MS: Now Even The Elite Are Openly Admitting That America Is Facing An Absolutely Enormous Economic Crisis
.@SecYellen on inflation being transitory: “I was wrong then about the path that inflation would take. As I mentioned, there have been unanticipated and large shocks to the economy […] that I, at the time, didn’t fully understand.” https://t.co/AlrXn4kT0r pic.twitter.com/9tqxo0iA3B
— The Hill (@thehill) June 1, 2022
CNN reported the following:
June 2, 2022
Prices are rising for just about everything, forcing millions of Americans to make increasingly difficult choices.
More than 8 in 10 consumers are planning to rethink or even reduce their product spending in the next three to six months, according to a new report from market research firm The NPD Group. “There is a tug-of-war between the consumer’s desire to buy what they want, and the need to make concessions based on the higher prices hitting their wallets,” said Marshal Cohen, chief retail industry advisor for NPD. https://www.cnn.com/2022/06/02/economy/inflation-impact-consumer-behavior/index.html
Yes, the US and other parts of the world are facing inflation and more economic troubles.
Michael Snyder posted the following:
Now Even The Elite Are Openly Admitting That America Is Facing An Absolutely Enormous Economic Crisis
June 1, 2022
Not too long ago, the elite were trying to put a happy face on our growing economic problems. … Needless to say, there were dead wrong, and now some of them are publicly admitting the truth. For example, JPMorgan Chase CEO Jamie Dimon just publicly stated that an economic “hurricane” is rapidly approaching…
Jamie Dimon is no meteorologist, but the JPMorgan Chase CEO is predicting an economic “hurricane” caused by the war in Ukraine, rising inflation pressures and interest rate hikes from the Federal Reserve.
“Right now it’s kind of sunny, things are doing fine. Everyone thinks the Fed can handle this,” Dimon said at a Bernstein conference. “That hurricane is right out there down the road coming our way.”
JPMorgan Chase is one of the most important financial institutions in the entire world.
So it is a really big thing for Dimon to make a statement like this.
Of course he is right on target. An economic hurricane is coming, and it is going to be far more horrible than most Americans could possibly imagine right now.
Treasury Secretary Janet Yellen also just said something that is making a lot of headlines.
Last year she insisted that high inflation would just be “transitory”, but now she is openly admitting that she “was wrong”…
And we have already been seeing food prices spike dramatically. Just check out these numbers from April…
Food grains—including corn and wheat—were up 2.8 percent for the month and 45 percent compared with a year ago. Feed grain prices increased 7.8 percent from the prior month and 33 percent from a year ago.
The poultry and egg index jumped 22 percent from March and 94 percent from a year earlier. The April market egg price, at $2.21 per dozen, is 81.0 cents higher than March and $1.64 higher than April 2021. The price of chickens raised for meat, at $1.05 per pound, is 15.3 cents higher than March and 49.7 cents higher than a year ago. At 95.3 cents per pound, the April turkey price is 2.5 cents higher than the previous month and 18.5 cents higher than April 2021.
Milk prices climbed 4.12 percent in April and are up 47 percent compared with a year earlier.
In the entire history of our nation, we have never seen anything like this.
But as I keep warning my readers, this is just the beginning.
In fact, one prominent Texas farmer is warning that food prices “are going to double”…
“People don’t realize what’s fixing to hit them,” said Texas farmer Lynn “Bugsy” Allen.
“They think it’s tough right now, you give it until October. Food prices are going to double.”
Can you imagine that?
Can you imagine what it will do to our country if food prices double from their already extremely inflated levels?
People will go absolutely bananas. http://theeconomiccollapseblog.com/now-even-the-elite-are-openly-admitting-that-america-is-facing-an-absolutely-enormous-economic-crisis/
Sadly, people like Janet Yellen are political hacks. She is female, has the right degrees, and holds what some consider to be the correct political views, but she is not truly competent on economic matters.
Last month, she even falsely claimed abortion was good for the economy (see WND: Yellen ‘demonstrably wrong’ on claim abortion helps economy).
When she was the head of the US Federal Reserve, Janet Yellen said she believed that it is possible that there will 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
Ridiculous.
Here is some of what I posted about the above back in 2017:
We are NOT much safer. While it is possible that Janet Yellen will die before the start of the Great Tribulation, her implication is that the Federal Reserve knows enough now and has enough financial controls to prevent financial crises for at least the next sixteen years (I said sixteen years because the normal life expectancy for a 70 year old white female in the USA is 16.4 additional years per http://life-span.healthgrove.com/l/71/70). But if she meant her audience, then it may be she is asserting that she does not believe a financial crisis can happen for several decades. This is an arrogant belief.
The Bible teaches:
18 Pride goes before destruction, And a haughty spirit before a fall. (Proverbs 16:18)
It is prideful arrogance that gets humans to think that they can essentially completely control the economy. They cannot. Weather, political events, diseases, wars, morality, technology, and other factors play a role.
Plus, there is also the matter of debt accumulation by the USA and biblical prophecy.
Notice an end-time prophecy given to the prophet Habakkuk by God over 2600 years ago:
2 And the Lord answered me:
“Write the vision;
make it plain on tablets,
so he may run who reads it.
3 For still the vision awaits its appointed time;
it hastens to the end—it will not lie.
If it seems slow, wait for it;
it will surely come; it will not delay.4 “Behold, his soul is puffed up; it is not upright within him,
but the righteous shall live by his faith.5 “Moreover, wine is a traitor,
an arrogant man who is never at rest.
His greed is as wide as Sheol;
like death he has never enough.
He gathers for himself all nations
and collects as his own all peoples.”6 Shall not all these take up their taunt against him, with scoffing and riddles for him, and say,
“Woe to him who heaps up what is not his own—
for how long?—
and loads himself with pledges!”
7 Will not your debtors suddenly arise,
and those awake who will make you tremble?
Then you will be spoil for them.
8 Because you have plundered many nations,
all the remnant of the peoples shall plunder you,
for the blood of man and violence to the earth,
to cities and all who dwell in them. (Habakkuk 2:2-8; English Standard Version)The USA is the most indebted nation in the history of humanity and those in it should try to understand this prophecy. Perhaps it should be noted that the United Kingdom seems to have the second highest amount of total debt (about 1/2 that of the USA).
The Anglo-American world order will come to an end. Accumulation of debt, and then having to pay historically ‘normal’ interest rates will strain the national economies of the USA and UK more than almost anyone will believe. It will be a financial crisis beyond what Janet Yellen would consider possible.
Those who think the current world order with the USA’s dollar on top will last several decades are in error.
Those who will believe the Bible will take the words that God spoke to the prophet Habakkuk seriously. …
Do not believe that there will not be anymore financial crises. (Thiel B. Janet Yellen does not believe that there will be another financial crisis ‘in our lifetimes’. COGwriter, June 28, 2017)
What we are starting to see now is nothing compared to how bad it will get in the USA.
Michael Snyder also posted the following:
June 1, 2022
All of a sudden, just about everyone is upset about inflation. It would have been nice if everyone would have been this upset back when our leaders were making the exceedingly foolish decisions that resulted in this crisis. In May 2012, the federal government was 15 trillion dollars in debt. Now we are 30 trillion dollars in debt, but our politicians continue to spend money as if tomorrow will never come. Meanwhile, the Federal Reserve has pumped trillions of dollars that they created out of thin air into the financial system in recent years. For a very long time, I passionately denounced what our leaders were doing, because I knew what would happen. Now a day of reckoning has arrived, and millions upon millions of Americans are absolutely desperate for things to return to normal. Unfortunately, that simply is not going to happen. http://themostimportantnews.com/archives/are-you-upset-about-inflation-if-so-you-arent-alone
While, like Michael Snyder, I have warned about increasing debt setting the stage for inflation, the ‘day of reckoning’ has not yet arrived. We are only seeing the ‘beginning of sorrows’ and ‘troubles’ as Jesus pointed out in Mark 13:8.
A financial crisis, along with military defeat, will come to the USA (Daniel 11:39) and its Anglo-Saxon descended allies (Isaiah 17:3).
As Habakkuk 2:6-8 states, debt will be a factor and the highly-indebted USA will be defeated militarily.
What will happen will be far worse that Janet Yellen and most politicians (like Joe Biden who appointed her Secretary of Treasury) believe is possible.
Repentance is needed. The USA and its Anglo-Saxon allies will not last to the end of this century.
Some items of possibly related interest include the following:
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 is a link to a video titled: The Future King of the North.
The Great Monarch: Biblical and Catholic Prophecies Is the ‘Great Monarch’ of Catholic prophecies endorsed or condemned by the Bible? Two sermons of related interest are also available: Great Monarch: Messiah or False Christ? and Great Monarch in 50+ Beast Prophecies.
Physical Preparation Scriptures for Christians. We all know the Bible prophecies famines. Should we do something? Here is a version in the Spanish language Escrituras sobre Preparación física para los Cristianos. Here is a link to a related sermon: Physical preparedness for Christians.
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-Celtic 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?
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. A sermon of related interest is also available: Canada in Prophecy.
Australia and New Zealand in Prophecy Do biblical prophecies help explain the wealth blessings for Australia and New Zealand? Might cursings from disobedience come in the 21st century? Here is a link to a related sermon: Australia and New Zealand: Origins and Prophecy.
Might the U.S.A. Be Gone by 2028? Are there prophetic reasons to believe that the USA will not last two complete presidential terms? Yes. There is a tradition attributed to the Hebrew prophet Elijah that humanity had 6,000 years to live before being replaced by God’s Kingdom. There are scriptures, writings in the Talmud, early Christian teachings that support this. Also, even certain Hindu writings support it. Here is a link to a related video: Is the USA prophesied to be destroyed by 2028? In Spanish: Seran los Estados Unidos Destruidos en el 2028?
Biden-Harris: Prophecies and Destruction Can the USA survive two full presidential terms? In what ways are Joe Biden and Kamala Harris apocalyptic? This book has hundreds of prophecies and scriptures to provide details. A Kindle version is also available 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 your free Kindle reader app (or if you already have one or a Kindle), you can go to: Biden-Harris: Prophecies and Destruction (Kindle) to get the book in seconds.
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?
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.
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