‘4 Pillars of Debt in Danger of Collapse’
1887 depiction of the ‘Four Horsemen of the Apocalypse’
US debt is an important issue:
“The Next Financial Crisis Is Staring Us In The Face”…
October 15, 2018
Now America is 68 trillion dollars in debt, and our day of reckoning is so close that even the mainstream media is sounding the alarm. http://theeconomiccollapseblog.com/archives/global-markets-continue-to-fall-as-bloomberg-warns-the-next-financial-crisis-is-staring-us-in-the-face
4 Pillars of Debt in Danger of Collapse
By Nomi Prins
The big banks got subsidies and were propped up by quantitative easing (QE) to resurrect themselves into appearing financially healthy. The same cannot be said of all consumers in the country.
It’s consumers that have now piled on debt — and at much higher interest rates than the banks and large corporations have been given.
Indeed, to make ends meet, there have been four main pillars of consumer debt that have hit new records.
According to a recent New York Federal Reserve Bank report, total consumer debt is at higher levels now than going into the financial crisis.
By breaking down what that debt is, you can best understand how to navigate the world of finance, understand your own portfolio better and make more sound investments.
Here they are:
Overall Household Debt.
The state of household debt, which literally takes into account the combined debt within a given household, continues to flash red. According to a 2017 household financial survey by the Fed, “About one-quarter of U.S. adults have no retirement savings. And 41% say they would not have enough savings to cover a $400 emergency expense.”
The overall level of consumer debt has hit a new record. … The total borrowing of Americans hit $13.29 {trillion} …
Credit Card Debt.
The total of U.S. credit card loans has increased by $45 billion this year to a massive $829 billion total. …
Student Loan Debt. …
Currently, the amount of student loans grew to $1.41 trillion in the second quarter of 2018 …
Auto Debt.
While the rising cost of manufacturing autos has impacted the automotive sector, it has not deterred consumers from borrowing money.
Total auto debt in the U.S. has shot up to $1.24 trillion. …
Our economy rests upon four crumbling pillars of debt. If one of these collapses, the entire superstructure may not be far behind. 10/11/18 https://dailyreckoning.com/pillars-debt-danger-of-collapse/
Yes, the economy could collapse because of debt. Now, the $68 trillion figure tends to include obligations as opposed to simply federal treasury notes–the ‘official’ US Federal Debt, as of last Thursday (the latest amount shown when I checked at https://treasurydirect.gov/NP/debt/current today) is $21,590,013,434,727.39. And that does NOT include consumer debt, corporate debt, state and local government debt, nor unfunded federal liabilities.
As far as far as corporate and consumer debt goes, a couple of years ago the Daily Reckoning also had the following by Nomi Prins:
Four Horses Of The U.S. Debt Apocalypse
Crises are based on compound bets (or debts) gone awry. …
Over the past two decades, we’ve seen the emerging-market collapse in the late 1990s, the Enron-led crime spree in 2001–02 and the housing-spawned financial crisis of 2008. Since that last crisis, the Fed’s cheap money policy has helped big banks and corporate customers, but most regular people have not fully recovered.
Regardless of whether the Fed raises rates or keeps recklessly bating business media about the possibility, these connected debt pockets can crush the economy again. Here, I’ll lay out how they can push us over the edge. Understanding these connected debt bubbles means that you can not only survive the looming implosion but also come out ahead.
One: Student Loans — The student loan debt bomb is exploding … Americans owe about $1.3 trillion in student loan debt across 43 million borrowers. This a HUGE increase from $260 billion in 2004. …
Two: Subprime Auto Loans — You may have heard about the record amount of auto sales recently — over $1 trillion. …
Three: Credit Cards — U.S. credit card debit will surpass $1 trillion this year …
Four: 99% of Corporates’ Cash/Debt Ratios Are Poor …
These four horses of debt, galloping toward us simultaneously from different sectors, don’t show any sign of slowing.
They will trigger the U.S. Debt Apocalypse, bringing more defaults, vast job cuts and economic fallout than even the Great Recession. August 30, 2016 http://dailyreckoning.com/the-four-horses-of-us-debt/
Nomi Prins latest report shows that debt still remains a problem.
Plus, official USA government debt has increased.
Many ‘pundits’ act like all this debt is acceptable and fine.
But it is not.
Actually, the Bible indicates this debt should be frightening and cause people to run:
2 And the Lord answered me:
“Write the vision;
make it plain on tablets,
so he may run who reads it.
3 For still the vision awaits its appointed time;
it hastens to the end—it will not lie.
If it seems slow, wait for it;
it will surely come; it will not delay.4 “Behold, his soul is puffed up; it is not upright within him,
but the righteous shall live by his faith.5 “Moreover, wine is a traitor,
an arrogant man who is never at rest.
His greed is as wide as Sheol;
like death he has never enough.
He gathers for himself all nations
and collects as his own all peoples.”6 Shall not all these take up their taunt against him, with scoffing and riddles for him, and say,
“Woe to him who heaps up what is not his own—
for how long?—
and loads himself with pledges!”
7 Will not your debtors suddenly arise,
and those awake who will make you tremble?
Then you will be spoil for them.
8 Because you have plundered many nations,
all the remnant of the peoples shall plunder you,
for the blood of man and violence to the earth,
to cities and all who dwell in them. (Habakkuk 2:2-8; English Standard Version)
The arrogance of political leaders in increasing the debt will not happen forever. The USA is the most indebted nation in the history of humanity and those in it should try to understand this prophecy–a prophecy that says the indebted nation (the USA) will be taken over.
The USA is facing MANY debt problems.
Debt will be a factor in the attack against the USA at the start of When Will the Great Tribulation Begin.
As far as economic factors and the end, here is a link to our latest uploaded video: Are Investors Facing The Four Horsemen Of The Apocalypse?
Some items of possibly related interest include the following:
When Will the Great Tribulation Begin? 2018, 2019, or 2020? 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: ¿Puede comenzar la Gran Tribulación en 2018 o 2019? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter video is: Can the Great Tribulation begin in 2018?
The Times of the Gentiles 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.
Four Horsemen of the Apocalypse What do each of the four horseman of the Apocalypse represent? Have they began their ride? Did Jesus discuss the any of this? Might their rides coincide with the “beginning of sorrows? Do they start their ride prior to the Great Tribulation? Did Nostradamus or any other ‘private prophets’ write predictions that may mislead people so that they may not understand the truth of one or more of the four horseman? There is also a related YouTube video titled The Four Horsemen of the Apocalypse.
The Gospel of the Kingdom of God 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.
Anglo – America in Prophecy & the Lost Tribes of Israel 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-América & las Tribus Perdidas de Israel. Information is also in the YouTube sermons titled Where are the Ten Lost Tribes? Why does it matter? and British are the Covenant People. A short YouTube of prophetic interest may be Barack Obama and the State of the Apocalypse.
Will the Anglo-Saxon Nations be Divided and Have People Taken as Slaves? 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? Here is a related item in the Spanish language ¿Serán divididas las naciones anglosajonas?
British are the Covenant People What do ‘British’ and ‘Britain’ 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?
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? Here is a link to a video titled: The Future King of the North.
The Gospel of the Kingdom of God was the Emphasis of Jesus and the Early Church Did you know that? Do you even know what the gospel of the kingdom is all about? You can also see a YouTube video sermon The Gospel of the Kingdom.
Just What Do You Mean the Kingdom of God? A booklet that was written by Herbert Armstrong answers questions about the Kingdom.
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Could a Donald Trump presidency be apocalyptic? A related video is titled: Donald: ‘Trump of God’ or Apocalyptic?
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC 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.
Donald Trump and America’s Apocalypse 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’s Apocalypse.
Donald Trump and America’s Apocalypse-Kindle Edition 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 s Free Reader Apps. After you go to for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.
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