ICG: USA on Brink of Economic Collapse; LCG Gives Another Reason Why

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

In his latest update, ICG’s Mark Armstrong wrote:

We knew the game of brinksmanship on the debt ceiling was coming. As the $14.3 trillion debt ceiling deadline approaches, it’s game on…

You’ve undoubtedly heard some of the posturing related to this situation. The president warned that Social Security checks may not be issued, and military personnel may go unpaid if Congress doesn’t agree to an increase the national debt. Both Moody’s and the S & P stand ready to lower the U.S. credit rating in the event of default.

If you believe some of the rhetoric employed by the politicians, we stand on the brink of economic collapse if trillions more in borrowings can’t be approved immediately… Are the threats of crisis and catastrophe real, or is it just a tactic for politicians to continue buying support from their favored constituents? At this point, there are no good answers and it’s hard to know what to hope for. The damage, it seems, has already been done and our nation will suffer the consequences.

If there should be some interruption in government funds to the entitlement class, look out. Demonstrating mobs won’t take long to assemble.

Now, to address one of his points, yes the threat of crisis and catastrophe are real. If the US dollar was not the world’s reserve currency, the short-term consequences of the current situation would be much worse than they already are. It is, however, the longer term consequences that should be considered.

Notice what God inspired the Prophet Habakkuk to write thousands of years ago, as well as some comments on it:

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).

The U.S. and the British-descended peoples have enjoyed living off the resources of the world, but the prophet Habakkuk warns: “… Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. Because you have plundered many nations, all the remnant of the people shall plunder you” (Habakkuk 2:7–8). (Winnail D. Sudden Calamities Ahead! Tomorrows’ World, Volume 10, Issue 5. Sept-Oct, 2008)

Regardless what many pundits say, the U.S.A. is dangerously at risk of staggering from a recession to a complete economic collapse in the coming years. Scripture warns that America and the British-descended nations (modern Jacob) will be consumed by our creditors, that this will lead to economic and literal slavery, and that this tragic collapse will happen suddenly and when many do not expect it (Isaiah 1:7, Habakkuk 2:7, I Thessalonians 5:3). Stock markets may temporarily recover, but “modern Jacob’s” future is written in scripture. Fundamentally, our economies are broken. But much more condemning is that our nations continue to reject God and His laws regarding marriage, Sabbath observance, sexual immorality, pagan holidays, murder, theft, lying, violence, and more. (Ciesielka W. From recession, to depression, to slavery. http://www.tomorrowsworld.org/cgi-bin/tw/commentary/tw-comm.cgi?category=Commentary1&item=1246907185)

It is the the United States and its Anglo-allies (like the UK) that have loaded pledges of debt in these end times that they really do not expect to pay back. The crisis is real, though I do not believe that the worst catastrophes can happen for several years. Deficit spending will cause bigger problems than even the experts who see it coming normally understand.

A Canadian author today had some interesting comments:

If a U.S. default does not last very long — that is, less than a few days — it would likely prove surprisingly bullish for Canada.But if the default extends itself longer, Canada would be dragged down after the United States into a catastrophic failure…Three quarters of Canada’s exports go to the United States… http://fullcomment.nationalpost.com/2011/07/16/david-frum-will-america%E2%80%99s-debt-crisis-have-canadian-aftershocks/

So, yes, other nations, specifically Canada, may be affected by the current situation. But even if it is resolved (which I and the above author suspect will happen), ultimately, I believe that Canada will share in the catastrophe coming to the USA.

In his commentary today, Charles Knowlton, of the Living Church of God, wrote about one reason that the USA is having debt problems:

How did such a rich country as the U.S. fall into such crushing financial debt? Somewhere in its history, a substantial number of its people quit giving of their best, and started to look out for how much they could take from their fellow Americans.

Certainly we must help the truly needy; God Himself taught Israel to make provision for assisting its widows and orphans and those who are genuinely poor and destitute (e.g. Deuteronomy 14:29; James 1:27). Today, in America, millions languish in unemployment—willing and eager but unable to find work. Shockingly, however, it is not uncommon to find other Americans who avoid work and instead hold out their hands for assistance, neglecting to do all they can to better their own condition.

God’s word, the Bible, is full of advice as to how we can prosper by using the abilities God has given us. We read: “Whatever your hand finds to do, do it with your might” (Ecclesiastes 9:10). In other words, whatever we set out to do, we should do it with all of our strength, heart, and ability. There was a time when explorers crossed a continent with that ideal in mind. Farmers tended crops with that ideal. Parents reared children with that ideal. People recognized the task at hand, however daunting it may have seemed, and they applied themselves to it with every bit of God-given energy they had.

In 1940, at an eighth-grade commencement ceremony, one speaker extolled the virtue of “Doing the best you can, with what you have, where you are.” This was before the U.S. became involved in World War II, at a time when the nation was still reeling from the Great Depression.

I remember that speech so clearly because I was there. Consider the three parts of the speaker’s exhortation. The first is to “do our best” the second is “with what we have” and the third is “where you are.”

There is a fine line between helping the needy and harming the lazy. A well-administered social safety net provides genuine help to those who cannot help themselves, but a feel-good “handouts” program can actually sap us of our motivation to “do our best.”

Historically, LCG has focused on more obvious sins, but the above is also a factor.

While I believe that the USA President and Congress will somewhat “paper-over” that nations more immediate crisis, the long term trend according to the detailed plans I have seen come from the Republican or Democratic politicians is to increase the total amount of USA debt. And while a couple of presidential candidates (Ron Paul comes to mind) indicate that they will not increase the debt, they have not released a detailed solution that I have seen that appears likely to be implemented.

The USA seems determined to increase debt, and there will be severe consequences down the line. The Great Tribulation (Matthew 24:21), the time of Jacob’s trouble (Jeremiah 30:7), will likely start in several years, and those who survive and have ignored the seriousness of the USA debt problem, will likely be shocked about how much of a catastrophe the debt will really bring on.

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?
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.
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?
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?
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?
End of Mayan Calendar 2012–Might 2012 Mean Something? Are there Mayan calendar predictions for change in 2012? Changes were centuries ago predicted by the Hopi Native Americans. Do Mayan/Hindu/Hopi/Buddhist/New Age/Nostradamus prophecies have any value here? Why might Satan have inspired this date? Does the Dresden codex show destruction of the earth by flood? Can the great tribulation start before 2012? How might Barack Obama be involved in 2012?