‘Rising Debt Triggers Growing Alarm, Especially for Poorer Nations’ COVID-19 blamed
(Pixabay picture)
Notice the following about debt:
Rising Debt Triggers Growing Alarm, Especially for Poorer Nations
January 5, 2021
How are countries going to cope with the sea of pandemic-related debt — will they drown in it?
Lockdowns and coronavirus restrictions have caused some government revenues to collapse at the same time public spending increases to try to save jobs and livelihoods. Poor and developing countries are the hardest hit, but even rich, powerful nations are straining to cope with the economic wreckage being wrought by a coronavirus that’s transforming the economic prospects of the world.
Last year, the governor of the Bank of England, Andrew Bailey, acknowledged publicly that the British government came close to insolvency because private investors did not want to buy its bonds, something almost unheard of for Britain. The bank was forced to step in to purchase $270 billion longer-term securities from the open market. In short, one arm of the British government borrowed to lend to another.
The pandemic’s financial cost is similar to that of a world war, say economists. The International Monetary Fund warned in a report in October, “In 2020, government deficits are set to surge by an average of 9 percent of GDP, and global public debt is projected to approach 100 percent of GDP, a record high.”
The overall global figure masks huge variations among countries.
The deficits of seven developed countries — Brazil, Britain, Canada, Italy, Spain, Japan and the United States — are surging and have risen by more than 10% of GDP. Japan’s gross public debt will shortly reach 266% — and America’s 131%, according to IMF projections.
These percentages would have been unimaginable in the not-too-distant past.
“The COVID pandemic will leave many scars on the world economy and our societies. One of the deepest will be a lasting legacy of rising global public and private debt,” according to Stéphane Monier, chief investment officer of Switzerland’s Lombard Odier Private Bank.
But in a note to the bank’s private clients last month, he said that while such debt accumulation is unsustainable in the long term, debt levels are unavoidable “as governments try to compensate firms and citizens for the challenges of the pandemic.” Monier added, “Thankfully, the debt is mostly currently affordable because of the exceptionally loose monetary policy and the associated rock-bottom interest rates.”
Looking at the debt, Monier said, as “a share of GDP,” exaggerates the increases, because economies’ revenues have fallen as the pandemic shut sectors. …
The debt distress of poorer nations is prompting attention and rising concern.
“Much of the conventional wisdom about how governments should manage the COVID-19 economic fallout is perfectly appropriate for advanced economies, but dangerous elsewhere,” according to Michael Spence, a Nobel laureate in economics, and Danny Leipziger, a professor at George Washington University’s School of Business.
“Even if developing and emerging economies could simply borrow and spend more to weather the storm, doing so could jeopardize their long-term economic prospects,” they wrote for Project Syndicate, which publishes commentary and analysis. Too much debt will drown the poorer countries, constraining their economic growth. https://www.voanews.com/economy-business/rising-debt-triggers-growing-alarm-especially-poorer-nations
Note that the only way this supposedly will work is if interest rates remain low.
Yet, by definition, anything that is “unsustainable” cannot continue.
Even if that will be the case for a time, hyperinflation is a major risk (see Birch: Why a Hyperinflation “Time Bomb” Could Explode in 2021).
Lockdowns and most other government imposed restrictions were not the biblically nor scientifically nor economically appropriate way to deal with the novel coronavirus.
But that is what most government leaders around the world embraced and implemented.
COVID is being blamed, but it was not COVID itself: it has been government policies blamed on COVID-19.
The damage government COVID policies have caused the economy has been tremendous. Millions lost their jobs. Many small businesses have closed. Landlords have been excessively squeezed. The airline, restaurant, hotel, and other travel related industries have been devastated. Even the oil and automotive industries have been hit hard. As have been the entertainment industries and many other segments of modern economies.
And, what is the governmental solution for the damage governmental policies have caused?
More debt.
Joe Biden has called for more ‘stimulus’ (debt) as well as possibly a national lockdown for the USA.
Most in the media and in government act like debt and lockdowns are good things.
However, the Bible clearly warns that an indebted people will be destroyed by people whose language that they do not understand, and that the destruction will be fairly total:
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 28:42-45,47-52).
7 The rich rules over the poor, And the borrower is servant to the lender. (Proverbs 22:7)
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)
12 One-third of you shall die of the pestilence, and be consumed with famine in your midst; and one-third shall fall by the sword all around you; and I will scatter another third to all the winds, and I will draw out a sword after them. (Ezekiel 5:12)
Notice that getting in debt is considered to be a curse (see also the YouTube video The Debt Crisis Will Be Worse Than Most Imagine).
The debt situation of the USA, UK, and Canada are putting both at risk of being unable to recover should it be hit by weather problems, terrorist acts, war, riots, solar flares, severe earthquakes, civil unrest, devastation of their genetically-modified food supplies, food shortages, and/or various pestilences–an intensity of “sorrows” such as Jesus discussed in Matthew 24:4-8 leading up to the time of the Great Tribulation. Disasters such as pestilences, especially if there is an ElectroMagnetic Pulse (emp) attack or a severe solar flare storm, could be part of a so-called “perfect storm” of events that could set the USA, along with Canada, up for destruction.
The Bible also encourages being productive (cf. Exodus 20:9; 2 Thessalonians 3:10-12), and lockdowns greatly reduce productivity for many.
The economic and debt situation is helping set the USA up for destruction.
Yet, although many do not want to believe, even that was expected:
6 “Don’t say such things,” the people respond. “Don’t prophesy like that. Such disasters will never come our way!” (Micah 2:6, New Living Translation)
16 … You say, ‘Do not prophesy against Israel, And do not spout against the house of Isaac.’ (Amos 7:16)
People will not want to hear! See also Preparing for the ‘Short Work’ and The Famine of the Word.
Yet, the hope that many people, companies, as well as state/provincial and local governments is to have their federal government further increase MORE of its debt and give them funds to pay off their debts and/or and keep them going.
While the USA and Canada still have more time, people would do well to pay attention to biblical prophecy on debt.
Notice a prophecy God inspired the prophet Habakkuk to write:
2 Then the Lord answered me and said:
“Write the vision
And make it plain on tablets,
That he may run who reads 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. (Habakkuk 2:2-3)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 2:6-8).
Notice that the Bible says that there will be a delay (it tarries)–but that disaster will happen and that foreign creditors will rise up. The above is a prophecy for the appointed time of the end–essentially the time of the Great Tribulation (Matthew 24:21). The USA has been accumulating pledges in the form of US Treasury bonds and notes, and is the most indebted nation of all time. Notice that the prophecy says it is so bad, that people should run who read it. That is, they should seriously consider what this means and take the appropriate steps. Yet, most ignore this prophecy.
Because US and British-descended leaders ignore, and even despise, instructions and warnings from the word of God, destruction will come to them. Notice something God inspired the prophet Isaiah to record:
12 Therefore thus says the Holy One of Israel:
“Because you despise this word,
And trust in oppression and perversity,
And rely on them,
13 Therefore this iniquity shall be to you
Like a breach ready to fall,
A bulge in a high wall,
Whose breaking comes suddenly, in an instant.
14 And He shall break it like the breaking of the potter’s vessel,
Which is broken in pieces;
He shall not spare.
So there shall not be found among its fragments
A shard to take fire from the hearth,
Or to take water from the cistern.” (Isaiah 30:12-14)
Most of the leaders in the USA, UK, Canada, Australia, and New Zealand despise the word of God, trust in perversion, and think nothing of oppressive debt levels.
Increasing debt will not end up well for the USA and its British-descended allies.
Nor is it good for the rest of the world.
Some believe that the lockdown and other COVID-blamed restrictions are setting the world up for something called “the Great Reset.”
Some think that will happen in 2021.
For a different view, check out the video: 2021: The Great Tribulation or the Great Reset?
On other COVID matters, notice the following:
Beijing, China:
China on Monday vehemently refuted the US charge that the novel coronavirus was leaked from a bio lab in the country and asserted that the pandemic was likely to have been caused by separate outbreaks in multiple places in the world.
Chinese Foreign Ministry spokesperson Hua Chunying’s remarks came amidst reports that a ten-member team of the World Health Organisation (WHO) scientists would visit China this month to probe the origin of the coronavirus, which emerged in Wuhan in December 2019. …
“There is a growing body of evidence that the (Wuhan) lab is likely the most credible source of the virus,” Mr Pottinger, a staunch critic of Beijing, allegedly made the claim in a recent virtual meeting with UK officials, according to a British media report.
His allegation is nothing new as US President Donald Trump, who termed COVID-19 as “China virus”, too had alleged last year that the institute may have been responsible and called for an inquiry. 01/04/21 https://www.ndtv.com/world-news/china-denies-us-allegation-that-coronavirus-originated-from-wuhan-lab-2347646
Early last year we put together a video: Biological Warfare and Prophecy.
It remains my view that experimentation with viruses was the most likely cause of COVID-19. Which after it was accidentally (in my view) released, I also believe, resulted in globalists jumping on as an excuse to test various totalitarian steps (and to help push out Donald Trump). In the future we will ultimately see even more devastating totalitarian changes (cf. Revelation 13).
Various reports have confirmed those views.
Some items of possibly related interest may include:
The End of US Dollar Dominance Is the USA losing its economic status? What about the petro-gold-yuan? A related video is also available: US Dollar being challenged by Gold-Petro-Yuan.
COVID 19 is NOT the End, but could it be TEOTWAWKI? The novel coronavirus called COVID-19 is wreaking havoc around the world. Many states of the USA as well as countries in Europe are on lockdown with shelter in place /shelter in residence requirements. In France, a form is required when you are not at your house. In Spain, drones are being used to warn people who are outside to got back to their homes–does that bring up feelings of ‘Big Brother’? Italy, France, and other areas are using police and/or military force to encourage people to stay inside. According to the Bible could this be the end? If not, what has to happen first? Have the second and third of the four horsemen of the Apocalypse started their ride? Could COVID-19 be the fourth horseman? Why or why not? Could we be seeing The End of the World as We Know It (TEOTWAWKI) like the R.E.M.’s 1987 single song discussed? Do Christians need to fear? What did Jesus teach? What did the Psalmist teach? This is a video. Here is a link to a version in the Spanish language: Corona 19 no es el final PERO es el TEOTWAWKI.
COVID-19 Leading to 666? The novel coronavirus of Wuhan, China fame, is now called COVID-19. It has also been called the ‘Coronapocalypse.’ Does COVID-19 have any prophetic ramifications? What did Jesus teach about pestilences and sorrows in the Olivet prophecy in Matthew 24? Could COVID-19 be the ride of the fourth horseman of the Apocalypse? Why was this type of disease expected according to the O. Here is a link to a version in the Spanish language: ld Testament prophecies in Deuteronomy and Leviticus? What has the US Centers for Disease Control warned about? What has the CDC reported about the flu? Were there lessons about fear and infections in the 2011 movie ‘Contagion’? Because of COVID-19, the World Health Organization (WHO), nation of Iran, and certain French locations are telling people not to use cash, but instead electronic forms of payment. The US Federal Reserve is now quarantining money repatriated from Asia to reduce the potential spread of the coronavirus on US currency bills. Is COVID-19 worse than we have been told or could this all be a ‘false flag’ event to encourage people to move towards a cashless society? If the thousands of deaths associated with COVID-19 are pushing parts of the world towards cashlessness, how much more likely will the ride of the fourth horseman and over a billion human deaths motivate people to move to making electronic payments that can be monitored? The Bible tells of a soon coming society that controls buying and selling to force allegiance to a coming European Beast power, known as 666 (Revelation 13:16-18). Does the ‘great tribulation’ begin before ride of the fourth horseman or with the opening of the fifth seal of Revelation 6? Do the words of Jesus helps us better understand the sequence of the four horsemen of the Apocalypse and the start of the Great Tribulation? Will the ride of the fourth horseman help lead to the rise of 666? Is that ride very close? Dr. Thiel addresses these issues and more in this video. Here is a link to a version in the Spanish language: El COVID-19 ¿Conduce al 666?
Two Horned Beast of Revelation and 666 Who is 666? This article explains how the COG views this, and compares this to Ellen White. Here is a link to a prophetic video Six Financial Steps Leading to 666?
Biological Warfare and Prophecy. Is biological warfare possible? Was it prophesied? Scientists have long warned that pathogenic organisms like the coronavirus could be weaponized. Furthermore, back in 2017, there were concerns that the biological research facility being constructed in Wuhan, China was risky and that a coronavirus from it could be released. On January 25, 2020, China’s President Xi Jinping publicly stated that the situation with the Wuhan-related strain of the coronavirus was grave. Did Church of God writers like the late evangelist Raymond McNair warn that engineered viruses (the “Doomsday bug”) were consistent with prophecies from Jesus? Did a warning from CCOG leader Bob Thiel warn about risks of genetically-modified (GMO) mosquitoes come to pass? Could human research and/or the consumption of biblically-unclean animals such as bats and snakes be a factor in current outbreaks or coming future pestilences? What about famines? How devastating have pestilences been? How devastating are the prophesied ones going to be? Dr. Thiel addresses these issues and more in this video.
Fourth Horseman of the Apocalypse What is the pale horse of death and pestilences? What will it bring and when? Some related videos may include Amphibian Apocalypse: Threat to Humans?, Zombie Deer Disease is Here! Are the 10 Plagues on Egypt Coming?, and Biological Warfare and Prophecy. Here is a version of the article in Spanish: El cuarto jinete de Apocalipsis, el caballo pálido de muerte y pestilencia.
Four Horsemen of the Apocalypse What do each of the four horseman of the Apocalypse represent? Have they began their ride? Did Jesus discuss the any of this? Might their rides coincide with the “beginning of sorrows? Do they start their ride prior to the Great Tribulation? Did Nostradamus or any other ‘private prophets’ write predictions that may mislead people so that they may not understand the truth of one or more of the four horseman? There is also a related YouTube video titled Sorrows and the Four Horsemen of the Apocalypse.
20 items to prophetically watch in 2020 Much is happening. Dr. Thiel points to 20 items to watch (cf. Mark 13:37) in this article. Here is a link to a related sermon: 20 Prophetic Items to Watch in 2020.
The New World Order Is Leaving the US Behind Bloomberg reported that the New World Order is leaving the USA behind. Other secular news sources are also reporting the rise of a new world order and decline of the influence of the USA. What about NAFTA, the Paris Accords, TPP, TWO, and NATO? Russia, China, and Europe are all working towards reducing dominance of the USA. Is this consistent with biblical prophecy? When did the time of Anglo-American dominance begin? Will the coming world order be dominated by a European Babylonian power? What will happen to the USA, United Kingdom, Australia, and New Zealand after military actions by the coming order and the Great Tribulation? Are there any ties to Armageddon? Dr. Thiel addresses and more from the Bible.
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.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.
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.
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.
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.
Satan’s Plan Does Satan have a plan? What is it? Has it already been successful? Will it be successful in the future? Here are links to a two-part sermon series: What are Some of the Parts of Satan’s Plan? and Satan’s Plan is More Dramatic than Many Realize.
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?
Brexit Happened: Now What? At 11:00 pm January 31, 2020, the United Kingdom formally left the European Union. Many celebrated, while many mourned. Nigel Farage stated, “This is the greatest moment in modern British history.” What will happen to the United Kingdom? Will the UK be involved in trade deals with the United States of America and the Europeans? Will the UK regret the BRitish Exit (Brexit) from the EU?What will happen with the European Union? Is Europe prophesied to have a great army and many ships? Does the Bible prophesy a reorganization of Europe? Does it prophesy that the Europeans will become a conquering military power? Is the United Kingdom prophesied to be conquered? How does the Bible name the British-descended peoples? Was the British Empire the largest in world history? Was Brexit predicted by Church of God leaders in 1970 and the early 1990s? Will the European Union be negatively affected financially by the departure of the UK? Will this turn out well for the UK or the Europeans? Dr. Thiel addresses these issues and more in this video.
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.
Does God Have a 6,000 Year Plan? What Year Does the 6,000 Years End? Was a 6000 year time allowed for humans to rule followed by a literal thousand year reign of Christ on Earth taught by the early Christians? Does God have 7,000 year plan? What year may the six thousand years of human rule end? When will Jesus return? 2028 or or 2031 or 20xx? There is also a video titled 6000 Years: When will God’s Kingdom Come? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
The Great Tribulation: What Happens First? What events have happened? What are some events that are now happening? And what events need to happen for the Great Tribulation to start? Here is a link to a related sermon video: Counting Down to the Great Tribulation.
When Will the Great Tribulation Begin? 2021, 2022, or 2023? 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: 2021: The Great Tribulation or the Great Reset?
The Times of the Gentiles Has there been more than one time of the Gentiles? Are we in it now or in the time of Anglo-America? What will the final time of the Gentiles be like? A related sermon is available and is titled: The Times of the Gentiles.
Armageddon Who is involved and when will this gathering happen? Here is also a video from Dr. Thiel, from Tel Megiddo in Israel: Armageddon. Other videos include: Armageddon Will it come on Trump’s watch?, Iraq, Armageddon, & Prophecy, Freemasonry, Armageddon, and Rome, Is China paving roads to Armageddon?, and Jordan, Petra, and Armageddon.
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