Economic prosperity now seems more elusive than ever—with no simple solution in sight.
Subscribe to the Real Truth for FREE news and analysis.Subscribe Now
The global economy is in the worst crisis since the Great Depression of the 1930s! In 2008 alone, a staggering $50 trillion in wealth was erased around the world.
Despite unparalleled affluence in the Western world, personal and corporate bankruptcies are soaring. So is use of credit by consumers. Millions are losing jobs. More millions their homes. The U.S. national debt is measured in trillions of dollars! Headlines of credit fraud, identity theft, graft and corruption fill the news. Thinking people know events are spinning out of control. All of this is unnecessary—if you have God’s keys to financial prosperity.
The sobering statistics that follow are but a snapshot in time and grow worse by the day. As you read, factor in an increased amount to each statistic and trend.
The world’s largest economy, the United States, the place to begin review, is now more than $14.1 trillion in debt—and this debt is growing by over 4 billion dollars daily! This amounts to an over $45,500 bill for every U.S. citizen—or over $127,800 per taxpayer. Some expect the debt to be above $15.4 trillion this fiscal year—which means a growth of additional billions each day next year! (In reality, these numbers will almost certainly be higher.)
Such debt can never be repaid! In fact, most nations of the West are also now being crushed by impossible debt. Catastrophe now looms—and, in the case of America, here is why. The United States received about $2.16 trillion in federal tax revenue in during the 2010 fiscal year, but spending was over $3.45 trillion for 2010.
Now suppose that these numbers represented the income and spending pattern of an American family of median income. Such a family would take in just over $50,000 (2009 estimate), but be planning to spend over $86,000—while already carrying more than $325,000 in debt! Individual families would never do this—or if they tried, would go bankrupt before it could happen.
But governments can print money.
The United States national debt is projected to surpass $20 trillion in 2014!—and hit almost $28 trillion in 2019!—double the present. Such deficit spending is unsustainable.
Money is borrowed at existing rates of interest. Understand that just a very small 1 percent rate increase on the debt would raise an interest payment of $200 billion by several hundred billion each year. But this is only true if the deficit did not rise! Many think all these projections to be very conservative. They will likely be much worse.
No thinking person believes such overspending can continue without end. Further, the addition of expensive new government programs and exotic new kinds of taxes will only greatly exacerbate the downturn. America will not stop spending because it is conditioned to believe it can have anything it wants. It need never deny itself. A country this big, this great, and one with such a rich history, cannot fail.
This thinking is tragically wrong. What world empire—with half America’s problems—survived?
The economies of America and other nations of the West will in time collapse into full-blown bankruptcy. This will happen, although things could temporarily get a little better. Various individual states will in fact likely precede the federal government and country into bankruptcy, and thus, hasten the overall collapse. Of course, nature abhors a vacuum, and a European-based world government will step in to fill America’s abdication as global leader. This cannot now be far away.
Most Western nations are staggering under impossible debt. There is a reason. So are millions of people. There is a reason. Terrible, national punishment now lies just ahead for the world’s greatest nations, in part because hundreds of millions of individuals in them have stolen from God—every day. This is just one of a long list of these nations’ sins.
The world as you know it—including your life—will change beyond your wildest imagination. And it will happen sooner than you expect!