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.
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.
Jesus our Lord mentioned the following signs which will precede His coming in Matt 24:
False Christs.
Wars and rumors of wars.
Famines.
Earthquakes.
Persecution leading to many falling away.
Many false prophets leading many astray.
Lawlessness will increase.
The love of many will grow cold.
Yet these are merely the signs of the beginning of the birth pains.
Throughout the history of the last 2000 years or more since Jesus ascended to heaven, such signs have been observed anyway. So how can we be certain we are staring at the beginning of the birth pains ?
Can exponentially increased instances of these signs be considered conclusive proof ?
Firstly, it is interesting to ponder why Jesus our Lord called the beginning of the end times as birth pains. At the onset of labor in child birth, pain caused by uterine contractions will intensify in magnitude till the baby is born. The intensification of labor pain is a good illustration of the sudden escalation or exponential occurrence of calamitous events.
Secondly, the sudden-ness of the escalation of an event in an exponential fashion seems to mirror the sudden-ness of His coming that our Lord Jesus had talked about that many will still be caught unawares. Mark 13:35-37; Luke 21:34-35; 1 Thess 5:3; Prov 29:1.
The exponential function is lingering at the bottom for the most part of the time and then suddenly it shoots up to the top. That sudden turn will usually catch many unawares because for the most part, the event has remained dormant.
Habakkuk 2:3
For the vision is yet for the appointed time;
It hastens toward the goal and it will not fail.
Though it tarries, wait for it;
For it will certainly come, it will not delay.
Dr Albert Bartlett was the president of the American Association of Physics Teachers in 1978. In his seminal presentation, “Arithmetic, Population and Energy”, he mentioned this famous phrase “The greatest shortcoming of the human race is the inability to understand the exponential function”.
In his lecture, he was trying to explain that within a finite system, modest annual growth at a certain percentage cannot continue indefinitely. In the example of oil usage, the human race may be caught unawares when modest annual growth of the use of critical resources like oil due to population growth can result in sudden escalation of depletion in a relatively short period of time. The logic is simple and irrefutable. And when this critical stage of depletion of oil happens, for example, we will face an apocalypse.
Today, we face this scenario of exponential depletion of all critical resources.
And also the exponential increase of fiat monetary supply without corresponding industrial productivity expansion will result in a collapse. We have seen the increase way past the inflexion point of the exponential curve.
Get ready for the fulfilment of the judgment of wealth mentioned in Rev 18 when the kings of the earth (governments), merchants (global MNCs and all SMEs) and those who make their living by the sea (major seaports cum financial centres) will weep when God judges.
– extracted from my book, The Coming Economic Flood.
If the incredible cement usage in China over 3 years is true, it is impossible to replicate the same usage over the next few years to generate the same growth rate. Compounding the problem is the fact that there is a lot of wasteful construction of ghost towns and cities which will haunt the whole economy very soon. What is more worrisome is the fact that the construction industry probably hire 200 to 300 million migrant workers and it will be impossible to seek job re-structuring for this big pool of employment should the construction industry go into deep depression.
Update: Perhaps this will be a good reason to accelerate the construction of One Belt One Road project to absorb the over-capacity and capital. But it will pose a grave threat to the current shipping route via the Straits of Malacca.
Is the 3 months’ calm before the storm, since the trigger in September 2015, over ?
Globally the bond bubble has grown by more than $20 trillion since 2008 of which the quality is largely junk. That is about 9 to 10 times larger than the US subprime housing hole of USD 2.5 trillion.
Will the distressed 4 largest economic bloc continue to print money to resuscitate the system in excess of USD 20 trillion and create an even bigger monster bubble in a few years’ time ?
Or has the end-game begun ?
The following article explains well the cause of the coming economic flood.
Yes, something did happen in the global financial system in September 2015.
USD 11 trillion was wiped out in markets globally in late Aug and Sep 2015. Global trade has gone down by 8.4% which is unprecedented and global GDP has shrunk by 3.4% so far this year according to HSBC.
The figures are saying the global recession is under way. We read of imploding hedge funds, bond default of commodity and energy companies, imploding large retailers, the economic hardship of emerging economies due to appreciating US dollar, missing profit projection of global companies and their subsequent retrenchment between 10 to 20% of their workforce, the new recession under way in Japan and the tremendous economic hardship faced by several European countries right now with no relief in sight.
Yet it seems that there is a calm before the storm.
Is God being patient again waiting for His people to come out of Babylon ?
In my book, The Coming Economic Flood, I stated one of two possible causes of the collapse is the sovereign debt default.
Is the IMF confirming it now ? Will it begin by end of September 2015 ?
The economies of the major blocs are so terminally sick and beyond remedy.
It does not really matter to know when it will happen but to know it will happen very soon within months and not years. And to be prepared spiritually and physically for its economic devastation.
It is so exciting to know that David Pawson, a very prominent British Bible teacher, taught the same message as mine about the coming global economic collapse as prophesized in Revelation 18. (From 46 minutes 17 seconds of the video onwards).
He added that God exhorted us to come out of Babylon. God did not say He would take us out of her. God’s people will rejoice at the collapse of this system. Rev 18: 20 (Set me thinking what if Christians are not too keen to even hear such a message ?) He further added that God revealed the future to us is to allow us to prepare for it now and the right preparation is to prepare as taught by our Lord Jesus in Luke 16.
I have been sharing about the coming global economic collapse since 2011 in Indonesia, Philippines, China and also here in Singapore in pastoral conferences and church worship services. Before I received the third vision in Jan 2013 to complete the message God had given me since 2001, I went about sharing about the inevitable collapse of Europe and America due to the point of no return of their dire financial situation. In my book, The Coming Economic Flood, I advocated mainly spiritual preparation and getting out of debt and godly stewardship as part of the physical preparation. It is so heartwarming to hear the same message “Weathering the Coming Storm” from Chuck Missler, founder of the Koinonia House ministry. Part 4/6 gives the personal physical preparation.
Monetary Policymakers have run out of room to fight the next crisis with interest rates unable to go lower, the BIS warns…And the continued mis-allocation of resources during busts prompted by central banks’ rock-bottom interest rates has also hammered productivity growth, the BIS said, as a prolonged reliance on debt had been used in its place. This problem is compounded as the world’s populations continue to age, the organisation warned, making debt burdens harder to bear. Yet politicians have relied too much on temporary growth boosts by using debt, rather than making painful choices, said the BIS.
This is one look at some possible triggers of the Coming Economic Flood by Mr Jim Rickards, the Financial Threat and Asymmetric Warfare Advisor for both the Pentagon and CIA, author of “Currency Wars” and “The Death of Money” :
