Economic Collapse is in Process
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
David Stockman “is an author, former businessman
who served as a Republican
Representative from the state
(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
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
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
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,"
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
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."
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