UCLA: No ‘Great Recovery’ in USA
A report released today from UCLA expresses concerns about the economy and future of the USA:
June 5, 2013
The country’s tepid growth in its gross domestic product isn’t creating enough good jobs to build a strong middle class, according to a UCLA report released Wednesday…
The report, which analyzed long-term trends of past recoveries, found that the long-anticipated “Great Recovery” has not yet materialized.
Real GDP growth — the value of goods and services produced after adjusting for inflation — is 15.4% below the 3% growth trend of past recoveries, wrote Edward Leamer, director of the UCLA Anderson Forecast. More robust growth will be necessary to bring this recovery in line with previous ones.
“It’s not a recovery,” he wrote. “It’s not even normal growth. It’s bad.”
That has long-term implications in the face of technological advancements that continue displacing workers, Leamer said. And the country’s education system isn’t adequately developing the workforce of the future, he said.
“Regrettably we reward teachers if their students can regurgitate the information on standardized tests,” he wrote. Future workers will need creative and analytical thinking skills for 21st century jobs, he said. http://www.latimes.com/business/la-fi-ucla-forecast-20130605,0,7676874.story
June 5, 2013
LOS ANGELES — An economic forecast says the country’s expected “Great Recovery” hasn’t materialized and the economy’s fallen short of even normal growth…It says that real gross domestic product growth — the inflation-adjusted value of goods and services produced — is well below the 3-percent growth trend of past recoveries. The forecast says the country isn’t creating enough good jobs. http://www.washingtonpost.com/business/new-report-says-us-hasnt-seen-expected-great-recovery-as-economy-continues-to-fall-short/2013/06/05/9c3ffa2e-cde4-11e2-8573-3baeea6a2647_story.html
There are at least three points to consider.
The first is that this less-than-great ‘recovery’ has been financed by more federal government debt and Federal Reserve ‘money creation’ than any in the history of humanity. While this type of inflating of the money supply has undoubtedly helped keep the economy moving to a degree, it is setting the USA up for massive inflation and devaluation of its currency–a modern version of biblical ‘dross.’ The USA is heading towards destruction:
21 How the faithful city has become a harlot!
It was full of justice;
Righteousness lodged in it,
But now murderers.
22 Your silver has become dross,
Your wine mixed with water.
23 Your princes are rebellious,
And companions of thieves;
Everyone loves bribes,
And follows after rewards.
They do not defend the fatherless,
Nor does the cause of the widow come before them.24 Therefore the Lord says,
The Lord of hosts, the Mighty One of Israel,
“Ah, I will rid Myself of My adversaries,
And take vengeance on My enemies.
25 I will turn My hand against you,
And thoroughly purge away your dross,
And take away all your alloy.
(Isaiah 1:21-25).
The second is that a weaker economy means that likely continued deficit spending and inflating the money supply will continue. At some point in time the Bible reveals that foreign creditors will rise up suddenly and this will result in the end of the great debtor:
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 third is that the USA is beginning to lose its technological lead. And while there are major problems with the European economy (see EU: Pax Europa or Civil Unrest?), the reality is that the world’s biggest physics’ project is in Europe (CERN’s Large Hadron Collider), and other new technological projects (such as Germany’s F.A.I.R.) are also in Europe. With the problems that the USA economy is having, the USA will lose key elements of its military superiority and be taken over by the Europeans:
39 Thus he shall act against the strongest fortresses with a foreign god, which he shall acknowledge, and advance its glory; and he shall cause them to rule over many, and divide the land for gain. (Daniel 11:39).
The “He” above is the King of the North, the European Beast power. In the 21st century, at this time, it is the USA that has the “strongest fortresses,” yet Bible prophecy shows that power will be defeated and its lands divided (a related video would be Will the USA and other Anglo-nations be Divided and Their People Made Slaves?).
Now, this does not mean that the USA may not have certain technologies, agricultural advancements, and energy advancements that will help it continue to some time.
But slower economic growth does mean that the USA will have to make tough decisions that will lead to the end of its dominance in the world.
Despite its military strength (which is getting affected by the debt situation as well as homosexuality, abortion, pornography, etc.), destruction is coming to the USA (Daniel 11:39; Habakkuk 2:6-8; Isaiah 1:21-25).
Some items of possibly related interest may include:
Anglo – America in Prophecy & the Lost Tribes of Israel Are the Americans, Canadians, English, Scottish, Welsh, Australians, Anglo (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 nations? Why might God allow them to be punished first?
Will the Anglo-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?
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? Here is a link to a video titled: Can You Prove that the Beast to Come is European?
Who is the Man of Sin of 2 Thessalonians 2? Is this the King of the North, the ten-horned beast of Revelation 13:1-11, or the two-horned Beast of Revelation 13:12-16? Some rely on traditions, but what does the Bible teach? Here is a related link in Spanish/español: ¿Quién es el Hombre de Pecado de 2 Tesalonicenses 2? Here is a version in Mandarin: 主编： 谁是’大罪人’？Here is a link to a related YouTube video, in English, titled Who is the Man of Sin?
Who is the King of the West? Why is there no End-Time King of the West in Bible Prophecy? Is the United States the King of the West?
Abortion, the Bible, and a Woman’s Right to Choose Do you know what the Bible teaches on this? Has the Roman Catholic Church allowed abortions? What about the real Church of God? Some may also, or instead, wish to view the YouTube video Abortion, the Bible, and US Debt.
The Bible Condemns Homosexuality “Same-sex marriage” for “gays” and lesbians is becoming more acceptable to many. What does the Bible teach about homosexuality? Can homosexuals change?
Cross-dressing and other assaults against your children. What should you do? Is there an agenda to turn your children and/or grandchildren away from biblical morality and towards practices promoted by homosexuals? What does the Bible teach about cross-dressing? What should parents do? If there is an agenda, what has been going on? There is also a YouTube video on this, titled Cross dressing and Other Assaults Against Your Children.
Pornography: A scourge on society Is pornography harmless fun? Does the Bible teach anything about it? What are the views of some involved with it?
British and American Moral Decay Public nudity is becoming more prevalent in the Anglo-lands. What are some of the consequences?
The Ten Commandments Reflect Love, Breaking them is Evil Some feel that the ten commandments are a burden. Is that what Jesus, Paul, Peter, James, and John taught? For a more detailed discussion of the first four commandments, please see the video The Ten Commandments: Loving God
Barack Obama, Prophecy, and the Destruction of the United States-Second Edition for Second Obama Term This is a 160 page book for people truly interested in prophecies related to Barack Obama and the United States, including learning about many that have already been fulfilled (which the book documents in detail) and those that will be fulfilled in the future. It also has a chapter about a Republican choice. This book is available to order at www.barackobamaprophecy.com. The physical book can also be purchased at Amazon from the following link: Barack Obama, Prophecy, and the Destruction of the United States: Is Barack Obama Fulfilling Biblical, Islamic, Catholic, Kenyan, and other America-Related Prophecies? What About Republican Leaders? Second Edition for Second Obama Term.
Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition. This electronic version is available for only US$2.99. 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 Barack Obama, Prophecy, and the Destruction of the United States-Second Term-Amazon Kindle edition.
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