Faith in Rescue Ebbs

Today's Wall Street Journal has this as the number 1 headline;

Europe's Crisis Widens
Italy, Spain See Bonds Sink, Portugal Faces Rating Cut as Faith in Rescue Ebbs

Investors dismissed European leaders' latest attempt to restore market calm, raising doubts about whether governments can rebuild confidence in the region's common currency amid signs that the debt crisis is creeping deeper into the Continent.

The euro fell to a 10-week low, and was below $1.30 in late New York trading. Bond markets across Europe's vulnerable fringe sank, as the "risk premium" investors demand for lending to Spain and Italy hit record highs. Standard & Poor's said after European markets closed it is considering a downgrade on Portugal's credit rating, citing economic pressures and increased risks to the government's creditworthiness.

Some observers say the euro zone will eventually have to choose between unraveling or creating a deeper union that includes financial transfers from strong countries to weaker ones. But creating the central budget authority that the euro-zone now lacks would be a hard sell in countries such as Germany that would have to foot the bill.

See it here; http://online.wsj.com/article/SB10001424052748703994904575647073671547454.html

The "faith" in paper money and man-made schemes seems to be teetering. Should that surprise us? The Bible tells us to, "Have faith in God alone." What percentage of the Western World does that...or even believes it is remotely true? I'm guessing less than one percent.

Biblical history shows us that we can only ignore God for so long before we are so far off course that He finally comes down and says, "Enough!"

Could we be close to that day? One thing for sure...we are a lot closer to that day than most earthlings know.