Leaving aside the sure fulfillment of biblical prophecy concerning the judgment on Babylon, the political and financial system we know today as mentioned in Rev 18, let’s be sober to look at the hard economic facts today. There is simply an exponential explosion of sovereign debt without the accompanying industrial expansion.
These reasons given in the Zerohedge article have always been my argument (http://www.zerohedge.com/…/2016-07…/brexit-crisis-capitalism):
1. Replacing stagnant real growth and income (and thus taxes) with debt.
2. Replacing investment in real-world productivity with speculation (i.e. financialization)
3. Replacing “everyone must have skin in the game” free-market capitalism with protected, privileged Elites crony capitalism in which the few benefit at the expense of the many.
4. Replacing local, decentralized democracy and ownership with central planning.
5. Using “extend and pretend” financial trickery to mask insolvency, impaired assets/ collateral and non-performing loans rather than address the debt overhang directly via write-downs and liquidations of impaired assets.
Fasten your seat belt. The ride has not ended with Brexit. More of the same are coming – Grexit, Departugal. Italeave. Fruxxx. Czechout. Oustria. Finish. Slovlong. Latervia. Byegium.
As this irresponsible fiscal madness has crossed over the threshold of keeping the budget deficits of all major blocs under control, the system will implode at some point in time.
