Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"
“Against all odds, the frameworks of the world’s economic, political, and social systems are being shaken and are beginning to crumble.”
-Jim Bakker in “Prosperity and the Coming Apocalypse”
Ratings agency Fitch announced that it has made major downgrades to Argentina because they believe the nation is rapidly heading into default.
The nation’s long-term credit rating fell 5 notches from B to CC and the short term rating from B to C. C is the lowest rating a country can fall before they go into economic default.
Argentina is in the midst of a deepening recession. The country defaulted on its debt in 2002 and entered into a restructuring plan that Argentinian politicians have said put the country back on a path to growth. However, A US judge in New York ordered the nation to set aside $1.3 billion for certain investors by December 15th.
The nation is appealing the ruling.
The report from Finch contradicts the statements of Argentinian officials saying the nation is plagued by “high inflation, weak infrastructure and currency.” The two other major ratings agencies both have Argentina 5 steps above default status with negative outlooks.
