The Economy, Oil Prices, and the Middle East


LISTEN NOW! The year of 2016 is starting off with significant events, to say the least. According to CNN, the Stock Market has just completed a difficult year, “U.S. markets finished 2015 mostly in the red: The Dow was down 2.2%. The S&P 500 ended the year down 0.7%. It was the worst year for those two indexes since markets collapsed in 2008.”Another factor adding to the economic woes is the Federal Reserve’s increase in interest rates. Economic hardships are not only being experienced in the West, but also in the Middle East as well.
 
Contrary to having the largest stockpile of oil reserves, Saudi Arabia has just increased its cost of gas by 50%. In a more intimate understanding of Saudi Arabia’s economic situation, CNN shares “about 75% of the Saudi government’s budget comes from oil.” In addition to the increase of gas prices comes the loss of many perks handed out by the government. CNN reveals quite a staggering list; “Heavily subsidized gas, Free health care, Free schooling, Subsidized water and electricity, No income tax, Public pensions…”
 

Economies are shaking and tensions are rising throughout the world. Be encouraged as you are reminded that regardless of the shakings in the world, the Kingdom of God does not move, and so much more. Also shared in this segment: oil reserves, government employees, economy, and Federal Reserve. John and Steve shared in this segment.
Courtesy of Matthias Pahl/Shutterstock.com


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