The global financial crisis is now becoming so extensive and visible that even those who are acknowledged as experts within the mainstream investing community are warning that there is no escape from a global fiscal crisis of epic proportions. Many such predictions are available in what are called “fringe” internet sources, but when even establishment figures warn of a major fiscal crisis being imminent, we should all both take warning and take action to protect ourselves and our families as much as is possible.
The first link is a USA Today interview with Nouriel Roubini, a very mainstream figure, who warns that the USA is facing a “fiscal cliff” [which] could be a doozy.” His interview primarily focuses on the USA’s situation, but mentions the Eurozone as well. He predicts the USA will enter a “nasty recession” soon after the expiration of numerous tax laws at the end of this calendar year. This will take place unless Congress can put aside its gridlock and act to prevent it. Given the fact that the GOP House and the Democrat Senate haven’t been able to cooperate on anything of late, the odds of that recession taking place are strong. However, it is possible that a lame-duck Congress meeting after the November elections but before the seating of a new Congress might take some needed actions. Roubini also warns that “the eurozone looks like a slow-motion trainwreck.”
The second link is an article by Dr. Martin Weiss, who is not only well-known in mainstream financial circles, but is also known for his independent analysis. He is more grim that Mr. Nouriel Roubini. Dr. Weiss asserts that the “next big megashock is both quite predictable and virtually unstoppable.” His article examines the Eurozone crisis in detail, and addresses the risks of the failures of European mega-banks and even entire sovereign nations. He notes that Greece now has a caretaker government appointed by EU outsiders and that there have been “MASS withdrawals” (emphasis not added) from Greek banks that are “similar to the US banking panic of the early 1930s.” Spain’s economy and banks are described as heading for a major crisis, an one large Spanish bank was already being hit by “depositors…rushing to withdraw their money from it.” His entire commentary is well worth reading.
In the third link, Glenn Beck cites the warnings of Raoul Paul, who is a former manager of a large global investment fund and a “Goldman Sachs alum.” This article is entitled “Economist: Unstoppable economic collapse is imminent,” and I very strongly suggest it is in your vital personal financial interests to read this third link. The article predicts: “the worst economic shock the world has ever seen and, even worse, there’s nothing we can do to stop it.” It warns that due to uncontrolled debt levels, a series of sovereign debt defaults is coming, and it makes the startling observation that “The 10 largest debtor nations on earth have total debts of over 300% of world GDP.” Let that sentence sink in for a while to absorb its mind-numbing consequences. It makes me, a layman, think that the obvious conclusion is that these sovereign debts are unpayable and will never be paid off—unless it is with very inflated fiat currencies with greatly lessened purchasing power. The article paints a very grim picture of our immediate future, and adds “we have around six months of trading in western markets to protect ourselves” and “From a timing perspective, I think 2012 or 2013 will usher in the end [of the global financial system that we now have].”
There you have it. Even mainstream financial analysts are making such grim predictions about what is inevitably going to occur in our foreseeable future. Biblically, these links fit perfectly with the prophecies of Revelation 17-18, that a global financial/monetary collapse will occur in the latter days and that nothing can prevent it from happening. None of us know the date on which it will occur or what will be the trigger that starts this collapse, but even mainstream analysts are now giving warnings that a global financial crisis is imminent. When the prophesied collapse occurs, it will be followed by the establishment of final, global “beast” system (Revelation 17:12) which will have only 42 months to be in power (Revelation 13:5) before Jesus Christ returns at the head of a heavenly army to take control over the entire earth (Revelation 19:11-21). It certainly appears that we are nearing the end-game of the latter-day prophetic sequences.
Have you done anything yet to prepare for the severe consequences that this prophesied collapse will have on you, your family, neighborhood and city? I hope so. If not, I suggest you begin doing so…while you still have some time to prepare. I urge you to read my article, Should Christians Prepare for Future Hard Times?, as a way to get started. That article cites a FEMA list of basic necessities that everyone should have on hand for emergencies. The Bible and secular financial analysts tell us that the “emergency” is coming. If you take these warnings seriously, consider forwarding this post to others you care about, so they can prepare as well.