Prophecy Sign: An global economic collapse
During the Tribulation period, the economic system will be much different than that of our current system. Rather than sovereign states with independent currencies, the world will be untied in global governance with a global currency. This will allow the Antichrist to control who can buy or sell. But before this new system can be implemented, the current system we now operated under must be collapsed.
Now listen, you rich people, weep and wail because of the misery that is coming on you. 2 Your wealth has rotted, and moths have eaten your clothes. 3 Your gold and silver are corroded. Their corrosion will testify against you and eat your flesh like fire. You have hoarded wealth in the last days. James 5:1-3 NIV
From the articles:_________________________---
President Obama‘s budget, released Monday, was conceived as a blueprint for future spending, but it also paints the bleakest picture yet of the current fiscal year, which is on track for a record federal deficit and will see the government’s overall debt surpass the size of the total U.S. economy. Mr. Obama‘s budget projects that 2011 will see the biggest one-year debt jump in history, or nearly $2 trillion, to reach $15.476 trillion by Sept. 30, the end of the fiscal year. That would be 102.6 percent of GDP - the first time since World War II that dubious figure has been reached. And the budget projects the government will run a deficit of $1.645 trillion this year, topping 2009’s previous record by more than $230 billion. By contrast, 2007’s deficit was just $160 billion altogether.
Federal deficit on track for a record this fiscal year
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