US and Canadian debt: An unsustainable problem

The USA and Canada have major problems with debt.

Here are some reports related to Canada:

Many Canadians are facing the consequences of spiraling debt. …

Easy credit has provided Canadians with a false sense of security and enticed many into the housing market. With household debt already at an unprecedented level, many homeowners will not be able to refinance their current mortgage debt.

Canadians have succumbed to the lure of easy credit. Consumer household credit totaled $2.13 trillion, with residential mortgages making up 72% of that.

Easy credit and rising home prices have created a debt trap for many Canadians, and many face an uncertain future. With little savings to cushion a financial blow, Canadians have good reason to be concerned.

Canada’s household debt has exceeded its GDP for the first time, and most Canadians are living on a precarious edge. Faced with mortgage payments they find difficult to repay, 4 out of 10 Canadian homeowners are without the necessary funds to meet normal living expenses. …

Unless Canadians lower their out-of-control debt, they may be in for a bumpy few years. https://www.zerohedge.com/news/2018-04-23/reset-looms-canadians-start-feeling-pain-debt

CALGARY — A new poll suggests a growing proportion of Canadians say they are feeling the effects of higher interest rates.

The quarterly MNP consumer debt index survey says 43 per cent of Canadians say they’re feeling the effects of higher interest rates, up five percentage points from three months ago.

The poll done for insolvency firm MNP also said 51 per cent of respondents fear rising interest rates could impact their ability to repay their debts, while 33 per cent agreed that rising interest rates could possibly push them towards bankruptcy. http://business.financialpost.com/personal-finance/rising-interest-rates-starting-to-pinch-more-canadians-poll-says

Here is something related to the USA:

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.

It’s not just the repayment of debt that presents a potential crisis; it’s the interest payments. 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.

Interest rates are expected to rise to $1 trillion 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. …

The once-great country of America appears to be on the decline, paralyzed by mounting debts it cannot handle. …

At of January, foreign investors own $6.35 trillion 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

At this moment, I consider the above scenario overly optimistic (cf. Habakkuk 2:6-8).

As USA debt rises, the US Federal Reserve raises interest rates as it did last month (see US debt over $21 trillion, Fed raises interest rates, debt to continue to climb).

This puts more pressure on the debt and the ability to repay it.

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, and this seems to also be the case for the Canadians.

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

The Anglo-American world order will come to an end. Accumulation of debt, and then having to pay historically ‘normal’ interest rates will strain the national economies of the USA and Canada more than almost anyone will believe. It will be a financial crisis beyond what most pundits would consider possible.

Speaking of pundits, the following was interesting from James Howard K.:

The true message of income inequality is that the nation as a whole is becoming incrementally impoverished and eventually even the massive “wealth” of the one-percenters will prove to be fictitious, as the things it is represented in — stocks, bonds, currencies, Manhattan apartments — 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

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.

Those who think the current world order with the USA’s dollar on top, with the Canadian economy soundly next to it, will last several decades are in error.

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).

Some items of possibly related interest include the following:

The End of US Dollar Dominance 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.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets 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 ‘granddaddy of all cycles”? 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.
End of the Anglo-American Order In mid-2017, BBC ran an article under the headline of “End of the Anglo-American order?” 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–an order that sounds eerily similar to one essentially proposed and approved by the United Nation in 2015. Is the UN’s “Agenda 2030” 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.
Is God Calling You? This is a draft booklet discussing calling, election, and selection. If God is calling you, how will you respond?
Christians: Ambassadors for the Kingdom of God, Biblical instructions on living as a Christian This is a scripture-filled booklet for those wishing to live as a real Christian.
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
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: Are Chinese threats against Australia for real?
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?
Canada in Prophecy: What Does Bible Prophecy, Catholic Prophecy, and other Predictions Suggest About the Future of Canada? There are prophecies that suggest involvement with Canada. And many are not positive about its future.
USA in Prophecy: The Strongest Fortresses 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?
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.
Protestant and Church of God views of the United States in Bible Prophecy 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?
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
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 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’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
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? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
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.
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?