“I will break the pride of your power” (Leviticus 26:19)
Here are a couple of USA-related financial news updates:
June 21, 2012
US Stock Market Falls Off a Cliff
The Dow plunged on Thursday, posting its second worst day of 2012 — and traders say it’s due to a slew of ‘horrible’ news…The Dow started sinking after the Philadelphia branch of the Federal Reserve reported a manufacturing slowdown resulting from a steep drop in companies’ orders. Then the losses just accelerated…All this unfolded a day after the Federal Reserve slashed its estimates for U.S. economic growth and said it would extend a bond-buying program through the end of the year. The moves disappointed investors who had hoped for bolder steps from the central bank to get the economy going again. http://www.huffingtonpost.com/2012/06/21/us-stocks-worst-day_n_1616785.html?icid=maing-grid10%7Chtmlws-main-bb%7Cdl1%7Csec1_lnk2%26pLid%3D172112
Moody’s cuts credit ratings on 15 major banksLos Angeles Times - 21 June 2012Moody’s Investors Service lowered the credit ratings of 15 the world’s largest banks late Thursday, including Bank of America, JPMorgan Chase and Goldman Sachs, saying their long-term prospects for profitability and growth are shrinking…The downgrades mean Moody’s is more concerned about the ability of the banks to repay their debts. http://www.latimes.com/news/la-fiw-moodys-downgrade-06212012,0,1235973.story
Moody’s has been slower to cut credit ratings than I would think is prudent, but finally they are doing more of that.
It seemed to me yesterday that the USA ‘s stock market might drop today based upon the fact that the Federal Reserve has somewhat artificially supported the USA stock market and that the actions it announced yesterday did not have the type of support (read increase of the money supply, decrease on the value of the USA dollar in the long run) that the stock market hoped for. There was also a nationally-syndicated article in the local newspaper hinting that stocks might drop and perhaps that was also a factor (as well as other news items that were reported today).
The Bible warns that the pride of power will be broken (Leviticus 26:19), and for the USA this apparently is not only referring to its military might, but its economic pride. Now as I have been saying, the USA dollar will NOT totally collapse (become worth a small fraction of its purchasing value) until shortly before the start of the Great Tribulation (Jeremiah 30:7; Matthew 24:21).
The USA expects to end 2012 with a debt near over $16 trillion dollars. That is roughly $52,000 per citizen, $145,000 per taxpayer. And if you include all other future obligations, it is much, much worse.
The USA is the most indebted nation of all time and the UK is one of the most indebted per capita. Yet the politicians (in the USA and UK) and the Federal Reserve seem to be on a course to continue to increase the debt and money-supply (essentially an under-hand way of increasing debt without counting it so much).
Notice the following prophecic warning from the Bible:
3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 6 “Will not all these take up a proverb against him, And a taunting riddle against him, and say, ‘Woe to him who increases What is not his–how long? And to him who loads himself with many pledges’? 7 Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. 8 Because you have plundered many nations, All the remnant of the people shall plunder you (Habakkuk 2:3,5,6-8).
According to Bible prophecy, the end of the Anglo-dominance of the world is coming, and the final age of the Gentiles will be here in a relatively few years. The debt and other financial issues in the USA are indicators that not too many more years are left before the start of the Great Tribulation.
It is not the rest of the world will not have their own issues, it just is that since they generally have not quite followed the USA, UK and others into the debt creation machine to the same degree, they completely will fall apart later than the USA and UK does.
To learn more, please check out the following articles:
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British-English, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What does Bible prophecy teach? Are there non-biblical prophecies that support this idea? Who will divide those lands? Who will end up with the lands and the people?
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? This is a lengthy article with many prophecies that Barack Obama may end up fulfilling.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled by him?
The Plain Truth About Gold in Prophecy. How Should a Christian View Gold? What do economists and the Bible teach about gold? Gold and silver may drop in value. Inflation/deflation? What do Christians need to know about gold?
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States?