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biblenewsprophecy · 5 months ago

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USA decline and more inflation

COGwriter

ZeroHedge and NewsMax reported the following:

Consumer Prices Hold At Record Highs – Up 20% Since Biden Elected

June 12, 2024

Core CPI has not had a down-month since President Biden was elected. …

We note that consumer prices have not fallen in a single month since President Biden’s term began (July 2022 and May 2024 was the closest with ‘unchanged’), which leaves overall prices up over 19.5% since Bidenomics was unleashed (compares with +8% during Trump’s term).

And prices have never been more expensive…

That is an average of 5.4% per annum (almost triple the 1.9% average per annum rise in price during President Trump’s term). …

Since President Biden was elected, food prices at home are up around 21% and food prices away from home are up almost 23%… https://www.zerohedge.com/markets/consumer-prices-hold-record-highs-20-biden-elected

June 12, 2024

U.S. consumer prices were unexpectedly unchanged in May amid cheaper gasoline, but inflation likely remains too high for the Federal Reserve to start cutting interest rates before September against the backdrop of a persistently strong labor market. …

Though the annual increase in consumer prices has slowed from a peak of 9.1% in June 2022, inflation continues to run above the U.S. central bank’s 2% target. https://www.newsmax.com/finance/streettalk/inflation-3-4-percent/2024/06/12/id/1168435/

James Hickman of Schiff Sovereign sent out an email with the following:

June 11, 2024

There is a well-known modern proverb (often attributed to the novelist G. Michael Hopf) that goes, “Weak men create hard times, hard times create strong men, strong men create good times, good times create weak men.”

The saying sums up the cyclical nature of the rise and fall of societies– and it’s a topic in which I have tremendous personal interest.

Having recently reached middle age, I can comfortably say with the benefit of hindsight that I was born and grew up during the American prime time– the time at which the wealthiest and most powerful country in the history of the world was at its peak.

The US is still an incredible country with so much prosperity and opportunity. But it would be completely naive and ignorant to claim that America is not in substantial decline.

Its standing in the world has waned, much of it just over the past few years. …

And social divisions, many of which have been bizarrely self-inflicted, seem to grow more tense by the day.

Fortunately, America’s decline began from a historically high peak. …

Joseph Tainter. … his analysis shows that one of the key culprits in collapse is the inability of a government to recognize problems… or to solve them. …

The government’s own projections forecast an extra $20 trillion in new debt over the coming decade, and frankly that’s optimistic.

History shows that explosions in national debt are financed by the Federal Reserve creating new money– which ultimately causes inflation.

When the Fed created $5 trillion of new money during the pandemic, we got 9% inflation. How much inflation will $20+ trillion cause?

And the worse inflation becomes, the more urgency the rest of the world will have to replace the dollar as the global reserve currency… which will result in even MORE inflation in the US.

It’s a vicious cycle in which inflation will create more inflation. We project this is 5-7 years away.

Increasing debt continues to happen. I suspect the collapse will be less than the 5-7 years that James Hickman and his company are pointing to.

The USA continues to increase its debts and not pay enough attention to getting its fiscal house in order.

Sadly, that is not a surprise as increased debt as well as risk of inflation were included as part of my 24 items to prophetically watch in 2024:

11. Debt

The Bible teaches that the result of debt accumulation will be far worse than even many pessimists believe. Here is an end-time prophecy given to the prophet Habakkuk by God over 2600 years ago:

2 And the Lord answered me:

“Write the vision; make it plain on tablets, so he may run who reads it. 3 For still the vision awaits its appointed time; it hastens to the end—it will not lie. If it seems slow, wait for it; it will surely come; it will not delay.

4 “Behold, his soul is puffed up; it is not upright within him, but the righteous shall live by his faith.

5 “Moreover, wine is a traitor, an arrogant man who is never at rest. His greed is as wide as Sheol; like death he has never enough. He gathers for himself all nations and collects as his own all peoples.”

6 Shall not all these take up their taunt against him, with scoffing and riddles for him, and say,

“Woe to him who heaps up what is not his own— for how long?— and loads himself with pledges!” 7 Will not your debtors suddenly arise, and those awake who will make you tremble? Then you will be spoil for them. 8 Because you have plundered many nations, all the remnant of the peoples shall plunder you, for the blood of man and violence to the earth, to cities and all who dwell in them. (Habakkuk 2:2-8; English Standard Version)

The USA is the most indebted nation in the history of humanity and those in it should try to understand this prophecy. Perhaps it should be noted that the United Kingdom and Canada have about a similar massive per capita debt to that of the USA.

Notice the following levels of official US debt:

January 20, 2009, $10,626,877,048,913.08, date Obama-Biden Administration inaugurated.January 19, 2017, $19,944,429,217,106.77, date Obama-Biden leave office, replaced the next day when Trump-Pence inaugurated.January 19, 2021, $27,752,835,868,445.35, date Trump-Pence leave off, replaced the next day when Biden-Harris inaugerated. https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-pennyDecember 16, 2021 $29,206,281,597,429.63 https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-pennyDecember 8, 2022 $31,310,795,117,652.48 https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-pennyDecember 27, 2023 $33,896,083,378,248.05 https://fiscaldata.treasury.gov/datasets/debt-to-the-penny/debt-to-the-penny

Official US debt nearly doubled under the Obama-Biden Administration. It also greatly increased in four years under the Trump-Pence Administration. It has also increased in that nearly three years of the Biden-Harris Administration–and further increases are expected. There is also Federal Reserve balance sheet debt that is not counted these figures.

Expect official US debt to increase in 2024.

The USA is walking a dangerous line on its debt that will not end well.

The Anglo-American world order will come to an end. Accumulation of debt, and then having to pay historically ‘normal’ interest rates will strain the national economies of the USA and UK more than almost anyone will believe.

Those who think the current world order with the USA’s dollar on top will last through the end of this century are in error.

Those who will believe the Bible will take the words that God spoke to the prophet Habakkuk seriously

The Bible warns that debt, and having to borrow from foreigners, is a curse that would hit those who received various biblical blessings as they became more disobedient (Deuteronomy 28:15,43-46).

Debt will increase in 2024.

Have you been paying attention to this?

12. US Dollar Dominance will Decrease

Consider the following curse from the Book of Leviticus:

19 I will break the pride of your power; (Leviticus 26:19)

While the above undoubtedly has military & economic possibilities, consider that the US dollar is the pride of the USA’s power.

It is backed by nothing.

So, it is a prideful thing–plus it does project US power around the world.

Debt, trade, weather, morality, leadership, sanctions, and other issues have given various nations motivations to work to dethrone the US dollar as the world’s primary trade and reserve currency.

The economy of the USA has been financed, to a significant degree, by foreigners willing to provide goods to the USA on credit as well as the USA profiting from much of the rest of the world’s international trade that is dollar-based.

When the US dollar ceases to be the world’s primary reserve currency, this will foster massive inflation.

Yes. expect to see more debt in 2024. And actually, as of last Friday, the official USA debt rose to $34,672,892,047,832.53, which is close to a trillion dollars more than at the end of 2023. For what it’s worth, I am old enough to remember when the total deficit was LESS THAN THE INCREASE since January 1st of this year.

Related to USA debt, we put out the following video:

youtube

14:44

And the Debt Goes On …

On June 3, 2023, US President Joe Biden signed a bill to increase the official debt-ceiling of the United States. According to the US Treasury the “ceiling” has been changed, increased, or delayed 78 other times. The official debt has nearly tripled since the Obama-Biden Administration. The official debt increased about $2 trillion per year under Donald Trump’s Administration and has done close to that in the Joe Biden Administration. While the USA has been able to increase debt with limited consequences (like inflation) so far, does the Bible show this can end in destruction? What did God warn about debt through the prophet Habakkuk? Is getting into high amounts of debt a blessing or curse according to the Bible? Do Democrats or Republicans currently have a plan that will now be implemented to pay off the debt? Has the USA been functioning as an international “leech” consistent with statements in the Book of Proverbs? Does the Bible say it is wicked to borrow money you do really intend to repay? Steve Dupuie and Dr. Thiel cover these matters.

Here is a link to our video: And the Debt Goes On …

Related to inflation, we put out the following video:

youtube

15:26

Inflation: When Money Fails

Inflation has been higher in 2022 than it has been for decades in the USA, Europe, and many other lands. What are some of the disruptions that inflation can cause? What about hyperinflation affecting places like Venezuela? Did the Book of Haggai predict inflation? Is food price inflation associated with the ride of the third horseman of the Apocalypse? Does sin and government mismanagement cause inflation? Are there physical things one can do about inflation? What about storing food or buying gold? Will gold outlast the USA dollar? Why might some throw their gold in the street as Ezekiel prophesied? What should God’s people do about inflation? What did Jesus teach about food worries? What about seeking the Kingdom of God? Steve Dupuie and Dr. Thiel cover these matters.

Here is a link to our video: Inflation: When Money Fails.

Since many leading, so-called ‘economists’ are political hacks and/or have a political agenda, do not expect too many prominent ones to have sufficient influence to resolve the problems in the USA.

The truth is that the USA is setting itself up for massive inflation and destruction.

Hyperinflation will hit the USA and its results will be worse than almost anyone realizes.