‘Trump’s economic rescue package could approach $1 trillion’
Hungary 1946 sweeping up hyperinflation currency notes
The US government believes printing money it does not have is what is needed to ‘save the economy’ since it and various state and local governments have discouraged free movement and gatherings which is causing economic and other disruptions:
Trump’s economic rescue package could approach $1 trillion
March 18, 2020
WASHINGTON (AP) — In a massive federal effort, President Donald Trump asked Congress to speed emergency checks to Americans, enlisted the military for MASH-like hospitals and implored ordinary people — particularly socially active millennials — to do their part by staying home to stop the spread of the coronavirus.
His proposed economic package alone could approach $1 trillion, a rescue initiative not seen since the Great Recession. Trump wants checks sent to the public within two weeks and is urging Congress to pass the eye-popping stimulus package in a matter of days.
As analysts warn the country is surely entering a recession, the government is grappling with an enormous political undertaking with echoes of the 2008 financial crisis. …
“This is a very unique situation,” said Treasury Secretary Steve Mnuchin, exiting a private briefing of Senate Republicans. “We’ve put a proposal on that table that would attract a trillion dollars into the economy.”
One GOP leader, Sen. John Thune of South Dakota, told reporters afterward it “could be” up to $1 trillion. https://apnews.com/0f6c483ce758c5d3ac6db46a6cf9c4e8
March 18, 2020
WHITE HOUSE – The federal government is looking at quickly sending money directly to Americans to soften the economic blow from the coronavirus pandemic.
“I think we are going to do something that gets money as quickly as possible” to Americans, President Donald Trump told White House reporters on Tuesday.
“The president has instructed me we have to do this now,” Treasury Secretary Steven Mnuchin said alongside Trump on the briefing room podium. “We’re looking at sending checks to Americans immediately. And I mean now, in the next two weeks.” …
The United States has more than 6,400 coronavirus cases in all 50 states.
So far, at least 100 deaths have been reported from the disease in the country. Most of the fatalities are in the states of Washington and New York. https://www.voanews.com/science-health/coronavirus-outbreak/americans-could-get-government-money-fast-soften-coronavirus
BTW, neither of the above articles mentioned the word ‘debt.’ Spending another trillion dollars would increase US debt by that much. As it turned out, I did see a reporter on the news last night ask US President Trump about this increasing debt, and Donald Trump was dismissive of the question and more or less said that the US could afford this.
However, since there is no money in the US Treasury, the US intends to ‘afford’ this by increasing debt.
Now I did find the following that mentions debt:
March 18, 2020
The work to provide a trillion-dollar boost to the economy will certainly balloon the deficit, lawmakers and Trump officials acknowledge, even as the federal government was already on pace to rack up a $1 trillion deficit in 2020. But they argue the need to stabilize the economy far outweighs concerns about deficits and debt.“Congress right now should be concerned about the American workers,” Mnuchin told reporters Tuesday. “in different times we’ll fix the deficit. This is not the time to worry about it.”
Budget experts agree that a major stimulus is needed, and say that Congress’ primary concern should be getting the economy on track, and not the deficit. But they also say that the Trump administration and Congress missed an obvious chance to lower the deficit under ideal conditions: the last several years when unemployment was low and the economy was booming. https://www.cnn.com/2020/03/18/politics/deficit-debts-congress-reaction/index.html
Yes, the US should have reduced its debt before, but instead the federal government increased it. I do not believe that with the current political climate that the US can reduce debt without some type of default.
Increasing debt is not a good thing (and more is expected).
Decreasing output (work stoppages/restrictions) while increasing the money supply is also not a good thing. That tends to lead to inflation.
Oh yes, the government can manipulate markets and keep it under control for a fair amount of time–but it cannot do that forever.
Last Summer, Money and Markets posted the following from Bill Bonner:
Bonner: Inflation Will Dominate the Next Five Years
July 18, 2019
YOUGHAL, IRELAND – This just in: The crooked tower of debt is growing taller and leaning further over.
The Global Debt Monitor reports:
Spurred by falling interest rates, global debt rose by a hefty $3 trillion in Q1 2019. At over $246 trillion, global debt is now just $2 trillion shy of the all-time high of Q1 2018.
Bigger Lies
We’ve seen that all forms of “stimulus” are mutant varieties of fraud. Whether we’re talking about unfunded tax cuts, bigger deficits, giveaway checks, quantitative easing (QE), zero interest-rate policy (ZIRP) or lower interest rates — they all work the same way.
That is, they all lie. They tell us that there is more demand (money) around than there really is. And they “work” by misleading people into doing things they shouldn’t do. Consumers overspend. Businesses overproduce. And investors buy stocks that are overpriced.
Depending on how it is delivered, this inflation of the money supply causes over- and adverse reactions that can easily be mistaken for real growth. More consumer spending. More business expansion. Higher stock prices.
But it is all a lie. And as the lying goes on, the economy gets more and more out of kilter … more and more dependent on inflation … And the feds need to tell bigger and bigger whoppers to keep it from collapsing.
Turning Point
This is the big financial story of our time: Inflate or Die. Either the feds continue to lie persuasively by inflating prices … or the truth comes out and the bubble deflates.
That’s why Fed Chief Jay Powell first “paused” his normalization program. …
And what are they going to do? Stump up the money with grace and good humor? Or try to find some new way to avoid the pain?
Looking ahead, the next five years are likely to be dominated by new and outrageous ways of inflating. https://moneyandmarkets.com/inflation-dominate-five-years/
While Bill Bonner’s timing seems to have been off, he is correct that stimulus programs like “quantitative easing” are lies.
Lying is a sin.
The Bible warns, “be sure your sin will find you out” (Numbers 32:23).
The problems will be worse for the USA than five years of inflation.
There is a serious cost to having an economy pumped up with so much “dross” money.
Will the USA pay its debts back in full or might inflation be the plan? Notice what Kevin Muir via The Macro Tourist blog wrote last March:
“It’s Foolish To Believe The Endgame Is Anything But Inflation…”
March 24, 2018
One of the greatest debates within the financial community centres around debt and its effect on inflation and economic prosperity. …
Creating debt is inflationary, while paying down debt is deflationary. That’s pretty basic. …
Therefore when the market pundits that I like to affectionately call deflationistas argue that this next chart is ultimately deflationary, I understand where they are coming from.
If you assume that this debt needs to be paid back, then it’s easy to understand their argument. When debt starts to contract and this chart heads lower, this will be deflationary. And if you assume that governments start to balance their books, then there is every reason to expect that future deflation is the worry, not inflation. After all, the money has already been spent. The inflation from that spending is already in the system.
I can already hear the deflationistas argument – over 100% of GDP is unsustainable therefore credit growth will at worst go sideways, but most likely actually contract in coming years.
Really? How about Japan? …h1
The same argument was made at the turn of the century when Japan was running a debt that was over 150% of GDP, yet they somehow managed to push that up another 80% to 230% without causing some sort of apocalyptic collapse.
Now before you send me an angry email about the moral irresponsibility of suggesting debt can go higher, save your clicks. I understand your argument. I am not interested in debating what should be done, but rather I am trying to determine what will be done. You might believe governments and Central Banks will gain religion and start conducting prudent and responsible policies. So be it. If you believe that, then by all means – load up on long-dated sovereign bonds as they will continue to be the trade of the century.
I, on the other hand, believe that Central Banks will continue printing until, as my favourite West Coast skeptic Bill Fleckenstein says, “the bond market takes away the keys.”
It’s foolish to believe that the end-game is anything but inflation. And even though increasing debt seems scary, if there is one thing that I am sure of, it’s that they will figure out a way to make even more of it. https://www.zerohedge.com/news/2018-03-24/its-foolish-believe-endgame-anything-inflation
Actually, the USA has no real intention to pay back its debt.
Its leaders basically hope to not pay it back, but if some payment is needed they hope that it will be in inflated dollars worth less than what the USA borrowed.
Foreign creditors will not be pleased.
Not paying back debt is wicked:
The wicked borrows and does not repay … (Psalm 37:21)
The Bible has an end time prophecy that the “bond market” will essentially take “away the keys”:
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 (Habakkuk 2:6-8)
The USA is believed to be the most indebted nation in the history of the world. Habakkuk’s prophecy is for the end time and cannot be directed towards the tiny nation called Israel. Israel simply does not have enemy creditors. But the USA has actual, past, and potential enemies as creditors.
Furthermore, consider that while the USA has been accumulating pledges in the form of US Treasury bonds and notes, the Chinese have been accumulating gold (see China, Gold, and the AIIB). Various ones in Europe have been repatriating gold from the USA, like the Germans (see Germany is repatriating and accumulating gold–why?). Germany is getting more gold. The Bible teaches that the final King of the North will accumulate gold and take it from Egypt in Daniel 11:40-43; cf. Revelation 18).
This diluting of the value of currency (called “dross” anciently), which is what the USA has been doing with its debt, ‘stimulus,’ and quantitative easing policies, is condemned in the Bible.
4 Take away the dross from silver (Proverbs 25:4a).
22 Your silver has become dross, Your wine mixed with water. (Isaiah 1:22)
25 I will turn My hand against you, And thoroughly purge away your dross, And take away all your alloy. (Isaiah 1:25)
18 “Son of man, the house of Israel has become dross to Me; they are all bronze, tin, iron, and lead, in the midst of a furnace; they have become dross from silver. 19 Therefore thus says the Lord God: ‘Because you have all become dross, therefore behold, I will gather you into the midst of Jerusalem. 20 As men gather silver, bronze, iron, lead, and tin into the midst of a furnace, to blow fire on it, to melt it; so I will gather you in My anger and in My fury, and I will leave you there and melt you. 21 Yes, I will gather you and blow on you with the fire of My wrath, and you shall be melted in its midst. 22 As silver is melted in the midst of a furnace, so shall you be melted in its midst; then you shall know that I, the Lord, have poured out My fury on you.’” (Ezekiel 22:18-22)
Although the Bible warns against using dross and diluting the money supply, many modern ‘experts’ have a different view. The wrong views on economics will lead to economic problems and ultimately the total crash of the dollar of the USA.
Hyperinflation is not going to solve the debt problems of the USA.
It will be much worse than most think.
Interest on the acknowledged debt will rise and become a viscous circle that will spiral to the death of the US dollar.
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.
Hyperinflation will hit the USA and its results will be worse than almost anyone realizes.
Do not be deceived. Simply printing more money and bailing out industries because of quarantines and restrictions is not the best way to run an economy.
The good news is that one day, sound economic principles will be in place. But that will not happen until after the return of Jesus and the establishment of the millennial Kingdom of God.
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 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.
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?
European Technology and the Beast of Revelation Will the coming European Beast power would use and develop technology that will result in the taking over of the USA and its Anglo-Saxon allies? Is this possible? What does the Bible teach? Here is a related YouTube video: Military Technology and the Beast of Revelation.
Persecutions by Church and State This article documents some that have occurred against those associated with the COGs and some prophesied to occur. Will those with the cross be the persecutors or the persecuted–this article has the shocking answer. There is also a YouTube video sermon you can watch: The Coming Persecution of the Church. Here is information in the Spanish language: Persecuciones de la Iglesia y el Estado.
Orwell’s 1984 by 2024? In 1949, the late George Orwell wrote a disturbing book about a totalitarian government called “nineteen-eighty four.” Despite laws that are supposed to protect freedom of speech and religion, we are seeing governments taking steps consistent with those that George Orwell warned against. We are also seeing this in the media, academia, and in private companies like Google, Facebook, and Twitter. With the advent of technology, totalitarianism beyond what Orwell wrote is possible. Does the Bible teach the coming a totalitarian state similar to George Orwell’s? What about the Antichrist and 666? Will things get worse? What is the solution? Dr. Thiel answers these questions and more in this video.
Is God Calling You? This booklet discusses topics including calling, election, and selection. If God is calling you, how will you respond? Here is a link to a related sermon: Could God be Calling You? A short animation is also available: Is God Calling You?
Christian Repentance Do you know what repentance is? Is it really necessary for salvation? A related sermon is also available titled: Real Christian Repentance.
Should the Church Still Try to Place its Top Priority on Proclaiming the Gospel or Did Herbert W. Armstrong Change that Priority for the Work? Some say the Church should mainly feed the flock now as that is what Herbert W. Armstrong reportedly said. Is that what he said? Is that what the Bible says? What did Paul and Herbert W. Armstrong expect from lower level leaders? A related sermon is available titled Priority of the Philadelphia Work.
Persecutions by Church and State This article documents some that have occurred against those associated with the COGs and some prophesied to occur. Will those with the cross be the persecutors or the persecuted–this article has the shocking answer. There is also a YouTube video sermon you can watch: The Coming Persecution of the Church. Here is information in the Spanish language: Persecuciones de la Iglesia y el Estado.
Some Doctrines of Antichrist Are there any doctrines taught outside the Churches of God which can be considered as doctrines of antichrist? This article suggests at least three. It also provides information on 666 and the identity of “the false prophet.” Plus it shows that several Catholic writers seem to warn about an ecumenical antipope that will support heresy. You can also watch a video titled What Does the Bible teach about the Antichrist?
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?
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 The Four Horsemen of the Apocalypse.
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 Old 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.
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.
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.
There is a Place of Safety for the Philadelphians. Why it May Be Petra This article discusses a biblical ‘place of safety’ and includes quotes from the Bible and Herbert W. Armstrong on this subject–thus, there is a biblically supported alternative to the rapture theory. There is also a video on the subject: Might Petra be the Place of Safety? Here is something related in the Spanish language: Hay un lugar de seguridad para los Filadelfinos. ¿Puede ser Petra?
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.
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? 2027 or 20xx? There is also a video titled The 6000 Year Plan: Is the end of humanity’s reign almost up? Here is a link to the article in Spanish: ¿Tiene Dios un plan de 6,000 años?
Is There A Secret Rapture for the Church? When and Where is the Church Protected? What does the Bible really teach? Does the Church flee or is it taken up just prior to the great tribulation? Who really is left behind? There is also a YouTube video with information Did Jesus Teach a Pre-tribulation Rapture?
This is PETRA! This is a 1962 Good News article by the late Dr. Hoeh.
Did Jesus Teach a Pre-tribulation Rapture? Did the Bible teach that Jesus raptures Christians prior to the start of the Great Tribulation? What did Jesus Himself teach? Do the scriptural passages that Tim LaHaye and Jerry Jenkins point to prove their left behind pre-tribulation rapture assertions? Do all Christians get protected from the Great Tribulation? Who does the Bible teach will get protected? Is the Great Tribulation the ‘wrath to come’ that Christians are promised protection from? This is a video.
When Will the Great Tribulation Begin? 2020, 2021, or 2022? 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? You can also see the English language sermon videos: The Great Tribulation from the Mount of Olives and Can the Great Tribulation begin before 2020? A shorter and newer video is: Could the Great Tribulation Begin in 2020?
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.
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.
Trump Presidency Magic 8 Ball or Bible Prophecy? BBC reported that one might as well use a ‘Magic Eight-Ball’ to try to predict what will happen in the remaining time of Donald Trump’s presidency. What is a ‘Magic Eight-Ball’? Dr. Thiel not only explains that, but also briefly goes over 10 biblically-based warnings he wrote would happen if Donald Trump were elected that have already began to come to pass. He also goes over something he wrote back in 2008 that the Trump presidency is also helping lead to fulfillment. Should you trust Bible prophecy or not? Dr. Thiel says that Bible prophecy can be trusted, despite the view of skeptics and others that either overlook or despise the Bible. This is a video.
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.
Donald Trump and America’s Apocalypse-Kindle Edition This electronic version of the 188 page print edition is available for only US$3.99. 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 for your free Kindle reader and then go to Donald Trump and America’s Apocalypse-Kindle Edition.
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 three related sermons: The World’s False Gospel, The Gospel of the Kingdom: From the New and Old Testaments, and The Kingdom of God is the Solution.
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