COGWA: IMF Warnings About USA Financial Risks

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

COGWA reported the following:

IMF Warns the U.S. About Economic Risks and the Looming “Fiscal Cliff”

by Mike Bennett – July 6, 2012…

Here is part of the concluding statement of the 2012 IMF Mission to the United States of America released July 3:

“The U.S. recovery remains tepid and subject to elevated downside risks, in light of financial strains in the euro area and uncertainty over domestic fiscal plans. Against this background, policies need to decisively tackle medium-term challenges while using the available room to support the recovery. Specifically, it is critical to ensure a pace of fiscal adjustment in the short run that is supportive of the recovery, removing the threat of a very large fiscal adjustment in 2013, and to adopt a credible medium-term plan restoring fiscal sustainability.”

This summary was followed by more detailed analysis and warnings.

Fiscal cliff

Telegraph.com reported July 3: “The fund added its voice to a rising chorus of concern that sharp political divides in Washington mean that the world’s biggest economy will fall off what has [been] dubbed a ‘fiscal cliff’ in less than six months time…”

Is America setting herself up for these deeper troubles? Whether or not America avoids the impending fiscal cliff, is she already tumbling over the edge of the moral cliff?

(My wife and I met Michael Bennett and his wife on a train in Italy after the Feast of Tabernacles in 1988.)

The Bible warns that the pride of power will be broken (Leviticus 26:19), and for the USA this apparently is not only referring to its military might, but its economic pride. The USA expects to end 2012 with a debt near over $16 trillion dollars. That is roughly $52,000 per citizen, $145,000 per taxpayer. And if you include all other future obligations, it is much, much worse.

Notice the following prophetic warning from the Bible:

3 For the vision is yet for an appointed time; But at the end it will speak, and it will not lie. Though it tarries, wait for it; Because it will surely come, It will not tarry…5 Indeed, because he transgresses by wine, He is a proud man… 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 2:3,5,6-8).

According to Bible prophecy, the end of the Anglo-dominance of the world is coming, and the final age of the Gentiles 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 before the start of the Great Tribulation.

It is not the rest of the world will not have their own issues, it just is that since they generally have not quite followed the USA, UK, and others into the debt creation machine to the same degree, they completely will fall apart later than the USA and UK does.

Speaking of finances, COGWA reported the following positive news about its own on 7/5/12:

Our income has exceeded expectations every month since we began this new fiscal year. One individual who works with our finances commented, “I would say we have been blessed beyond our hopes and dreams.”

FWIW, I have been waiting to see COGWA display audited financial statements showing where it spends its money. No, I am not trying to accuse them of fiscal impropriety, only I am interested in how much they spend for activities such as public proclamation of the gospel.

To learn more, please check out the following articles:

Concerns about Church of God, a Worldwide Association Known as COGWA, this seems to be the largest group that came out of the United Church of God. Here is some history and concerns about it. UCG’s former president Clyde Kilough and UK CEO Peter Hawkins are part of it.
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, British-English, 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?