No doubt, readers will have heard about the boom in Mag 7. What is this … and what does it mean? In our view, Mag 7 signifies an epoch-changing development of endtime dimensions. However, before we plunge into any further explanations, we must first understand the context. It is all part and parcel of a “last day” rush to digitize and network the entire planet. Why? Satan and his cohorts (some of these very wealthy elites… see Danial 11:39) have an urgent mandate and recognize that their time is short.

In that sense, the current Mag 7 phenomenon is a continuation of a previous technology boom/bust that occurred in the late 1990s, otherwise known as the Dot Com Mania. Technology bubbles of the last three decades or so have been centered upon digital information management. The latest bubble extension (or bezzle, as these often turn out to be) has been boosted by a mania in AI (artificial intelligence).

We have discussed these boom/bust technology developments and their implications for mankind for well over 25 years. Consider that the commercial internet was only invented 31 years ago. The mobile phone (specifically, the smartphone, which we will discuss further) was launched only 17 years ago.

The latest technology bezzle phase that is occurring now is the largest ever. Moreover, it is of unprecedented global scope.

To illustrate, we return to the topic of Mag 7 to explain its significance further. Mag 7 is short for “Magnificent 7.” These are 7 major profitable and “magnificent” companies. They are the poster child for the present global boom in information technology and communications sectors and Electric Vehicles (EVs). Their businesses and share prices have prospered so much that these 7 companies today alone represent over 23% of the entire world stock market value (MSCI World).

Such wealth concentration would seem unimaginable. Nevertheless, matters are even more extreme than meets the eye. The two industry sectors of Communications Services and IT (information technology services) alone account for over 32% of the world MSCI stock index value (approximately one-third!).

These sectors include companies that are active in providing computer services, chips circuits, smartphones, iCloud and data storage, software, search engines, social media networks, communications networks, and lately, in a major way, artificial intelligence. The common thread to all of them is digital technology, data centralization, and networking.

The Magnificent 7 are as follows (in no particular order): 1. Apple; 2. Nvidia; 3. Tesla; 4. Meta Platforms (formerly Facebook); 5. Amazon; 6. Microsoft; 7. Alphabet (formerly Google).

Next, consider the scale of the investment cornucopia. Apple shares have generated a 912% total return in the past decade. Amazon shares are up 927% in the same time frame. Meta Platform shares are up 570% in 10 years. Microsoft has generated a 940% total return for investors over the past decade. Alphabet has generated a 426% return in the past 10 years. Tesla shares are up 1,144% in the past decade. Most of all, Nvidia shares have gained some 22,235% since inception! Whose soul will not have been tested by such wealth? Given the immensity of this lucre, one can be sure that Satan and those that honor him will have made effective use of the power of money.

One can see that it is money … namely, huge profit … that is integral to all these technology shifts. This again has led to a greater global investment mania, luring the savings of the near entirety of the world. We will yet discuss the impact of the familiar “boom bust” cycle that is involved.

We ask, why such an extreme financial wealth concentration … and why with such explosive rapidity? First, technology booms and busts are all fomented by human fear and greed—Mammon. In this sense, the present information-centered boom can be seen as similar to other technology-inspired booms of the distant past, including railroads in the 1840s, automobiles in the early 20th century, radio in the 1920s, television in the 1940s, transistor electronics in the 1950s, computer time-sharing in the 1960s, and home computers in the 1980s.

Arrogant Bezzle Era

With the technology boom and hutzpah, things have become quite “crazy” on Earth. Consider some of the arrogant foolery that we see today. Climatologists are promoting the notion that the earth’s temperature can be controlled as if connected to a wall-mounted Honeywell rheostat (this ignoring the fact that it all hinges on a complicated solar system). Elon Musk (the famous founder of many technologies) continues to plan an interplanetary escape to Mars, as there apparently is no such thing as a Martian NIMBY (Not in My Back Yard) lobbyist. The leading AI movers and shakers claim that existential risk from artificial intelligence may lead to human extinction from the universe (this being this writer’s first tip that AI was contributing to another bezzle). And last, the recent convening of the Berggruen Institute in Venice, which discussed a new planetarity grounded in an awareness that human beings are no longer at the center of it all. As such, the Interplanetarity is putting the Anthropocene in its place. We dare say that God would agree.

As such, we note that there are two major financial bezzles underway: “fighting climate change” and AI/Search. To say the least, dealing with just one is demanding … let alone two. Of course, there may be many smaller ones, as always. It is the big bezzles, however, that can lead to economic recessions and financial crashes. Usually, one bezzle narrative has been enough to do so. Trillions of dollars may have already been duped into being spent.

Why the Smartphone Is Important: The Self and Technology

Timothy tells us: “But mark this: There will be terrible times in the last days. People will be lovers of themselves … of pleasure rather than lovers of God” (2 Timothy 3:1, 4).

According to Paul, the world will be typified by people who are centered upon themselves … pursuing their individual wants. They love themselves uppermost. They, therefore, will have fallen into a trap. Only God can love us fully and perfectly. People who are lured to the notion that they can love themselves better than God face unhappiness. No doubt, this trend is linked to the rapid rise of depression—what the World Health Organization has observed to be an epidemic. Sadly, it is seen as a disease, not at all as a spiritual malady.

At the same time that selfishness and narcissism become rampant, the world becomes more bewildering and anxiety-filled. “Be careful, or your hearts will be weighed down with carousing, drunkenness and the anxieties of life, and that day will close on you suddenly like a trap. For it will come on all those who live on the face of the whole earth” (Luke 21:34-35).

So, any technology that serves to enable the “love of self” … that spreads information leading to the magnification of the “anxieties of life” … and centralizes influence and personal monitoring is therefore likely to play a prophecy-enabling role.

Why Humans Are Vulnerable to Booms and Busts

Financial markets famously rotate through booms to busts. Manias and bubbles capture the human attention … only to later succumb to crashes and crises. These trends tend to always be supported by a major narrative that is infectiously believable.

Why are humans so vulnerable when it comes to economic booms and busts? By definition, human actions embrace behavioral factors (i.e., human neural wiring, wants, preferences and needs … etc.) Above all, the humanoid is vulnerable to changing his mind … and does so frequently.

Homo sapiens are anticipatory, unpredictable, and capricious. In general, they will gladly participate in a dupe of doubtable fundamentals so long as the stock price charts keep ascending to the upper right. As we see today, this usually leads to radical technological changes very suddenly. This makes rich soil for bubbles, manias, and busts.

The size or scope of a bezzle or bubble may not be limited by anything … just unlimited imagination. Quoting John Kenneth Galbraith (a famous Canadian-American economist and diplomat), on another time of financial delusion in the 1930s, “[the] world was inhabited, not by people who had to be convinced, but by people who sought excuses for believing.”

Similarly, today, there is no lack of misguided and willing believers with respect to starry-eyed expectations of artificial intelligence and the “consensus” views of climatologists.

Fizzle Follows Bezzle

What happens after the boom and the bezzle, as history shows us? They all eventually fizzle out, as they must. Markets then crash spectacularly. While the catalyst to the boom may have been real—at least in part—once hordes of greedy and uninformed investors descend upon the mania, the fate is sealed. Wild-eyed expectations of future profits can no longer be supported.

In the final Part 2, we will conclude with the question: Are any more new technologies required before the onset of the Tribulation period?

***

Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the prophetic future.

Do you have questions or other perspectives? You can contact Wilfred at: staff@eternalvalue.com. Please note that for reasons of volume and investment securities regulation, he cannot give financial advice.

 

Over half of the world’s population is slated to hold national elections in 2024. Is this significant? As we see it, this contributes to the growing fluidity of geopolitical change in our times. Prophecy students know that the “10 kings” will emerge rapidly and suddenly. Revelation 17:12 says, “The ten horns you saw are ten kings who have not yet received a kingdom, but who for one hour will receive authority as kings along with the beast.” We would say that this requires fluidity. Democratic nations can contribute to this condition.

Malleable and Fluid Democracy

Democracy … whether weak, strong, or flawed … is practiced by some 60% of the world’s population (less than 10% is fully democratic). Democracy is hailed and defended by most as the best political system on earth. Supposedly, people’s rights are upheld, and checks and balances of the rule of the majority prevail. Is this system virtuous? No. Democracy, assuredly a human system with many good facilities, still harbors the fatal flaw that will enable a spiritually blind world to willingly allow the Antichrist to come to power.

What many may not realize is that democracy itself is only a system. Its benefits and good are entirely reliant upon the hearts of its people and not the system. If most people are godless or larcenous, for example, democracy will be corrupt and godless. It will be shifty … vulnerable to major changes.

Already, year-to-date in 2024, there have been some surprising upsets and shifts among larger nations. Narendra Modi, President of India—with the largest population in the world—surprised the consensus with a very weak showing in India’s election in June. Financial markets shuddered and sold off deeply in the ensuing panic. French President Emmanuel Macron suffered a rebuke at the polls, triggering major changes in its fiscal policies. Elsewhere there have been a number of “hard right” shifts … as well as others swinging to the left.

Crucially, these shifts also contribute to an environment of geopolitical fragmentation. Many countries are becoming more concerned with their own affairs rather than global cooperation. This is fertile ground for the emergence of the 10 kings. While elections in 2025 may not be as numerous as in 2024, it would not be surprising to see fluidity of change continuing to increase. After all, many endtime developments are marked by sudden and rapid change.

Women in Political Roles

What role will women play as heads of state in the future? Indeed, there have been some very well-known and respected female presidents since the interwar period (1918–1939). Consider Indira Gandhi (India), Golda Meir (Israel), Margaret Thatcher (Britain), Eva Peron (Argentina), and others.

At no time, however, could it be said that there were many heads of state that were women. In recent decades, however, this has somewhat changed. According to the UN, as of mid-2024, there were 24 female heads of state in the world. Over the years, less than one-third of United Nations member states have ever had a woman leader.

Very recently, another woman moved onto this list. Claudia Sheinbaum Pardo was elected to become President of Mexico. She is the first female head of state for Mexico.

Could this also happen north of its border, now that Kamala Harris has been confirmed as the presidential nominee of the Democratic party? If so, this could be of great significance from a Biblical perspective. America has never before had a female president.

Where do we find the Biblical link to this question?

The Bible says that 10 kings will converge in the last days, just before or near the appearance of the Antichrist. We must make an obvious statement: These ten kings must all be males. Of the 2,481 mentions of the word “king” (singular) in the Bible, all refer to males.

The clear takeaway here is that any country with a female head of state cannot, therefore, be one of the last-day 10 kings. The equivalent in our time is heads of state. As such, any country with a head of state that is female will not be a member of the 10-king coalition. Why will this restriction of women be the case? We do not know.

Were Kamala Harris to become the next president, the US could not be a candidate for membership in the 10K group on these grounds alone. Is this good or bad? It depends. In one sense, it would be better for a country not to be a member of the 10 kings. They would, therefore, not be required to support the Antichrist.

Globalism on the Ropes

As mentioned, the long-running trend of globalism is beginning to fade in our time. For the time being, the US is still the most powerful nation in the world. It represents a very big toe … so big, in fact, that it can still render any other coalition of 10 kings ineffective. As such, we recognize that a resizing of the relative powers of 10 major nations must yet happen before the prophesied time of the 10 kings will occur.

Will America fit into the shoe, or not at all? Are we now seeing these necessary changes beginning to unfold … the big toe stubbed?

Since Bible prophecy clearly outlines that there will be a 10-nation power coalition, not a foot with one big toe, we can conclude that this big toe must then become comparatively smaller. While the British Empire has been removed from the pinnacle of power for more than half a century, its younger cousin (the US) now undoubtedly also faces a relative decline. By whatever means—the Rapture, self-inflicted, deserved or divinely willed—this has to happen if the Bible is to be proved correct. In fact, viewed against the pace of human history, it must be said that this shift with respect to America is happening quickly (even so without a Rapture).

For the last three centuries, there has only been one big toe in existence at any given time. But this cannot continue if prophecy is to be fulfilled. This change is very likely already underfoot. The rise of other nations such as China, India, Brazil, Russia, and others could be seen as part of this rebalancing process.

Surely, the facts outlined to this point will not be regarded as being very hopeful. But that could be a wrong perception. It is never too late for a nation to repent. God said to Israel, “[…] if my people, who are called by my name, will humble themselves and pray and seek my face and turn from their wicked ways, then I will hear from heaven, and I will forgive their sin and will heal their land” (2 Chronicles 7:14).

Repentance is an option … provided that it is not past the point of return, where God refuses to listen. But we must not make the mistake of Jonah. He was upset with God when the citizens of Nineveh chose to heed his message of judgment. As a result, Nineveh’s demise was delayed for another 150 years or so.

Our Lord, for the most part, allows us the freedom to choose to follow His precepts and ways voluntarily. Yes, God foreknows what our choices will be, but that is not the same as predestinating our willful actions.

Yet, according to Bible prophecy, America must decline relative to the 10 kings in one way or another. But that is not to say that it is prophetically necessary for America to rush to accelerate the fulfillment of prophecy by collapsing into a toothless tiger. Prophecy, in this case, can be fulfilled in a number of ways. Ten other kings could become powerful enough to supersede the geopolitical position of the US, or at the other extreme, America be disastrously downsized … either becoming one of the 10 kings or not at all. Which will it be?

The jury is out. It is up to the nations’ leaders and citizens. However, to date, the signs are not hopeful. In recent times, Christian candidates have been openly ridiculed, and topics such as the “end of days” are fodder for public scoffing. Greater shifts to immorality and rebelliousness may now lie ahead.

Any person who can deliver such policies will be thankfully accepted as a type of savior. Morality and godliness can wait.

Religion and Politics

Personal religion is a topic that rarely surfaces on Wall Street. Very few economists discuss the impact of religion upon GDP … or political economy. This is quite an oversight. Why? Because every human being harbors metaphysical ideas and impulses of some type … at some level or other. Religion matters. A middle-aged Hindu, for example, will have a different demand or hierarchy preference than, say, a Millennial living in Manhattan.

There are quite a number of countries, political parties, and terrorist groups that are, in fact, organizationally or constitutionally religious (consider Pakistan or India’s Hindu nationalist Bharatiya Janata Party). This drives human behavior. Most certainly, religion frames agendas and policies and can have enormous impact and influence on politics.

India’s President Modi is seeking to impose the Hindutva ideology of supremacist Hinduism on India’s estimated 204 million Muslims. This is an attempt to mix oil with water, it seems. Suffice it to say that religion has a big impact on geopolitics.

Though Wall Street remains largely silent on such developments, ignoring religious activism would not be wise. Actions born of religious beliefs are ongoing.

Consider this year’s elections in Turkey. President Erdogan continues his slow and steady re-Islamization of Turkey. (Atatürk would not have been pleased.) Erdogan says he wants to create pious Turks with the Koran in one hand and a laptop in the other. Efforts to achieve this are in process with the Imam Hatip schooling system (now making up 11 percent of the total upper school population). The funding is double the amount spent per pupil at mainstream schools.

Otherwise, all over the world, right-wing politicians are turning to religion to boost their appeal. There is no end to further examples of political cohabitation with religion that could be listed.

Thoughts to Ponder

Religion will play a heightened role in volatile geopolitical times. Extreme election swings may soon be commonplace. Democracy must remain dominant to facilitate political changes. “Minilateralism” is spreading quickly. All of these factors contribute to a high state of geopolitical fluidity. This lays the foundation for the rapid events that will usher in the 10 kings. Crucially, this, in turn, alerts “those with eyes to see” that the Rapture and our redemption are nigh.

***

Wilfred J. Hahn is a global economist/strategist. Formerly a top-ranked global analyst, research director for a major Wall Street investment bank, and head of Canada’s largest global investment operation, his writings focus on the endtime roles of money, economics and globalization. He has been quoted around the world and his writings reproduced in numerous other publications and languages. His 2002 book The Endtime Money Snare: How to live free accurately anticipated and prepared its readers for the Global Financial Crisis. A following book, Global Financial Apocalypse Prophesied: Preserving true riches in an age of deception and trouble, looks further into the prophetic future.

Do you have questions or other perspectives? You can contact Wilfred at: staff@eternalvalue.com. Please note that for reasons of volume and investment securities regulation, he cannot give financial advice.