EVERY SINGLE ECONOMIC INDICATOR IS IN A FREE FALL!
(Alan S. Blinder has been on the Princeton faculty since 1971 and served as a member of President Clinton’s original Council of Economic Advisers, and then as Vice Chairman of the Board of Governors of the Federal Reserve System)
One of the indicators Blinder was referring to is unemployment and the job cuts that are taking place. Here is a short list of some of the more recent announcements:
| DHL to cut 13,000 jobs! [link to ap.google.com] American Express to cut 7000 jobs and Bank of America to cut 7,500 Jobs! [link to www.ptinews.com] GM and Ford 5,600 jobs cut [link to www.wcsh6.com] Whirlpool to cut another 3,000 jobs. [link to www.bizjournals.com] Yahoo to cut 1,000 Jobs [link to www.marketwatch.com] | Hewlett Packard Announces 24,000 Job Cuts!! [link to www.marketwatch.com] UBS to cut 9,000 Jobs [link to www.marketwatch.com] Fidelity to cut nearly 1,300 jobs this month [link to www.reuters.com] Dana to cut 2000 jobs and close plants [link to ap.google.com] Dollar Thrifty Automotive to cut 400 jobs [link to www.reuters.com] |
Although I have made a few posts regarding the dire economic condition of the US and the World and how it all relates to prophesy, I have really restrained myself from making our current financial mess the main theme of this blog since it is only one small component of the general topic I am addressing.
Nevertheless, we are witnessing prophesy being fulfilled before our eyes and it is necessary for Babylon to shake as the Marvelous Work is ushered in. Many of the financial watchmen on the towers have recently been acknowledging that we have "crossed the rubicon" and hit the "point of no return"
I think it is time for another reality check on our current financial situation. (For ongoing updates on the economy the Pay Attention Blog has informative stuff from time to time.)
In recent events, the Federal reserve has loaned over TWO TRILLION DOLLARS in loans to troubled financial institutions but is refusing to release who the institutions are and what the troubled assets are that are being loaned against.
Bloomberg is suing them under the U.S. Freedom of Information Act but the fed is unwilling to provide the information supposedly because they don't want to created financial panic.
Gerald Celente is perhaps the most accurate economic futurist of our times. Back in 2007 he made the following prediction:
“In 2008, Americans will wake up to the worst economic times that anyone alive has ever seen... Just as they didn’t see 9/11 coming and were frozen in shock when terror struck, [Americans] will be frozen in shock when terror strikes again.... failing banks, busted brokerages, toppled corporate giants, bankrupt cities, states in default, foreign creditors cashing out of US securities…the stage is set, the big one is on its way.” Gerald Celente The Trends Research Institute December 17 2007
More recently, Celente said:
"Beyond the $1 trillion subprime problem that has been erroneously targeted as the prime culprit behind the credit crisis are more serious financial catastrophes that are barely reported, mostly overlooked and cannot be remedied. The Fed cannot print enough money to paper over the $531.2 trillion in derivatives and credit swaps, the trillions in the overbuilt commercial real estate market ready to collapse, the multi-trillions in leveraged buyouts going bust, and other exotic financial instruments that have turned toxic. Yesterday’s lowering of interest rates and the continual Fed action to flood the markets with money will lead to an era of hyper-inflation, the likes of which no living American has ever seen. Gold prices shot up some $24 after being down over $20 earlier in the day. We continue to forecast gold $2000. And once again, we urge you to take precautionary measures in view of a worsening global market meltdown.”
The following is a video of a recent interview with him:
Wow... looks like that video has already been censored... Here is a less frightening one from his website:
Jim Rogers is another credible voice warning of the doom to come. Although he views things through the eyes of a billionaire investor and not through the eyes of prophecy... he paints a pretty sobering picture of our current situation.
In the following interview he speaks of the "idiot at the Federal Reserve" and rants that neither George Bush or Bernanke knows anything... Every time an interviewer asks what he thinks Bernanke should do he says Bernanke should abolish the federal reserve and resign.
He warns that inventories of food are the lowest they have been in 50 years. He predicts a massive inflationary nightmare. He warns that Paulson throwing money at the problem will not fix it....
[Update added recently] The interesting thing about the financial problems that are making front page news is that all of them put together don't even begin to compare with the biggest financial problem of them all which has to do with derivatives scam:
"November 21, 2008 (LPAC)--Lyndon LaRouche today declared that leading bankers and government officials have gone "from fear to panic,'' as the next phase of the total disintegration of the global financial system hits. "We are now seeing the blowout of the multi-trillion dollar derivatives bubble,'' and this is what is driving the panic, LaRouche explained.
As of the end of June 2008, official figures, compiled by the U.S. Comptroller of the Currency, showed a total derivatives exposure of the three largest U.S. bank holding companies--JP Morgan Chase, Citicorp and Bank of America--stood at more than $179 trillion. And the Bank for International Settlements put the amount of documented outstanding derivatives contracts worldwide at the end of 2007 at $675 trillion--still a fraction of the actual exposure.
During November, investors in hedge funds had the opportunity to withdraw their cash, without penalty, and this factor, on top of the already onrushing unraveling of the derivatives bubble, is playing out. LaRouche noted that every major financial institution of the United States, Europe and Asia is tied up in the derivatives collapse, but no one has a clear picture of the exposure of the other financial institutions.
"This is the big explosion, detonating right now,'' LaRouche warned. "And so far, I am offering the only coherent solution--bankruptcy reorganization of the entire global financial system--starting with the cancellation of all derivatives obligations. My solution poses an existential threat to the entire Anglo-Dutch financial system of globalization. I know it, many leading bankers and government officials around the world know it, and, of course, the British know it. This is why the fear has turned to outright panic. We are nearing the showdown moment."
Ron Paul is perhaps one of the last true patriots in our government. He made the following comment:
"Madam Speaker, I have, for the past 35 years, expressed my grave concern for the future of America . The course we have taken over the past century has threatened our liberties, security and prosperity. In spite of these long-held concerns, I have days–growing more frequent all the time–when I’m convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed."
In the interview below, he speaks of the coming one world currency that will lead into the one world government. He speaks about how Obama was hand picked by the powers that be:
In a recent article entitled " Warnings from world leaders all within 72 hours The following statements were made:
“Over the last 72 hours there has been a strange mélange of cryptic messages leaked from world political leaders about what could be in store for America over the next few months.
These predictions of impending doom come from England, France, Australia and the United States.
Biden told the top Democratic donors that a “generated crisis” will develop within six months and Barak Obama will need the help of community leaders to control the population as unpopular decisions are made and Americans resist."
There is a secret society that is behind the manipulation of our financial markets. They are the same secret society that is getting ready to create the "generated crisis" that will lead to war, rebellion and a break down in the fabric of our social system.
As I have mentioned in a previous post, we are living in the year following the completion of the 400 years since a remnant of Abrahams Children came to this country and planed the cross in the soil and dedicated this land to Jesus Christ. Since the 400 year period has know expired, it is time for this nation to be judged.
Our nation has chosen the greed based economic program offered by the likes of Adam Smith and others instead of the Law of Consecration offered us through the Prophet Joseph Smith.
It is not a coincidence that our evil financial system is imploding right now. This is the appointed time.
The Lord has promised us that "..if ye are prepared ye shall not fear" Are ye prepared?
In an upcoming post I am going to identify the secret society behind all other secret societies. Stay in touch.
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