The Beginning Of The End
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A Bad Mood Has Descended On World Financial Markets

Have you noticed that a really bad mood seems to have descended on world financial markets?  Fear and pessimism are everywhere.  The global economy never truly recovered from the financial crisis of 2008, and right now everyone is keeping their eyes open for the next “Lehman Brothers moment” that will send world financial markets into another tailspin.  Investors have been very nervous for quite some time now, but this week things seem to be going to a whole new level.  Fears about the spread of the debt crisis in Europe and about the failure of debt ceiling talks in the United States have really hammered global financial markets.  On Monday, the Dow Jones Industrial Average dropped 151 points.  Italian stocks fared even worse.  The stock market in Italy fell more than 3 percent on Monday.  The stock markets in Germany and France fell more than 2 percent each.  On top of everything else, the fact that protesters have stormed the U.S. embassy in Syria is causing tensions to rise significantly in the Middle East.  Everywhere you turn there seems to be more bad news and large numbers of investors are getting closer to hitting the panic button.  Hopefully things will cool down soon, because if not we could soon have another full-blown financial crisis on our hands.

Even many of those that have always tried to reassure us suddenly seem to be in a really bad mood.

For example, U.S. Treasury Secretary Timothy Geithner admitted to “Meet the Press” that the U.S. economy is really struggling and that for many Americans “it’s going to feel very hard, harder than anything they’ve experienced in their lifetime now, for a long time to come.”

Does Geithner know something that we don’t?

To say that what Americans are facing will be “harder than anything they’ve experienced in their lifetime now, for a long time to come” is very, very strong language.

It almost sounds like Timothy Geithner could be writing for The Economic Collapse blog.

It certainly is not helping things that the Democrats and the Republicans still have not agreed on a deal to raise the debt ceiling.  It is mid-July and Barack Obama and John Boehner continue to point fingers at each other.

Of course if they do reach a “deal” it will likely be a complete and total joke just like their last “deal” was.

But for now they are playing politics and trying to position themselves well for the 2012 election season.

Meanwhile, world financial markets are starting to get a little nervous about this situation.  The newly elected head of the IMF, Christine Lagarde, has stated that she “can’t imagine for a second” that we are going to see the U.S. default on any debt.  Most investors seem to agree with Lagarde for now, but if we get to August 2nd without a deal being reached things could change very quickly.

But it isn’t just the debt ceiling crisis that is causing apprehension in the United States.  The truth is that there are a host of indications that the U.S. economy is continuing to struggle.

Even big Wall Street banks are laying people off.  A recent Reuters article described the bad mood that has descended on Wall Street right now….

Goldman Sachs Group Inc (GS.N), Morgan Stanley (MS.N) and some other large U.S. investment banks are not just laying off weak performers and back-office employees. They are also cutting the pay of those they are keeping, scrutinizing expense reports and expecting even the most profitable workers to bring in more business for the same amount of compensation.

That is not a good sign for the U.S. economy.

If the corrupt Wall Street banks are even struggling, what does that mean for the rest of us?

But the big trouble recently has been in Europe.  The sovereign debt crisis continues to get worse and worse.

As I wrote about yesterday, the emerging financial crisis in Italy has EU officials in a bit of a tizzy.  If Italy requires a bailout it is going to be an unmitigated disaster.

One of the most respected financial journalists in Europe, Ambrose Evans Pritchard, says that financial tensions in the EU are rising to dangerous levels….

If the ECB’s Jean-Claude Trichet is right in claiming that Europe was on the brink of a 1930s financial cataclysm a year ago – and I think he is – it is hard see how the threat is any less serious right now.

Fall-out from Greece flattened Portugal and Ireland last week. It is engulfing Spain and Italy, countries with €6.3 trillion of public and private debt between them.

Last year it was just small countries like Greece and Ireland that were causing all the trouble.

Now Italy (the fourth largest economy in the EU) and Spain (the fifth largest economy in the EU) are making headlines.

Up to this point, the EU has had all kinds of nightmares just trying to bail countries like Greece out.

What is going to happen if Italy or Spain goes under?

At this point things with Greece have gone so badly that some EU officials are actually suggesting that Greece should just default on some of the debt.

Yes, you read the correctly.

There are news reports coming out of Europe that say that EU leaders are actually considering allowing the Greek government to default on some of their bonds.  According to The Telegraph, “the move would be part of a new bail-out plan for Greece that would put the country’s overall debt levels on a sustainable footing.”

All of this chaos is causing bond yields in Europe to go soaring.

Earlier today, The Calculated Risk blog detailed some of the stunning bond yields that we are now seeing in Europe….

The Greek 2 year yield is up to a record 31.1%.

The Portuguese 2 year yield is up to a record 18.3%.

The Irish 2 year yield is up to a record 18.1%.

And the big jump … the Italian 2 year yield is up to a record 4.1%. Still much lower than Greece, Portugal and Ireland, but rising.

Could you imagine paying 31.1% interest on your credit cards?

Well, imagine what officials in the Greek government must be feeling right about now.

If these bond yields do not go down, we are going to have a full-blown financial crisis on our hands in Europe.  If these bond yields keep rising, we are going to have a complete and total financial nightmare in Europe.

The only way that any of these nations that are drowning in debt can keep going is if they can borrow more money at low interest rates.  There are very few nations on earth that would be able to survive very high interest rates on government debt for an extended period of time.

Pay attention to what is happening in Europe, because it will eventually happen in the United States.  Right now we are only paying a little more than $400 billion in interest on the national debt each year because of the super low interest rates we are able to get.

When that changes, our interest costs are going to absolutely skyrocket.

Not that the United States needs any more economic problems.

Right now Americans are more pessimistic about the economy than they have been in ages.

In a recent article entitled “16 Reasons To Feel Really Depressed About The Direction That The Economy Is Headed” I noted a number of the recent surveys that seem to indicate that the American people are in a real bad mood about the economy right now….

*One of the key measures of consumer confidence in the United States has hit a seven-month low.

*According to Gallup, the percentage of Americans that lack confidence in U.S. banks is now at an all-time high of 36%.

*According to one recent poll, 39 percent of Americans believe that the U.S. economy has now entered a “permanent decline”.

*Another recent survey found that 48 percent of Americans believe that it is likely that another great Depression will begin within the next 12 months.

The American people are in a really bad mood and investors around the world are in a really bad mood.  More bad financial news seems to come out every single day now.  Everyone seems to be waiting for that one “moment” that is going to set off another financial panic.

Hopefully we can get through the rest of this summer without world financial markets falling apart.  But the truth is that the global economy is even more vulnerable today than it was back in 2008.  None of the things that caused the financial crash of 2008 have been fixed.

We will eventually have a repeat of 2008.  In fact, next time things could be even worse.

The entire world financial system is a house of cards sitting on a foundation of sand.  Eventually another storm is going to come and the crash is going to be great.

  • Adam

    A great website that explains bible prophesy and todays financial troubles is http://www.thetrumpet.com It’s scary how everything is coming to fruition

    • Highspeed

      Spot on Adam. Unfortunately most churches in America quit preaching about sin many years ago. Many churches that should be a refuge in the coming storm are under tremendous debt too. We should all insist that our churches get debt free a.s.a.p., perhaps then we can minister during the crises. God help us!

    • Otown Right Guy

      I remember in the cold war in the 70s that the “prophets” said the end of the world was coming. Then with the Gulf War, Saddam was supposed to be the anti-christ. Then 9-11 and prophecies around that. And we recently had the clown who said the world was going to end in May.

      Even the bible says no man knoweth when the end will come.

      • Highspeed

        Did you go to the link? There is no outright prophesy concerning when time will end. Prophecies can be fulfilled without armageddon occuring immediately thereafter.

    • Collaro

      Adam: Very informative website. Thanks for the tip. FND

  • McKinley Morganfield

    “If the corrupt Wall Street banks are even struggling… ”

    They still have trillions (5, 20, 50?) of toxic assets that they’ve been hiding on their books thanks to Bernanke, Geithner, Obama, etc. Its all just a smoke screen to keep them afloat long enough to get through the next election cycle. IMO there are only 2 choices, either we take a severe contraction now or we huff and puff away another 3-5 trillion to keep the bubble from its inevitable collapse. Then it gets interesting and nasty very fast.

    BTW, Michael. I’m surprised you’ve fallen for this default charade. There will be no default, raise the debt ceiling or don’t raise the debt ceiling. The only way a default will occur (near term) is if Obama & Geithner choose to not pay bond holders. That is something they will not do.

    Sooner or later you have to draw a line in the sand. Sooner or dead a junky or alcoholic must go cold turkey. We need to draw the line and hold it and go cold turkey. Or else say hello to the new dark age within a few years.

  • 007

    Yep, have you noticed noone is laughing at the “goldbugs” any more. As much as the “world economic economists” are surprised by the downturn, over 50% of Americans expect a depression in the next twelve months. Who are they trying to kid? They are not very convincing.

    • Otown Right Guy

      Well Dave Ramsey is still telling people to sell their gold to his advertiser because it is not an investment. Put all your money in mutual funds. Right. Let’s sell something tangible with millennia of history as a store of value and trade it for e-promises from Wall Street slime.

  • 007

    Everyone should be careful if you have your money sitting in money market accounts. They have serious exposure to the European banks. If things get much worse in Europe, you will want to keep your money close. Real close.

  • John B.

    The question is – what is an “obligation”? Why is the US government obligated to hand money over to welfare cheats? There’s enough tax receipts to pay the debt service 20 times over. Even adding in social security, medicare, and defense spending, there’s still plenty of money left over. And there’s plenty of waste that could be cut even in those programs.

    What will cause a default is continually raising the national debt. At some point, it will become impossible to service the debt, much less pay it back. Taking on too much debt is what put the EU countries at risk – not living within their budgets.

  • Colin

    Later this year, the military will be laying off service members. There is an article on this event:

    http://www.foxnews.com/politics/2011/07/08/navy-to-cut-jobs-amid-recession-driven-sailor-surplus/

  • eyestothe future

    As the world crumbles apart, there are the ones in fear and the ones excited about whats to become of all this. Which camp are you in? Amazing people still think all these qawinkadinks are somehow “scientific”, and people with faith are blinded. Droughts floods, earthquakes, wars and financial collaps are all a plan of nwo. Granted some have “awakened”, but havent quite opened their eyes all the way. All the science could not have written this down so accuratly from people who lived in rock houses and thatch roofs 2000 years ago…:. Unless you believe Jesus diciples were just a bunch of Masons sceming all this up in a plan to take over the world, just to destroy it.

  • Paul

    Sell your stocks and buy something useful. Food maybe, or a veggie garden.

    Stock trading is gambling.

  • dmitry

    crossing my fingers.

  • patriot Alice

    Those countries have borrowed their way to hell….Are we going to do the same?

    • moses737

      Yes Alice! The International Bankers/Illuminati devils want us to borrow ourselves right into their prescribed hell; where they will eventually make you their beast chipped zombie slave.

  • The Jig’s Up

    No one has a monopoly on Eschatology or special insight into “End Times”. Yes, we can “read” the signs of coming storms both meterological and eschatological Gospel based.

    HOWEVER, the pitiable and arrogant attempt to have ownership of the “End Times” signs is sad and pathetic.

    For all the Self-Righteous Whited Sepulchers (tombs) with enormous planks that they cannot see in their own eyes who are trying to revel in collapse and suffering—

    See Luke Chapter 13 Verse 4 and Christ’s statement about the victims of the collapse of the Tower of Siloam. To those who thought they saw “victory and pay back” in the fall of the tower which killed 18 souls. Christ said, “Do you think they were more guilty than all the other dwellers in Jerusalem? I tell you no, but unless you repent you will all perish in the same manner”.

    As the World’s Finances and Civilization continues to Collapse we will see a great amount of suffering and death. Many of those suffering and dying will be like the 18 killed at the Tower of Siloam or they may be like the Innocent Murdered by King Herod. The children killed by King Herod were the essence of innocence yet they were murdered and died.

    The attempt by the vicious and self-righteous is quite dark and sad to see.

    Ultimately we do not know why some suffer and others do not. To revel in suffering and death as if you are somehow above or better than “all the other sinners” is a mark of arrogance and Phariseeism.

    Remember your own HUGE PLANK in YOUR EYE as Christ told you to do!!!

    • Rev. Reggie Jackson

      Sorry The Jigs Up. But God has given about 1 out of 10 the ability to understand the end-times; and He calls them prophets and apostles. So don’t be so hasty to condemn people who have greater gifts than you do. And because we have a higher calling; don’t shoot the messenger. I gave my life to Jesus in May of 1974, reading the great prophetical book, “The Late Great Planet Earth.” by Hal Lindsey. So I have been an authority on Bible prophesy as well as a New Testament preacher of His glory and power. So be cool and be mad at the devil and his International Banker/Illuminati puppet masters who rule the whole Earth.

      And will rule it even greater for a short time; as they will try to force everybody to take their zombie making and mind controlling mark of the beast chip in everybodies forehead and hand; like it says in Revelation 13 and 14 chapters. And if you take their Mark (chip) you will forever be tormented, 24/7, because it will mean that you have chosen Satan and his antichrist beast leader as your god and lord. (Revelation 14:9-11).

  • Diana

    I wonder if we got EVERYONE to BUY PREPS if we could keep the economy humming along?

  • Dave

    Another excellent article. Keep up the good work. We need to know the real truth.

  • http://theeconomiccollapseblog.com/archives/young-girls-banned-from-selling-girl-scout-cookies-on-their-own-front-lawn Haalen

    Imagine a bus that is in good working order, swerves and mows down a bunch of people on a sidewalk then heads over a cliff, is the problem the bus, or the driver? It’s the driver.

    Likewise, America fundamentally has a good government, if we were to follow the principles of the constitution. The problem is the bus driver. What we need is a new bus driver.

    What kind of bus driver do we need? Liberals vote for democrats and conservatives vote for republicans. Over my lifetime not much has changed with either of these guys driving the bus. Why do we keep voting for them? Because we like what they are telling us at election time? Because we want the lesser of the two evils?

    Let’s just throw evil bums out.

    Welfare recipients vote for democrats for the promise of a welfare check. Conservatives vote for republicans for the promise of tax breaks and a dividend check. Both are wealth consumers and neither has any moral standing or greater virtue. It’s all self-interest.

    Who gave us the two parties we get to select from? Why do we have only two choices? And, where do we get all these issues that keep coming at us, to overwhelm and confuse us, to inspire us to turn on each other, like a slab of meat thrown into a pen of hungry dogs? Our ruling class! All these issues that come upon us are the symptoms, the consequences of a deeper single problem.

    Look, we have the two parties to divide and conquer. A house divided against itself can’t stand. The liberals scream—tax the rich. For crying out loud, the democrats are the rich. Are they going to tax themselves? I don’t think so. At least it’s obvious where the republicans stand.

    Over the past 60 years or so, we lived the life of: don’t worry be happy; go to the show and have a coke and ignored what was going on. The money master’s debt-credit money system did this to us. We could have prosperity with real money, and ethics and morality.

    Democrats are pied-pipers just like the republicans, one screams tax, tax, the other screams, no, don’t tax. The end result, the two controlling rich political parties tax the middle class. They both support wall-street money masters against Americans. Folks, if you want to survive, you better answer the question why is this happening and take steps to protect yourselves. http://kjv.us/deuteronomy/28.htm

    ‘For the Good of the Party’ http://lewrockwell.com/grigg/grigg-w222.html

  • http://thepubliccause.com/ LA Sunset

    The mood is called, Obama. And it’s a sour one.

  • http://www.prepareforeconomiccollapse.org James Bell

    Michael, of course Mr Geithner kows what’s going on but he will never say it publicly. Instead he and all the other politicians and bankers just dance around the subject to keep the masses from freaking out while they continue to personally prepare themselves for the collapse by buying things like gold.

    Why do you think central banks, china, India, Uni of Texas etc are stocking up on gold?

    The new Euro debt fears today made gold rally like crazy today.

    Check out the chart here.

    http://www.kitco.com/charts/livegold.html

    The cartel have been fighting for weeks to keep the price below $1550 but today we broke through that resistance level and gold will be pushing much higher from here because it is one of the best ways to preserve one’s wealth as I mention in the Prepare for Economic Collapse report.

    http://www.prepareforeconomiccollapse.org/free-report

    As always, thanks for all the work you’re putting into this blog Michael. Your efforts will save thousands of people from total disaster.

    Cheers,

    James

    • McKinley Morganfield

      “The cartel have been fighting for weeks to keep the price below $1550 but today we broke through that resistance level and gold will be pushing much higher from here because it is one of the best ways to preserve one’s wealth as I mention in the Prepare for Economic Collapse report.”

      Likewise they are desperate to keep silver below $40. They would like to see silver back at $10 and gold back at $200. Ain’t going to happen.

  • Maria

    I have some good news! :) All this craziness is going to create one bright spot in the markets. Silver and gold are going parabolic soon. Take a listen to what James Dines has to say about it…$300-$500 oz silver!

    http://kingworldnews.com/kingworldnews/Broadcast/Entries/2011/7/12_James_Dines.html

  • http://rapture-hoax.blogspot.com/2011/07/jesus-said-at-last-day.html TK

    A bad mood is right!

    It appears that people are starting to wake up.

    Maybe come election time, there will be some decent candidates to vote for. The only problem is the voting public will be split between those that want to do the right thing and take the medicine, and the other half will vote for those who will kick the can down the road, to insure they get their handouts.

    • McKinley Morganfield

      Bingo.

  • El Pollo de Oro

    Michael T. Snyder writes: “We will eventually have a repeat of 2008. In fact, next time things could be even worse.” I wish I could disagree with that statement, but I can’t. All of the evidence indicates that things will only get worse for The Banana Republic of America (formerly the USA).

    The BRA went into a recession in 2007, and that recession became a full-blown depression in September 2008. Steve Cordasco, an economist who hosts a financial talk show here in Philly, has said that we are in a “managed depression.” I agree. All the bailouts, stimulus, etc. are meant to “manage” this depression and prevent things from getting even worse, but they aren’t working. This incredibly sick patient called the BRA economy is getting worse, not better. And when the next crash happens, it will be even more brutal than the crash of September 2008. In fact, I agree with Gerald Celente when he says that the BRA is getting ready to enter The Greatest Depression, meaning a depression that will be even worse than The Great Depression of the 1930s. All hell is going to break loose in the BRA. Get ready for food riots, get ready for violent crime to skyrocket to Third World levels, get ready for shantytown slums, get ready for civil unrest that will make the Los Angeles riots of 1992 look like Sesame Street.

    “When the money stops flowing down to Main Street, the blood begins to flow in the streets.”—Gerald Celente

    And the blood will flow alright. Get ready for the blood to flow like the Amazon River through the streets of this Third World horror movie that used to be the United States. The economic crash that lies ahead will be unlike anything we have seen in our lifetime. The violence, the mayhem, the chaos and the suffering will be horrific.

    Millions of jobs have been lost in this depression, and millions more will be lost after the next big crash. Millions of formerly middle class Americans have become the neo-poor, and millions more will join them in their agony, suffering and hopelessness.

    Welcome to life in a rotting, decaying, collapsing Third World hellhole. Welcome to a grim, hopeless existence in The Banana Republic of America (formerly the USA).

    • bobbobbobbob

      we still produce all the food we need and thanks to mcpain loosing we still produce autos. u forget each negative has political reasons. google “tax credits for exporting us jobs.(called outsourcing) which is supported by all the terroristrepublicans and the blue dogs. this blog is against O-care but proposes no alternative. remember what those wasps at walmart think of their employees Pesants. google “walmart pesant insurance’ BE BLESSED

      • Gary2

        You are correct. The economy of any country is based more on political decisions than any thing else. We decided it was ok in the usa to funnel all the wealth to the top in hopes it wold trickle down. Anyone with the IQ of a carrot stick can see that this will never work and lo and behold it hasn’t.

        We have decided that it is more important to give more tax cuts to the rich (Ryan plan) than it is to take care of health care for the elderly. That has NOTHING to do with economics and EVERYTHING to do with political decisions.

        We have decided that it is more important to give tax cuts to corporations than to educate our children. Now we get to have 40 kids to a classroom with a teacher barley making above wal-mart wages. Again there is PLENTY of money its just a matter of how politicians decide what to use it for. Tax cuts for the rich VS helping the poor.

        We need trickle UP economics. To get from here to there we need to tax the rich hard.

  • Gary2

    The too big to fail are even bigger. Were screwed.

  • VegasBob

    Eventually, the American people will come to realize that corrupt politicians and corrupt corporate leaders have destroyed what used to be the world’s greatest industrial economy, and replaced it with a Potemkin economy.

    In America’s new Potemkin economy, things might look OK on the surface to the casual observer, but anyone who has the courage to scratch beneath the surface will quickly see that the US economy is now nothing more than smoke and mirrors – an edifice of government-sponsored fraud, lies, and unpayable debt.

    Those with vision already know that President Obama will lose in a landslide in 2012, no matter who the Republicans nominate. Obama’s Republican successor, who will take office in January 2013, will be charged with conjuring up a recovery from the Greatest Depression – an economic disaster even worse than the Depression of the 1930s. This will be a truly impossible task.

    Why will it be worse than the 1930s, and why will it be an impossible task? It’s simple, really. We now have mountains of unpayable debt, just as we did in the 1930s. All this bad debt must be cleared away through default before any kind of true recovery can begin. But in the 21st century, we have a second looming problem that did not exist 80 years ago – resource scarcity. Specifically, the world’s production of oil and food is reaching a maximum, and fresh water supplies are dwindling.

    Unpayable debt plus resource scarcity will equal the Greatest Depression, and it will easily last for 2 or more decades.

    • bobbobbobbob

      the republicans will probably loose because the 26 th district in ny state which went heavily for Mcpain was a landslide for the dems. the older whites in that district may be racists but they are not stupid racists ie the will vote their econmic interests. see u in med schoool

    • Rev. Reggie Jackson

      I somewhat agree with you Vegas Bob. But the reason that this depression will be worse is because the International Bankers/Illuminati devils will try to restrict people from planting their own food. And because 80% of our population is urban and not rural; people don’t know how to plant and will be roaming the streets in dispair from the depression. there will be lootings and robberies and rapes and killings.

      But those of us who know God will be safe. And then too; there will be wars on American soil also. But the antichrist will have a solution. Lets just all give up our rights and take their mark of the beast and become one gigantic world wide happy family in Lucifer. And they will blame everything on the Great God of Heaven and convince people to worship any God; but the God of the Holy Bible.

      And then they will also suggest at first that we take their mark of the beast chip. And then once taken; it will eventually turn you into their zombie and brainless slave. And those of us who won’t take it will be killed and martyred. But our rewards will be great. While those who take it will be tormented 24/7, and without rest.

      But the antichrist beast leader and his leaders and their workers shall be tormented 5 to 10 times worse than your average beast chipped zombie lakey slave.

  • http://www,Back2theLand.com Old Timer

    Rest assured if the house of cards- your entitlements stops- you will still be oweing and still be required to pay, and pay, and pay.

    The only thing you can do is go the Dave Ramsey.com route and pay off the debt, then stock up on basics: like food.

    Too many informed people who are not selling anything are encouraging and advising you to get off the pot and become a prepper.

    God Bless,

    Old Timer
    http://www.back2theland.com

  • Jake

    Each summer when I put my honey bees on Big Walker Mt. for sourwood honey I eat breakfast at a restaurant along I-81. The place has always been packed. This morning I was the only customer. For 30 minutes I was the only customer. When I asked the waitress where is everybody she said that sunday was off 39% from the same sunday in July 2010 and they took in a lot less money. This is a nice national chain restaurant. The summer tourists are not coming to the mountains. People are not coming to the campgrounds along the Blue Ridge. Not as many folks have $ for vacations, even inexpensive ones. Sometimes it feels like we’re in the really calm 15 minutes before the storm hits.

    • Rev. Reggie Jackson

      Yes Jake this is horrible; but people are really being hurt because of the actions of the International Bankers/Illuminati kingpins who want to destroy the American economy, so they can have their domino effect and destroy the economies of the whole world. And then their beast chip is on its way. And then they will martyr Gods people who won’t take their mark of the beast chip in their hand or forehead.

      And then God will send His mighty plagues from heaven. And then God the Father will send His Son Jesus Christ and His mighty angels to defeat these devils in hours. And then they will be judged and sentenced into worse parts of hell imaginable. While we that died or died knowing Jesus will be living like gods and goddesses on the renovated and beautified Earth and in heaven.

      • the Beast

        God is the Greatest!!! And no greatness except God!

  • ZombieDog

    Adam – you might want to read “When Prophecy Fails” sometime…
    Religion hasn’t got it right yet and never will…
    Meanwhile in the real world…

    • http://NA Noone Speacle

      it is sad that you have let others discourage you in this way. I regret and pray for the false prophets. The Bible is true and prophecy will be fullfilled in due time. God is the same yesterday, today, and tomarrow. You will see in the end God’s will be done and His kindom come.

  • http://TheEconomicCollapse Dave

    Adam says,
    “A great website that explains bible prophesy and todays financial troubles is http://www.thetrumpet.com It’s scary how everything is coming to fruition.”

    Careful, Adam and others, I was a member of that organization that is putting out that crap for twenty-five years. They specialize in trying to dovetail bible eschatology with the doom and gloom news of today. Their understanding is based on faulty dispensationalism and poor understanding of biblical linguistics. Their real hope is for you to join them to keep their money machine going. A word to the wise.

    • moses737

      Dave is the trumpet Christian? I dont think so; so they must be trumpeting for the NWO International Bankers/Illuminati.

  • Rev. Reggie Jackson

    Are we headed for a depression. Yes! And the International Bankers/Illuminati pulled all of the good money out of their banks before they crash everything. They did this when they robbed the American government in 2008 with that bailout. And then; it is said that they stole all of the gold out of Fort Knox. And thats why they are saying that the Italian Or French guy raped a woman.
    These devils mentioned above have so much blood on their hands for the last 250 years or so; and their tormentings in hell will be forever legendary.

  • Gary2

    I have a question-regarding all the God stuff etc. I have prayed to be rich. didn’t work. I lowered my expectations and prayed that my gas tank be filled the next morning. The gauge is still on empty. I pray for good health and get sick.

    Whats the use?? God needs to show me the money. What good is he/she if they don’t do what I want. Its all fine and good to contemplate the after life but I need to eat now.

    I have tried to read the bible and its so boring. I can’t seem to make myself care about who beget who, or if some dude builds an ark. It has no bearing on me today.

    It seems to me that simply quoting verses from a 2000 year old book about beasts, 666, tribulations etc and doing nothing is at best a waste. I want wealth NOW and care nothing about all the sci fi stuff.

    I am in no way trying to offend anyone on this site. Its just that a lot of folks refer to end times etc and sit back and do nothing. There have always been people saying end times and they have all been wrong.

    The pastor said what does it gain a man to have lots of wealth and loose his soul. I said it gains him a pretty great life RIGHT NOW, and who is to say he will loose his soul.

    Please don’t tell me “it could be worse” because an equally valid retort is that it “could be better” The seeing of a man with no feet , while I feel bad for him, does nothing to get me shoes for my feet.

    • Macnasty

      Gary I read what you said and everything is about I or me,I don’t know you nor you know me I make no judgement but there is something greater than the both of us……history is a wonderful teacher but we refuse to learn because I, we think we can do it better look and think,1903 pedal powered yes pedal powered glider flew 103 feet and look today jets, little over a 100 years, look at all the time up to that point and the short amount of time after,something big is on the horizon be prepared

  • tommcd

    Peter Schiff has said many times that not raising the US debt ceiling would be a problem at all. Indeed, he believes that not raising the debt ceiling would be be the best thing that could happen. The problem is not the debt ceiling. The problem is not taxes. The problem is government spending.
    If we continue to raise the debt ceiling, eventually we will reach a ceiling on lending. Individuals, institutions, and foreign governments will stop lending to us at some point. This is already happening, most notably with China selling it’s T-bills.
    It would be better to face this lending limit now and live within our means than to try to face it later when it will be much harder to deal with.

  • tommcd

    I meant to say: Peter Schiff has said many times that not raising the US debt ceiling would NOT be a problem at all.

  • Mark

    The American people concerned with the Federal Reserve using up too many resources demanded that they conserve energy and cut back like the rest of Americans. On Tuesday the American citizens passed austerity measures against the Fed which shut down some of the printing presses. This was met with angry and comedic protests by Bernanke, Geithner and other snobby banksters on the streets of New York city. Some of them carried large signs and had hissy fits. Several banksters began handing out freshly printed dollars and plastic debit cards in hope of getting a few people on their side.

  • Maria

    Gary2,

    What do you want to believe?

    Faith is like happiness. It is a choice. Nobody can make you happy. You have to choose to be that way. Believing in God is a decision. You can choose to believe…or not. You have a free will. Every person in this world has that. Rich or poor.

    People who search for answers about politics or the economy are often really searching for truth. It is a similar type of search that leads people to find out about God. Maybe that is why so many people feel compelled to share the word of God on blogs like this one. They know people are here seeking the truth.

    Here’s a video for you. http://www.youtube.com/watch?v=WCrKTC8fXIs&feature=related

    One More Freaking Dollar. It’s a group called the Kelly Family Singers. They were a successful music group in Europe. All that wealth and fame, and the lead singer walked away from it all. He became a monk for six years. He was basically asking the same question you asked here.

    What’s the use?

    I think a lot of us are asking ourselves the same question.

    The answer is all or nothing.

    http://www.youtube.com/watch?v=LmXdRA5AMp4&feature=related

  • the Beast

    People seemed to forget whenever they said about the Armageddon that things are horrible and emphasis the horror in it. They should know that the aftermath of it is the establishment of God’s kingdom in the face of this earth, new Jerusalem, Olam haba, the Nirvana on earth where justice prevails as it was previously dominated by injustice. I personally am eagerly looking forward for this collapse and the coming of the Universal Messiah. As for what happen in between, I beseech help and protection from God.
    There is no power but of God.

  • patriot alice

    Too big to bail, and too big to fail is the new norm, it’s hard to believe that even though Europe is leading the way to hell because of their high debt, here in the USA we continue to print, borrow and spend our way to hell too. When will they stop? To continue borrowing 2 trillion dollars a year to prop up a false economy is crazy. Huge cuts in government spending and tax cuts for the private sector to create jobs is the only solution, but politics won’t allow it to happen…..

  • http://NA Noone Speacle

    To those who are left behind at the rapture. invest in amo for it will be the new currency

  • http://www.draimanformayor.co YJ Draiman for Mayor of LA

    YJ came to Los Angeles. He resides in Northridge and has lived there ever since. As a resident of Northridge, he developed an interest in the Northridge East Neighborhood Council (NENC). In 2010 he was elected as a Member of the Council’s Board of Directors. Today, he’s the Secretary and he serves on both the Executive and Finance Committees. Moreover, YJ also represents the NENC on the Northridge Vision Organization. In 2010 YJ was a candidate for Councilman in District 12th. YJ is currently working on his PHD in Energy conservation.
    YJ Draiman wants to be your Mayor! He feels his successful business experience has given him the skills, abilities and insights needed to balance the interests of the City’s very diverse communities. In the end, YJ believes all Angelinos (himself included) expect City government to be effective and efficient—to provide excellent services at an affordable price.
    To achieve those goals, YJ is committed to an ambitious jobs program: he’ll bring back those businesses that were forced—by the City’s high tax rate—to leave Los Angeles. Moreover, he’ll actively support the creation of new businesses in renewable energy and energy conservation.
    YJ reminds Angelinos, “Don’t forget that our City normally gets more sunlight than any other city in America. That fact must be used to our advantage.

  • http://www.draimanformayor.co YJ Draiman for Mayor of LA

    Is the year 2013 Los Angeles Voters must kick the bums out of City Hall

    2013 is the year Los Angeles Voters can change City Hall and kick the bums out of LA City Council, with a Mayoral election and eight of fifteen seats up for re-election. That could be an opportunity to field a slate in opposition against the incumbents and to band together behind a big issue, like land use reform. Land use is how the city can accommodate growth and even boost the economy. Fiscal responsibility, Education reform, Public transportation expansion and reduced bureaucracy, we need credible new candidates with a strong backbone to stand up to the current administration and bring about the change to improve conditions in the City of Los Angeles.
    I fill confident, that if people want change they’d just vote for it.

    After all this is supposed to be “Government by the people for the people”. Let us exercise our right as citizens and vote the bums out.

    What we need is a Statesman – Not a Politician

    YJ Draiman

    http://www.yjdraimanformayor.com

    PS.
    A Statesman or Politician, What is The Difference?
    A politician is only focused on reelection.
    A politician is willing to sacrifice his principals if it will help them get reelected. This leads to the waters of their character becoming muddied. When a person’s character becomes tarnished it takes a lot harder to clean it than it is to clean tarnished silver, and even if you do clean it, it will st…ill have lost some of its luster.
    Politicians want their name in lights.
    Politicians want fame and recognition, and will do almost anything to get it. To quote a great mentor of mine “there are those people who want to be somebody, and then there are those who want to do something.” Politicians are the people who want to be somebody; they want to see their names on TV and on news papers. This also can lead to a tarnished character.
    A politician’s vote can be bought.
    A politician is in it for the money, they will vote your way for a price. This opens the door for your character to become tarnished.
    A statesman is principled.
    A statesman always puts his principles first. He does not care about the political implications of a decision he cares about whether or no it is the right thing to do.
    A statesman wants to make a difference.
    A statesman doesn’t want to see his name in lights, he want the right thing done. He doesn’t care is his name is ever on the front page of the Dallas Morning News.
    A statesman is unshakable.
    A statesman cannot be bought. He is feared by lobbyist and his opponents alike, but respected by both. He holds fast to his principles and never tarnishes his character.
    A Politician or Statesman?
    What this country needs are not more politicians who campaign one way and vote another. What we need are more patriotic, principled, steadfast, prudent, statesmen.
    YJ Draiman

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