‘The Accelerating Countdown to Armageddon’
Jim Rickards posted the following at his Daily Reckoning site:
The Accelerating Countdown to Armageddon
Get ready for screaming headlines …
The budget deficit issue will be hotly debated … to next September and may result in a government shutdown at midnight on Sept. 30, 2023, if progressive Democrats in the Senate and conservative Republicans in the House can’t agree on a budget for fiscal year 2024, which begins Oct. 1, 2023.
But there’s another train wreck coming even sooner.
This one involves the debt ceiling and the infamous “X-Date” when the U.S. could default on the national debt. … That’s the day the Treasury really does run out of cash and can’t pay bills or pay off Treasury note holders. Right now the X-Date is estimated to be around June 5, 2023, but even that is a guess.
The real X-Date will depend on how much positive cash flow the Treasury generates during tax season around mid-April. …
Right now, the United States is roughly $31.5 trillion in debt. Now, a $31.6 trillion debt would be fine if we had a $50 trillion economy. The debt-to-GDP ratio in that example would be manageable.
But we don’t have a $50 trillion economy. We have about a $25 trillion economy, which means our debt is bigger than our economy. …
Economists Ken Rogoff and Carmen Reinhart carried out a long historical survey going back 800 years, looking at individual countries, or empires in some cases, that have gone broke or defaulted on their debt.
They put the danger zone at a debt-to-GDP ratio of 90%. Once it reaches 90%, they found, a turning point arrives…
We are deep into the red zone, in other words. And we’re only going deeper. The U.S. has a 125% debt-to-GDP ratio, trillion-dollar deficits and more spending on the way. …
No one can say when the clock will strike midnight — people have been warning about an impending collapse for decades, and it hasn’t happened.
Many have seen that as a license to keep going deeper into debt, as if it can continue forever. Well, it can’t go on forever.
And the more debt we add, the faster the day of reckoning will arrive. 02/27/23 https://dailyreckoning.com/the-accelerating-countdown-to-armageddon/
No, it cannot go on forever.
Many sorrows that the U.S.A. will face, like severe weather problems, diseases and earthquakes, will happen irrespective of who is in the White House (Amos 4:7-10; Luke 21:11) next year. Bible prophecy shows that the King of the North and King of the South will rise up and the U.S.A. will be ultimately destroyed unless national repentance happens.
Various policies and decisions in Washington, D.C., however, may hasten the day of destruction. The USA is creating the conditions for the upcoming European Beast power to fill the void in economic (and even military) leadership that the USA is in the process of making.
Making platinum coins is a nonsense way of pretending to pay off US debt.
Notice also something from Rebel Capitalist:
America’s Debt Crisis Should Have You Worried
With the United States recently hitting the $31.4 trillion debt ceiling, the Congress critters must now raise the debt limit by the summer. If they can’t reach an agreement to raise the debt ceiling, the US gov risks defaulting on debt payments.
The US’s multiple decades of big spending on fantastical domestic programs and foreign policy ventures are finally catching up to it. And it could lead to an economic cataclysm like the nation has never experienced before. …
Those are the dangers of a political economy characterized by big spending and easy money. It leads to an economic death spiral that no government, no matter how rich or powerful it is, can avoid.
To avoid such nightmare economic scenarios, the political class has to exercise fiscal and monetary restraint — two concepts that are not in its lexicon. https://www.zerohedge.com/news/2023-03-07/americas-debt-crisis-should-have-you-worried
The USA needs to repent, including fiscally, but that is not expected.
The Bible shows that debt will be a factor in the destruction of the US. And it will be worse that Jim Rickard or Rebel Capitalist believe it will be.
Habakkuk 2:3,6,7 (which is consistent with other prophecies, such as Isaiah 29:5-6, 30:12-13 and Jeremiah 15:8), show that destruction will happen to those that increased their debt at the end times:
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).
The above shows that platinum coins will not be effective as those biblical prophecies will come to pass.
The US is the most indebted nation in the history of the world, continues to take steps that will increase that debt, and refuses to repent.
Yes, it looks like the USA has passed the point of no return–though national repentance could delay its destruction.
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.
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 three related videos: The King of the North is Alive: What to Look Out For. The Future King of the North, and Rise of the Prophesied King of the North.
The Great Monarch: Biblical and Greco-Roman Catholic Prophecies Is the ‘Great Monarch’ of Greco-Roman 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.
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?
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? What about other peoples? Do you really know what will happen to Europe and the English-speaking peoples? What about 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.
 |
Tweet |
|