‘Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression’

The US economy is propped up more by debt than most realize:

Study Discovers That If The Debt Machine Was Turned Off, The U.S. Would Immediately Plunge Into A Horrifying Depression

September 2, 2019

A new study has discovered that we are far more dependent on America’s great debt creation machine than most of us would have ever dared to imagine. Today, debt is involved in most of our major transactions. In order to purchase a home, most of us go into debt. The same thing is true when most of us buy a vehicle. Total credit card debt is well over a trillion dollars, and total student loan debt is now over a trillion and a half dollars. Corporate debt has more than doubled since the last financial crisis, state and local governments are absolutely drowning in debt and unfunded pension liabilities, and the federal government is more than 22 trillion dollars in debt. The Federal Reserve and the “too big to fail” banks are at the core of this insidious debt-based system, and it has been systematically destroying the bright future that our children and our grandchildren were supposed to have. But if we suddenly turned off America’s great debt creation machine at this point, our entire economic system would totally collapse because we have become so dependent on it. In fact, a study that was just conducted by Bloomberg discovered that “gross domestic product per capita would plunge into negative territory” if the ability to borrow was suddenly removed. …

Our massively inflated debt-fueled standard of living is completely and utterly dependent on the continual creation of more debt.

In essence, this study found that without debt we wouldn’t have much of an economy at all. … the only thing keeping us from complete and total economic collapse is the fact that debt is flowing like wine.

But what would happen if some sort of major national crisis erupted someday and all of a sudden everyone was afraid to lend money?

That is something to think about, because such a scenario may be a whole lot closer than many people might think. https://1buv.com/study-discovers-that-if-the-debt-machine-was-turned-off-the-u-s-would-immediately-plunge-into-a-horrifying-depression/

Here is more about the study:

America’s Wealth Hinges on Its Ability to Borrow Big – or Else

(Bloomberg) — The U.S. economy is consistently ranked among the world’s strongest. But cut off its addiction to debt and exhaust its gold and currency reserves, and a very different picture would emerge.

The nation’s health as measured by gross domestic product per capita would plunge into negative territory without its dependence on borrowed money, according to data compiled by Bloomberg.

In fact, the U.S. would fall almost to the bottom of a ranking of 114 economies by GDP per capita …

To get this somewhat dystopian measure, Bloomberg took each economy’s 2020 GDP as projected by the International Monetary Fund as a starting point. We then adjusted the number by removing the ability to borrow, while adding reserves to create an alternative wealth measure.

U.S. per capita income of $66,900 would be slashed to a negative $4,857 using this measure. That’s a total loss of almost $72,000 for every man, woman and child. …

the U.S. debt market allows for ample liquidity and the U.S. dollar is considered the world’s reserve currency.

The U.S. will need to continue to borrow. The IMF projects America’s government debt to average 109% of GDP over the next five years. Reserves, having averaged $425 billion between 2014 and 2018, would account for less than 2% of the projected $22.2 trillion GDP for 2020. 08/31/19 https://finance.yahoo.com/news/america-wealth-hinges-ability-borrow-120000587.html

I reported about the risk of the debt bomb, the debt bubble, exploding before. And that debt has been propping up the US economy.

Notice something that was also reported here a couple of years ago:

March 13, 2017

We are living during the greatest debt bubble in the history of the world, and our financial engineers have got to keep figuring out ways to keep it growing much faster than global GDP because if it ever stops growing it will burst and destroy the entire global financial system. … There is always a price to be paid for going into debt. It mystifies me that so many Americans seem to not understand this very basic principle.

On an individual level, you could live like a Trump (at least for a while) by getting a whole bunch of credit cards and maxing all of them out.

But eventually a day of reckoning would come.

The same thing happens on a national level. In recent years we have seen examples in Greece, Cyprus, Zimbabwe, Venezuela and various other European nations.

Here in the United States, more than 9 trillion dollars was added to the national debt during the Obama years. If we had not taken more than 9 trillion dollars of consumption and brought it into the present, we would most assuredly be in the midst of an epic economic depression right now. …

When you go into debt there are consequences.

And when the greatest debt bubble in human history finally bursts, the consequences will be exceedingly severe.

The best that our leaders can do for now is to keep the bubble alive for as long as possible, because what comes after the bubble is gone will be absolutely unthinkable. http://www.zerohedge.com/news/2017-03-13/21714-every-man-woman-and-child-world-global-debt-bomb-ready-explode

When I posted the above, I also posted:

Let me state here that the “absolutely unthinkable” result of debt will NOT happen in 2017. But when it comes it will be worse than the pundits think.

It will take years for the impact of various policies to fully hit the USA–but when it truly hits it will be devastating according to the Bible:

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.

4 “Behold the proud,
His soul is not upright in him;
But the just shall live by his faith. (Habakkuk 2:2-4)

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).

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.

The Bible shows that foreign creditors will rise up.

Notice something from my book Donald Trump and America’s Apocalypse:

Debt

The USA has greatly increased its debts this century.

The Bible warns that debt, and having to borrow from foreigners, is a curse that would hit those who received various biblical blessings as they became more disobedient (Deuteronomy 28:15,43-46).

Donald Trump loves debt. Here something he said about it in 2016:

I’m the king of debt. I love debt.

There was about $20 trillion of recognized US government debt before Donald Trump took office.

He plans to increase that total. Some think his stated policies will add around $10 trillion to that total. (pp. 36-37)

This does not bode well for the U.S.A.

Furthermore, the Bible warns against the type of moral decline that is occurring in the U.S.A.:

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. (Isaiah 30:12-13)

But how can this happen to the USA? It will likely happen with a combination of events. Notice:

5 “Moreover the multitude of your foes Shall be like fine dust, And the multitude of the terrible ones Like chaff that passes away; Yes, it shall be in an instant, suddenly. 6 You will be punished by the Lord of hosts With thunder and earthquake and great noise, With storm and tempest And the flame of devouring fire. (Isaiah 29:5-6)

The debt situation of the U.S.A. is putting it 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. Political issues, climate change, trade policies, communication’s deals, and other events are pushing the U.S.A. to a position that will encourage its takeover someday. Disasters, 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 for destruction.

Many sorrows that the U.S.A. will face, like severe weather problems, diseases and earthquakes, will happen in the future, irrespective of who is in the White House (Amos 4:7-10; Luke 21:11). Donald Trump (and some others), however, may hasten or delay the day of destruction. (p. 42)

The Bible teaches that the debt situation that the USA faces is much worse than a possible government shutdown.

Now, many nations have debt as the IMF report indicated. Yet, from a prophetic perspective, since the USA has the most debt, it is appropriate to consider that it will perhaps pay the biggest price for having so much debt.

What about the USA vs. the European Union?

A story comes to mind.

There once was a movie that had two men camping outdoors. Suddenly, one man yells, “Run, a bear!” The other man yells back, “You can’t outrun a bear.” The first man responded with, “True, but all I have to do is to outrun you.”

The implication is that the first man only needed to be better in the sight of the bear than the second one, which presumably the bear would consider to be weaker, and then catch and destroy.

From an economic perspective, the story basically is that the debt and economic situation in Europe does not need to be perfect, only perceived to better than that of the USA to someday surpass it.

Regular readers realize that I have often written about debt and quoted many of the same scriptures.

Why remind people of this so often?

There are a couple of reasons, including the fact that debt is growing.

But notice the following prophecy:

3 … knowing this first: that scoffers will come in the last days, walking according to their own lusts, 4 and saying, “Where is the promise of His coming? For since the fathers fell asleep, all things continue as they were from the beginning of creation.” 5 For this they willfully forget: that by the word of God the heavens were of old, and the earth standing out of water and in the water, 6 by which the world that then existed perished, being flooded with water. 7 But the heavens and the earth which are now preserved by the same word, are reserved for fire until the day of judgment and perdition of ungodly men. (2 Peter 3:3-7)

The massive increase in debt is UNSUSTAINABLE. That means that things CANNOT CONTINUE as they have been. Biblical prophecies are coming to pass.

Do not live your life like the current world order will continue as it has. Bible prophecy says that it will not. Increasing levels of debt show that a debt bubble will one day burst and the USA (as well as its Anglo-Saxon descended allies will one day be no more). (Thiel B. Global debt bomb. COGwriter, March 13, 2017)

Those who do not believe that the economy of the US can fall are ignoring reality.

The economy of the US is, at best, built on a foundation of sand, as debt it certainly not a rock to build upon.

Jesus taught:

24 “Therefore whoever hears these sayings of Mine, and does them, I will liken him to a wise man who built his house on the rock: 25 and the rain descended, the floods came, and the winds blew and beat on that house; and it did not fall, for it was founded on the rock.

26 “But everyone who hears these sayings of Mine, and does not do them, will be like a foolish man who built his house on the sand: 27 and the rain descended, the floods came, and the winds blew and beat on that house; and it fell. And great was its fall.” (Matthew 7:24-27)

34 “But take heed to yourselves, lest your hearts be weighed down with carousing, drunkenness, and cares of this life, and that Day come on you unexpectedly. 35 For it will come as a snare on all those who dwell on the face of the whole earth. 36 Watch therefore, and pray always that you may be counted worthy to escape all these things that will come to pass, and to stand before the Son of Man.” (Luke 21:34-36)

Are you watching, praying, and living your life to be accounted worthy? The Great Tribulation is coming.

“Great” will be the fall of the US.

Prophecies, such as Habakkuk 2, are pointing to the USA!

Biblical prophecies will be fulfilled.

The present world order with the US on top will NOT continue.

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Donald Trump and America’s Apocalypse This 188 page book is for people truly interested in prophecies related to Donald Trump and the United States, including learning about several that have already been fulfilled and those that will be fulfilled in the future. The physical book can be purchased at Amazon for $12.99 from the following link: Donald Trump and America’s Apocalypse.
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