I would never predict anything. I’ve lived long enough to know that almost every prediction made by a man or a woman, or a child [as the world now heeds and obeys the words of children leading them more and more] proves to be false. Invalid. Dead wrong.
Mr. Black, writing in the Activist Post, takes a purely material worldview. As do most writers, reporters, speakers, and folks today. Even many of those proclaiming they are disciples of the Lord Jesus Christ, a.k.a. Christians.
I pay attention to worldly matters and events. That ought to be evident to anyone who has spent more than five minutes in this place. And I am keenly aware of the American debt problem, the American economic problem. With almost everything being told to we the people an out and out lie or great distortion [just another word for lying] with regard to the vibrancy, health, and growth of the American economy.
To tell the truth, to present the facts to folks would cause downright chaos, rioting, fear, violence, and mayhem. Not to mention making a few folks rather upset.
The material world cannot be isolated or separated from the spiritual world. No matter how much people try or live to avoid such reality. Every person has a spirit, an eternal spirit, and a soul within them. A consciousness. Created in them by God the Creator.
We are not animals. We are not the by-product of explosions in the vacuum of space to somehow form this perfect in operation solar system with the diversity of life and all that we behold and know in this world.
I do know, as limited and feeble is my knowledge of every cog and mechanism within the U.S. economy that is directly tied to and functions through and by the measures taken by the U.S. government, American companies and corporations, all the financial institutions, and every person living in America. Compounded by outside world events and forces.
Who has the audacity, the ego, no matter their level of economic education to predict what will happen?
But in my feebleness of knowledge, I do know that if we remain in our past and current ways there will be a dire, drastic, horrific day of reckoning.
Ten years from now? Don’t know. Who’s really capable of saying? Could happen next week or two years from now. This could happen as a result of the next biological viral warfare event. Can anyone say with certainty what will occur in the next five minutes let alone next year, or ten years from now? What arrogance of men and women. And children who are listened to as if they are oracles.
There is a day of reckoning even more dire, drastic, and horrific coming for the people of America and the world than economic collapse. Which is likely to occur on a scale heretofore never known. Possibly one event to aid the revealing and ushering in of the Antichrist and his false prophet. No one ought dare to predict when that day arrives. Or the Day of the Lord to swiftly follow afterward. The last day of world history as it has been known. Most falling in horror and the greatest of fears, the eternal Second Death — all because they refused to believe and obey the greatest event to occur in world history to date. God coming to earth. God living among us. God sacrificed Himself on the cross to die for our sin. God resurrected on the Third Day conquering death to reveal the promise of God to give eternal life to those who acknowledge Him, believe Him, abide in Him, follow Him, serve Him, and spread the word about Him to others.
Count your money.
Count your blessings.
Do you count yourself and those you love and know among the children of God, the disciples of the Lord Jesus Christ, assured in the blessed hope and promise of the reward for receiving the Word of God, believing the Word of God, receiving salvation through faith alone, in Christ alone — eternal life in heaven with the Lord. For faithfulness and obedience to His Word until the end.
Yes, times the likes of which the world has never witnessed are coming. On the horizon. The dust and distant sound of their hoofs can already be seen and heard.
Prepare. Not only with mutual funds, IRAs, bonds, stocks, gold, silver, and the things the world serves as treasure, as reward, as security. All of which can fail, has failed, will fail, will amount to nothing in the end.
Prepare daily in the ways and Word of the Lord. A lasting treasure. Beyond all the gold, jewels, treasure, money, and false security this world can offer.
An individual may only have today to turn themselves around. To God. To Christ. To the Holy Spirit. To faithfulness and obedience to God. To the Word of God. For nothing is guaranteed as to how many more days each of us has.
Do not put off until too late what can be done today.
Eternities depend upon such actions taken.
Economic collapse and ruin is nothing compared to spiritual collapse and ruin. One will be forgotten and never remembered. The other is never forgotten and remembered in the greatest of agonies and pain forever. FOREVER. ENDLESSLY. ETERNALLY.
Not a joke. Not something to blow off, shrug over and gamble with.
Ken Pullen, A CROOKED PATH, Tuesday, June 27th, 2023
America Has Less Than a Decade to Turn Itself Around
June 22, 2023
By Simon Black
Reprinted from Activist Post
TOPICS:
Well, that didn’t take long.
From the time the U.S. government managed to sign the debt ceiling resolution, it took just thirteen days for the national debt to soar by nearly $600 billion.
At that pace, they added over $500,000 to the national debt every second.
The U.S. national debt has now breached $32 trillion… meaning America’s debt-to-GDP ratio is now 121%. Historically, advanced nations tend to get into trouble when debt-to-GDP reaches around 90%. The U.S. is way past that threshold — but I’ll return to that point in a moment.
First, any time there’s a discussion about the national debt, invariably some idiot says something stupid like “the debt doesn’t matter because we owe it to ourselves.”
This is one of these irrational aphorisms (like “silence is violence”) that people like to repeat over and over again until they believe it to be true. But it’s not true. The debt matters. But let’s first examine who owns it:
Foreign governments like China, Japan, and Saudi Arabia hold a combined $7.4 trillion of U.S. debt.
The Federal Reserve owns $5.1 trillion of U.S. debt.
Social Security owns another $2.7 trillion of U.S. debt, which of course is money owed to American retirees. Similarly, the Military Retirement Fund holds about $1.36 trillion.
State and local governments hold about $1.55 trillion combined in U.S. debt.
Mutual funds own another $2.84 trillion.
Banks own trillions worth of the national debt. Banks buy U.S. government bonds with their depositors’ money, i.e., YOUR money.
JPMorgan Chase alone owns about $300 billion worth of U.S. government debt. Silicon Valley Bank famously held about $120 billion of U.S. government debt before they went bust.
Even the Federal Deposit Insurance Corporation, which is supposed to guarantee bank deposits up to $250,000, owns about $128 billion worth of U.S. government debt.
Then there are countless businesses and individuals around the world who own U.S. government debt, simply because Treasury Bonds are considered “risk free”.
Now, when people say that “we owe it to ourselves”, they mean that most of the debt is NOT owed to foreigners. And this is true. Foreigners own just under 25% of the debt.
But does that make it OK to default on the other 75%? Is it somehow acceptable to default on banks across America, which bought U.S. Treasuries with their customers’ money? Is it OK to default on 50+ million Social Security recipients? Or military retirees?
That’s why the “we owe it to ourselves” crowd is completely delusional. They seem to think that it doesn’t matter if the government defaults on, say, the Federal Reserve, or Social Security. But doing so would cause disastrous consequences — global economic meltdown, national social crisis, etc.
So, in order to avoid a major catastrophe, the debt needs to be repaid.
But with the national debt at 121% of GDP, is repaying it even possible anymore?
Technically, yes. And it all comes down to growth.
Back in the 1980s and 1990s, the U.S. economy grew an average of 3.3% per year after adjusting for inflation; economists call this “real” GDP growth.
But real GDP growth since 2000 has been much lower, averaging just 2%. And it turns out that the 1.3% difference in growth has had an enormous impact.
To give you an example, if real U.S. economic growth had remained at 3.3% for the past 20 years, government tax revenue (which averages ~18% of GDP) would have grown substantially.
Along with some very modest spending restraint, budget deficits would have melted away over the past two decades, and America’s debt-to-GDP ratio would today be less than 50%… and falling.
And by 2033, the U.S. national debt would be zero. Social Security would be completely funded. The U.S. would have no financial challenges whatsoever. And the U.S. dollar’s dominance would be sacrosanct.
Economic life today would be a completely different reality… if the U.S. economy had only grown more quickly.
It’s not like an additional 1.3% growth isn’t achievable; again, the U.S. consistently hit this number for decades.
You’d think that politicians would understand something so obvious, and that they’d do everything in their power to maximize growth. They’d embrace capitalism, cut red tape, create incentives for production, support small businesses, make taxes more efficient, etc.
Or at a minimum, they’d simply stay out of the way.
But instead, they do the opposite. They paid people to stay home and not work. They single out critical sectors (like energy companies) and punish them. They constantly threaten businesses, invent new regulatory burdens, stifle innovation, and attempt to systematically destroy capitalism, brick-by-brick.
So, no, based on current trajectory, it looks like the debt problem will keep getting worse… until the catastrophes of default are unavoidable.
The federal government has already acknowledged that Social Security’s trust funds will run out of money in about 10 years. This means that, at best, America has less than a decade to turn itself around.
Again, technically this IS possible. But time is running out. And this is why it makes so much sense to have a Plan B.
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