What’s in store for the USA
Armageddon
by Martin D. Weiss, Ph.D. 02-22-10 | Full version on Money & Markets website here>
If you thought Wall Street’s debt crisis was traumatic, wait till you the see the consequences of Washington’s debt crisis!
Never before in history has a world power like the U.S. been so utterly buried in debt! And never before has that debt been financed so massively by foreign investors!
Nineteenth century Mexico, Spain, and Argentina accumulated so much debt, they were forced to default.
In the 20th century, a similar fate befell Germany (1932) … China (1939) … Turkey (1978) … Mexico again in 1982 … Brazil and the Philippines (1983) … South Africa in 1985 … plus Russia and Pakistan in 1998.
Argentina kicked off the 21st century with a default in 2001. And barring a euro zone rescue, Greece, Spain, and Portugal are prime candidates for debt defaults this year.
But in NONE of these examples did we — or do we — see the debt crisis striking a dominant world power! In ALL cases, the debts represent little more than a small fraction of the total debts outstanding worldwide.
Not so in our case today!
In the entire world, the United States government and its agencies have, by far, the largest pile-up of interest-bearing debts ($15.6 trillion), the largest accumulation of unsecured obligations (over $60 trillion), the largest yearly deficit ($1.6 trillion), and the greatest indebtedness to the rest of the world ($4.8 trillion).
In proportion to the size of its economy, one important country, Japan, does have more debt than the U.S. But unlike Washington’s debts, nearly all of Japan’s are financed by its own citizens — loyal, long-term savers who are far less likely to pull out in a storm.
Washington’s debt crisis represents a unique, unparalleled, and unimaginable convergence of circumstances. Because no one can answer this simple question being asked by former GAO chief David Walker:
Who will bail out America?
Not you, not me, and not 300 million Americans! Not China, not Japan, nor all the powers on Earth put together! They’re simply not big enough. They don’t have the money.
My Comment: The above article is yet another in a series of warnings that the USA is in deep trouble. Deeper than most folk realise — or want to think about.
Bible prophesy is being fulfilled before our eyes. Most don’t realise the implications of the results of the above scenario for the whole world. Truly a ‘new world order’ is certainly about to become a reality — a frightening reality — for everyone.
Like it or not things are going to get very ‘difficult’ — but for the Bible-believing Christian (and there SHOULD BE no other kind!) these will be exciting if challenging days.
Jesus Christ IS coming soon — but if you want to know what happens in the short intervening years read the book of Revelation. Soon everything in this prophetic book of the Bible will become daily reality and we will be reading about it in our newspapers and world-wide media.
God’s recommendation: Get ready! Get ready! Get ready! It is coming sooner than you think.
And oh yes, the writer of the article chose the heading. Even though he has a good idea of what will happen soon, he has no idea what the real Armageddon will be like. Much worse!