News and Prophecy Staff

Three months of flooding across the nation has left more than 500 dead and one-quarter of Thailand’s 76 provinces still feeling the effects of flood waters. For three weeks, much of the nation’s capital, Bangkok, has been submerged under waist-deep water.  The sad part is that the water has nowhere to go and is predicted to remain for several more weeks.

Currently, the Australian dollar is relatively strong on the world currency markets.  However, Australia’s increasing reliance on exports to China concerns some experts. In recent years, Chinese companies have been hoarding metals—especially copper—to use as collateral.  With the slumping value of copper, Australian exports to China are predicted to drop drastically, which will negatively affect the Australian dollar (Money and Markets, October 22, 2011).

Saturday, November 5, Oklahoma was hit by the largest earthquake on record in the state—a quake of 5.6 magnitude.  While the quake did little damage, it scared many people who are used to tornados, but not earthquakes.  The quake was felt as far away as Washington, DC, and South Carolina—1,000 miles away (Reuters, November 6, 2011).

A recent report by the Vatican’s Pontifical Council for Justice and Peace proposes the “establishment of a supranational authority to oversee the global economy” (New York Times, October 24, 2011).

When 27 EU leaders met in Brussels last week to discuss how to save their common currency, the ten non-members of the eurozone (including Britain, Denmark and Poland) were asked to leave the eight-hour meeting that followed a reception!