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A Service of the Church of God Faithful Flock
Weekly News and Commentary - Week of March 16, 2008
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WORLD NEWS BULLETIN
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 A series of earthquakes of up to 7.2 magnitude rocked western China Friday but reports of damage were not immediately available.
The U.S. Geological Survey said the quakes were felt in the Xinjiang-Xizang region, east-north-east from India and Pakistan.
Xinhua news agency, quoting the Chinese Seismological Network which uses the Richter measurement, reported four quakes Friday morning initially rocked the Kunlun Mountain region with the strongest measuring 7.3 on the Richter. The report said a subsequent fifth quake was detected in Yutian County in southwest China's Xinjiang Uygur region.
 There is a time when everything in a moment of history coalesces or intersects as I have stated in the past. For purposes of discussion of the U.S. financial system and much of the markets, I think we have arrived or on the precipice of another such moment. The American financial system has been the subject of jolt after jolt, shock after shock and now a final retreat from another phony rally, thanks to more suspect data points which did nothing but confirm the suspicions of the investing public, and by public I mean the rest of the world (most American sheeple just “trust” their 401K plan adviser at work), finally say “the hell with it” and walk away. The data released this month might finally have convinced darned near everyone to just leave in disgust. Why and how is this moment upon us and quite possibly exploding on the scene today or over the next couple of weeks? Let’s take a tour of perception versus reality with a chart or two and the impact of the law of gravity on an airplane or a bird when the wings are removed.
“There’s a sucker born every minute”
 WELLINGTON: The current financial crisis is the worst the world has seen since the Great Depression of the 1930s and the US Federal Reserve move to cut interest rates will not make much difference, the Nobel Prize winning economist Joseph Stiglitz said on Wednesday.
"It will have some impact - it will do a little bit to stem the blood - but it's not addressing the fundamental problems underlying the collapse of the financial sector," Joseph said.
URICH (AFP) - The world's glaciers are melting at an alarming rate, calling for immediate action to prevent further constraints on water resources for large populations, UN data released Sunday showed.
"Millions if not billions of people depend directly or indirectly on these natural water storage facilities for drinking water, agriculture, industry and power generation during key parts of the year," said Achim Steiner, executive director of the United Nations Environment Programme (UNEP).
 American families, already pinched by soaring energy costs, are taking another big hit to household budgets as food prices increase at the fastest rate since 1990.
After nearly two decades of low food inflation, prices for staples such as bread, milk, eggs, and flour are rising sharply, surging in the past year at double-digit rates, according to the Labor Department. Milk prices, for example, increased 26 percent over the year. Egg prices jumped 40 percent.
 The bodies of the eight Jewish seminarians were draped in prayer shawls and laid out in unvarnished wood coffins. Each was buried with a Torah scroll stained in blood from the Thursday night rampage at their seminary where a young Palestinian, armed with a semi-automatic rifle and two pistols opened fire on 80 students, most of them teenagers, trapped in a library.
Four years had passed in Jerusalem without a major terrorist attack, and its citizens had permitted themselves the luxury of thinking they were safe. Jerusalemites believed they were protected by the security wall, which separates them from the Palestinians, and by an intelligence apparatus that had cracked apart dozens of terrorist cells in the West Bank. But that illusion was demolished when a Palestinian youth, identified by police as Ala al-Din Abu Dhaim, fired more than 500 bullets at the young students gathered for a celebratory feast.
March 07, 2008
By TIM MCGIRK/JERUSALEM
http://time.com
 IPanic swept the credit markets on reports of an insolvency crunch at both the US investment bank Bear Stearns and the mortgage giant Fannie Mae, triggering a dramatic surge in default insurance and rumours of yet another emergency rate cut by the US Federal Reserve.
Financial shares plummeted on Wall Street in another day of wild trading as the markets began to fear that the $200bn (£100bn) life-line pledged by the Fed last Friday would not be enough to halt a vicious downward spiral.
The US trade deficit has widened as the high cost of oil offset a rise in exports, official figures show.
The deficit was 0.6% larger at $58.2bn (£28.9bn) in January, after the cost of oil imports hit a record $84 dollars a barrel, the Commerce Department said.
The growing trade deficit with China, which has been the cause of much political tension, widened by 8.1%.
 VIENNA, Austria (AP) -- Oil prices steadied Wednesday after briefly rising to a record of almost $110 a barrel, supported by weakening of the U.S. dollar.
Traders were awaiting the release of data later Wednesday on U.S. petroleum inventories. Analysts surveyed by Dow Jones Newswires were expecting an increase.
World News Bulletin is dedicated to bringing you up todate news from around the world with a Biblical Perspective and Focus. We strive to bring the why behind the news from the standpoint of Bible Prophecy.
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Picture of the Week
Endeavour to Orbit
Birds don't fly as high. Airplanes don't go as fast. The Statue of Liberty weighs less. No species other than human can even comprehend what is going on, nor could any human just a millennium ago. The launch of a rocket bound for space is an event that inspires awe and challenges description. The exhaust column pictured is from the Space Shuttle Endeavour after last week's night launch to visit the International Space Station. Endeavour's rocket engines create the dramatic glow from above the clouds. From a standing start, the two million kilogram rocket ship left to circle the Earth where the outside air is too thin to breathe and where there is little noticeable onboard gravity. Rockets bound for space are now launched from somewhere on Earth about once a week.
The think-tank, Theos, has found that most of those who say they are Christians do not practise their religion.
And as the country's supermarkets fill up with chocolate eggs, it appears that many do not believe in the fundamentals of the Easter story.
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 DUTCHTOWN, Missouri (AP) -- Flood-weary residents in Missouri, Arkansas and Ohio fought to save their homes Friday after heavy rainstorms pushed swollen rivers out of their banks, and a fresh snowstorm blew through parts of the Upper Midwest, canceling flights and some Good Friday services.
Along the Meramec River in eastern Missouri, residents of Valley Park hoped the town's $49 million earthen levee, built in 2005 to withstand a 100-year flood, would pass its first big test. The surging Meramec was expected to crest at a record 40 feet Saturday -- 24 feet above flood stage.
March 21, 2008
http://www.cnn.com/
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People have been forced to abandon homes and businesses
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At least 13 people have died and hundreds of homes have been evacuated as a result of rains and floods in the central United States.
Three days of heavy rain have prompted the National Weather Service to issue flood and flash flood warnings from Texas to Pennsylvania.
Worst hit are Missouri, Arkansas, Illinois, Ohio and Kentucky, with about 30cm (12 inches) of rain in some areas.
The global economy is like an oversized bubble and with the cheap dollar and expensive assets threatening to burst it, everyone may be hit.
MOSCOW. (RIA Novosti economic commentator Yelena Zagorodnyaya) - The U.S. dollar has made headlines around the world because of new record low exchange rates reported in New York, London and Tokyo. At the same time, oil, gold, metal and food prices are skyrocketing.
One must not be fooled by Russian analysts' optimistic reports of new records for oil prices and jeering comments about the economic problems of the United States and the declining dollar. The global economy is like an oversized bubble and with the cheap dollar and expensive assets threatening to burst it, everyone may be hit.
On March 17, the dollar registered its lowest exchange rate since the euro started trading in 1999 - $1.59 per euro, the lowest exchange rate against the Japanese yen in the past 13 years - $1 per 95.7 yen, and the lowest rate against the ruble in eight years - 23.44 rubles per $1.
ATLANTA (Reuters) - A tornado in northwest Georgia killed two people and left others seriously injured on Saturday, one day after a twister battered Atlanta's downtown, officials said.
One person died in Polk county and a second died in Floyd county, said Buzz Weiss of the Georgia Emergency Management Agency. Both counties are on Georgia's border with Alabama.
CHICAGO (Reuters) - Containing an influenza pandemic in a large U.S. city like Chicago would require widespread school closings, quarantines of infected households and bans on public gatherings, U.S. researchers said on Monday.
But, if done quickly and well, such steps could reduce infections by as much as 80 percent, said researcher Stephen Eubank of Virginia Tech in Blacksburg, Virginia, based on a computer simulation of just such an event
 LAKE MEAD, Nevada (AP) -- On this brisk, glittering morning, a flat-bottomed boat glides across the massive reservoir that provides Las Vegas its drinking water. An ominous rumble growls beneath the craft as its two long, electrified claws extend into the depths.
Moments later, dozens of stunned fish float to the surface.
Federal scientists scoop them up and transfer them into 50-quart Coleman ice chests for transport to a makeshift lab on the dusty lakeshore.
 Financial Alert
ABOLISH THE FEDERAL RESERVE and Bernanke
Jim Rogers on CNBC
Somebody at CNBC was asleep at the switch, or the kill button anyway. Because you never hear such talk over the corporate media, an entity owned by the same banking and financial interests that prop op the Fed and the funny money system.
 Editorial
Strategic Relationships
I want to warn Americans. As a people, you are very naïve about Russia and its intentions. You believe because the Soviet Union no longer exists, Russia now is your friend. It isn’t, and I can show you how the SVR is trying to destroy the U.S. even today and even more than the KGB did during the Cold War.” Sergei Tretyakov, KGB/SVR defector
If you read the news from day to day you will notice a gradual shift in the strategic balance. This year’s headlines are as representative as those found in previous years. Perhaps you’ve read about joint military exercises involving South Africa and Russia, South Africa and China, or North Korea acquiring uranium from Congo. Perhaps you noted the Communist victory in the Angolan Civil War. Maybe you’ve caught a glimpse of Europe’s growing anti-Americanism, or noticed stories about Russian weapons reaching insurgents in Iraq. How about a recent headline stating that “Germany wants a new strategic Partnership with Russia”?
We’re not supposed to worry about such things. We’re supposed to shop, that is, before the dollar sinks out of sight and the shopping mall regime ingloriously ends. What then? The Germans want a strategic partnership with Russia. This is perfectly logical. Germany needs Russia because Germany wants to feel safe, and Germany wants to be warm in the winter; and Russia needs Germany, right? It is now suggested that the European Union enter into special negotiations with Russia.
by J. R. Nyquist
03.07.2008
http://www.financialsense.com/
 WORLD MILITARY MANEUVERING
from a Biblical Perspective Blog
Biblical Perspective
 You live in a world of awesome progress, but paradoxically, of appalling evils. WHY? It's a world held captive, deceived into loving its captivity. Deliverance from kidnap in deception, human discontent, suffering and death hastens nearer.
World peace, happiness and joy are just around the corner.
THE NEWS has been replete with stories of kidnappings and aircraft hijackings. Bizarre among them was the Patty Hearst kidnapping, in which the victim was brainwashed into preferring the criminal life of the kidnappers to the respectable status of her parents. Happily, Patty's mind later became cleared of the delusion.
But most astonishing of all is the actual fact of the colossal kidnapping of all time-in which the captive for 6,000 years has willed to pursue the life and evil philosophy of the arch kidnapper -- Satan the devil. The willing victim in this case is the world that inhabits this planet earth! Yet this world has been so completely deceived that it cannot realize what actually has happened to it.
In this 20th century a world of awesome progress and material development is so blinded by the deceptions of the super kidnapper that it cannot understand the paradoxical fact that its progress is accompanied with appalling and still escalating evils, which are inflicting indescribable suffering, frustration and death.
Health Alert
 Victoria Inness-Brown’s family was addicted to diet soda. After researching the effects of aspartame, she strongly believed the artificial sweetener might one day lead to their illness or even their early deaths.
So she decided to perform her own aspartame experiment -- with 108 rats for 2 years and 8 months. Daily, she fed some of the rats the equivalent, for their body weight, of two-thirds the aspartame contained in 8-oz of diet soda.
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Britons losing religious beliefs
Video Coverage of the Damage
Two dead as fresh storms spawn tornado near Atlanta
