Jan 18, 2011

2011 Could Usher in Huge Financial Changes

Bill PerkinsBy Bill Perkins

As events continue to unfold on God's perfectly timed prophetic calendar, Believers will have more and more opportunities to point to the Bible as the only answer to the world's problems.

As non-Believers look more and more to the government for help, instead of God, their problems will only worsen. We must be ready to give Biblical answers as God provides us opportunities.

"... always being ready to make a defense to everyone who asks you to give an account for the hope that is in you, yet with gentleness and reverence" - 1 Pet 3:15

The Cold Hard Facts

Our new Federal budget for one year is expected to be roughly 3.5 trillion dollars, and 1.3 of the 3.5 is interest due!

And to top that off, we only have 2 trillion in tax revenue to fund the 3.5 trillion dollar budget!

To pay for this budget shortfall, we will print more money to make up the 1.5 trillion dollar difference. The United States owes a total 132 trillion dollars if you include unfunded Social Security, Medicare, government pensions, etc., so apparently there is no problem with tacking on another 1.5 trillion in debt. Do you see a problem here? Any thinking person does.

Because of this insane approach to accept and add more debt, there is a reasonably good chance that we will soon see huge changes in our money. And when the monetary base is adversely affected, it gets people's attention - big time. And as our esteemed President has warned us, "Change is coming." And this "change" will affect Christians just as much as non-Christians.

Our dollar is devaluing right in front of our eyes. We're currently at the "Frog in the heated water" point. When it finally dawns on the masses what is really going on, there will be a rush to the exits, and then our government will step in and take action to "save our way of life." We can only theorize what they will do to "make things better," but we're guessing most of us won't like it.

It could happen quickly. At some point in the future you could literally wake up one morning with a new money, a severely devalued dollar, or a New World currency. Or, the dollar might simply continue its steady decline year after year. Any way you slice it, the dollar is dying.

The Bible tells us how the world's money culminates:
"And he causes all, the small and the great, and the rich and the poor, and the free men and the slaves, to be given a mark on their right hand, or on their forehead, and he provides that no one should be able to buy or to sell, except the one who has the mark, either the name of the beast or the number of his name. - Rev. 13:15-17
So from the above tribulation time period verse, we know we will end up with a one world leader who controls every single monetary transaction in the market. Money will be obsolete. And it seems America is the last obstacle to this fast approaching system. Therefore, if we're living in the last of the last days, it's not surprising that Satan has America in his cross hairs.

Consider what the "god of this world" has been able to do to the largest nation of true Believers in the world in the last few years:
  • In 2000 we had 16 million people in the United States receiving government food stamps. In 2010 we had 43 million dependent on food stamps. 53 million are eligible!
  • Today there are an estimated 6 to 8 million people living in homes without making mortgage payments.
  • Since 2000 the United States has lost over 10% of it's middle class jobs - a loss of 7 million jobs.
  • In 1970, 25% of all jobs were manufacturing jobs. 32% of manufacturing jobs have been lost since 2000 alone (mostly due of NAFTA). Today only 9% of all jobs are manufacturing jobs.
  • Since 2001, over 42,000 U.S. factories have closed for good. In the last year, American companies have created 1.4 million jobs overseas but less than one million here at home.
  • 40% of Americans work in low paying service jobs.
  • Since 2007, an incredible 55% of the U.S. labor force has suffered a spell of unemployment, cut in pay, reduction in hours or have become involuntary part-time workers.
  • Currently there are over 6 million Americans who have been unemployed for over 18 months or longer... most are hanging on because of the government's continual extension of unemployment benefits.
  • In 2000 the United States was ranked number one in wealth per adult. In 2010 the United States has fallen to seventh. China will overtake the U.S. as the world's largest economy in the next five to seven years.
  • Real estate has yet to bottom out. In Nevada, 67% of all mortgages are financially underwater. Roughly 50% of the houses in Arizona and Florida are underwater. When these houses are eventually put up for sale, simple supply and demand will again cause real estate housing prices to dive another 5% to 20%.
  • It's not only the Fed who is in trouble, our state and local governments owe as much as $2 trillion more than they can pay. They owe even more to unfunded pension funds and health benefits - a whopping $4 trillion.
  • · Recently on 60 Minutes, Oppenheimer analyst Meredith Whitney predicted that 50 to 100 American cities will go broke in 2011. Included in the list are New York City, San Diego, Cincinnati, Honolulu, San Francisco, Los Angles, Washington D.C., and Detroit.
  • For the past couple of years, states have been scraping by on billions of dollars in federal stimulus funds. But now, that money has been spent and their debt problem has not been solved.
And, unlike the Federal Government, cities and states cannot print money to bail themselves out. They have to balance their budgets each year. But ridiculously high budgets forged to please voters and create insane retirement plans, pushed through by unions, leave cities and states no choice but to raise taxes or cut spending, or both. The potential of cutting a widow's retirement monthly check has become real and necessary. Recently Fed Chairman Bernanke formally declared that the Federal Reserve cannot and will not bail out the state and local governments.
  • California now faces a deficit of $28.5 billion over the next 18 months and annual deficits of AT LEAST $20 billion for the next five years. It's credit rating is approaching junk status.
  • Some states have already begun cutting services. Newark just fired 1300 state workers and laid off firefighters and emergency personnel. Many states are refusing to pay their pension funds. In Illinois, if the state owes you money, get in line... a long line. Checks take an average of 6 months to reach you. This has resulted in state officials being evicted from their offices for nonpayment of rent!
2011 may be the year of the greatest opportunities for witnessing since Paul left on his first missionary journey! As Satan readies for a post-rapture world, Believers will have answers to share - that this world is not the end, heaven is ahead for all those who trust Jesus' shed blood in place of their own sin.

Related Links
30 Reasons Why 2011 Is Going To Be Another Ugly Year For America's Middle Class - Business Insider
US Drops From First To Seventh In Average Wealth Per Adult, Behind Singapore, Sweden, And... France - Zero Hedge
Interest Expense on the Debt Outstanding - TreasuryDirect.gov
World too dependent on dollar, United Nations says - Examiner.com