Zero Hedge: While everyone is debating the effects of possible trade sanctions on the global economy, few are paying attention to a far more serious issue. Enormous global debt, combined with low-interest rates, have set the stage for a global recession that has the potential for economic chaos.
The combination of enormous debt and artificially low-interest rates were at the center of the 2008 credit bubble. One would expect central banks to be aware of this and show more concern. However, the overall silence has been astonishing.
An exception to this is the Bank for International Settlements (BIS), which has been making loud noises about the toxic level of global debt and the anticipated bubble.
Opinion: The BIS is the Bank for Federal Reserve banks who are the bankers for the world’s banks. Confused? To make it simple, the BIS decides what banks live or die in a financial crisis.
From the article: “The BIS recently reported that the global debt of 2008 was $60 trillion, small when compared to the current debt of $170 trillion. To make matters worse, today’s global debt is 40 percent higher in relation to GDP than it was in 2008, just prior to the Lehman Bros. downfall.”
Recessions were recorded all the way back in Genesis 41:29-30:
“Indeed seven years of great plenty will come throughout all the land of Egypt; but after them seven years of famine will arise, and all the plenty will be forgotten in the land of Egypt; and the famine will deplete the land.”
When the recession of 2008-9 hit, it was hard to find anyone who remembered the plenty that preceded it. One day, possibly soon, a recession will come that will be unlike any that happened before. While hyperinflation has happened in certain countries throughout history (like the one happening in Venezuela today), global hyperinflation is found in Revelation 6:5-6:
“When He opened the third seal, I heard the third living creature say, “Come and see.” So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. And I heard a voice in the midst of the four living creatures saying, “A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.”
The Black Horse judgment finds a person working a full day to have enough money to buy food for that day. The oil and wine represent the uber-rich who will escape until the final judgments of Revelation 16.
Jeremiah 30:7 calls this “the time of Jacob’s trouble” and the last part of the verse tells us who will be saved, “But he (Jacob is Israel, Genesis 35:10) shall be saved out of it“.
So where is the Church? For the answer we go to the last book of the Bible and the words from Jesus in Revelation 3:10:
“Because you have kept My command to persevere, I also will keep you from (Greek ek, out of) the hour of trial which shall come upon the whole world, to test those who dwell on the earth”.
The church will be with Jesus, 1 Corinthians 15:51-52, 1 Thessalonians 4:16-18.