The Doom of Babylon is Announced, Revelation Chapter 18 Verses 1-3 (NASB)

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    After these things
This phrase is used to denote a distinct vision. While it may be related to the previous vision, this vision will have its own characteristics. That is, in chapter 17, we saw the collapse of the pseudoreligious empire (of Babylon). In this chapter, we will see the conclusion of the destruction of Babylon, but in particular, we will see the political and economic empire(s) collapse. Note how the vision changes the other times in Revelation that "After these things" is used (Revelation 4:1 , 7:9 , 15:5 , and 19:1 ).
    I saw another ANGEL coming down from HEAVEN,
This is another ANGEL like the seven angels who carried the seven plagues (Revelation 15:5 -6 and Revelation 17:1 ). This ANGEL, too, was a 'presence angel' coming from the temple in heaven.

Some scholars suggest this may be Christ himself and use John 8:12-20 to support their argument. Given the precision of Revelation throughout, it is not likely that Christ would be denoted as an ANGEL here. There is no argument that Christ has GREAT (GREATEST, actually) AUTHORITY and could easily fill the earth with His GLORY. But here this part of the vision is given to an ANGEL.

    1)  having GREAT AUTHORITY, and
Scripture says little about the AUTHORITY given to angels. Probably because of the "bad experience" with Lucifer, scripture downplays this side of angeldom. We know that some powerful angels are given control over physical phenomena (see discussion in Revelation 16:5). This angel compliments these other strong angels as the "angel of GLORY(light)".

Those who believe this may be Christ find support in John 5:25-27-29 and Acts 10:34-42-43 .

    2)  and the earth was illumined with his GLORY.
This ANGEL must have come from the presence of God and His unapproachable light (1 Timothy 6:11-16). While this is not a common phenomena, Moses glowed with God's GLORY after having spent time in God's presence (Exodus 34:29-35). One could argue that we don't see this GLORY today because we spend so little time in God's presence (or maybe we are selfish and don't want to). Finally, after a world of darkness (the fifth bowl - Revelation 16:10 ), the brilliance of this GLORY must be shocking. Most importantly from a spiritual viewpoint, this is a DIRECT CONFRONTATION of one ANGEL of GLORY(Light) against the 'disguised angel of light' (2 Corinthians 11:7-14-15) who is behind this Babylonian empire(s).
    And he cried out with a mighty voice, saying,
This is not prideful bluster but a mighty voice of a 'presence' angel speaking with GREAT AUTHORITY (previous verse).
    "FALLEN, FALLEN IS BABYLON THE GREAT!
This angel proclaims the collapse of the socioeconomic order even as the 7 puppet leaders have just subdued any "organized" religion (Revelation 17:16). Only worship of the antiChrist/devil is permitted at this time.

E. W. Bullinger in "Commentary on Revelation" explains that the "FALLEN" may take longer than seven years. That is, the complete destruction of the socioeconomic order may precede or succeed the 7 years Tribulation period.  Even in the Old Testament the time span for the demise of Babylon is indeterminate (Jeremiah 51:1-8-10).

    She has become
    (1)  a dwelling place of DEMONS and
These 3 points confirm this "FALLEN" is primarily a collapse within the evil spirit world. Ever since the seven bowl plagues came out of the temple in heaven (Revelation 15:6), the emphasis in Revelation is on the dissolution of evil on this earth. Implied in this is that the socioeconomic system is riddled with demon possessed persons.

Contrast this with the believer's dwelling (Ephesians 2:19-22).

    (2)  a prison of every UNCLEAN SPIRIT, and
The politicians and businessmen cannot free themselves either from the mark of the beast, which they need to do business (Revelation 13:17) or these UNCLEAN SPIRITS.
    (3)  a prison of every UNCLEAN and HATEFUL BIRD.
According to Revelation 19:17 and 18 , the very being of these political, military, and business leaders will be consumed by these BIRDS (the evil one). Jesus, himself, referred to these BIRDS as the 'evil one' (Matthew 13:1-9,18-23). Isaiah 13:17-21-22 names these birds as owls and ostriches (silent flyers and cantankerous nonflyers). These socioeconomic leaders are in prison with these BIRDS. Its an imprisonment of evil with a touch of deceit (Jeremiah 5:20-27-29).
    "For ALL the NATIONS have drunk of the wine of the PASSION of her IMMORALITY, and
This is "ALL the NATIONS" from the beginning of Babylon (Babel - Genesis 11:1-6-9) until the last days. The United States of America and all nations of our present world are included in this "ALL the NATIONS". It is interesting to note that Babylon has gone full circle. That is, the reason the tower of Babel was built was to signify the unity of the "nation". Instead, with God's intervention, the unity was thrown into chaos and many nations and languages were birthed. In the last days, the beast will seek and, in his mind, achieve unity under his leadership. One gets the sense that God will permit this coalition to form to make the destruction of Babylon complete once for all time (verse 21). As an aside, the Jewish nation by covenant (Genesis 17:1-7-8) will last forever. That is not to say they are not part of the "ALL" for they, too, have participated (many times as you read the Old Testament prophets) in the PASSION.  The Jewish nation, apparently, will not be destroyed  when Babylon is.

One cannot help but think Zechariah 5:5-11 is talking about the last days with "wickedness" being resident in Babylon when the house is completed. That implies that the city of Babylon will be reconstructed physically and become the capital of the world. To that end, Saddam Hussein had spent over a billion dollars* on rebuilding el Hillah which is considered to be built on or near the site of ancient Babylon  The majority of this city's construction materials come from the ancient ruins.

    the KINGS of the earth have committed ACTS OF IMMORALITY with her, and
It is interesting how we classify these ACTS OF IMMORALITY as being equal to being a "good politician". That is, all kings/leaders of the world have learned their lessons well otherwise they would not be in office (Psalm 2).

ACTS OF IMMORALITY in a spiritual sense is the deliberate infidelity to and forsaking of the true God for false gods. This is, in fact, the definition of idolatry. See how Elijah describes this about Jehoram (2 Chronicles 21:11-15).

    the MERCHANTS of the earth have become RICH by the WEALTH of her SENSUALITY."
If we think that business and politics are not together, then this verse doesn't have meaning. Just watch how the equity and commodity market moves are "blamed" on political policy. The RICHest MERCHANTS are those who understand her SENSUALITY the best (James 5:1-5). Of course, becoming RICH is as the MERCHANTS perceive it. Luke 12:13-15-21 presents a different perspective.

This portion of Revelation Chapter 18 is the clearest indication that we are dealing with the political and economic environments of the last days. Chapter 17 deals with the pseudoreligious system and its destruction.
*Tim LaHaye, "Revelation Unveiled", p. 283
"Scripture taken from the NEW AMERICAN STANDARD BIBLE®, © Copyright The Lockman Foundation, 1960, 1962, 1963, 1968, 1971, 1972, 1973, 1975, 1977, 1995 Used by permission."

References to the Revelation of Jesus Christ are in bold italics. All other references are in bold only