Mere hours after the final US election returns were in, Fitch, one of the three major ratings agencies, announced that a cut in the USA’s debt rating is imminent unless the Congress and White House can get together to agree on a serious set of proposals to begin to address the runaway US debt problems (see links below). Specifically, the looming “fiscal cliff” at the beginning of 2013 must be addressed to prevent the US economy from going “into a nosedive next year,” and Fitch warns a $1,200,000,000,000 deal is quickly needed (I put in the zeros to emphasize how big the job is).
Previously, Standard and Poors had already downgraded the USA’s sovereign debt rating from its former AAA rating, and Moody’s has announced a “negative” outlook on US sovereign debt. Fitch has essentially told the White House and Congress to cooperate in some kind of agreement to avert the “fiscal cliff” or the USA’s debt rating will be lowered.
Isn’t it interesting that this major bit of very negative news about the handling of the US economy by President Obama and the members of both parties in Congress was not released until just after the election? I’m sure this was only “coincidental.”
Basically, the US election changed nothing. It left the governing status quo intact. The Democrats have control of the White House and the Senate and the Republicans control the US House of Representative and most governorships. However, the chickens are going to start coming home to roost quickly, based on the Fitch announcement. Even the German Finance Minister is cited as warning that the “global economy was burdened by the US’s huge debts.” The White House and Congress cannot continue to “kick the problems down the road” any longer. Real action is needed and needed soon.
Babylon the Great’s global economic system (our current global system of commerce long dominated by the US dollar and the US Federal Reserve System) is beginning to crumble and fracture ever more. Revelation 17-18 warns that it will eventually fall and fall hard in the years ahead of us, as long-time readers of this blog know. The Fitch warning to Congress and the White House is just one more piece of evidence that Revelation 17-18 is moving toward its inevitable fulfillment. If readers have not done so, I urge you to read my previous post entitled “US Dollar Dying Steadily in Global Markets” as it reveals a major and ominous trend developing in global commerce that the USA’s establishment media seems loathe to discuss. They certainly didn’t want to let the American voters know about it before the election.