After all, how can officials from the Federal Reserve to the Bank of Japan even pretend to know how to reverse what they’ve done over the past decade? I’m speaking specifically about propping up financial markets with easy money and allowing the world’s debt burden to balloon to almost $250 trillion.
They kept interest rates at or below zero for an extended period — probably too long, if they’re being honest with themselves — and used bond-buying programs to further suppress sovereign yields, punishing savers and promoting consumption and risk-taking. Global debt has ballooned over the past two decades: from $84 trillion at the turn of the century, to $173 trillion at the time of the 2008 financial crisis, to $250 trillion a decade after Lehman Brothers Holdings Inc.’s collapse. more …
Opinion: Lehman was on par with the elite investment banks. I was in the business when it collapsed, and to financial types it was a 9/11 moment. After Lehman, it was all downhill until Federal Reserve chairman Ben Bernanke and a young US president decided to fix things instead of letting the economy cleanse itself into a 1929-style depression.
Quantitative easing, printing fiat money to buy defunct housing bonds drove interest rates down and propped up banks and financial markets. A decade of easy money was a terrible idea. But it is possible that it laid the groundwork for one aspect of Bible prophecy to be fulfilled.
Have you noticed that no nation is talking about paying down debt? Remember when kicking the can down the road and passing the debt to our children and grandchildren was shameful? No more.
The nations have quietly accepted the fact that the austerity measures required to pay down debt would be politically impossible. The world wants more wealth, and politicians and central bankers know that to be elected and keep their jobs they will have to provide it.
Prophecy students have debated the order of events in the book of the Revelation of Jesus Christ for 2000 years. I have found that the easiest way to get an understanding of the book is to follow the events chronologically:
- Revelation 1-3: The Church age
- Revelation 4-5: Rapture and Throne of God
- Revelation 6-12: First 3.5 years of tribulation/Antichrist
- Revelation 13-18: Great tribulation last 3.5 years/Armageddon
- Revelation 19-22: Second coming of Jesus Christ/ Millennial reign/Final judgment of lost
The great financial collapse takes place in Revelation 6:5-6. Notice that the removal (Rapture) of the church takes place before the beginning of the tribulation (Revelation 4:1).
When the final financial crisis hits it will be even worse than a global Venezuela.