U.S. at Risk of Default

Prophecy Sign:  The collapse of the economies of the world, to be replaced by the financial system of the Antichrist

The dominoes are lined up and are ready to fall.  The biggest domino of them all will be the fall of the American economy.  With a huge and growing debt level, a stagnant economy, and the possibility of debt default, things are not looking so good in America.  And with an ailing European Union and the Japanese with the highest GDP to debt ratios in the world, the global financial system is now sitting on the very edge of collapse.  Just what event will push it over the edge remains to be seen.

Now listen, you rich people, weep and wail because of the misery that is coming on you.  Your wealth has rotted, and moths have eaten your clothes. 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

The merchants who sold these things and gained their wealth from her will stand far off, terrified at her torment. They will weep and mourn and cry out:  Woe! Woe to you, great city, dressed in fine linen, purple and scarlet, and glittering with gold, precious stones and pearls! In one hour such great wealth has been brought to ruin!’ Revelation 18:15-17 NIV

From the article:

Reports of China buying Eurozone government debt may have led to a rise in the euro and equities. However, the scale of sovereign debt risk internationally is such that even significant and ongoing Chinese buying would be unlikely to contain the crisis.  Sovereign debt risks in Europe and internationally continue to threaten the increasingly fragile economic recovery.  While most of the focus has been on Greece and Eurozone sovereign debt issues, the not insignificant risk posed by a U.S. sovereign debt crisis increases by the day. The risk of a US default continues to rise which can be seen in the sharply increased cost to insure U.S. sovereign debt.
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Now the economic data is softening all over again. In many cases, what had been slower growth is actually starting to come in as negative rather than stagnant growth.  GDP growth is anemic.  The official unemployment rate ticked back up to 9%.  Now the new economic data coming in after Japan’s quake and tsunami that is at the same time as China and India are putting on the growth brakes is looking worse than just anemic growth ahead.  Maybe you can blame some of it on high gas prices, maybe some is from Asia, and maybe it is just that the underlying base economy has never really caught back up.  The data is now close enough to no growth or stagflation growth at the same time that the U.S. is arguing about the debt ceiling as we are just maxxed-out on government spending. 
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The United Nations warned on Wednesday of a possible crisis of confidence in, and even a “collapse” of, the U.S. dollar if its value against other currencies continued to decline. In a mid-year review of the world economy, the UN economic division said such a development, stemming from the falling value of foreign dollar holdings, would imperil the global financial system.

U.S. at Risk of Default as Cost to Insure U.S. “Ponzi Scheme” Against Default Rises Sharply

http://news.goldseek.com/GoldSeek/1306414800.php

The Arguments Begin to Form for QE3

http://247wallst.com/2011/05/26/the-arguments-begin-to-form-for-qe3/#ixzz1NZLM3Ap8

U.S. dollar could 'collapse': UN

http://www.canada.com/business/dollar+could+collapse/4839011/story.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+delicious%2Fgqlf+%28Christian+Headlines+Top+Headlines%29