Saudi Arabia and China React to U.S. Credit Rating Drop

“I will break the pride of your power” (Leviticus 26:19)

The US credit rating drop seems to have triggered negative reactions in Saudi Arabia and China:

Saudi stock market first to plunge on S&P downgrade

Saudi Arabia’s stock market dropped 5.46pc on Saturday as it became the first exchange to react to the historic US credit downgrade.

Telegraph – Aug 6, 2011 http://www.telegraph.co.uk/finance/financialcrisis/8686045/Saudi-stock-market-first-to-plunge-on-SandP-downgrade.html

China attacks US debt ‘addiction’ after America loses AAA credit rating

China has rebuked the United States for its “addiction” debt and warned of further turmoil in financial markets after Standard & Poor’s stripped the world’s biggest economy of its AAA credit rating for the first time.

Telegraph – Aug 6, 2011 http://www.telegraph.co.uk/finance/financialcrisis/8685968/China-attacks-US-debt-addiction-after-America-loses-AAA-credit-rating.html

China is correct about the U.S.A.’s debt addiction. The pride of power of the US dollar is starting to be broken (cf. Leviticus 26:19).

National repentance is the only real long-term hope for the USA (and it seems to be too late for that), the political leadership in the USA has largely ignored that approach. The carnal “solutions” offered and agreed to by both political parties in the USA will not get it back on track economically. Its economy may appear to do better for a while, but in the long run, the USA does not have real solutions to its economic woes. There are carnal solutions that the USA could do now (mainly related to energy production) that could help extend the situation, but too many of its leaders have rejected God and have the type of “reprobate mind” that prevents them from seeing even those “convenient” options (cf. Romans 1:18-32, KJV). The debate I have heard from some politicians and pundits on the whole debt ceiling matter strongly suggests to me, at least, that many do not understand production, economics, job-creation, nor the Bible.

Few seem to tie the national legalization of abortions in the U.S.A. in 1973, the increased legalizations of homosexual marriages (e.g. NY Approves ‘Homosexual Marriage’ Law, but Does Not See the Handwriting on the Wall), and the Obama Administration’s decision to want to repeal the Defense of Marriage Act (see Obama Announces He Wants to Repeal Defense of Marriage Act and Increase Debt) as important factors in what is happening. But all of those, as well as the promotion of violence in the U.S.A. (including certain sports), as well as other sins, are factors behind what is happening.

Recession and debt are only symptoms:

43 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. 44 He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail. 45 Moreover all these curses shall come upon you and pursue and overtake you, until you are destroyed, because you did not obey the voice of the LORD your God, to keep His commandments and His statutes which He commanded you (Deuteronomy 28:42-45).

Notice specifically the following about the USA:

In real terms, as mentioned above, US growth in the 21st century seems to have fallen back to medieval levels. Why?…Because the economy failed to produce real growth. After 1973, wages, for example, adjusted for inflation, went nowhere. (Bonner B. Economic Growth in the Internet Age. Daily Reckoning, June 23, 2011)

Coincidence or curse?

Now, although these things are troubling, the end is not yet:

5 And Jesus, answering them, began to say: “Take heed that no one deceives you. 6 For many will come in My name, saying, ‘I am He,’ and will deceive many. 7 But when you hear of wars and rumors of wars, do not be troubled; for such things must happen, but the end is not yet. 8 For nation will rise against nation, and kingdom against kingdom. And there will be earthquakes in various places, and there will be famines and troubles. These are the beginnings of sorrows. (Mark 13:5-8)

At most, we are in what Jesus referred to as “the beginning of sorrows”, which precede the Great Tribulation (which will not start before 2015 and more likely a later year than that).

According to Bible prophecy, the end of the Anglo-dominance of the world is coming (Jeremiah 30:7), and the final age of the Gentiles (Luke 21:24) will be here in a relatively few years. The debt and other financial issues in the USA are indicators that not too many more years are left.

To learn more, please check out the following articles:

Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British, Scottish, Welsh, Australians, Anglo-Southern Africans, and New Zealanders descendants of Joseph? Where are the lost ten-tribes of Israel? Who are the lost tribes of Israel? Will God punish the U.S.A., Canada, United Kingdom, and other Anglo nations? Why might God allow them to be punished first?
Will the Anglo-Nations be Divided? Will the lands of the United States, United Kingdom, Canada, Australia, and New Zealand be divided? 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?
Prophecies of Barack Obama? Are there biblical and non-biblical prophecies about Barack Obama. Did Nostradamus predict Barack Obama dealing with the Antichrist? This is a lengthy article with many prophecies that Barack Obama may end up fulfilling.
Barack Obama, Prophecy, and the Destruction of the United States Some claim that Barack Obama is the prophesied “son of Kenya”. Might Bible prophecy be fulfilled by him?
Abortion, the Bible, and a Woman’s Right to Choose Do you know what the Bible teaches on this? Has the Roman Catholic Church allowed abortions? What about the Living Church of God?
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?
When Will the Great Tribulation Begin? 2011, 2012, or 2013? 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?
Is There A Future King of the South? Some no longer believe there needs to be. Might Egypt, Islam, Iran, Arabs, or Ethiopia be involved? Might this King be called the Mahdi? What does the Bible say?
The Arab and Islamic World In the Bible, History, and Prophecy The Bible discusses the origins of the Arab world and discusses the Middle East in prophecy. What is ahead for the Middle East and those who follow Islam? What about the Imam Mahdi? What lies ahead for Turkey, Iran, and the other non-Arabic Muslims?
China, Its Biblical Past and Future, Part 1: Genesis and Chinese Characters Where did the Chinese people come from? This article provides information showing that the Chinese peoples must have known about various accounts in the Book of Genesis up until their dispersion after the Tower of Babel.
China, Its Biblical Past and Future, Part 2: The Sabbath and Some of God’s Witness in China When did Christianity first come to China? And is there early evidence that they observed the seventh day sabbath?
Asia in Prophecy What is Ahead for Asia? Who are the “Kings of the East”? What will happen to nearly all the Chinese, Russians, Indians, and others of Asia? China in prophecy, where? Who has the 200,000,000 man army related to Armageddon?