Summary: The collapse of major financial institutions, the intensification of natural disasters, the never-ending acts of terrorists, the attempt of Russia to control former Soviet territories, are causing many Bible students to look at these developments as signs
The recent collapse of major financial institutions, the intensification of natural disasters, the never-ending acts of terrorists, the attempt of Russia to control former Soviet territories, are causing many Bible students to look at these developments as signs of the fast approaching End. There is no doubt in my mind that we are witnessing an unprecedented fulfillment of the End-time Signs that point to the fast approaching Return of Christ… Are we prepared for this time of crisis prior to Jesus’ return?
On a cool October day, 79 years ago, the stock market crashed. There had been a period of high stock prices and many had invested by borrowing large sums of money to buy stocks. When the market declined suddenly, their wealth was erased; their speculations were shown to be misguided. Vast fortunes were wiped away in a matter of days. It took a quarter of a century for stock prices to return just to pre-1929 levels.
Today we are in another period of economic turmoil. The terms used by media and the officials are intended to be disarming. “Conservator-ship,” “bail-out,” “state-loan,” “cash-injection,” etc. Every time a failing financial institution is “rescued” by the infusion of the state’s money (money removed from us or our children’s pockets), it is, in literal terms, being nationalized. When the state intervenes and owns businesses like this, there is another word for it: socialism. You and I are now, in theory, the owners of Freddie Mac and Fannie Mae, AIG and other financial institution. That is, their 5.4 trillion in debt is now our 5.4 trillion debt.
Almost every week now, other banks close their business… The automakers in Detroit are in a risky situation, and our own state has a budget shortfall of hundreds of millions. Hundreds of thousands of home makers are jobless.
A year ago, the Outstanding Public Debt rose to... let me see if I can pronounce it: $9,2663,897,406,911 - an astronomical number. But by now is more than 11 trillion… A guess, because no official is willing to give as the whole picture. But this is nothing comparing with Social Security and Medicare financial disaster…
Earlier this year, Richard W. Fisher, the President and Chief Executive Officer of the Federal Reserve Bank of Dallas offered the following:
Fast forward 70 or so years and ask this question:
"What is the mathematical predicament of SOCIAL SECURITY today? Answer: The amount of money the Social Security system would need today to cover all unfunded liabilities from now on - what fiscal economists call the ‘infinite horizon discounted value’ of what has already been promised recipients but has no funding mechanism currently in place—is $13.6 trillion, an amount equal with the annual gross domestic product of the United States.
MEDICARE. As you may know, the program comes in three parts: Medicare Part A, which covers hospital stays; Medicare B, which covers doctor visits; and Medicare D, the drug benefit that went into effect just two years ago. The shortfall for Medicare twenty years from now? $85 trillion. It is many times the annual output of the entire U.S. economy"...
His conclusion? I see a frightful storm brewing in the form of government debt. I choose the words—“frightful storm”—deliberately to avoid a general panic.
Senate Banking Committee Chairman Chris Dodd said on ABC’s “Good Morning America,” some days ago that “we’re literally maybe days away from a complete meltdown of our financial system, with all the implications, here at home and globally.” An extraordinarily costly plan was voted that is intended to address just the current crisis… but it is not working yet as the President reasured us.This is the world that we live in. This is the world that our children are growing up in.
Several years ago Allen Greenspan, the President of Federal Reserve Bank, in a CNN Larry King talk show said: “I encourage all Americans to tide their belts, spend less, borrow less, and save more, work hard because we are in recession, and we can pull out of it”… At that time, the national debt was equivalent with the all national assets. If you have $10,000 in your pocket, cash, and $ 10,000 debt, how much money do you have? ZERO.
Two years ago, in 2006, the same Allen Greenspan, while talking for reforming Social Security… using words very cautiously said: “Evidently, in America they are any politicians or average Americans, willing to tide their belt. Everybody wants to live as if they can afford everything. Borrowing more and more, spending more and more… which means that the future is uncertain”… (the use of this word - uncertain … good politician….
The US Government don’t have enough money to pay for everything; SS, Medicare, the war, federal institutions... And no politicians dare to raise the taxes. So it is only one way to get money: beginning with February 2006 they print money without releasing the information to the public… Nobody really knows how much money is printed anymore… this is considered top secret information for the security reasons… This means suicide for our economy…