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The inflation rate in the USA seems to be rising:

“Obviously, This Is Very Bad News For Biden”: Wall Street Reacts To Today’s Red Hot Inflation Print

April 10, 2024

Coming into today’s CPI number, which followed three previous red-hot inflation prints, we said that it’s time for a “miss” (the first of 2024) not because the data demands it – on the contrary, prices continue to rise at a frightening pace – but because a dovish CPI print today would be the last opportunity for the Fed to set a timetable for a rate cut calendar ahead of November’s election.

Well, you can wave goodbye to all that, because we just got the 4th consecutive “inflation beat” in a row…

… thanks to a boiling inflation print which saw every single CPI metric coming in hotter than expected – was a shock, not because it reflected reality, but because it effectively sealed Biden’s fate because as Bloomberg’s Chris Antsey writes, “obviously, this is very bad news for Joe Biden… we’re approaching the point where high inflation is bound to still be in voters’ minds when they head to the polls, regardless of how the price figures come in over summer.” …

The bottom line, as Bloomberg’s Sebatian Boyd writes is the following:

“today’s CPI print adds to the evidence that US monetary policy just isn’t as restrictive as the Federal Reserve thinks it is, and that interest rates will therefore need to stay higher for longer. There are lots of reasons that might be: The great resignation during the pandemic may well have heightened productivity in the US economy as people found new jobs where they’re a better fit. Higher government spending would also push up the neutral rate of interest. But every time we get a hot indicator, the case builds that it has happened and that conventional measures of neutral interest rates are too low. If that is the case, the upshot is higher yields and a flatter curve, because not only would the Fed be able to cut by less than expected in the short term, but yields will need to be higher in the long term too.”

Finally, we conclude where we started, and echoing what we said in our CPI preview, namely that the BLS had Biden’s fate in its hands, it appears the bureaucrats just voted for Trump. Here is BBG’s Chris Antsey:

Obviously, this is very bad news for Joe Biden. It’s still only April, and we’ll have another half-a-year’s worth of inflation reports before the election. But we’re approaching the point where high inflation is bound to still be in voters’ minds when they head to the polls, regardless of how the price figures come in over summer.

To underscore how calamitous today’s data is for Biden, here also is BBG’s Enda Curran:

Let’s be clear — today’s data has both economic and political implications. The economics are straight forward: It looks unlikely that the Fed will be cutting rates near term (barring a shock). The political implications are less clear but no less meaningful: Poll after poll has found that voters are grumpy on the economy and news that it could be a while yet before the inflation story is over won’t brighten their mood.

And with Biden’s goose now thoroughly cooked, the next question is how long before somebody raises the possibility of a rate hike. https://www.zerohedge.com/markets/obviously-very-bad-news-biden-wall-street-reacts-todays-red-hot-inflation-print

Politically, the Biden Administration has hoped for lower inflation numbers which, it also hoped, would lead to the US Federal Reserve reducing interest rates. Most analysts thought an interest rate cut would help Joe Biden’s re-election hopes. Now, there is a concern that instead of lowering the interest rate, the Federal Reserve might raise it–and that is believed by various ones to be detrimental to Joe Biden’s chances for re-election.

CNN reported:

April 10, 2024

Surging gas prices and sky-high mortgages and rent sent inflation rising more than expected in March, adding to Americans’ prolonged and painful battle with high costs. That could force the Federal Reserve to keep its punishing rates higher for longer.

US consumer prices picked up again last month, vaulting to a 3.5% increase for the 12 months ended in March, according to the latest Consumer Price Index data released Wednesday by the Bureau of Labor Statistics.

That’s up considerably from February’s 3.2% rate and marks the highest annual gain in the past six months. Friday’s report further highlights that the path to lower inflation remains extremely bumpy — and continue to be a drag on Americans’ hard-earned finances — and that any loosening of monetary policy might not happen soon. https://www.cnn.com/2024/04/10/economy/cpi-consumer-price-index-inflation-march/index.html

As far as gasoline prices go, let me state that the cheapest gas station around here has raised the price of unleaded gasoline by 80 cents per gallon in the past month. And let me add that one of the last gasoline station prices I saw (which is at another station) was $6.09 per gallon.

A reality is that as the USA debt rises, there is more money, but not more goods and services. That is a major factor in causing price inflation.

There is an old prophecy, written over 2600 years ago, that warns against debt in the end times:

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)

Now, with an official admitted debt of $34,608,412,560,642.47 as of Monday of this week (https://www.treasurydirect.gov/NP_WS/debt/current), and plans to increase that much further, the USA has increased pledges more than any nation in the history of the planet. And on a per capita basis, the United Kingdom is one of the most indebted nations on the earth itself.

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 uses 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 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)

Last century, in a 1981 article, the old Worldwide Church of God had this about inflation:

Notice some of the penalties for disobedience recorded in the 26th chapter of Leviticus: “If after all this you have not learnt discipline but still defy me, I in turn will defy you and scourge you seven times over for your sins. I will bring war in vengeance upon you … you shall be herded into your cities, I will send pestilence among you, and you shall be given over to the enemy. I will cut short your daily bread until ten women can bake your bread in a single oven; they shall dole it out by weight [see Revelation 6:5-6], and though you eat, you shall not be satisfied. If in spite of this you do not listen to me and still defy me, I will defy you in anger, and I myself will punish you seven times over for your sins. Instead of meat you shall eat your sons and daughters” (Lev. 26:23-28, The New English Bible). Other passages warn of famine-producing upsets in weather (Amos 4:7, Deut. 28:24); ruined harvests (Ezek. 5:16, Deut. 28:17); blighted crops (Amos 4:9); harmful insect pests (Deut. 28:39, 42); and nonproductive soil (Deut. 28:23). (4 Horsemen of the Apocalypse – The Black Horse – Famine. WCG booklet, 1976)

The Bible foretells that inflation at least in the sense of oppressively rising prices — will be a plague of the end times. Notice Haggai 1:6, “and he that earneth wages earneth wages to put into a bag with holes.” Every person who has seen the buying power of his money be continually eroded because of rising prices can well understand that that prophecy has already come to pass.

The book of Revelation also foretells inflation: “A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine” (Rev. 6:6).

A measure of wheat for a penny sounds like a bargain these days. But consider, a measure of wheat at the time John penned the book of Revelation was two-or three pints. A penny was the day’s wages of a laborer. In North America today, a factory worker’s pay is conservatively around $40 a day. So consider: three pints of wheat for $40!

That is inflation. Moreover, as we would expect from the time sequence, the prophecy bears a striking resemblance to our own pre-tribulation times: While food is scarce, it still has a market price.

The mention of oil and wine has several layers of meaning, one of which is an allusion to the practice in ancient Roman provinces of exporting oil and wine to Rome regardless of the scarcity of food at home. The main meaning, of course, is that oil and wine, having become scarce and expensive, must be spared for the highest priority uses.

When money fails

Biblical descriptions of money and prices bring out several important lessons about high prices:

Scarcity can make your money worthless. In Joseph’s time, when “famine [crop shortage] was over all the face of the earth” (Gen. 41:56), the fact was reflected in the price of food. Thus, when Jacob sent his sons to buy food in Egypt, he told them to take “double money” (Gen. 43:12).

Another example of scarcity-induced price increases was the siege in Samaria in the time of Elisha: “And there was a great famine in Samaria: and, behold, they [the Syrians] besieged it, until an ass’s head was sold for fourscore pieces of silver, and the fourth part of a cab of dove’s dung for five pieces of silver” (II Kings 6:25).

Today, silver sells for around $8.50 an ounce. Imagine! Over $42.50 for a small quantity of bird waste!

And, of course, the law of supply and demand works the opposite way as well. When the Syrians prematurely abandoned their invasion and left their provisions behind (II Kings 7:6 and 8), the inhabitants of the city went out and gathered up those provisions. Supply increased. And prices came down.

Inflation increases the power of those who hold tangible goods. In the time of Joseph’s famine, people had money, but no food. The price of food went up, and they soon ran out of money.

(Since money in the Bible was synonymous with a given weight of silver or gold (See Ezra 7:15-17, II Kings 12:10-11), the government could not just go and print up some more.) Thus their “money failed” (Gen. 47:15), and they had to barter their livestock for food (Gen. 47:17).

After they had bartered away their livestock, they were forced to barter their land and their labor. If they hadn’t possessed some tangible goods to barter after their money ran out, they would have starved (Gen. 47:19).

And in the end, because the Egyptian government had correctly “anticipated market conditions,” it ended up owning everything. A closely related lesson from this account is that inflation favors those who hold or produce tangible necessities (as opposed to luxuries). … Of course, since gold is regarded as a disaster hedge by many investors, prudence might dictate that perhaps a small fraction of your liquid assets be in gold …

The most important inflation hedge

Be righteous. God has the supernatural power to insure that His people do not suffer privation. God always has the power to hedge you from the ravages of inflation (see Job 1:10).

King David made this principle plain: “The Lord knoweth the days of the upright: and their inheritance shall be forever. They shall not be ashamed in the evil time: and in the days of famine they shall be satisfied … I have been young, and now am old; yet have I not seen the righteous forsaken, nor his seed begging bread” (Ps. 37:18-19, 25).

So, even though we do have a responsibility to provide for our children and our grandchildren through all the know-how and skills we can muster, in the end it is God in whom we must place all our trust, never wavering. That is the most sound investment anyone can make.(Calkins J. When Money Fails. Good News, October-November 1979)

Money, meaning the US dollar, will one day fail! And the USA will be taken over (Daniel 11:39) and be no more. Yes, we need to fully put our trust in God.

Other articles from the old WCG also predicted that the Europeans would end up with their own European currency (which it now has) and that it would be expected to replace the dollar (which is something that the Europeans want to happen).

The history of the US government increasing debt is setting the stage for more inflation.

The media and the populous will demand more ‘stimulus’ –which means more debt.

Sadly, many in the media and government act like printing up money is really the solution for the US economy because of their views of government and the economy.

But there is a real risk of massive inflation–and ultimately destruction.

Related to inflation, we put out the following video:

The Bible warns, “be sure your sin will find you out” (Numbers 32:23).

There is a serious cost to having an economy pumped up with so much “dross” money.

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)

This diluting of the value of currency (called “dross” anciently), which is what the USA has been doing with its debt 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)

Dross money causes inflation.

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.

Printing more money and contributing to hyperinflation is not going to solve the debt problems of the USA.

The USA, because of the role of its dollar, can look to get away with this for longer than other nations, but the end result will be much worse than most think.

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.

Hyperinflation will hit the USA and its results will be worse than almost anyone realizes.

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.
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.
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.
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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This entry was posted on Wednesday, April 10th, 2024 at 3:00 pm and is filed under Prophecy.

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