Thursday, March 1, 2012

"The Global Debt Bomb" (or Our Big, Fat Greek Country)

Exploding debt has torpedoed Greece, rattled much of the Euro Zone and splattered the rest of the globe with fallout. That's the downside to a global economy--one country gets hit--we all begin to wobble.

The International Monetary Fund (IMF) has been scrambling since May of 2009 hoping to stabilize world markets. But all they've seemed to accomplish is more bailouts, more borrowing, and yes, more debt bombs.

Here in the U.S., it took the federal government 200 years to produce its first one trillion dollar budget. Today, Washington runs annual deficits twice as large--astonishing when you consider the surplus of only 10 years ago.

Social Security and Medicare are broke. Edmund Andrews of the New York Times put it this way: "The nation's oldest baby boomers are approaching 65, setting off what experts have warned for years will be a fiscal nightmare for the government. What a good country or a good squirrel should be doing is stashing away nuts for the winter. The United States is not only not saving nuts, it's eating the ones left over from last winter." Unfunded entitlement programs will eventually gobble up our entire gross domestic product (GDP).

Our official unemployment rate stands at 8.3%. (Oh really? Experts claim 15% is more like it). We've got declining technical, educational and health standards, a deteriorating infrastructure, and states with enormous deficits of their own.

So what solutions do our leaders propose? Increased spending (stimulus) and expanding the money supply (aka printing moola). What?? Do the words been there, done that ring a bell? Don't they remember we tried that already? Don't they remember it didn't work? Those so-called "solutions" only dug us in deeper. Are we doomed to be torpedoed a la Greece?

That brings us to a puzzling question: Where is America in Bible prophecy?
Simple answer? No where, folks. And it doesn't take a rocket scientist to figure out why. Either:
  • We've succumbed to the debt bomb and imploded
  • We've been decimated by our (fr)enemies.
Although there is one more option that has our vote, it is becoming less likely as the American church weakens, leaving only a remnant of true believers; the Rapture takes out so many, the U.S. is no longer a superpower nation.

While hoping for the best, let's prepare for the worst and get our own house in order. We suggest you:
  1. get out of debt
  2. accumulate an emergency fund
  3. squirrel away nuts for the winter
  4. and last, but not least: know what you believe
Jesus said: "If you love Me, keep My commandments. And I will pray the Father, and He will give you another Helper, that He may abide with you forever--the Spirit of truth, whom the world cannot receive, because it neither sees Him nor knows Him; but you know Him, for He dwells with you and will be in you. I will not leave you orphans; I will come back to you...Peace I leave with you, My peace I give to you; not as the world gives do I give to you. Let not your heart be troubled neither let it be afraid." (John 14: 15-18,27)

  • Deadly tornadoes pound U.S. Midwest
  • Israel will not inform U.S. of Iran strike beforehand
  • Gitmo detainees getting $750,000 soccer field while U.S. troops get slashed health care
  • Former Fed Reserve Governor: "U.S. in for "Rude Awakening" if debt isn't reigned in soon
  • Unmanned drones spark controversy in Middle East

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