Experts have been warning America every year that a collapse of the U.S. economy is going to take place, it is no longer if it will happen, but when it will happen. In 1982 Fialka wrote a fictitious scenario but I believe he may have seen the handwriting on the wall for our future. In January 2008 Fialka’s fictional script appeared to be coming true. Citigroup and Merril Lynch were forced to turn to foreign investors for what is an unprecedented bail-out. They had to seek 21 billion dollars from a foreign country to bail out the banks. These banks had to seek funds to shore up their balance sheets that are currently being devastated by the subprime mortgage crisis just like in Fialka’s fictitious scenario. You see it on the news almost every night. Thousands of people are walking away from their homes because they can no longer afford the high interest rates on their homes. Fialka’s fictional script became reality in September 2007, when there was a real run on the bank in England. The Timesonline reported that, “The jitters plaguing financial markets spread to the high street for the first time yesterday as thousands of panicking savers queued to withdraw millions of pounds from Northern Rock, Britain’s eighth-biggest bank. The rush to pull out savings followed the revelation that Northern Rock had been forced to ask the Bank of England for a rescue injection of finance”(Sept. 15, 2007). The Government’s worse fear is more banks will have to be bailed out, and more panic will set off a chain reaction that will bring down many governments. CNNMoney.com just wrote, “The phrase "run on the bank" is really something you never want to hear. Yet that’s what best describes Bear Stearns’ swift demise – and it has caused investors to wonder if such a run could happen elsewhere” (March 18, 2008). The U.S. government got so scared that there would be a major run on the Bear Stearn’s that they rode in and bailed them out, sending Bear Steran’s stock falling from $170.00 last year to $2.00 a share yesterday. I can’t help to wonder is this the way America will fall? What I do know is this, Jesus showed us who the next world power would be in line after the Old Roman Empire. We know the European Union (EU) is that last world power Jesus pointed us to. The world will soon begin to go through hard financial times. There will be more runs on banks and more panic will set in. In the end, the world will see a new world leader who will have what will appear to be the answers to this planet’s troubles, and this man will rise from the European Union, or revived Roman Empire. Before this man enters on the scene there will be more signs of global financial troubles, and the signs are popping up everywhere. Why did the government bail out Bear Steran’s? “Experts say the risks of inaction were far greater. With investors backing away from anything linked to the U.S. mortgage market, the Fed aims to prevent the value of those investments from plunging even further, which could cause widespread fallout among big banks. "The problem is that unless the major financial (companies) are kept solvent, the economy will suffer (so much) that everybody’s livelihood will be affected," said Peter Wallison, a senior fellow at the American Enterprise Institute”(TheStar.com March 18, 2008). Soon this is exactly what is going to take place, and you are kidding yourself if you don’t prepare for it. Here are some of the signs we are soon coming to the breaking point.
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For the past 5 years banks have been lending money to families who really could not afford to buy a home. Mortgage brokers managed to get millions of families into new homes by creative financing. Since the interest rates have climbed people who had these creative financing mortgages now don’t have the extra funds to pay their higher interest rates. Hundreds of thousands of families are now forced to bail out leaving the banks holding the titles to all of these empty homes. This no doubt is causing panic, panic not only in the U.S. but overseas as well, because what happens to the American economy is going to affect the global markets. Here is a short list of other signs that our economy is showing signs of collapsing, besides the current run on the banks. On January 16, 2008 news from Yahoo Finance reported that “Higher costs for energy and food last year pushed inflation up by the largest amount in 17 years.” The Federal Reserve in January also informed the public that the Nations production was flat in December 2007. These findings added to the string of bad news and are adding to the evidence that the U.S. economy is slowing down. One of the major signs our economy is going to tank is our falling dollar. As of March 17, 2008 our U.S. dollar is now the weakest it has ever been against the euro, a very serious sign of a coming collapse. A new report at the end of December 2007 showed sales of new homes plunged to their lowest level in more than 12 years. “The annual rate of building permits issued last month stood at 1.4 million-22.6 percent lower than the rate last July. And the rate of construction on new homes fell 20.9 percent compared with a year earlier, to 1.4 million ( nytimes.com Aug. 16, 2007). “At the beginning of last year, many economists put the chance of a recession at less than 1-in-3; now an increasing number say 50-50 or even worse. Goldman Sachs, the biggest investment bank on Wall Street, thinks a recession is inevitable this year” (From Washington- (AP) January 17, 2008).
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Why is all this happening? All these factors will play a very important part in Bible prophecy. Many people what to know if America is mentioned in scripture, they figure if we are such a major superpower why aren’t we talked about in the bible? I believe because the European Union, or (reborn Roman Empire), is to be the last world empire at the time Jesus returns, that the U.S. will decline and will not have the strength it once had. Jesus shows us in the book of Revelation that during the reign of the Antichrist all focus will be on this revived Roman Empire (EU), not the United States. The only place I see the U.S. mentioned is in the book of Ezekiel chapter 38:13. It’s much to complicated to cover this issue in this post but, if you go to page 146 of my book you will read a detailed write up on what the U.S. does and where you will see her. You can download this book free at this site, just click to post where it says download entire book. In short, Ezekiel shows America as a weak nation not able to aid her allies. It brings me no pleasure to tell you America will fall away as a major superpower. All I can say is this, if Jesus said the Revived Roman Empire would take center stage during the end times, then their must be a shift in power. What we are witnessing in our financial market place will speed up this shift in who is the last superpower reigning at the time Jesus comes back. Just keep your eyes on the European Union this year, you are going to see them become even stronger as an empire. Everything I am warning you about is based on scriptures taken out of the Bible. Since God is TRUTH, expect every one of His prophecies to come true! If you don’t believe it, just take a seat and watch the news, I promise you, you will see it unfolded before your eyes.
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I want to thank those who are passing my posts on to your loved ones and friends, My viewer ship has increased 50% in the last few months. In my heart I know the Holy Spirit is driving people to know the truth about His Words. If you haven’t received Christ yet I encourage you, don’t wait any longer. Please let me know if you have made a commitment in Jesus by reading my posts.