The Economist: Trump and Biden are both threats to the USA economy
Donald Trump Joe Biden
(Official White House Photos)
As a business owner, while I do feel that Donald Trump and Joe Biden each would have a different effect on the economy of the USA, a reader sent me an article from The Economist which pointed to problems from both. Here are some excerpts (bolding mine):
America’s extraordinary economy keeps defying the pessimists
Both Donald Trump and Joe Biden have ideas that endanger it
You have to marvel at America’s economy. Not long ago it was widely thought to be on the brink of recession. Instead it ended 2023 nearly 3% larger than 12 months earlier, having enjoyed one of the boomier years of the century so far. And it continues to defy expectations. …
It may be tempting for politicians to extrapolate from America’s recent success and juice the economy with further stimulus. But that is becoming unsustainable. Official forecasts show that America will this year spend more on debt interest than national defence. More borrowing risks building up financial perils in the future.
At the same time, both Mr Trump and Mr Biden harbour populist and protectionist instincts that will only harm America’s growth potential. The sugar-rush of stimulus helped mask the damaging effects of such policies during each president’s first term. This time, however, the damage will not be disguised.
Mr Trump … has entertained a blanket 10% tariff on imports, which some of his advisers see as a mere starting-point. That would triple America’s existing levies on goods imports, worsen inflation and raise the cost of imported parts for manufacturers. At the same time, Mr Trump has promised the mass deportation of illegal immigrants. This goes well beyond trying to secure the border against new unauthorised entrants—a reasonable goal—and poses a risk to the labour supply: in 2021 America’s 10.5m irregular migrants made up an estimated 5% of its workforce. …
A second Biden term promises nothing as potentially catastrophic. Mr Biden has let the Fed get on with fighting inflation, and wants to raise taxes to reduce deficits. Yet he is also an economic nationalist. His State of the Union address on March 7th was littered with protectionist promises that the government would “Buy American”, and statist ideas about controlling the price of everything from housing to Snickers bars. …
Mr Trump thinks trade and immigration have made the country poorer; Mr Biden is deeply distrustful of big business. And where they do acknowledge America’s strengths, both men attribute it to their own misguided interventionism. In fact, they are chipping away at the free markets which are the ultimate source of the country’s wealth. https://www.economist.com/leaders/2024/03/14/americas-extraordinary-economy-keeps-defying-the-pessimists
Now, I strongly disagree that a “second Biden term promises nothing as potentially catastrophic.”
The amount of debt increase that the USA has incurred under the Biden Administration is potentially catastrophic, and more debt is even more potentially catastrophic.
Yet, more debt was approved by the USA House of Representatives on Friday and Senate yesterday:
Congress passes $1.2 trillion spending package, averting shutdown at last minute
March 23, 2024
Congress narrowly averted a partial shutdown early Saturday, passing a massive spending package mere hours after a midnight deadline passed. The package fully funds the government through September and ends a monthslong fight over spending that persisted six months into the fiscal year.
The Senate approved the $1.2 trillion package, which was unveiled early Thursday in a vote of 74 to 24. Hours earlier, it advanced out of the House in a 286 to 134 vote. https://www.cbsnews.com/news/government-shutdown-funding-package-vote-house-senate/
According to the following prophecy, written over 2600 years ago, while it will take time, the USA’s debt will end with the USA being conquered:
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.
5 “Indeed, because he transgresses by wine, He is a proud man, And he does not stay at home. Because he enlarges his desire as hell, And he is like death, and cannot be satisfied, He gathers to himself all nations And heaps up for himself all peoples. 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 2:2-8)
US Treasury notes are “many pledges.” Now, with an admitted debt of over $34 trillion dollars and plans to increase that much further, the USA has increased pledges more than any nation in the history of the planet.
The above prophecy in Habakkuk will be fulfilled at the time of the end (cf. “The message was true, but the appointed time was long…in the latter days, for the vision refers to many days yet to come”, Daniel 10:1,14). Daniel 8:19, 11:27, 29,35 use the same Hebrew term for “appointed time” as Habakkuk 2:3, while Daniel 10, using a different term, ties the latter days to the time in Daniel 8:19. Habakkuk 2 was not fulfilled in its entirety anciently. Also, it makes little sense that Habakkuk would be directed towards the modern nation of Israel as it does not have enemy creditors. It must be a nation or group of nations with some prominence at the appointed time of the end. As far as “violence of the land” as a contributing factor, this would seem to include crime, military missions, and perhaps riots/civil unrest, but might it also include promotion of violent sports? Is the USA government not giving shameful counsel regarding matters such as homosexuality and abortion?
Before the USA is conquered, more inflation is coming–and with potentially devastating consequences.
Here is something from my 2021 book, Biden-Harris: Prophecies and Destruction:
Joe Biden will have to deal with the fact that the U.S.A. is the most indebted nation in the history of humanity. Plus, he has pledged increasing it further [The Biden Emergency Action Plan to Save the Economy. JoeBiden.com, accessed 12/16/20].
Debt is a prophesied problem (cf. Habakkuk 2:6-8). But many in the media as well as politically-inclined economists do not see it that way—but that is too short sighted (cf. Ecclesiastes 8:11).
The time will come when the U.S.A. government will no longer be able to borrow at low interest rates and/or it will create more money electronically and/or via the printing press to try to continue.
Make no mistake about it — massive inflation is coming.
The U.S.A. dollar will ultimately crash and be worthless. That “pride” of American power will be broken (cf. Leviticus 26:19).
A Biden-Harris Administration has asserted it will take debt raising steps. …
The Economy
While pushing biblically immoral ideas is bad for the economy, it should be noted that economies vary. A modern reality is that being the world’s de facto reserve currency has helped prolong the U.S.A.’s dominance.
When the U.S. dollar is no longer the world’s reserve currency, this will hurt the U.S.A. financially. Increasing debt, including “quantitative easing,” is a form of dishonest profits that is not something that God approves of and will punish the U.S.A. for (cf. Ezekiel 22:13-16).
Inflation will eventually hit the U.S.A. extremely hard. As the world becomes less attached to the American dollar, many financial jobs and opportunities will be in places other than the U.S.A. Eventually, but not yet, the U.S.A. dollar will become worthless (worth no more than the scrap or sentimental value of the cotton-paper it is printed on).
Will it always be straight downhill for the economy of the U.S.A.?
No.
There are some reasons to have some temporary optimism. The longer there is some economic stagnation in parts of the economy that governmental COVID-19 policies contributed to, the more demand tends to build up, and an increase in demand may prolong the economy. In addition, technological and other developments may temporarily support the U.S. economy—as can reductions of regulatory burdens.
Some policies of the Biden-Harris Administration may help. Others see problems. The Biden-Harris team looks to increase various regulations and impact some industries negatively (such as the fossil fuel industry). Various ones see their proposed policies and cabinet selections as a refreshing change that they hope will fuel economic growth and shared prosperity.
Notice what was told to a king whose was prophesied to lose his kingdom:
27 Therefore, O king, let my advice be acceptable to you; break off your sins by being righteous, and your iniquities by showing mercy to the poor. Perhaps there may be a lengthening of your prosperity. (cf. Daniel 4:27)
Repentance can prolong prosperity, but promotion of sin leads to destruction. But, it is not expected that Joe Biden or Kamala Harris will push for scriptural national repentance. (Thiel B. Biden-Harris: Prophecies and Destruction. Nazarene Books, 2021)
Related to USA debt, we put out the following video:
And the Debt Goes On …
On June 3, 2023, US President Joe Biden signed a bill to increase the official debt-ceiling of the United States. According to the US Treasury the “ceiling” has been changed, increased, or delayed 78 other times. The official debt has nearly tripled since the Obama-Biden Administration. The official debt increased about $2 trillion per year under Donald Trump’s Administration and has done close to that in the Joe Biden Administration. While the USA has been able to increase debt with limited consequences (like inflation) so far, does the Bible show this can end in destruction? What did God warn about debt through the prophet Habakkuk? Is getting into high amounts of debt a blessing or curse according to the Bible? Do Democrats or Republicans currently have a plan that will now be implemented to pay off the debt? Has the USA been functioning as an international “leech” consistent with statements in the Book of Proverbs? Does the Bible say it is wicked to borrow money you do really intend to repay? Steve Dupuie and Dr. Thiel cover these matters.
Here is a link to our video: And the Debt Goes On …
There are disastrous changes that will come to the USA (Daniel 11:39; see also USA in Prophecy: The Strongest Fortresses)–and its debt and other monetary practices–which one day will cause massive hyperinflation–will be a cause (cf. Habakkuk 2:6-8; see also USA in Prophecy: The Strongest Fortresses).
But since many leading, so-called ‘economists’ are political hacks and/or have a political agenda, do not expect too many prominent ones to have sufficient influence to resolve the problems in the USA.
The truth is that the USA is setting itself up for massive inflation and destruction.
What will hit the USA will be worse than almost anyone realizes.
Neither Donald Trump no Joe Biden will be able to stop what is coming.
While national repentance could delay what will come (cf. Daniel 4:27), that is NOT expected.
Do not put your economic confidence in Joe Biden nor Donald Trump.
Some items of possibly related interest may include:
Could 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? 2031 or 2025 or? There is also a video titled: When Does the 6000 Years End? 2031? 2035? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
Might the U.S.A. Be Gone in 2028? Could the USA be gone by the end of 2028? 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?
Should a Christian Vote? This article gives some of the Biblical rationale on this subject. Would Jesus vote for president/prime minister? Is voting in the Bible? This is a subject Christians need to understand. A video of related interest is available titled: Should Christians Vote? Another video is Biden, Trump, and the Bible.
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.
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.
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.
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 and silver? Two videos of related interest may be: Germany, Gold, and the US Dollar and Silver, Science, and Scripture.
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.
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?
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.
Donald Trump in Prophecy Prophecy, Donald Trump? Are there prophecies that Donald Trump may fulfill? Are there any prophecies that he has already helped fulfill? Is a Donald Trump presidency proving to be apocalyptic? Two related videos are available: Donald: ‘Trump of God’ or Apocalyptic? and Donald Trump’s Prophetic Presidency.
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.
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