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Stagflation, depression, and recession concerns in the USA, EU, and UK


COGwriter

Many sources are warning about economic problems, such as a depression and stagflation:

June 7, 2022

A majority of Americans said they believe the U.S. is headed for another Great Depression, according to the latest Rasmussen survey.

A total of 55% of respondents said another 1930s-like depression was likely over the next few years — the highest finding since 2009, Rasmussen Reports said.

Of that total, 25% said they thought another depression was very likely. …

Transportation Secretary Pete Buttigieg on Sunday said the U.S. faced the “very real risk of recession if not depression” in the first year of President Joe Biden’s term.

“There was a very real risk of recession if not depression, and an American rescue plan has made enormous differences in communities across the country,” Buttigieg told ABC News. https://www.newsmax.com/newsfront/americans-great-depresion-recession-poll/2022/06/07/id/1073352/

June 7, 2022

U.S. media speculation is growing about the possible re-emergence of a ghost from the economic past: high inflation coupled with high unemployment. Stagflation crippled the economy in the 1970s and early 1980s, as surging oil prices, growing unemployment and easy monetary policy caused inflation to hit 14.8 percent in 1980.
A return of stagflation would mean a financial nightmare for markets, retirement plans, policy officials, politicians and ordinary Americans. Steve Weiss, the chief investment officer of Short Hills Capital Partners, recently told CNBC that “stagflation is partially here.”

At a press briefing ahead of a Group of Seven (G7) meeting in Germany, U.S. Treasury Secretary Janet Yellen said that “higher food and energy prices are having stagflationary effects, namely depressing output and spending and raising inflation all around the world. These pressures are not likely to abate in the very near future.” …

Experts, business leaders and economists said inflation is due in large part to major injections of COVID-19 stimulus. Also to blame are ongoing supply chain bottlenecks. …

Desmond Lachman, a former official at the International Monetary Fund (IMF), said it seems very unlikely that the country will return to a prolonged period of stagflation like in the 1970s. But with the Fed’s shift to 50 basis point interest rate hikes and the withdrawal of market liquidity starting a period of quantitative tightening, it is more likely the country will see continued weakness in the equity and credit markets.

That will lead to an economic recession by early next year. If that occurs, the U.S. will see a fairly quick decline in inflation but a significant decline in output and employment, Lachman predicted. https://www.telesurenglish.net/news/Could-Stagflation-Reappear-in-the-US-20220607-0002.html

I hope that you are enjoying these beautiful summer weekends while you still can, because it appears that very troubled times are dead ahead.  Simultaneously, inflation continues to spiral out of control even as economic activity in the U.S. dramatically slows down.  Many have compared what we are currently experiencing to the “stagflation” of the 1970s, but the truth is that what we are facing will eventually be so much worse than anything that we went through back then.  A meltdown of historic proportions is here, and as you will see below, some of the biggest names in the entire country are talking about it.

On Monday, the average price of a gallon of gasoline in the United States set another all-time record high…

Overall, the average price of a gallon of gasoline in the United States has now more than doubled since Joe Biden entered the White House.

How high will it be a year from now? …

The crisis that we are now dealing with did not arrive overnight.  For years, many of us have been relentlessly warning about debt levels, the destruction of our currency, and the foolish decisions that our leaders were making.  Now we are facing the largest debt bubble in all of human history, and there is no easy way out.  On Monday, some thoughts that Kim Dotcom shared on Twitter went viral all over the Internet…

Let’s do the math:

US total debt
$90 trillion

US unfunded liabilities
$169 trillion

Total
$259 trillion

Minus all US assets
$193 trillion

Balance
– $66 trillion

That’s $66 trillion of debt and liabilities after every asset in the US has been sold off.

I might quibble with the precise numbers that he used a little bit, but overall Kim Dotcom is right on target.

And I really like how he summarized the nightmare that is in front of us…

So even if the US could sell all assets at the current value, which is impossible, it would still be broke.

The US is beyond bankrupt.
This patient is already dead.
This patient is now a zombie.

You probably wonder why are things still going? Why didn’t everything collapse yet.

It’s all perception, denial and dependency.

Our leaders have tried to keep the party going for as long as they possibly could, and for a while that actually worked.

But now a day of reckoning has arrived, and a horrifying economic meltdown has begun. 06/06/22 http://theeconomiccollapseblog.com/4-really-big-names-that-are-warning-that-major-economic-disaster-is-ahead/

Policies of governments around the world related to COVID, printing money, sanctions, and trade set this situation up.

Inflation has risen. Talks of a USA depression cannot be good for the Biden-Harris Administration, so it is surprising that a Cabinet Secretary would have brought it up.

As the Tweet at the beginning of this post helps demonstrate, there are concerns about stagflation hitting the European Union. Economic problems look to be a factor that will result in Europe reorganizing and turning power over to a dictator called the Beast.

Also, notice concerns related to a former EU member, the United Kingdom:

UK Fared Better Than Feared in May But Recession Worries Persist

June 7, 2022

A slowdown in UK growth was less severe than feared in May, but firms remain worried about soaring costs and the risk of a recession, according to S&P Global. …

“May data illustrate a worrying combination of slower growth and higher prices across the UK service sector,” said Tim Moore, Economics Director at S&P Global Market Intelligence. “Growth expectations have dropped in each month since the invasion of Ukraine and are now the weakest since October 2020.” https://www.bloomberg.com/news/articles/2022-06-07/uk-fared-better-than-feared-in-may-but-recession-worries-persist

Jun 06, 2022 – 11:45 PM

As a stagflationary storm looms over the UK economy, the Federation of Small Businesses (FSB) chairman warned of a tsunami of small business closings without new support packages from the government.

FSB chairman Martin McTague, recently told BBC Radio 4’s Today, “there is still a massive problem with small businesses. They are facing something like twice the rate of inflation for their production prices, and it’s a ticking timebomb. They have got literally weeks left before they run out of cash and that will mean hundreds of thousands of businesses, and lots of people losing their jobs.”

McTague referred to the Office for National Statistics (ONS) data, showing that 2 million (or about 40%) of the UK’s small businesses had less than three months of cash in reserves to support operations. He noted that 10% (or 200,000) were in grave danger, and 300,000 only had a few weeks of cash left. https://www.zerohedge.com/markets/ticking-timebomb-500000-uk-small-businesses-could-imminently-go-bust

And yes, we are in dangerous times and people should take appropriate action.

What about stagflation?

Here is some information about that:

In economics, stagflation or recession-inflation is a situation in which the inflation rate is high, the economic growth rate slows, and unemployment remains steadily high. It presents a dilemma for economic policy, since actions intended to lower inflation may exacerbate unemployment. …

The term stagflation, a portmanteau of stagnation and inflation, was first coined during a period of inflation and unemployment in the United Kingdom. The United Kingdom experienced an outbreak of inflation in the 1960s and 1970s. Inflation rose in the 1960s and 1970s, UK policy makers failed to recognise the primary role of monetary policy in controlling inflation. Instead, they attempted to use non-monetary policies and devices to respond to the economic crisis. Policy makers also made “inaccurate estimates of the degree of excess demand in the economy, [which] contributed significantly to the outbreak of inflation in the United Kingdom in the 1960s and 1970s.[3]

Stagflation was not limited to the United Kingdom, however. Economists have shown that stagflation was prevalent among seven major market economies from 1973 to 1982.[6] After inflation rates began to fall in 1982, economists’ focus shifted from the causes of stagflation to the “determinants of productivity growth and the effects of real wages on the demand for labor” … the government can cause stagflation if it creates policies that harm industry while growing the money supply too quickly. (Stagflation. Wikipedia, accessed 01/14/22)

I remember when stagflation was a concerning factor in the early 1980s. Also, inflation in the price of the cost of gasoline happened back then.

As far as the price of gasoline in California goes, the last price I saw at a station today was selling regular unleaded gasoline for $7.159 per gallon.

Hyperinflation will hit the USA and the UK.

And while we are NOT there yet, its results, including increasing USA debt, will be worse than almost anyone realizes (cf. Habakkuk 2:6-8).

National repentance is needed, but is not expected (Hosea 11:3a, 5b-7)–but you can repent if you respond to God’s calling.

Some items of possibly related interest may include:

Might the U.S.A. Be Gone by 2028? Could the USA be gone by the end of 2028 or earlier? 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?
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.
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.
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?
Gentile Cryptocurrency Proposal Two Russian leaders have called for a BRICS-wide and/or EAEU-wide cryptocurrency. This is hoped to be used to replace the US dollar for international trade. BRICS stands for Brazil, Russia, India, China, and South Africa. The BRICS nations represent 3.6 billion people. The EAEU includes Russia, Armenia, Belarus, Kazakhstan, and Kyrgyzstan. Will Gentiles rise up? Are there any prophetic ramifications of what these nations are looking to do? This is a video.
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.
Eliminate the $100 bill? Various ones, like Harvard economist and Trilateralist Larry Summers have called for the elimination of the USD$100 bill and the 500 Euro note. In Asia, South Korea is heading towards cashlessness by 2020. Electronic currencies are information and subject to monitoring. Did something God inspired the Apostle John over 1900 years ago now able to come to pass? This is a video.
The ‘Peace Deal’ of Daniel 9:27 This prophecy could give up to 3 1/2 years advance notice of the coming Great Tribulation. Will most ignore or misunderstand its fulfillment? Here is a link to a related sermon video Daniel 9:27 and the Start of the Great Tribulation.
Collapse of the Euro and Dollar? War in 2020? Larry Edelson of Money and Markets described aspects of current economic difficulties and explained why he felt matters would get a lot worse. He said war, like World War III, could break out as early as 2020. What did he call the ‘granddaddy of all cycles”? Will matters go as he said? What does the Bible teach? Dr. Thiel provides biblical insights that secular sources often miss. This is a video.
Europa, the Beast, and Revelation Where did Europe get its name? What might Europe have to do with the Book of Revelation? What about “the Beast”? Is an emerging European power “the daughter of Babylon”? What is ahead for Europe? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
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.
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? 2029 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 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?
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?
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.
When You Sin: Do You Really Repent? This is an article by Charles F. Hunting. A related sermon is Confess to God and truly repent.
Just What Do You Mean — Repentance? Do you know what repentance is? Have you truly repented? Repented of what? Herbert W. Armstrong wrote this as a booklet on this important subject.
The Gospel of the Kingdom of God This free online pdf booklet has answers many questions people have about the Gospel of the Kingdom of God and explains why it is the solution to the issues the world is facing. Here are links to four related sermons: The Fantastic Gospel of the Kingdom of God!, The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
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.

This entry was posted on Tuesday, June 7th, 2022 at 3:00 pm and is filed under Prophecy.



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