Financial Distress: Economic Collapse is in Process

"Now listen, you rich people, weep and wail because of the misery that is coming on you... your gold and silver are corroded... you have hoarded wealth in the last days," James 5:1-3.

If a former Reagan administration official is correct, we are likely to see the next major financial collapse by the end of 2017.  According to Wikipedia, David Stockman “is an author, former businessman and U.S. politician who served as a Republican U.S. Representative from the state of Michigan (1977–1981) and as the Director of the Office of Management and Budget (1981–1985) under President Ronald Reagan.”  He has been frequently interviewed by mainstream news outlets such as CNBC, Bloomberg and PBS, and he is a highly respected voice in the financial community.  Like other analysts, Stockman believes that the U.S. economy is in dire shape, and he told Greg Hunter during a recent interview that he is convinced that the S&P 500 could soon crash “by 40% or even more”…

In 2007 and early 2008, a lot of the analysts that were loudly warning about mortgage-backed securities, a major stock market crash and an imminent recession were being mocked.  People kept asking them when “the crisis” was finally going to arrive, and leaders such as Federal Reserve Chairman Ben Bernanke confidently assured the public that the U.S. economy was not going to experience a recession.

But of course then we got to the fall of 2008 and all hell broke loose.  Investors suddenly lost trillions of dollars, millions of jobs were lost, and the U.S. economy plunged into the worst recession since the Great Depression of the 1930s.

Now we stand poised on the brink of an even worse disaster.  The U.S. national debt has almost doubled since the last crisis, corporate debt has more than doubled, and all of our long-term economic fundamentals have continued to deteriorate.

The only thing that has saved us is our ability to go into enormous amounts of debt, and once that debt bubble finally bursts it will be the biggest standard of living adjustment that Americans have ever seen. The financials markets worldwide will collapse, and institutions that have been around for 150 years will be gone into the dustbin of history.  Museums, hospitals, universities, banks and other financial firms, non-profit organizations, cities, states and the federal government will all fail the people, and many institutions will disappear.

What is important is that decades of exceedingly foolish decisions have made the greatest economic crisis in America and the world inevitable, and when it fully erupts the pain is going to be absolutely unimaginable.

James wrote this warning long ago: "Now listen, you rich people, weep and wail because of the misery that is coming on you. Your wealth has rotted, and moths have eaten your clothes. Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. Look! The wages you failed to pay the workers who mowed your fields are crying out against you. The cries of the harvesters have reached the ears of the Lord Almighty. You have lived on earth in luxury and self-indulgence. You have fattened yourselves in the day of slaughter. You have condemned and murdered the innocent one, who was not opposing you," James 5:1-6.

He continues, "Be patient, then, brothers and sisters, until the Lord’s coming. See how the farmer waits for the land to yield its valuable crop, patiently waiting for the autumn and spring rains. You too, be patient and stand firm, because the Lord’s coming is near. Don’t grumble against one another, brothers and sisters, or you will be judged. The Judge is standing at the door!," (5:7-9).

In the chaos of war, societal turmoil and economic sorrows, and because of the Anti-Messiah's desire to control the masses, Revelation 13:16-17 warns, "And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name."

     

 

Current Financial News Updates

 

DISCLAIMER: The articles below are from various new sources. The views expressed often DO NOT represent those of this ministry.

 

 

May 14, 2019

Stocks Crater – 3.5 Trillion Dollars In Global Market Cap Wiped Out – China Considers “Dumping U.S. Treasuries”

Apr 10, 2019

IMF Cuts Global Economic Outlook To Lowest Levels Since The Last Crisis

Mar 27, 2019

Just Before The Great Recession, Mountains Of Unsold Goods Piled Up In U.S. Warehouses – And Now It Is Happening Again

Mar 26, 2019

Wall Street Red Flag: A Bond Market Indicator That Has Predicted Every Recession In The Last 50 Years Just Got Triggered

Mar 22, 2019

The bond market is flashing its biggest recession sign since before the financial crisis

Mar 11, 2019

Global Economy Hits Its Weakest Spell Since Financial Crisis

Mar 8, 2019

U.S. Job Cut Announcements Rise 117 Percent To The Highest Level That We Have Seen In More Than 3 Years

Mar 7, 2019

World facing economic crisis: Growth forecast downgraded as shock brewing

Mar 5, 2019

Investors Brace For Impact: Will Wall Street Catch Up With Economic Reality?

Mar 4, 2019

Martin Weiss: Three Financial Firestorms Raging Right Now

Mar 4, 2019

Investors Brace For Impact As The Cancer That Is Ravaging “The Real Economy” Starts To Spread Feb 25, 2019

Martin Weiss: The Global Money Tsunami Is Back!

Feb 21, 2019

Jim Rogers: Debt Will Lead to Catastrophic Recession; Trump Will Ramp Up Trade Wars

Feb 19, 2019

An Unavoidable Global Recession”: The Warnings Get Louder As Worldwide Economic Numbers Continue To Deteriorate

Feb 15, 2019

“Biggest Drop In More Than Nine Years”: America’s Retail Apocalypse Is Greatly Accelerating In The Early Stages Of 2019

Jan 30, 2019

The Economic Mood Darkens: iPhone Sales Plunge 15% As Consumer Confidence Falls For The 3rd Straight Month

Jan 24, 2019

The Trump Administration Is Warning That The U.S. Economy May Not Grow At All During The First Quarter Of 2019

Jan 22, 2019

The IMF Issues A Worldwide Warning: “The Risk Of A Sharper Decline In Global Growth Has Certainly Increased” 

Jan 15, 2019

These New Numbers Are Telling Us That The Global Economic Slowdown Is Far More Advanced Than We Thought

Jan 4, 2019

The “Stock Market Crash Of 2018” Is Rapidly Transforming Into “The Financial Crisis Of 2019”

Dec 28, 2018

Financial RECESSION WARNING: Market crash SPOOKS economists - 'resembles Great Depression'

Dec 18, 2018

Are Globalists Setting The Stage For A Global Economic Reset?

Dec 18, 2018

Stocks Are On Pace For Their Worst December Since The Great Depression – The Dow Is Now Down Over 3,300 Points From The Peak

Dec 11, 2018

Stocks are on track for the worst year in a decade. Four experts weigh in on what 2019 will bring

Dec 8, 2018

“Panic-like selling” grips Wall Street as the economic numbers point to “a lot of unpleasant things that nobody wants to admit”

Dec 8, 2018

Peter Schiff: ‘Nobody Wants to Deal With the Truth,’ We May Be In a Recession Now

Dec 6, 2018

The Mainstream Media Declares That This Is “The Worst Time In Decades To Make Money In The Markets”

Dec 5, 2018

Somebody Pressed The Panic Button On Wall Street – Bank Stocks And Tech Stocks Crash As The Yield Curve Inverts

Dec 3, 2018

The Elite Are Creating An Authoritarian ‘Beast System’, And Those That Dissent Could Lose EVERYTHING

Nov 30, 2018

3 Things That Happened Just Before The Crisis Of 2008 That Are Happening Again Right Now

Nov 28, 2017

Now Even Paul Krugman Of The New York Times Is Admitting That The Next Crisis Will Likely Be Worse Than 2008

Nov 21, 2018

Stock Market Crash: The Dow Has Fallen Nearly 2,500 Points And FAANG Stocks Have Lost A TRILLION Dollars In Value

Nov 20, 2018

Dow plunges more than 500 points, erases gain for 2018

Nov 19, 2018

“The Outlook For The Global Economy Has Deteriorated”: Oil, Copper And Lumber Are All Telling Us The Next Economic Downturn Is Here

Nov 19, 2018

Jim Cramer On The U.S. Economy: “Many CEOS Have Told Me About How Quickly Things Have Cooled”

Nov 13, 2018

This Wasn’t Supposed To Happen…

Oct 30, 2018

The Stock Market Has Just Done Something That It Hasn’t Done Since 2009