WND and ICG ask ‘Is America headed for an economic collapse?’

Hyperinflation made bank notes worthless in 1946 Hungary

World News Daily (WND) had the following:

August 7, 2015

Is America headed for an economic collapse?

If so, presidential candidates are remaining eerily quiet about what’s being described as “a huge disaster waiting to happen.”

The U.S. stock market is on the verge of a massive collapse, warned David Stockman, OMB director during the Reagan administration, on CNBC’s “Futures Now” program. He said the recent price action has him even more convinced than ever that the bottom is about to fall out.

Stockman believes the excessive monetary policy from central banks around the world has created a “debt supernova,” and all the signs point to “the end of the central bank enabled bubble,” which could cause a worldwide recession.

In fact, he said, there’s no way to roll back the artificially inflated bubbles the Federal Reserve has caused.

“I think what we are seeing is the beginning evidence that the central bank-driven credit economy is over, and we are in a new era,” he said. “It’s a huge disaster waiting to happen.”

Now that the presidential hopefuls are duking it out in debates, it’s hoped whoever ends up occupying the Oval Office in 2016 will be equipped to handle the seemingly insurmountable challenge of an economic crisis.

For years, Obama has attempted to convince Americans an economic recovery is just around the corner. But more and more, the stark numbers are not supporting this administration’s assurances. Both domestic and international affairs are contributing to increasing concerns that something “big” is imminent.

Financial Times reports the media sector has been “in freefall” since Walt Disney revised its growth outlook for its ESPN sports channel this week. Viacom shares fell by more than 14 percent. Comedy Central, MTV and Paramount Pictures hit earnings forecasts, but missed estimates on revenues. 21st Century Fox closed down more than 6 percent.

Overall, the S&P 500 Media Index fell more than 2 percent on Friday, down 9 percent from its July high. …

CNS News reported on Friday there was a record 93,770,000 Americans not in the American labor force last month, and the labor force participation rate remained at 62.6 percent, exactly where it was in June – a 38-year low. …

While the unemployment rate is still “officially” 5.3 percent, Shadowstats reports the figure is closer to 24 percent.

These reports are just a hint of the true shakiness of the stock market in particular and the economy in general. http://www.wnd.com/2015/08/gop-stars-tight-lipped-on-huge-disaster-waiting-to-happen/#rbUUqf9pvGdLL2Ct.99

Yes, the economy of the USA is shaky and things are worse than they look. America, meaning both the USA and Canada, are heading for an economic collapse.

Now the WND report above failed to mention US debt or its massive trade imbalances. Because of the US dollar’s position as the world’s primary reserve currency, this has given the appearance of normalcy, while in reality the USA (as well as Canada) is headed for an economic collapse beyond what WND likely anticipates. Some commentators are anticipating a collapse this Fall (see also the links at the end of this post). Others suspect that a collapse could occur next year. Since the US Federal Reserve has indicated that it could start raising interest rates relatively soon, this could affect the stock market, etc. later this year.

As far as a view from someone else with a COG background goes, I thought I would share something from ICG’s Mark Armstrong. In his newsletter last night, he had the following comments:

Last night saw the first in a series of debates for hopeful candidates in next year’s presidential election. It was entertaining and at times lively. … But what guarantees do any of us have that the status quo can survive the next year and a half?…

What else could go wrong over the next year and a half? A financial collapse? Out of control spending of fiat currency on every ill-conceived program looks to be designed to bring that about. China is in economic decline and according to reports, selling American debt back to the Federal Reserve. Asian markets are faltering, Europe has a long-term debt crisis and has yet to sort out the Greek debacle. Government spending at home has us on a glide path to catastrophe, and few seem alarmed.

Let me state that the USA could have a major stock market drop in the next year and a half. This could be expected to affect presidential politics should it occur. Some believe problems will be more apparent in 2015. And of course, US debt has risen in 2015 (see also Treasury Secretary: Debt Ceiling Needs to be Raised, Again), and the Bible teaches that such debt will eliminate the nation (Habakkuk 2:6-8). But a total economic collapse in 2015 or 2016 is too soon.

Notice also the following claim:

We’re One Month Away From Economic Collapse, Author Says

A lot of prophetic teachers are in agreement about September, author John Shorey says on the Jim Bakker Show.

Among their claims is that September will bring financial ruin for the United States in the form of economic collapse. http://www.charismanews.com/opinion/50842-watch-we-re-one-month-away-from-economic-collapse-author-says

As far as predictions related to September 2015, check out the article September ‘convergence’: a harbinger of potential disaster? and/or the video The ‘Harbinger’ and September 2015. Many ‘prophetic teachers’ rely on their imaginations and signs that the Bible does not teach about (see also How To Determine If Someone is a True Prophet of God).

Now again this does not mean that the stock market, etc. could not have problems in September. But as far as a true economic collapse, I intentionally used a picture of cash being swept up from the streets in Hungary at the beginning of this post to illustrate that an economic collapse can be more than a drop in the stock market.

In a sense, hyperinflation worse than Hungary experienced will affect the US dollar. But I do NOT expect that to happen in the next year and a half. But it will come. Some in the media suspect something, but because they do not generally understand biblical prophecy, they do not understand how bad it will get for the USA and Canada (as well as their other Anglo-Saxon descended allies).

Some items of possibly related interest may include:

Project Prophecy: Economic Collapse Starting in 2015? Jim Rickards once worked for the CIA and also was once part of a a USA government program called called ‘Project Prophecy.’ He has a video were he claims that starting in 2015, the USA may have economic collapse resulting in a 25-Year Great Depression. He mainly cites debt figures and claims advises alternatives to the USA dollar which he says will collapse? What did Rand Paul state? Can the USA dollar collapse?
Market Collapse then New World Order in 2015? A long-time financial adviser named Harvey Organ claims that claims that because of insufficient gold in the central banks of USA and UK, that Shanghai would bring about exposing this and that this would lead to a massive, overnight, rise in the price of gold and silver, diminished value of their currencies. He states a market collapse will occur before the end of 2014, that the petroyuan will replace the petrodollar, and that a Chinese led New World Order will be in place for 2015. Is this possible? Where does the leader of the ‘New World Order’ come from? What does the Bible teach?
Alternative to the US Dollar in the Fall of 2015? Is the US dollar about to lose its dominance as the world’s reserve currency? Does the Bible teach anything about that? Could Porter Stansberry be correct that the International Monetary Fund will announce an alternative to the US dollar in the Fall of 2015? Do Does the IMF, European Union, BRICS (Brazil, Russia, India, China, and South Africa), and other groups want the US dollar dethroned? Are China and other nations doing something to try to make this happen? A written article of related interest is titled: Stansberry: US dollar replacement to be revealed October 20, 2015? What about 2016?
The ‘Harbinger’ and September 2015 Are you aware of many events that are to happen in 2015? These expected events include the end of military operation Jade Helm, a claimed end to a Shemitah year, Pope Francis speaking before US Congress, Pope Francis speaking before the United Nations, a planned UN proposal to recognize the State of Palestine, and the fourth of four ‘blood moons’ of 2014 & 2015. A written article of related interest is titled: September ‘convergence’: a harbinger of potential disaster?
When Will the Great Tribulation Begin? 2015, 2016, or 2017? 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 2014 o 2015? ¿Es el Tiempo de los Gentiles? You can also see the English language sermon video: The Great Tribulation from the Mount of Olives.
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
The Mark of Antichrist What is the mark of Antichrist? What have various ones claimed? Here is a link to a related sermon What is the ‘Mark of Antichrist’?
Mark of the Beast What is the mark of the Beast? Who is the Beast? What have various ones claimed the mark is? What is the ‘Mark of the Beast’?
World War III: Steps in Progress Are there surprising actions going on now that are leading to WWIII? Might a nuclear attack be expected? What about WWIV? Does the Bible promise protection to all or only some Christians? How can you be part of those that will be protected? A related video would be Is World War III About to Begin? Can You Escape?
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2021 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up?
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?
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.
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.
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? True religion should be based upon the true gospel.
Did The Early Church Teach Millenarianism? Was the millennium (sometimes called chiliasm) taught by early Christians? Who condemned it? Will Jesus literally reign for 1000 years on the earth? Is this time near? A related sermon is titled The Millennium.
Prophecies of Barack Obama? Reasons why Barack Obama is apocalyptic and reasons why Barack Obama is not the Antichrist. This article includes many biblical and non-biblical prophecies, from around the world, that seem to discuss Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? Might Barack Obama set the stage for the kings of the North and South as at least one Shiite prophecy suggests? Read it and decide for yourself if President Obama seems to be fulfilling various prophecies. Watch also the YouTube Barack Obama and the State of the Apocalypse.
Hillary Clinton in Prophecy Prophecy, Hillary Clinton? Are there prophecies that Hillary Clinton may fulfill? Are there any prophecies that she has already helped fulfill? Could Hillary Clinton be apocalyptic? Could Hillary Clinton be the final Antichrist? A video of related interest is titled Hillary Clinton and Bible Prophecy.