{"id":91903,"date":"2024-12-04T06:00:32","date_gmt":"2024-12-04T14:00:32","guid":{"rendered":"https:\/\/www.cogwriter.com\/news\/?p=91903"},"modified":"2024-12-04T09:43:57","modified_gmt":"2024-12-04T17:43:57","slug":"debt-is-america-following-the-path-of-collapsed-empires","status":"publish","type":"post","link":"https:\/\/www.cogwriter.com\/news\/prophecy\/debt-is-america-following-the-path-of-collapsed-empires\/","title":{"rendered":"Debt: Is America Following The Path Of Collapsed Empires?"},"content":{"rendered":"

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\n(Photo from Pexels)<\/em><\/p>\n

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

More and more are concerned about rising US government debt:<\/p>\n

NEW YORK, Dec 4 (Reuters) – BlackRock (BLK.N)<\/a>, opens new tab<\/a> expects the artificial intelligence boom to continue to boost U.S. stocks next year and support economic growth more broadly, although rising U.S. government debt levels could threaten its upbeat 2025 forecasts. https:\/\/www.reuters.com\/markets\/us\/blackrock-bets-ai-driven-stocks-rally-us-debt-clouds-2025-outlook-2024-12-04\/<\/a><\/p><\/blockquote>\n

ZeroHedge<\/em> posted the following;<\/p>\n

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The Looming Debt Crisis: Is America Following The Path Of Collapsed Empires?<\/h2>\n

December 3, 2024<\/p>\n

Whether it\u2019s Rome, Spain, France, Britain, or the Soviet Union, excessive debt has played a critical role in their decline.<\/p>\n

The typical pattern in these examples of collapsing empires is:<\/p>\n

Stage #1:\u00a0<\/strong>Empires achieve success and become overconfident.<\/em><\/p>\n

Stage #2:<\/strong>\u00a0Overconfidence leads to extravagant spending on luxuries and wars.<\/em><\/p>\n

Stage #3:<\/strong>\u00a0Empires finance this lavish spending by going into debt.<\/em><\/p>\n

Stage #4:<\/strong>\u00a0The debt grows to an unsustainable level and creates a crushing burden.<\/em><\/p>\n

Stage #5:\u00a0<\/strong>Empires finance the debt through taxation and currency debasement.<\/em><\/p>\n

Stage #6:<\/strong>\u00a0The populace bears the brunt of debt repayment as empires raise taxes and debase the currency\u2014to the maximum extent\u2014until it causes internal instability.<\/em><\/p>\n

Stage #7:<\/strong>\u00a0Empires cannot finance their militaries because of their debt burden. This is usually the tipping point.<\/em><\/p>\n

Stage #8:<\/strong>\u00a0Underfunded militaries plus internal instability make empires vulnerable to foreign invasion, domestic revolution, civil war, and other existential dangers.<\/em><\/p>\n

Stage #9:<\/strong>\u00a0The empire collapses.<\/em><\/p><\/blockquote>\n

Now, it\u2019s the US Empire\u2019s turn.<\/p>\n

The US federal government has the biggest debt in the history of the world. And it\u2019s continuing to grow at a rapid, unstoppable pace.<\/p>\n

Annualized interest on the federal debt exceeded $1 trillion for the first time this year and is shooting higher at an exponential rate.<\/p>\n

The federal debt\u2019s annualized interest cost is already higher than the defense budget.<\/p>\n

It\u2019s on track to exceed Social Security and become the BIGGEST item in the federal budget.<\/p>\n

Historian Niall Ferguson summed it up nicely:<\/p>\n

\u201cAny great power that spends more on debt service (interest payments on the national debt) than on defense will not stay great for very long.<\/em><\/p>\n

True of Habsburg Spain, true of ancien r\u00e9gime France, true of the Ottoman Empire, true of the British Empire, this law is about to be put to the test by the US beginning this very year.\u201d<\/em><\/p><\/blockquote>\n

Consider this:<\/p>\n

1. The American populace is nearing its breaking point as taxation and inflation rise.<\/em><\/p>\n

2. Interest on the federal debt exceeds defense spending and is set to become the BIGGEST expenditure, and it will keep growing from there.<\/em><\/p><\/blockquote>\n

As a result, the US Empire is somewhere between\u00a0Stage #6<\/strong>\u00a0and\u00a0#7\u00a0<\/strong>in the empire collapse pattern I described above. It is nearing the point where its crushing debt burden will make it difficult to finance existing military spending.<\/p>\n

As we saw in the historical examples, a tipping point is reached once an empire\u2019s debt burden becomes so great that it struggles to pay for its military. It\u2019s like someone waving a big red flag.<\/p>\n

The US government will soon have to choose to:<\/p>\n

1. Cut defense spending amid the most chaotic geopolitical period since WW2.<\/em><\/p>\n

2. Default on its promises regarding Social Security, Medicare, Veterans\u2019 Benefits, and welfare generally.<\/em><\/p><\/blockquote>\n

Though it may try, the US government cannot continue to pay for entitlements and defense https:\/\/www.zerohedge.com\/geopolitical\/looming-debt-crisis-america-following-path-collapsed-empires<\/a><\/p><\/blockquote>\n

Yes, the US government is following in the path of great, but failed empires.<\/p>\n

It will also make trade-offs on defense, which will weaken it.<\/p>\n

The US, despite having such a strong military, is prophesied to be conquered in places like Daniel 11:39 and Isaiah 10:5-11.<\/p>\n

Regarding debt, this Summer, World Net Daily<\/em> reported:<\/p>\n

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We’re doomed! Unless we stop the National Debt Clock<\/h2>\n

August 16, 2024<\/p>\n

If the federal government could balance the budget and just move in the direction of paying the FIRST DOLLAR on the principal of the national debt, it would mean that a tectonic shift in attitude had occurred, and the madness and momentum of out-of-control government deficit spending will have reversed. …<\/p><\/blockquote>\n

“Cowards in Congress blame others for our national debt. Just fix it, already.” …<\/p><\/blockquote>\n

See our $35 TRILLION debt exploding on this National Debt Clock<\/a> as it plunges us toward a preventable economic and societal cataclysm like a “cartoon snowball” gathering size and speed.<\/p>\n

It was a mere $10 trillion in 2008<\/a>, and $20 trillion as recently as 2017, 68% and 104% of GDP<\/a>, respectively (GDP = Gross Domestic Product<\/a>, the value of America’s entire yearly economy;<\/p>\n

It’s taken just seven years to go from $20 trillion to today’s scary $35 trillion, a 57% increase and an amount that’s 122.8% of GDP<\/i> (currently $28.5 trillion). Our 2028 debt nightmare is estimated to be $46.7 trillion<\/a>. That’ll be a millstone on the U.S. economy at 147% of an estimated $31.6 trillion GDP!<\/i><\/p>\n

This national debt crisis is a massive crime against our people because it causes an illegal “inflation tax”<\/a> and “taxation without representation”<\/a> on generations yet-to-be-conceived.<\/p>\n

Anyone who downplays this danger is a deceiver. …<\/p>\n

President Trump’s former chief of staff, Mick Mulvaney {said}:<\/p>\n

“As a leading Republican senator once told President Trump: ‘No one in this town has ever lost his job for spending too much. People have lost for spending too little.’ Candidates for office talk about what people want them to talk about \u2026 and right now, voters don’t care about spending.”<\/p>\n

Another high-ranking Republican remarked, “Nobody votes for Scrooge.”<\/p>\n

In other words, dear reader, we are to blame. https:\/\/www.wnd.com\/2024\/08\/were-doomed-unless-we-stop-the-national-debt-clock\/<\/a><\/p><\/blockquote>\n

Yes, politicians spend, promise to spend more, and get voted in.<\/p>\n

For those who think that Donald Trump will fix the debt accumulation, consider the following that he said:<\/p>\n

I\u2019m the king of debt. I love debt. (Egan M. Donald Trump: \u2018I\u2019m the king of debt.\u2019 CNN, May 7, 2016)<\/p><\/blockquote>\n

And what happened during the Trump-Pence Administration? The debt went up dramatically.<\/p>\n

Even when he was President of the United States, Barack Obama said the levels of debt his Administration oversaw was “unsustainable,” yet the debt kept going up during the Obama-Biden Administration.<\/p>\n

Notice the following levels of official US debt:<\/p>\n