{"id":51588,"date":"2018-11-28T07:00:56","date_gmt":"2018-11-28T15:00:56","guid":{"rendered":"http:\/\/www.cogwriter.com\/news\/?p=51588"},"modified":"2018-12-05T02:29:04","modified_gmt":"2018-12-05T10:29:04","slug":"us-debt-to-rise-to-6x-gdp-destruction-or-a-reset-will-happen-first","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/us-debt-to-rise-to-6x-gdp-destruction-or-a-reset-will-happen-first\/","title":{"rendered":"US Debt to rise to 6x GDP? Destruction or a ‘reset’ will happen first"},"content":{"rendered":"

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\n<\/em><\/p>\n

COGwriter<\/a><\/p>\n

The USA has a huge problem with debt. And it is worse than most people realize:<\/p>\n

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The Coming Bankruptcy of the American Empire<\/h2>\n

Herbert Stein was chair of the Council of Economic Advisors under Presidents Richard Nixon and Gerald Ford and is the father of the more well known Ben Stein. In 1976, he propounded what he called \u201cStein\u2019s Law\u201d: if something cannot go on forever, it will stop. Stein was referring to economic trends, but the same law applies just as much to foreign policy and the concept of empire. …<\/p>\n

The United States\u2019 national debt is approaching $22 trillion with a current federal budget deficit of over $800 billion. As Senator Rand Paul often points out, bankruptcy is the Sword of Damocles hanging perilously close to Uncle Sam\u2019s neck. …<\/p>\n

The United States holds the most debt of any country in the history of the world. … How much debt can the system hold? When will the cracks grow too big to hide? When will the foundation crumble? There\u2019s a great deal of ruin in a nation, said Adam Smith, and our ruin must ultimately come.<\/p>\n

Is bankruptcy possible? As some Beltway economists remind us, no. Technically the government has the power to artificially create as many dollars as it needs to pay its debts. But this kind of hyper-inflation would deprive the U.S. dollar of any value and tank the global economy that trades with it. 11\/20\/18. https:\/\/www.theamericanconservative.com\/articles\/the-coming-bankruptcy-of-the-american-empire\/<\/a><\/p>\n

By the time a child born in 2018 is settling into retirement, the national debt could be six times the size of the American economy.<\/p>\n

Without making any changes to current policy\u2014in other words, even without<\/em> the glut of new entitlement spending proposed by some of Bernie Sanders’ acolytes<\/a>\u2014that’s the trajectory for the national debt over the rest of the 21st century, according to the Congressional Budget Office (CBO). It’s an outlook that the Committee for a Responsible Federal Budget (CRFB), in an analysis<\/a> released this week, calls “frightening and almost certainly unsustainable.”<\/p>\n

Under current law\u2014which assumes, among other things, that last year’s tax cuts will expire in 2025 and not be extended\u2014the national debt will double from 78 percent of gross domestic product (GDP) this year to 160 percent of GDP by 2050. It would hit 360 percent of GDP, and still be climbing, by the end of the CBO’s 75-year projection window in 2093. In the so-called “alternative fiscal scenario,” which assumes current policies (such those tax cuts) are kept in place, the debt would hit 225 percent of GDP by 2050 and more than 600 percent of GDP by 2093. https:\/\/reason.com\/blog\/2018\/10\/26\/a-national-debt-6-times-the-size-of-the<\/a><\/p><\/blockquote>\n

Let’s wait before we consider biblical prophecies about this.<\/p>\n

A rise of interest rates alone to normal rates expected to an economy like this would stop this from happening.<\/p>\n

There would, at minimum, be some type of debt reset (see \u2018Another Day Older and Deeper in Debt\u2019 \u2014 Reset coming in 2020 or later?<\/a>). And that would hurt probably everyone (though some more than others).<\/p>\n

Anyway, the debt situation is serious:<\/p>\n

In case anyone is still unaware, government debt is out-of-control. It doubled under President Obama, and it is anticipated to increase for 50 percent in the next ten years.<\/a><\/p>\n

It\u2019s not just the repayment of debt that presents a potential crisis; it\u2019s the interest payments.<\/a> With a clear correlation between government debt and diminished growth, a natural first step would be for the government to ease its deficit spending on programs such Medicaid, Social Security, and Medicare to decrease the waste inherent in some of these programs.<\/p>\n

Interest rates are expected to rise to $1 trillion<\/a> during the next decade. That is more than the US spends each year on Medicaid and its military. It will cost $55,000 per household over the next ten years just to service debt.<\/a> …<\/p>\n

The once-great country of America appears to be on the decline, paralyzed by mounting debts it cannot handle. …<\/p>\n

At of January, foreign investors own $6.35 trillion<\/a> in US bonds, with China and Japan the largest investors, with a total of $2 trillion. When the demand for treasury bonds decreases, the Federal Reserve will need to increase interest rates, which increases the cost of borrowing. http:\/\/www.goldtelegraph.com\/america-paralyzed-by-mounting-debts<\/a><\/p><\/blockquote>\n

At this moment, I consider the above scenario overly optimistic (cf. Habakkuk 2:6-8).<\/p>\n

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As USA debt rises, the US Federal Reserve raises interest rates as it has done this year (see US debt over $21 trillion, Fed raises interest rates, debt to continue to climb<\/a>).<\/p>\n

This puts more pressure on the debt and the ability to repay it.<\/p>\n

Shortly after becoming US President, Barack Obama said that the levels of deficit spending that the USA was engaging in was “unsustainable.” Something that is unsustainable cannot continue indefinitely. The rise of USA debt is unsustainable.<\/p>\n

The rise of US debt was listed by me as number 10 of 18 items to prophetically watch in 2018<\/a> (here is a link to a related sermon: 18 items to prophetically watch in 2018<\/a>).<\/p>\n

The Anglo-American world order will come to an end. Accumulation of debt, and then having to pay historically \u2018normal\u2019 interest rates will strain the national economies of the USA, UK, and Canada more than almost anyone will believe. It will be a financial crisis beyond what most pundits would consider possible.<\/p>\n

Speaking of pundits, the following was interesting from James Howard K.:<\/p>\n

The true message of income inequality is that the nation as a whole is becoming incrementally impoverished and eventually even the massive \u201cwealth\u201d of the one-percenters will prove to be fictitious, as the things it is represented in \u2014 stocks, bonds, currencies, Manhattan apartments \u2014 hemorrhage their supposed value. The very wealthy will be a lot less wealthy while everybody else is in a life-and-death struggle to remain fed, housed, and warm. And, of course, that only increases the chance that some violent social revolution will take away even that remaining residue of wealth, and destroy the people who held it. https:\/\/www.zerohedge.com\/news\/2018-04-23\/kunstler-america-has-become-alzheimer-nation<\/a><\/p><\/blockquote>\n

James is correct that the time will come when assets held by the wealthier Americans will be worth much less in terms of real purchasing power. The USA dollar, for one example, will be worth no more than the scrap value of the cotton-paper it is printed on and digital US bank account holdings will be worth even less.<\/p>\n

Those who think the current world order with the USA\u2019s dollar on top will last until the end of this century are in error.<\/p>\n

Repentance is needed. The USA and its Anglo-Saxon allies will not last to the end of this century (watch also End of the Anglo-American Order<\/a>).<\/p>\n

The prophecy in Habakkuk 2 shows that destruction will come to a highly indebted people:<\/p>\n

3 For the vision is yet for an appointed time; But at the end<\/strong> it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come<\/strong>, 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?<\/strong> Will they not awaken who oppress you? And you will become their booty. <\/strong>8 Because you have plundered many nations, All the remnant of the people shall plunder you. <\/strong>Because of men\u2019s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:3,5,6-8).<\/p><\/blockquote>\n

The above prophecy will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come,” Daniel 10:1,14). Daniel 8:19, 11:27,29,35 use the same Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently.<\/p>\n

Notice also the following from the Commentary on Habakkuk<\/em> from the ancient Dead Sea Scrolls (roughly 2000 years old; translated in the 1950s by F.F. Bruce):<\/p>\n

God commanded Habakkuk to write the things that were coming upon the last generation, but the fulfilment of the epoch he did not make known to him. (1Q p Hab. vii 1-5)<\/p><\/blockquote>\n

While ancient commentaries like this are NOT scripture, this particular one shows that those who understood the Hebrew language around 2000 years ago believed that Habakkuk’s words had NOT then been fulfilled and were for the time of the end.<\/p>\n

Habakkuk 2 is NOT a reference to the tiny nation called Israel as it does not have a substantial amount of enemy creditors, but it is\u00a0 reference to the USA which many analysts will admit does have massive debt held by unfriendly creditors.<\/p>\n

Time will run out for the USA.<\/p>\n

Some items of possibly related interest include the following:<\/em><\/p>\n

The End of US Dollar Dominance<\/a> Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan<\/a>.
\nCollapse of the Euro and Dollar? War in 2020?<\/a> Larry Edelson of Money and Markets<\/em> described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the \u2018granddaddy of all cycles\u201d? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
\nEnd of the Anglo-American Order<\/a> In mid-2017, BBC ran an article under the headline of \u201cEnd of the Anglo-American order?\u201d Is that really a question or the biblical reality? After the Brexit vote, the election of US President Donald Trump, and US rejection of the Paris accords on climate change, is the world really going to put in a different order? Some are claiming that Europe or Germany will head up this new world order\u2013an order that sounds eerily similar to one essentially proposed and approved by the United Nation in 2015. Is the UN\u2019s \u201cAgenda 2030\u201d a false gospel? How will this end for the USA, UK, Australia, Canada, and New Zealand? Will there later be something better to replace it? Dr. Thiel addresses these issues and more. This is a video.
\nIs God Calling You?<\/a> This is a draft booklet discussing calling, election, and selection. If God is calling you, how will you respond?
\nChristians: Ambassadors for the Kingdom of God, Biblical instructions on living as a Christian<\/a> This is a scripture-filled booklet for those wishing to live as a real Christian.
\nChristian Repentance<\/a> Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance<\/a>.
\nWhen You Sin: Do You Really Repent? <\/a>This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent<\/a>.<\/span>
\nAnglo – America in Prophecy & the Lost Tribes of Israel<\/a> Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo-Saxon (non-Dutch) Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? What will happen to Jerusalem and the Jews in Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo-Saxon nations? Why might God allow them to be punished first? Here is a link to the Spanish version of this article: Anglo-Am\u00e9rica & las Tribus Perdidas de Israel<\/a>. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter?<\/a><\/span> and British are the Covenant People<\/span><\/a>. A short YouTube of prophetic interest may be: Are Chinese threats against Australia for real?<\/a>
\nWill the Anglo-Saxon Nations be Divided and Have People Taken as Slaves?<\/a> Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? What about Jerusalem? 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? Here is a link to a video titled Will the USA and other Anglo-nations be Divided and Their People Made Slaves? <\/a> Here is a related item in the Spanish language \u00bfSer\u00e1n divididas las naciones anglosajonas?<\/a>
\nBritish are the Covenant People <\/a> What do \u2018British\u2019 and \u2018Britain\u2019 mean in Hebrew? Are the descendants of the Anglo-Saxons people of the covenant? Does the British royal family connect to the throne of David? What does the Bible teach? What does history show us? Is there any DNA evidence related to British-Israelism? When did Christianity make it to the British Isles? Could Jeremiah have made it to the British Isles? What type of Christians made it to the British Isles? Did the last King of England believe in British Israelism?
\nCanada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada?<\/a> There are prophecies that suggest involvement with Canada. And many are not positive about its future.
\nUSA in Prophecy: The Strongest Fortresses<\/a> Can you point to scriptures, like Daniel 11:39, that point to the USA in the 21st century? This article does. A related sermon is titled: Do these 7 prophesies point to the end of the USA?<\/a>
\nWhen Will the Great Tribulation Begin? 2018, 2019, or 2020?<\/a> Can the Great Tribulation begin today? What happens before the Great Tribulation in the “beginning of sorrows”? What happens in the Great Tribulation and the Day of the Lord? Is this the time of the Gentiles? When is the earliest that the Great Tribulation can begin? What is the Day of the Lord? Who are the 144,000? Here is a version of the article in the Spanish language: \u00bfPuede comenzar la Gran Tribulaci\u00f3n en 2018 o 2019? \u00bfEs el Tiempo de los Gentiles?<\/a> You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives<\/a> and Can the Great Tribulation begin before 2020?<\/a> A shorter video is: Can the Great Tribulation begin in 2018?<\/a>
\nThe Times of the Gentiles<\/a> Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles<\/a>.<\/span>
\nProtestant and Church of God views of the United States in Bible Prophecy<\/a> Is the USA mentioned in Bible prophecy? Some Protestants say yes, while others say no. What does the Bible really teach? Learn the truth about this. There is also a video available: Is The United States Mentioned In Bible Prophecy?<\/a>
\nPhysical Preparation Scriptures for Christians<\/a>. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparaci\u00f3n f\u00edsica para los Cristianos<\/a>. Here is a link to a related sermon: Physical preparedness for Christians<\/a>.
\nThe Plain Truth About Gold in Prophecy. How Should a Christian View Gold?<\/a> 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?
\nWho is the King of the North?<\/a> 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? Here is a link to a video titled: The Future King of the North<\/a>.
\nThe Gospel of the Kingdom of God<\/a> This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to three related sermons: The World\u2019s False Gospel<\/a>, The Gospel of the Kingdom: From the New and Old Testaments<\/a>, and The Kingdom of God is the Solution<\/a>.
\nDonald Trump in Prophecy<\/a> Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic?<\/a> and Donald Trump’s Prophetic Presidency<\/a>.
\nTrump Presidency Magic 8 Ball or Bible Prophecy?<\/a> BBC<\/em> reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
\nDonald Trump and America\u2019s Apocalypse<\/a> This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America\u2019s Apocalypse<\/a>.
\nDonald Trump and America\u2019s Apocalypse-Kindle Edition<\/a> This electronic version of the 188 page print edition is available for only US$3.99. And you do not need an actual Kindle device to read it. Why? Amazon will allow you to download it to almost any device: Please click HERE to download one of Amazon \u0019s Free<\/strong> Reader Apps<\/a>. After you go to for your free Kindle reader and then go to Donald Trump and America\u2019s Apocalypse-Kindle Edition<\/a>.
\nWho is the King of the West? Why is there no End-Time King of the West in Bible Prophecy?<\/a> Is the United States the King of the West?<\/p>\n","protected":false},"excerpt":{"rendered":"

COGwriter The USA has a huge problem with debt. And it is worse than most people realize: The Coming Bankruptcy of the American Empire Herbert Stein was chair of the Council of Economic Advisors under Presidents Richard Nixon and Gerald Ford and is the father of the more well known Ben Stein. In 1976, he […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-51588","post","type-post","status-publish","format-standard","hentry","category-prophecy"],"aioseo_notices":[],"aioseo_head":"\n\t\t\n\t\n\t\n\t\n\t\n\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t\n\t\t