Rev 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!"
<blockquote>“…one day soon, our entire economic system is going to fail. When it fails, only those things that have been done for Christ will have any real value.”
<p style="text-align: right;">-Jim Bakker in “Prosperity and the Coming Apocalypse”</p>
</blockquote>
In a major blow to Spain’s economy, ratings group Standard & Poor’s lowered the country’s credit rating to BBB-, one level above junk status, warning that other downgrades were possible.
The country is expected to be asking for a bailout in the midst of drastic spending cuts, tax increases and youth unemployment over 50%.
“The downgrade reflects our view of mounting risk to Spain’s public finances, due to rising economic and political pressures,” S&P said in a statement. “The deepening economic recession is limiting the Spanish government’s policy options.”
Government officials are continuing to publicly deny they need a bailout in spite of reports that the country’s debt levels will reach 90% of their total economic output.
“Spain does not need a bailout at all,” Economy Minister Luis de Guindos.
