Commentary on world events that relate to Bible prophecy and on Rapture Ready issues world events.

Jul 26, 2010

A Forecast of Economic Doom

The folks at the Office of Management and Budget have released an update of the budget deficit. The latest estimate shows the budget deficit reaching a record $1.47 trillion this year. The government is now borrowing 41 cents of every dollar it spends.

The forecast for the U.S. is incredibly dire. The gap for 2011 is only seen narrowing to $1.42 trillion. Projections show the U.S. national debt doubling between now and 2020, when it's forecast to hit over $26 trillion. These latest figures show the debt will top 100 percent of the nation's Gross Domestic Product in 2012.

The outlook for jobs is equally grim. The estimate for unemployment has the economy experiencing a relatively jobless recovery. The unemployment rate, presently averaging 9.5 percent, would average 9 percent next year under the new estimates. By 2012, the unemployment rate will still be above 8.1 percent.

What is truly scary about these numbers is that they come from the federal government. The Office of Management and Budget has always painted the most rosy vision for future budgets. This current forecast is criticized for being overly optimistic for economic growth. The projects call for 3.2 percent this year, 3.6 percent in 2011, and 4.2 percent in 2012. The vast majority of the Wall Street economists see us as being lucky to stay at about zero growth.

The real problem with our national debt rests with entitlement programs. There are simply too many people living off government handouts.

Historian Alexander Tyler said, "A democracy can only exist until the voters discover that they can vote themselves money from the public treasury. From that moment on, the majority always votes for the candidates promising the most money from the public treasury."

Author Alexis de Tocqueville added to this idea, saying, "The American Republic will endure, until politicians realize they can bribe the people with their own money."

Our path towards socialism began when President Franklin Roosevelt signed the Social Security Act into law on August 14, 1935. We can never insure one hundred percent of the population against 100 percent of the hazards and vicissitudes of life, but we have tried to frame a law which will give some measure of protection to the average citizen and to his family against the loss of a job and against poverty-ridden old age, said Roosevelt.

Decades later, we have reached the point where Tyler and Tocqueville have been proven correct. The name of the game is to get as much as you can from the government.

Right now, the state of Illinois is suffering from one of the worst recessions since the depression. Illinois is currently $13 billion in debt and faces a massive budget crisis. Despite the hard times, Illinois construction workers are demanding a wage increase of 15.9 percent over the next three years. They currently make $50 to $68 an hour.

Last week in Bell, California, the salaries of three municipal officials sparked a firestorm of outrage. Robert Rizzo, the city manager, was being paid $784,637. The assistant city manager earns $375,000, and the police chief was getting $475,000. Rizzo has stepped down, but that doesn't end his burden on the city. The fifty-six-year-old will draw an immense pension, between $650,000 and $880,000 per year.

I find it amazing that the focus on our financial debt problem seems to be waning. People seem to have adopted a "what-I-don't-see-can't-hurt-me" mindset. I've stayed on this story because I know we can't go on like this for very much longer.

We are eventually going to hit the wall. When the financial system breaks down, people may be shocked at how fast our economy implodes. Iceland and Greece were relatively stable nations, but within a matter of days, both nations found themselves facing national bankruptcy. Lucky for them, they are small nations that were able to get a handout from the global community.

America is too big for any bailout. At best, the world could put together a trillion-dollar rescue package. We would burn that amount of money in a matter of months. If we should collapse, the rest of world will either seek shelter or try to profit from our downfall.

I am as certain as I can be that a huge financial collapse is headed our way. The timing seems to imply that it has a strong link to prophecy. If that is the case, the only rescue package Im looking forward to is the one from the Lord Jesus Christ.

"Watch ye therefore, and pray always, that ye may be accounted worthy to escape all these things that shall come to pass, and to stand before the Son of man" (Luke 21:36).

-- Todd

Harlot System in View

We can see on the prophetic horizon a monstrous beast lumbering in this direction with a woman astride it. Dave Hunt, you might recall, wrote the provocative--even controversial--book on the subject by the title The Woman Rides a Beast. The woman, most literalists (including Hunt) believe, represents the apostate religious system that will be Antichrist's mistress, as a counterfeit of the church, the bride of Jesus Christ.

The matters involved present a terrifying specter--a foreshadowing of bloody things to come, given John to record on the Isle of Patmos almost two thousand years ago.

So he carried me away in the spirit into the wilderness: and I saw a woman sit upon a scarlet coloured beast, full of names of blasphemy, having seven heads and ten horns. And the woman was arrayed in purple and scarlet colour, and decked with gold and precious stones and pearls, having a golden cup in her hand full of abominations and filthiness of her fornication: And upon her forehead was a name written, MYSTERY, BABYLON THE GREAT, THE MOTHER OF HARLOTS AND ABOMINATIONS OF THE EARTH. And I saw the woman drunken with the blood of the saints, and with the blood of the martyrs of Jesus: and when I saw her, I wondered with great admiration. (Rev. 17:3-6)

Historicists--those who believe that most prophecy, including this one, has been fulfilled historically--say this all took place during the Roman-based persecutions throughout early church history. The prophecy, they say, has nothing to do with things to come, except in the most general sense. Certainly, the prophecy has nothing specific to do with an end-times persecution leading to the most terrible time in human history. Such a view presents a torturous task for historicist adherents who try to explain the Revelation 17 prophecy of the wicked woman on the hideous beast .

And the ten horns which thou sawest are ten kings, which have received no kingdom as yet; but receive power as kings one hour with the beast. These have one mind, and shall give their power and strength unto the beast. These shall make war with the Lamb, and the Lamb shall overcome them: for he is Lord of lords, and King of kings: and they that are with him are called, and chosen, and faithful. (Rev. 17:12-14)

This powerful ten-nation entity and the beast have no historical basis as accomplished fact. Any dealing with this part of the prophecy from the perspective of any but the futurist view--that there is much Bible prophecy yet to be literally fulfilled--requires spiritualizing, allegorizing, or else applying pure sophistry to everything to do with these Scriptures.

Contemporary headlines, as they do for so many prophecies yet future, make the case for the Revelation 17 prophecy coming into view in our time. It is literally shaping up for fulfillment before the eyes of those with prophetic discernment. We have used these commentaries many times to dissect and examine news stories that show the governments of the world reconfiguring into what George H. W. Bush, Henry Kissinger, Zbigniew Brzezinski, Barack Obama, and many others have termed "New World Order." The dire global economic crises that have moved toward critical mass just within the past couple of years have shown the inextricable national fiscal interlinkages. It has become obvious that the world is being forced into a monetary mold that could easily morph into something like the ten-kingdom power bloc God's Word says will give its power and authority to the beast.

So, it is reasonable to expect the harlot who rides the beast--the agglomerate ten kings and kingdoms that comprise the beast of Revelation chapter 17--to be somewhere in the prophetic picture, if indeed we are witnessing that ten-kingdom monster in the making.

EUOBSERVER / BRUSSELS - Brussels is to hold an EU summit with atheists and freemasons in the autumn, inviting them to a political dialogue parallel to the annual summit the bloc holds with Europe's religious leaders. While the EU is a secular body, the three European presidents, of the commission, parliament and EU Council, alongside two commissioners, on Monday met with twenty-four bishops, chief rabbis, and muftis as well as leaders from the Hindu and Sikh communities. The annual dialogue, which has taken place since 2005, is for the first time this year made legally obligatory under Article 17 of the Lisbon Treaty. (http://euobserver.com/9/30506/?rk=1 /, 7/20/10, Thanks to Denise Styka)

The report went on to inform that the atheist summit, a mirror of the annual EU religious summit, has within its ranks humanists who are "perplexed and annoyed" that the Freemasons were to be included as part of the strange eclectic mixture, due to pressure by Belgium. The Freemasons, a secretive fraternal organization, is given entrance under the rubric of being part of "non-religious groups." Humanists apparently find this a compromise of their non-religious summit, because Freemasonry holds to religious-like oaths and ceremonies that give allegiance to authority above that of man.

This brings home to my thinking how many of the mega-churches within Christianity are, similarly to the EU "summits," contributing to setting up platforms that will produce the woman who will one day ride upon the back of the beast government of Revelation 17. Like in the EU get-together, there is compromise at the heart of these mega-efforts at man-made salvation.

The methodologies employed by such churches include the idea to bring together the saved and unsaved in a sort of "summit." The idea is one of thesis (Christian faith) and antithesis (the lost or unsaved), with the objective of producing synthesis. The "summits" in these cases aim to bring about dialogue between the two opposite world views to produce answers (synthesis) that both sides can live with.

The process is satanic at its core, denying that God's way to redemption and reconciliation is necessary. Apostasy is the result--the Laodicean model for the end of the age.

Be sure that you are not a part of helping that woman of wickedness climb upon the back of the beast that will one day be scarlet with the blood of the Tribulation saints.

-- Terry