Janet Yellen: Wrong on economy, wrong on abortion, but she is right that there is a debt problem
Janet Yellen (via Wikipedia)
Janet Yellen, US Secretary of the Treasury, is now trying to claim that abortion is good for the economy.
When Janet Yellen was the head of the US Federal Reserve, she said she believed that there would be no more financial crises “in our lifetimes”:
June 28, 2017
Responding to a question on financial system stability, Yellen said post-crisis regulations (and $2.5 trillion in excess reserves which just happen to be fungible and give the banks the impression that they are safe) had made financial institutions much “safer and sounder.”
“Will I say there will never, ever be another financial crisis? No, probably that would be going too far. But I do think we’re much safer and I hope that it will not be in our lifetimes and I don’t believe it will.”
Some were quick to compare this statement to Neville Chamberlain infamous – and very, very wrong – 1938 prediction of “peace in our time.”
Others drew comparisons to a similar bold prediction by Ben Bernanke, who in 2014 predicted during one of his $250,000/hour speeches that “rates would not normalize during my lifetime.”
Yet others, who noted Janet Yellen’s 70 years of age, asked her to “define our lifetime.” http://www.zerohedge.com/news/2017-06-27/yellen-i-dont-believe-we-will-see-another-crisis-our-lifetime
We are NOT much safer. We are on the precipice of economic destruction (cf. Habakkuk 2:6-8).
Here is a report about Janet Yellen, abortion, and the economy:
Yellen ‘demonstrably wrong’ on claim abortion helps economy
May 12, 2022
Treasury Secretary Janet Yellen recently proclaimed publicly that abortion helps the economy, and a decision by the Supreme Court striking Roe v. Wade and allowing states to regulate the industry would be harmful to the nation’s money issues.
But she’s “demonstrably wrong,” according to commentary writer Tiana Lowe, an economics graduate from USC and founder of the USC Economics Review, at the Washington Examiner.
The commentary explained, “Like the Confederates who settled on an economic argument to defend slavery rather than justify such a travesty on the principle of personhood, Yellen is not only avoiding a moral defense of the morally indefensible, but she is also demonstrably wrong.” …
“Population growth generally promulgates aggregate economic growth, but especially in an entitlement state such as ours, an at-replacement birth rate is crucial to avoid a deficit crisis,” she explained. https://www.wnd.com/2022/05/yellen-demonstrably-wrong-claim-abortion-helps-economy/
As far as debt goes, the USA went from being the leading creditor nation in the world to the biggest debtor nation in the history of humanity since it began to ‘legalize’ abortions. Despite the overthrow of Roe vs. Wade, the number of abortions in the USA looks to have increased, because since the original flawed Roe vs. Wade Supreme Court decision, the abortion industry in the USA expanded and has its tentacles deep in American society.
Several years ago, Chelsea Clinton (daughter of Bill and Hillary Clinton) said abortion was part of “social justice,” although those so aborted would not come to that conclusion. She also said, “Reproductive rights have always been economic rights,” while indicating that killing babies is some type of positive economic stimulus.
Notice the following:
13 “Behold, therefore, I beat My fists at the dishonest profit which you have made, and at the bloodshed which has been in your midst. 14 Can your heart endure, or can your hands remain strong, in the days when I shall deal with you? I, the Lord, have spoken, and will do it. 15 I will scatter you among the nations, disperse you throughout the countries, and remove your filthiness completely from you. (Ezekiel 22:13-15)
Any economic “benefit” from abortion is at best a dishonest profit from bloodshed. This will not end well for the USA.
As far as the economy goes, there are many things to consider.
Notice one other example:
Real Hourly Wages Have Risen Less Than a Penny a Year Since 1973
January 5, 2022
- In nominal terms, the production and nonsupervisory worker made $4.05 per hour in 1973. Today that worker makes $26.40 per hour.
- Accounting for inflation, using 1982-1984 as the base rate, a worker made $9.38 in 1973 and makes only $9.63 per hour today.
- In 48 years, real wages have risen $0.25. That’s just over half a penny per hour each year.
- Between 1964 and 1973 workers came out ahead. Since then it’s practically $0 and that assumes you believe the CPI is not understated.
https://mishtalk.com/economics/real-hourly-wages-have-risen-less-than-a-penny-a-year-since-1973
Since the Consumer Price Index (CPI) has been understating inflation, the situation is worse than the above suggests.
Abortion is not good for the economy–nor the longevity of the USA.
Now notice some comments from Janet Yellen and the debt of the USA:
Janet Yellen “Sorry” After Presiding Over $15 Trillion Increase In US Debt
December 13, 2024
Something funny happened in late November.
Outgoing Treasury Secretary, and former Fed chair and vice chair, Janet Yellen said that she spoke with Donald Trump’s nominee to be her successor, Scott Bessent, after he was selected for the job. During a Tuesday event organized by the WSJ, Yellen said that in a call before Thanksgiving, she told Bessent, a veteran hedge-fund manager, about the breadth of the job and strength of the department’s staff. …
Yellen also expressed regret over failing to make more progress in narrowing the fiscal deficit during her tenure.
“I am concerned about fiscal sustainability and I am sorry that we haven’t made more progress,” she said adding that “I believe that the deficit needs to be brought down especially now that we’re in an environment of higher interest rates.”
This is really funny for two reasons.
First, it was under Yellen’s watch that the US experienced its biggest debt increase in history. … under Yellen total US debt increased by $6.8 trillion while she was Fed Chair/vice-Chair and then another $8.4 trillion while she has been Biden’s Treasury Secretary. …
The second reason why Yellen’s words are a laughable grotesque, is that as we showed earlier, in its final days, the Biden administration – which is best known for spending trillions to buy votes in the US (and inexplicably, in the Ukraine) – has decided to go out with a bang, and at a time when government spending is hitting new record high month after month, even as US tax revenue has flatlined for the past five years…
Meanwhile, US interest expense is now $1.2 trillion, the second largest government outlay surpassing defense and health spending, and is just one debt crisis and/or interest rate spike away from exceeding Social Security spending as the largest government outlay for the world’s most indebted government.
So yes, Janet, we too are “sorry”… sorry that under your various official tenures the US took irrevocable steps to losing the world’s reserve currency (don’t believe us, just as gold and bitcoin), and sorry that the US is just a few months away from the biggest financial crisis in history. https://www.zerohedge.com/markets/janet-yellen-sorry-after-presiding-over-15-trillion-increase-us-debt
Unsustainable: Yellen resigns, leaving behind over $36 TRILLION in debt — the highest in U.S. history
December 13, 2024
– The federal deficit has reached unsustainable levels, with the U.S. national debt surpassing $36 trillion, largely due to reckless fiscal policies under the Biden administration.
– Treasury Secretary Janet Yellen acknowledged concerns over the lack of progress in reducing the deficit, admitting that the deficit needs to be brought down amid rising interest rates.
– The Biden administration’s fiscal approach, including $3 trillion in economic stimulus, led to runaway inflation and a ballooning deficit, with interest expenses now exceeding defense and health spending.
– The incoming Trump administration, with Treasury Secretary nominee Scott Bessent, aims to prioritize fiscal responsibility, focusing on reducing government spending, reforming entitlement programs, and promoting sustainable economic growth.
– The U.S. faces an urgent need to address its fiscal crisis to avoid a future debt crisis, with the Trump administration tasked with restoring fiscal sanity and rebuilding public trust in responsible financial management.
As the Trump administration prepares to take the reins of government, the nation faces a stark and urgent reality: The federal deficit has ballooned to unsustainable levels, threatening the long-term stability of the U.S. economy. …
Yellen herself has acknowledged the gravity of the situation, expressing concern over the lack of progress in reducing the deficit. During a recent event organized by the Wall Street Journal, she stated, “I am concerned about fiscal sustainability and I am sorry that we haven’t made more progress. I believe that the deficit needs to be brought down, especially now that we’re in an environment of higher interest rates.” …
Under Yellen’s watch, the U.S. debt increased by an astonishing $15.2 trillion, representing 42% of all U.S. debt ever issued. …
The U.S. cannot afford to continue down the path of unsustainable debt accumulation. https://www.naturalnews.com/2024-12-13-yellen-leaves-36-trillion-debt-highest-us-history.html
Janet Yellen was not a voice crying out against debt. Now that she is leaving her post, she brings it up.
She should have PUBLICLY voiced debt concerns over her time in office. But she did not, instead she basically helped the politicians increase debt.
That brought to mind the following scriptures:
12 As for My people, children are their oppressors,
And women rule over them.
O My people! Those who lead you cause you to err, And destroy the way of your paths (Isaiah 3:12).16 For the leaders of this people cause them to err, And those who are led by them are destroyed (Isaiah 9:16).
The Bible warns about debt and disobedience:
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…47 “Because you did not serve the LORD your God with joy and gladness of heart, for the abundance of everything, 48 therefore you shall serve your enemies, whom the LORD will send against you, in hunger, in thirst, in nakedness, and in need of everything; and He will put a yoke of iron on your neck until He has destroyed you. 49 The LORD will bring a nation against you from afar, from the end of the earth, as swift as the eagle flies, a nation whose language you will not understand, 50 a nation of fierce countenance, which does not respect the elderly nor show favor to the young. 51 And they shall eat the increase of your livestock and the produce of your land, until you are destroyed; they shall not leave you grain or new wine or oil, or the increase of your cattle or the offspring of your flocks, until they have destroyed you. 52 They shall besiege you at all your gates until your high and fortified walls, in which you trust, come down throughout all your land; and they shall besiege you at all your gates throughout all your land which the LORD your God has given you (Deuteronomy 28:43-45,47-52).
13 And the Lord said, “Because they have forsaken My law which I set before them, and have not obeyed My voice, nor walked according to it, 14 but they have walked according to the dictates of their own hearts…16 I will scatter them also among the Gentiles, whom neither they nor their fathers have known. And I will send a sword after them until I have consumed them.” (Jeremiah 9:13,14a,16)
The US is doomed unless there is national repentance.
Now, you may wish to read and re-read something that the prophet Habakkuk was inspired to write over 2600 years ago:
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. Because of men’s blood And the violence of the land and the city, And of all who dwell in it. (Habakkuk 2:3,5,6-8).
9 “Woe to him who covets evil gain for his house, That he may set his nest on high, That he may be delivered from the power of disaster! 10 You give shameful counsel to your house, Cutting off many peoples, And sin against your soul. 11 For the stone will cry out from the wall, And the beam from the timbers will answer it. (Habakkuk 2:9-11)
The above prophecy points to doom. And it will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come,” Daniel 10:1,14). Daniel 8:19, 11:27,29,35 use the same Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently.
The Trump Administration will not be able to stop Habakkuk 2:6-8 from being fulfilled.
Some items of possibly related interest may include:
Lost Tribes and Prophecies: What will happen to Australia, the British Isles, Canada, Europe, New Zealand and the United States of America? Where did those people come from? Can you totally rely on DNA? Do you really know what will happen to Europe and the English-speaking peoples? What about the peoples of Africa, Asia, South America, and the islands? This free online book provides scriptural, scientific, historical references, and commentary to address those matters. Here are links to related sermons: Lost tribes, the Bible, and DNA; Lost tribes, prophecies, and identifications; 11 Tribes, 144,000, and Multitudes; Israel, Jeremiah, Tea Tephi, and British Royalty; Gentile European Beast; Royal Succession, Samaria, and Prophecies; Asia, Islands, Latin America, Africa, and Armageddon; When Will the End of the Age Come?; Rise of the Prophesied King of the North; Christian Persecution from the Beast; WWIII and the Coming New World Order; and Woes, WWIV, and the Good News of the Kingdom of God.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection; here is a message in Spanish: Me Está Llamando Dios Hoy? A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? Two related sermons about this are also available: Real Repentance and Real Christian Repentance.
About Baptism Should you be baptized? Could baptism be necessary for salvation? Who should baptize and how should it be done? Here is a link to a related sermon: Let’s Talk About Baptism and Baptism, Infants, Fire, & the Second Death.
When Will the Great Tribulation Begin? 2024, 2025, or 2026? 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? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Tribulation in 2024? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.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. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and 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? A related sermon is also available: The Bible, the USA, and the King of the West.Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is are links to related sermons: Christian Election: Is God Calling YOU? and Predestination and Your Selection. A short animation is also available: Is God Calling You?
Spiritual Samaritans: Old and New Who were the Samaritans? Do the represent true Christianity or something else? Here is a link to a related sermon: USA in Prophecy: Samaria.
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 real Church of God? Some may wish to view the YouTube videos: Abortion and Birth Control: History and Scriptures. Abortion, the Bible, and US Debt, American Infanticide, Euthanasia: Mercy killing or murder?, and Land of ‘Free’ Abortions and Debt.
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? A related sermon is also available: The Bible, the USA, and the King of the West.
Who is the King of the North? Is there one? Do biblical and Roman Catholic prophecies for the Great Monarch point to the same leader? Should he be followed? Who will be the King of the North discussed in Daniel 11? Is a nuclear attack prophesied to happen to the English-speaking peoples of the United States, Great Britain, Canada, Australia, and New Zealand? When do the 1335 days, 1290 days, and 1260 days (the time, times, and half a time) of Daniel 12 begin? When does the Bible show that economic collapse will affect the United States? In the Spanish language check out ¿Quién es el Rey del Norte? Here are links to two related videos: The King of the North is Alive: What to Look Out For and The Future King of the North.
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. Two related sermon are available: Identifying the USA and its Destruction in Prophecy and Do these 7 prophesies point to the end of the USA?
When Will the Great Tribulation Begin? 2022, 2023, or 2024? 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? A related video is: Great Tribulation: 2026 or 2027? A shorter video is: Can the Great Tribulation start in 2022 or 2023? Here is a video in the Spanish language: Es El 2021 el año de La Gran Tribulación o el Grande Reseteo Financiero.
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