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A Service of the Church of God Faithful Flock
Weekly News and Commentary - Week of March 23, 2008
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WORLD NEWS BULLETIN
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China has purchased advanced anti-ship cruise missiles from Russia, posing a major threat to U.S. aircraft carriers and other warships, the commander of U.S. forces in the Pacific said last week.
“It is of concern to us in the Pacific Command, principally because of People's Liberation Army, navy and air force developments,” said Adm. Tim Keating, the U.S. Pacific Command leader, including area denial weapons and anti- access weapons, like the Russian-made SSN-27 Sizzler missile.
Jason Steen isn't an obvious target for muggers. The 40-year-old heads his own company advising on mergers and acquisitions, and usually strides through life like a Master of the Universe. This evening, though, he looks shaken. Two days earlier, he was accosted outside his central London home by eight kids — the youngest was 11 — who punched him to the ground, hustled him to the nearest cash machine and forced him to reveal his PIN number. After a series of attacks in the area, local residents have gathered in Steen's apartment to talk to the policeman handling the case. His advice: "Don't go out unless you have to."
Staying home in the face of danger isn't the British way. After suicide bombings in July 2005, Londoners continued working and socializing. Yet a survey by kids' charity TS Rebel found that last year more than a fifth of Britons avoided going out at night rather than risk encounters with a different form of terror: groups of children. Britons are frightened of their own young.
 We know the credit crisis is a clear and present threat to the global economy. But its most important long-run legacy may not be economic, but geopolitical.
I was reminded of that possibility when reading a recent analysis by Professors Menzie Chinn at the University of Wisconsin and Jeffrey Frankel of Harvard*. They ran a simulation showing that the euro would replace the dollar as the world’s largest reserve currency within the next 10 or 15 years. Their analysis is not based on this crisis. But the crisis could easily accelerate the trends they have identified.
 AT&T has said it is struggling to find enough skilled staff to fill the 5,000 customer service jobs it is returning to the US from India, a report claims.
The comments were made by its chief executive Randall Stephenson, according to the Reuters news agency.
"We're having trouble finding the numbers that we need with the skills that are required," said Mr Stephenson.
 CLARENDON, Ark. (AP) -- Arkansans sandbagged their front doors and pumped out their flooded basements Wednesday as a historic crest on the White River moved downstream, and a flooding expert said the state will have to deal with high water for weeks.
1 of 3 Residents and county officials along the river's path in east-central Arkansas worried that the river flows would hit an already swollen Mississippi River on the state's eastern border and flow back into their cotton and wheat fields.
Long considered an abundant, reliable and relatively cheap source of energy, coal is suddenly in short supply and high demand worldwide.
An untimely confluence of bad weather, flawed energy policies, low stockpiles and voracious growth in Asia's appetite has driven international spot prices of coal up by 50 percent or more in the past five months, surpassing the escalation in oil prices.
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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Daily news of great interest will be shown here with links to the page that details the items. We are always looking for ways to improve our service. Please let us know how we can improve. Also any editorial commentary that you would like to post on this site can be sent to this email: Editorial Comment for review and approval.
Picture of the Week
Sunset: Planet Earth
Today, the Sun crosses the celestial equator heading north at 0548 UT. Known as the equinox, the geocentric astronomical event marks the first day of spring in the northern hemisphere and autumn in the south. Equinox means equal night and with the Sun on the celestial equator, Earth dwellers will experience nearly 12 hours of daylight and 12 hours of darkness. Of course, for those in the north, the days will grow longer with the Sun marching higher in the sky as summer approaches. To celebrate the equinox, consider this colorful view of the setting Sun. Recorded last June from the International Space Station, the Sun's limb still peeks above the distant horizon as seen from Earth orbit. Clouds appear in silhouette as the sunlight is reddened by dust in the dense lower atmosphere. Molecules in the more tenuous upper atmosphere are preferentially scattering blue light.
How would he pull it off? I wondered.
How would Barack explain to his press groupies why he sat silent in a pew for 20 years as the Rev. Jeremiah Wright delivered racist rants against white America for our maligning of Fidel and Gadhafi, and inventing AIDS to infect and kill black people?
How would he justify not walking out as Wright spewed his venom about “the U.S. of K.K.K. America,” and howled, “God damn America!”
Editorial 2
March 21, 2008
By Patrick J. Buchanan
http://buchanan.org/
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HANOI — Rising prices and a growing fear of scarcity have prompted some of the world’s largest rice producers to announce drastic limits on the amount of rice they export.
The price of rice, a staple in the diets of nearly half the world’s population, has almost doubled on international markets in the last three months. That has pinched the budgets of millions of poor Asians and raised fears of civil unrest.
Shortages and high prices for all kinds of food have caused tensions and even violence around the world in recent months. Since January, thousands of troops have been deployed in Pakistan to guard trucks carrying wheat and flour. Protests have erupted in Indonesia over soybean shortages, and China has put price controls on cooking oil, grain, meat, milk and eggs.
LITTLE ROCK, Ark. (AP) — Empty grain elevators surrounded by a swollen White River await a harvest that may never come as floodwaters drown wheat already planted this spring.
Last year, Arkansas produced about 28.7 million bushels of wheat. Now, muddy waters have run through fields for days, taking with it expensive fertilizer treatments already applied to the soil.
Some of the wheat, green this time of year and looking like tall grass, has survived, wheat expert Jason Kelley, of the University of Arkansas Cooperative Extension Service, said Thursday. But grain under water for a week or more likely won't make it.
Bear Stearns gets Fed backed bailout, a debacle for the investment community, Fed resorts to Depression era tactics to soak up the toxic waste of bad paper, a private Fed is behind all the market problems, we have been in a recession hidden by a pumped-up money supply, fiat money now the drug of choice everywhere
The crux of the dilemma now facing the elites and their precious central banking and gold suppression cartels is that while there are loads of financial institutions that are too big to fail, the worldwide financial system, which includes those institutions, has become too big to bail. Keep a sharp eye on which of the many potentially troubled institutions get bailed out by the Fed. The Fed's cherry picking will reveal the identities of their fellow elite insiders within the various components of the financial industry, such as banks, investment banks, broker-dealers, pension plans, insurance companies, hedge funds, etc. They will be forced to reveal these insiders because they, and all the remaining central banks around the world, are not even close to being big enough to bail out the entire system. They will only be able to bail out their crucial insiders within the troubled financial system, if they are lucky. Bear Stearns was a primary US government bond broker and was greatly intertwined with many other institutions in the system in terms of counter-party exposure. This meant a potential thermonuclear chain reaction of failures if Bear Stearns went down, thus threatening the entire system. That is why they were saved from bankruptcy after they had a run on their assets by lenders and investors, including two huge hedge funds that literally bled them dry, and is why the Fed intervened for the first time since the depression era for an investment banker which is a non-depository financial institution outside of the Federal Reserve banking system.
 KENNER, La. — The cake had been served and the children were jumping up and down in a big, inflatable castle when the birthday party turned to bedlam.
Clarence McGraw's jaw dropped as he saw the visitors coming, guns drawn. The screaming began.
Children ran everywhere in the courtyard of the low-income apartment complex; adults fell to the ground. Bullets flew. The killers wounded three youngsters, but for reasons police can't explain, it was 19-year-old McGraw they were after.
 Editorial
"I think the magic is over." That's what French Foreign Minister Bernard Kouchner recently said about the United States' global reputation.
It's never been a great idea to rely on the assessments of French politicians, but the daily news coming out of the U.S. — in terms of our image overseas and beyond — does indeed seem bleak.
Oil has climbed over $100 a barrel. Gas is nearing $4 a gallon. Gold is at $1,000 an ounce — a telltale sign the public is losing trust in paper money, stocks and bonds.
Housing prices still slump. Foreclosures are on the rise. The huge Wall Street firm Bear Stearns nearly collapsed before being bought out for a fraction of its former worth.
Seven years ago, the Euro was worth about 90 cents. Now it's soared past $1.50. Staples like wheat and corn cost more than at anytime in our history. Foreign creditors hold $12 trillion in U.S. government securities, the result of decades of staggering trade deficits.
Biblical Perspective
Have you ever wondered why, if there really was a world wide flood, would a God of Love destroy his own creation? Here is a 30 minute audio presentation that explains what happened and why.
Presented by Herbert W. Armstrong from the World Tomorrow Radio and TV Broadcast.
The Booklet Below is offered in the audio presentation above.
Just what is death? Is there a resurrection? Do the dead know what the living are doing? Is suicide unforgivable? Where will you meet loved ones again? Why does God allow Christians to die? Does death ever come as punishment? What if one dies being unconverted? Is he lost forever? Here are the answers to these questions from God's inspired
Word.
 Health Alert
 Before I share a great little tip on how to stop a sore throat from progressing into a week-long cold, please know that periodically experiencing a cold or the flu can actually be helpful to your health. If you have no idea why this is, please view the following popular article that I wrote on this topic:
You just won't get this information on why colds and flus can help you stay healthy over the long run from medical textbooks and mainstream media - please consider sharing it with family and friends.
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Why Noah’s Flood
After Death