‘A trillion here, a trillion there …’ ‘We Destroyed the World’s Greatest Economy for No Reason’
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Consider the following:
A trillion here, a trillion there…
October 20, 2020
Sometime during the 1960s, it is said, Dirksen warned against apathy regarding the national debt by commenting, “A billion here and a billion there, and pretty soon, you’re talking real money.”
But the B-word means nothing in Washington, these days. Now, it’s a trillion here, a trillion there … and still, no one seems to be worried.
A few people are. They warn that the national debt is a millstone around the necks of our children and grandchildren. Allowing it to continue increasing will have profoundly detrimental effects not just in government, but for each and every American.
Last week, the official national debt passed $27 trillion. When Dirksen died in 1969, it was just $354 billion.
It is true that much of the debt’s growth this year has been due to COVID-19. …
A trillion here, a trillion there …
Pretty soon, we’ll be talking a real catastrophe. https://www.marshallindependent.com/opinion/editorials/2020/10/a-trillion-here-a-trillion-there/
Yes, a real catastrophe is coming.
Jim Rickard posted the following at his Daily Reckoning site:
We Destroyed the World’s Greatest Economy for No Reason
Everyone knew the second quarter of 2020 was going to be a disaster, and it was. The U.S. economy fell by 31.4% (annualized) in the second quarter. …
The lockdown continues in many places. The virus has not gone away, and the caseload and fatalities continue to grow.
A second wave of layoffs has now begun as companies that were able to hang on thanks to Payroll Protection Plan loans find that the money has run out, and their businesses are still closed. They are now being forced to let go of workers who might have survived the first layoffs in March and April.
So the letter to describe the recovery isn’t a “V” or even an “L” but possibly a “W,” with another recession right around the corner.
Beyond the second wave of layoffs, there is a persistent problem of the long-term unemployed whose businesses are shut down or dead in the water with no prospect of any return of demand.
This is a combination of factors the economy has not seen since the 1930s. It’s worse than a technical recession, it’s a depression, and its effects will be felt for years, or even decades, to come.
When Will Output Return To 2019 Levels?
The U.S. will not regain 2019 output levels until at least 2022, and growth going forward will be even worse than the weakest-ever growth of the 2009–2020 recovery. …
90% of Lockdown Benefits at Only 10% of the Cost
Many top scientists agree that lockdowns don’t work. The virus will spread with or without a lockdown. Some measures make sense such as washing hands, keeping social distance and wearing masks in crowded spaces.
But there’s no evidence masks do any good at all when the wearer is alone, outdoors or at a reasonable distance from others.
We could have followed these basic rules and gotten 90% of the benefit of a lockdown at only 10% of the cost.
Those supporting lockdowns have ignored the costs of increased suicides, drug abuse, alcohol abuse, domestic violence and the depression and anxiety that result from lack of social interaction. There was never a good reason to close every bar, restaurant, salon, boutique and public space.
“We Destroyed the World’s Greatest Economy for No Good Reason”
10/12/20 https://dailyreckoning.com/we-destroyed-the-worlds-greatest-economy-for-no-reason/
Yes, the debt is serious.
Yes, the economic hits did not have to be this severe because of COVID-19.
No, increasing debt more is NOT the solution, yet that is what is expected–no matter who wins the USA presidential election (though the amount of increase is likely to be less if one of them wins than the other).
Some believe that the ‘solution’ to the debt situation with the USA is a ‘financial reset.’ We put out a video on our Bible News Prophecy YouTube channel about that:
Financial Reset by 2022?
Euro Pacific Capital CEO says the US economy is about to crash because of debt. US National Security Adviser John Bolton declared debt as a threat to society. Forbes writer John Mauldin says that a financial reset is expected in the 2020s, as does Willem Middelkoop, who believes gold may be part of a reset. Morgan Stanley believes the end of the current economic cycle may be in 2021. MIT pointed to changes in the 2020s. How much debt does the USA add daily? Does any of this tie in with biblical prophecies? Does Habakkuk 2 have applicability to the USA? Is it wise to try to discount debt and not pay it back in full? Dr. Thiel addresses these issues in the light of scripture.
Here is a link to the sermonette video: Financial Reset by 2022?
The Bible has an end time prophecy that those who read it may want to run:
2 Then the Lord answered me and said:
“Write the vision
And make it plain on tablets,
That he may run who reads it.
3 For the vision is yet for an appointed time;
But at the end it will speak, and it will not lie. (Habakkuk 2:2-3)
What is this end time prophecy about that should cause people to run? It is a prophecy about debt accumulation:
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?
Will they not awaken who oppress you?
And you will become their booty.
8 Because you have plundered many nations,
All the remnant of the people shall plunder you (Habakkuk 2:6-8)
Which nation is the most indebted in the history of humanity?
The USA!
The prophecy in Habakkuk is NOT about the tiny nation calling itself Israel. While it has many enemies, it does not significant debt with enemy nations–but the USA does.
The reality is that the time will come when the US dollar is totally worthless–and its debt practices are setting the stage. USA debt is also helping set the stage for another currency to replace the USA dollar as the world’s primary reserve currency.
Notice something from my book Donald Trump and America’s Apocalypse:
A modern reality is that being the world’s de facto reserve currency has helped prolong the U.S.A.’s dominance.
When the U.S. dollar is no longer the world’s reserve currency, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the U.S.A. for (cf. Ezekiel 22:13-16).
Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, but not yet, the U.S.A. dollar will become worthless.
Will it always be straight downhill for the economy of the U.S.A.?
No.
There are some reasons to have some temporary optimism. The longer there is some economic stagnation in parts of the economy, the more demand tends to build up, and an increase in demand may prolong the economy. In addition, technological and other developments may temporarily support the U.S. economy—as can reductions of regulatory burdens.
Some policies of Donald Trump may help. The stock market in the U.S.A. responded favorably in the weeks after the election of Donald Trump. Various ones see his policies and his cabinet selections as a refreshing pro-business change that will fuel economic growth, investment, and prosperity (Dalio R. Reflections on the Trump Presidency, One Month after the Election. December 19, 2016 https://www.linkedin.com/pulse/reflections-trump-presidency-one-month-after-election-ray-dalio).
For years, I have written that because of improvements in various aspects of energy and other technology (some of which Donald Trump seems to support), the U.S.A. may experience even more of an energy export boom, such as with oil and natural gas, etc. that may prolong its days of economic prosperity. But prolonging is likely all that is possible as its destruction is prophesied (Daniel 11:39; Habakkuk 2:6-8).
Notice what was told to a king whose was prophesied to lose his kingdom:
27 Therefore, O king, let my advice be acceptable to you; break off your sins by being righteous, and your iniquities by showing mercy to the poor. Perhaps there may be a lengthening of your prosperity. (cf. Daniel 4:27)
Repentance can prolong prosperity, but promotion of sin leads to destruction. …
Since many are now questioning the role of the US dollar as the world’s reserve currency, more are looking into other currencies as well as gold. Gold will set records in US dollar terms.
It has been proposed that various nations around the world are already in the process of accumulating gold to one day overthrow the U.S. dollar—and that the “U.S. is unprepared for this strategic alternative to dollar dominance” (Rickards J. Axis of Gold. The Daily Reckoning, December 20, 2016).
When the U.S. dollar totally collapses people all around the world will consider that even if the Euro (or something similar) is strong, having a more gold-backed currency would be safer.
The collapse of the USA dollar will shake a lot of the world’s confidence in non-gold backed currencies.
The Europeans do not have to have a perfect currency, only one that is perceived to be in better shape than the USA dollar.
Having the European power acquiring more gold to back the Euro or possibly another future European currency (that might potentially replace the Euro or even a basket of currencies) may greatly increase European credibility, prosperity, and influence around the globe, even if the backing is only implied.
The debt accumulation policies of the Obama Administration, which are a massive acceleration of the previous policies of the Bush Administration, look like they will be continued by Donald Trump.
The increases in America’s debt are heading the world into the time when something other than the U.S. dollar will be valued as its reserve currency.
A Donald Trump Administration would need to make massive changes to possibly prevent this.
The USA and its dollar are at serious risk. (Thiel B. Donald Trump and America’s Apocalypse. Nazarene Books, 2017)
The Bible shows that a powerful international economic leader will arise (cf. Revelation 18) and it will NOT be the USA.
The USA, after having financial and other troubles (Mark 13:6-8), will finally be taken over. Not just financially, but according to the Bible militarily. Normally I would just quote Daniel 11:39, but this time let’s first look at two earlier verses:
23 And after the league is made with him he shall act deceitfully, for he shall come up and become strong with a small number of people. 24 He shall enter peaceably, even into the richest places of the province; and he shall do what his fathers have not done, nor his forefathers: he shall disperse among them the plunder, spoil, and riches; and he shall devise his plans against the strongholds, but only for a time. (Daniel 11:23-24)
The ‘he’ is the final European King of the North power, called the Beast of the Sea in Revelation 13:1-10. Notice that he gets in deceitfully and makes plans against “the strongholds.” Notice what Daniel says this leader will later do:
39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain. (Daniel 11:39)
In the 21st century, the strongest fortresses belong to the USA and to a much lessor extent, its Anglo-Saxon descended allies. And while some do not believe that America’s European friends could betray it, the Bible teaches otherwise:
1 How lonely sits the city
That was full of people!
How like a widow is she,
Who was great among the nations!
The princess among the provinces
Has become a slave!2 She weeps bitterly in the night,
Her tears are on her cheeks;
Among all her lovers
She has none to comfort her.
All her friends have dealt treacherously with her;
They have become her enemies. (Lamentations 1:1-2)
The USA and Great Britain (including its Anglo-Commonwealth members, like Australia and Canada) were “great among the nations.” And the Bible is clear that betrayal is coming from national FRIENDS!
That betrayal will result in the complete end of USA dominance in the world.
Politicians will NOT be able to save the USA, nor its Anglo-Saxon descended allies (UK, Canada, Australia, and New Zealand).
Politicians have increased the USA debt, unnecessarily harmed the economy of the USA because of COVID policies, and do not have a real solution. Consider the following prophecy:
16 For the leaders of this people cause them to err, And those who are led by them are destroyed (Isaiah 9:16).
The total end of the USA will happen.
The USA needs national repentance and the Kingdom of God.
Some items of possibly related interest may include:
Financial Reset by 2022? Euro Pacific Capital CEO says the US economy is about to crash because of debt. US National Security Adviser John Bolton declared debt as a threat to society. Forbes writer John Mauldin says that a financial reset is expected in the 2020s, as does Willem Middelkoop, who believes gold may be part of a reset. Morgan Stanley believes the end of the current economic cycle may be in 2021. MIT pointed to changes in the 2020s. How debt does the USA add daily? Does any of this tie in with biblical prophecies? Does Habakkuk 2 have applicability to the USA? Is it wise to try to discount debt and not pay it back in full? Dr. Thiel addresses these issues in the light of scripture. This is a video.
COVID 19 is NOT the End, but could it be TEOTWAWKI? The novel coronavirus called COVID-19 is wreaking havoc around the world. Many states of the USA as well as countries in Europe are on lockdown with shelter in place /shelter in residence requirements. In France, a form is required when you are not at your house. In Spain, drones are being used to warn people who are outside to got back to their homes–does that bring up feelings of ‘Big Brother’? Italy, France, and other areas are using police and/or military force to encourage people to stay inside. According to the Bible could this be the end? If not, what has to happen first? Have the second and third of the four horsemen of the Apocalypse started their ride? Could COVID-19 be the fourth horseman? Why or why not? Could we be seeing The End of the World as We Know It (TEOTWAWKI) like the R.E.M.’s 1987 single song discussed? Do Christians need to fear? What did Jesus teach? What did the Psalmist teach? This is a video. Here is a link to a version in the Spanish language: Corona 19 no es el final PERO es el TEOTWAWKI.
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.
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?
Who is the King of the West? Why is there no Final End-Time King of the West in Bible Prophecy? Is the United States the King of the West? Here is a version in the Spanish language: ¿Quién es el Rey del Occidente? ¿Por qué no hay un Rey del Occidente en la profecía del tiempo del fin?
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.
Preparing for the ‘Short Work’ and The Famine of the Word What is the ‘short work’ of Romans 9:28? Who is preparing for it? Here is a link to a related video sermon titled: The Short Work.
The Final Phase of the Work What is the final phase of the work? Who will lead it? Do you have the courage to support it? Here is a related YouTube video titled The Final Phase of the Work. The written article has been translated into Spanish La Fase Final de la Obra.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
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? 2028 or or 2031 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
The Great Tribulation: What Happens First? What events have happened? What are some events that are now happening? And what events need to happen for the Great Tribulation to start? Here is a link to a related sermon video: Counting Down to the Great Tribulation.
When Will the Great Tribulation Begin? 2020, 2021, or 2022? 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 la Gran Tribulación comenzar en el 2020 o 2021? ¿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 and newer video is: Could the Great Tribulation Begin in 2020? Here is a link to the Spanish version of that video: ¿Podría la Gran Tribulación comenzar en 2020?
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.
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?
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is a link to a related sermon: Could God be Calling You? A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
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.
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.
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.
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.
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