{"id":444,"date":"2008-05-21T06:11:44","date_gmt":"2008-05-21T14:11:44","guid":{"rendered":"http:\/\/www.cogwriter.com\/news\/?p=444"},"modified":"2008-05-21T06:12:27","modified_gmt":"2008-05-21T14:12:27","slug":"pcg-usa-on-road-to-inflation","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/pcg-usa-on-road-to-inflation\/","title":{"rendered":"PCG: USA on Road to Inflation"},"content":{"rendered":"<p align=\"center\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.cogwriter.com\/us-dollars.jpg\" border=\"0\" alt=\"\" width=\"126\" height=\"122\" \/><br \/>\n<em>The Strength of Dollars Have Long Been Part of the  \u201cPride of the Power\u201d of the USA<\/em> <em>(which will be broken per Leviticus  26:19)<\/em><\/p>\n<p><a href=\"https:\/\/www.cogwriter.com\/cogwriter.htm\"><span style=\"color: #0066cc;\">COGwriter<\/span><\/a><\/p>\n<p>Yesterday, <a href=\"https:\/\/www.cogwriter.com\/pcg.htm\">PCG <\/a>posted the following by its Robert Morley titled <em>Road to an Inflation Nation<\/em>:<\/p>\n<blockquote>\n<p style=\"font-size: 12px; line-height: 18px;\">The world is going through an  economic power shift not experienced since America defeated the <span class=\"small-caps\">ussr<\/span> in the Cold War to become the globe\u2019s only  superpower. Only this time, America is on the losing end. Fareed Zakaria, <span class=\"article_text\">writing<\/span> for <em>Newsweek,<\/em> called this power shift the \u201cRise  of the Rest.\u201d In biblical terminology, it is called \u201cthe times of the Gentiles.\u201d<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">The evidence is becoming apparent  in many areas. For example:<\/p>\n<ul style=\"font-size: 12px; line-height: 18px;\">\n<li>The dollar is on its way to becoming the most disliked currency in the  world. Since the U.S. Dollar Index\u2019s <span class=\"article_text\">peak<\/span> in 1985, its value has plunged by over 57 percent,  hitting the lowest level in its history last March. And since the late 1990s,  the ratio of dollars held by foreign nations as reserves has also been  declining. As the dollar\u2019s value continues to erode, so does its status as the  global reserve currency.<\/li>\n<\/ul>\n<ul style=\"font-size: 12px; line-height: 18px;\">\n<li>America\u2019s banking system has a stained reputation and, if truth be told,  might be largely insolvent. If it wasn\u2019t for the massive multi-billion-dollar <span class=\"article_text\">bailouts<\/span> over the past year by Singapore, Dubai, the United  Arab Emirates and Saudi Arabia, some of America\u2019s biggest banks including Citi  Group, Merrill Lynch, and Morgan Stanley may have already died. Bear Stearns is  already dead.<\/li>\n<\/ul>\n<ul style=\"font-size: 12px; line-height: 18px;\">\n<li>Government debts are out of control. The federal government has not balanced  a budget since Dwight D. Eisenhower was president, it relies on foreigners to  fund current expenditures, and if Social Security and Medicare commitments were  accounted for using generally accepted accounting principles, the government  would be insolvent too. <em>USA Today<\/em> <span class=\"article_text\">says<\/span> federal liabilities exceed $59 trillion\u2014and the total  federal budget for 2008 was only 2.9 trillion. U.S. government debt levels are  proportional to a family with an annual income of $50,000 owing over $1 million.<\/li>\n<\/ul>\n<ul style=\"font-size: 12px; line-height: 18px;\">\n<li>Economic growth in America compared to the rest of the world is anemic. For  <span class=\"article_text\">example<\/span>, in 2006 and 2007, 124 countries grew their economies  at over 4 percent a year\u2014including more than 30 African nations. China and India  grew at over 10 percent a year. Meanwhile, the U.S. grew at 2.2 percent in 2007  and at <span class=\"article_text\">0.6 percent<\/span> last quarter. Even stodgy old <span class=\"article_text\">Europe<\/span> is now growing faster than America.<\/li>\n<\/ul>\n<p style=\"font-size: 12px; line-height: 18px;\">But perhaps the most compelling  evidence is the deterioration of the U.S. government\u2019s credit rating.<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">\u201cOn the basis of credit default  swaps, which are used to speculate on a government\u2019s ability to repay debt, the  10-year note reached a <em>record high<\/em> of 16 basis points on March 12,\u201d <span class=\"article_text\">reports<\/span> <em>Daily Reckoning<\/em> economist Bill Bonner. \u201cGerman  bonds traded at 15 basis points, also a record\u201d (emphasis mine throughout). What  that means is that the market thinks there is greater risk of America defaulting  on its bonds than Germany.<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">What does it tell you about  America\u2019s financial condition when the cost to insure its debt is pricier than  insuring Germany\u2019s\u2014a nation about a quarter of the size of the U.S. that has  instigated and lost two world wars and has resorted to indiscriminately printing  money to pay its creditors in the past?<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">It means that America is in far  worse economic condition than is generally perceived\u2014and that is quite  significant considering the well-publicized housing market bust and banking  turmoil&#8230;<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">When home prices were rising,  cities raked in piles of cash as property taxes soared. But now, <span class=\"article_text\">according<\/span> to the <em>Globe and Mail<\/em>, \u201cWith housing values  plummeting\u2014down 19 percent in January, year over year\u2014so are tax assessments,  and thus, revenues.\u201d But even though revenues are falling, the expanded programs  and the borrowing initiated during the housing boom years still need to be paid  for. Coupled with lost construction, lending, and real-estate jobs, and rising  wage pressures, councils are feeling the pinch. And for many states, this is  really only year one of the housing bust.<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">Over the next couple of years,  many cities could easily face default. Large centers such as Detroit and  Cleveland, where half of all subprime mortgages are ending in <span class=\"article_text\">foreclosure<\/span>, could also come under pressure to drastically cut  services and jobs to balance budgets in the years ahead.<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">State budgets are being punished  too. California has already declared a state of fiscal emergency due to an  expected deficit of around $20 billion over the next 12 to 15 months. And on the  East Coast, Rhode Island is experiencing its worst budget crisis in years. Rhode  Island is terminating welfare benefits to families of 3,400 children; it has  released nonviolent criminals out of prison early; it has slashed health care  benefits for state employees\u2014and next year\u2019s budget deficit is projected to be  more than twice as severe.<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">Other housing bubble epicenters  like Florida, Arizona and New Mexico could be next. Unfortunately, they may not  be alone. <em>Twenty-four other states<\/em> are facing budget shortfalls for the  2009 fiscal year, <span class=\"article_text\">according  to<\/span> the Center on Budget and Policy Priorities, a liberal research group in  Washington&#8230;<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">\u201c[F]or the first time in modern  history there are grave doubts about the very viability of our money,\u201d <span class=\"article_text\">says<\/span> economic analyst Richard Russel. \u201cEven during the Great  Depression, nobody doubted the value of a dollar. The dollar was \u2018as good as  gold.\u2019 The only problem was\u2014nobody had dollars.\u201d<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">\u201cToday it\u2019s a different story,\u201d he  says. \u201cToday there are too many dollars around\u2014but the world is questioning the  viability of the U.S. dollar. \u2026 The wonder is that the dollar is viable at all.\u201d<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">And the announcement that the  Federal Reserve Bank injected another $200 billion into the banking system on  March 11 is not providing the confidence that it was intended to either&#8230;<\/p>\n<p style=\"font-size: 12px; line-height: 18px;\">The road to inflation nation ends in food riots, wheelbarrows of paper notes,  and billion-dollar postage stamps. Unfortunately, that\u2019s the road America is  choosing to travel.<\/p>\n<\/blockquote>\n<p>The fact is that the USA is in decline.  And while it DOES need change, the type of changes I heard in a speech from one of the major presidential candidates (who is probably the most likely one to become the USA president) will NOT fix this decline.  I believe that no matter which of the three wins, the decline will continue (though the decline may happen faster or slower depending upon who wins).<\/p>\n<p>Americans need to repent, accept the true Christ of the Bible, and begin to produce more than they spend (or as <a href=\"https:\/\/www.cogwriter.com\/herbertwarmstrong.htm\">Herbert W. Armstrong<\/a> basically put it, live the way of give as opposed the way of get).<\/p>\n<p>As this does not seem likely, massive inflation, future economic upheavels, weather disasters, disease epidemics, terrors, and the destruction of the USA followed by the slavery of surviving its peoples is what it has in store.<\/p>\n<p>But this does NOT have to happen to YOU.  YOU can repent and if God determines that you are Philadelphian, He has a plan that will allow your protection.<\/p>\n<p><em>Several articles of possibly related interest may include:<\/em><\/p>\n<p><a href=\"https:\/\/www.cogwriter.com\/place.htm\">There is a Place of Safety for the  Philadelphians. Why it May Be Petra<\/a> This article discusses a biblical &#8216;place  of safety&#8217; and includes quotes from the Bible and Herbert W. Armstrong on this  subject&#8211;thus, there is a biblically supported alternative to the<a href=\"https:\/\/www.cogwriter.com\/rapture.htm\"> rapture<\/a> theory.<br \/>\n<a href=\"https:\/\/www.cogwriter.com\/kingofthenorth.htm\">Who is the King of the  North?<\/a> Is there one? Do biblical and Roman Catholic prophecies 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<span class=\"style27\"> the United States, Great Britain, Canada,  Australia, and New Zealand<\/span>? When do the 1335 days, 1290 days, and 1260  days (the time, times, and half a time) of Daniel 12 begin?<br \/>\n<a href=\"https:\/\/www.cogwriter.com\/meaningoflife.htm\">What is the Meaning of  Life?<\/a> Who does God say is happy? What is your ultimate destiny? Do you  really know? Does God actually have a plan for YOU personally?<br \/>\n<a href=\"http:\/\/www.tomorrowsworld.org\/cgi-bin\/tw\/booklets\/tw-bk.cgi?action=dispbooklets\">The  Bible: Fact or Fiction?<\/a> This is a booklet written by Douglas Winnail that  answers if the Bible is just a collection of myths and legends or the inspired  word of God.<br \/>\n<a href=\"https:\/\/www.cogwriter.com\/bible.htm\">Read the Bible<\/a> Christians should read the Bible. This article gives some rationale for regular  bible reading.<br \/>\n<a href=\"https:\/\/www.cogwriter.com\/pharisee.htm\">Were the Pharisees Condemned for  Keeping the Law or Reasoning Around it?<\/a> Many believe that the Pharisees were  condemned for keeping the law, but what does your Bible say? If they were not  condemned for that, what were they condemned for?<br \/>\n<a href=\"https:\/\/www.cogwriter.com\/love.htm\">The Ten Commandments Reflect Love,  Breaking them is Evil<\/a> Some feel that the ten commandments are a burden. Is  that what Jesus, Paul, Peter, James, and John taught?<br \/>\n<a href=\"https:\/\/www.cogwriter.com\/johnl.htm\">Was the Commandment to Love the Only  Command?<\/a> Some have stated that John&#8217;s writings teach this, but is that what  the Bible really says?<br \/>\n<a href=\"https:\/\/www.cogwriter.com\/2tencom.htm\">The Ten  Commandments and the Early Church<\/a> Did Jesus and the Early Church keep the  ten commandments? What order were they in? Here are quotes from the Bible and  early writings.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Strength of Dollars Have Long Been Part of the \u201cPride of the Power\u201d of the USA (which will be broken per Leviticus 26:19) COGwriter Yesterday, PCG posted the following by its Robert Morley titled Road to an Inflation Nation: The world is going through an economic power shift not experienced since America defeated the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[6,4],"tags":[],"class_list":["post-444","post","type-post","status-publish","format-standard","hentry","category-cog-news","category-prophecy"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 4.9.10 - aioseo.com -->\n\t<meta name=\"description\" content=\"The Strength of Dollars Have Long Been Part of the \u201cPride of the Power\u201d of the USA (which will be broken per Leviticus 26:19) COGwriter Yesterday, PCG posted the following by its Robert Morley titled Road to an Inflation Nation: The world is going through an economic power shift not experienced since America defeated the\" \/>\n\t<meta name=\"robots\" content=\"max-image-preview:large\" \/>\n\t<meta name=\"author\" content=\"admin\"\/>\n\t<link rel=\"canonical\" href=\"https:\/\/www.cogwriter.com\/news\/prophecy\/pcg-usa-on-road-to-inflation\/\" \/>\n\t<meta name=\"generator\" content=\"All in One SEO (AIOSEO) 4.9.10\" \/>\n\t\t<meta property=\"og:locale\" content=\"en_US\" \/>\n\t\t<meta property=\"og:site_name\" content=\"Church of God News -\" \/>\n\t\t<meta property=\"og:type\" content=\"article\" \/>\n\t\t<meta property=\"og:title\" content=\"PCG: USA on Road to Inflation - 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