "more of the same". Peace talks in the Middle East, War in Iraq, Iranian Conflict, Lebanon/Syria war build up against Israel, ... and so on. In a nutshell, I think Ezekiel's prophetic war is coming and soon.
But what compelled me to post today was this news of Europe topping the US in the Stock Market. I picked it up off of a small one-line headline off the Drudge Report. It was low on the page with no accompanying graphics or bold faced type. Almost a casual "oh by the way" mention. Yet, I find this to be quite significant. You see, in "this" world, you can still use the "follow the money" principle. Yes, it is God and His Word that have layed out the course of all humanity, and every word of prophecy will be fulfilled according to His plan and in His perfect timing. But confined within these boundaries is still the "freewill" acts of man. And men, those who do not serve the One True God, will serve something, and money always seems to be that alternative "god". So if what this headline shows is a global shift in economical power, then what will follow will be a major, major shift in all that follows. The financial power will be the head, and the rest of the "body" will follow. And if Europe becomes that head, who are its leaders, and what will be its policy? Well, from what we've seen reported on the global initiatives of the European Union and the Alliance of Civilizations, we will witness and end time biblical scenario like never before. And in that scenario, one of the biggest questions has always been, what about America in end time prophecy? Why is not the world's largest superpower not prophecied about? Some think it is, as do I. And its not the world's largest superpower.
Now back to the headline...
The rise of the euro against the dollar, growth of east European markets such as Russia and stock market outperformance spurred by improving profitability have seen Europe close a long-held gap with the US. Ian Harnett at Absolute Strategy Research, who identified the move, said this marked a “seismic shift” in markets.
The last time Europe eclipsed the US in market capitalisation was likely to have been before the first world war, said Mike Staunton, stock-market historian at London Business School. The shift mirrors a trend in the debt world, where European activity has caught up, and in some cases overtaken the US.