Signs of the Times

Economic Issues

PROPHETIC SIGNIFICANCE:
Economic trends have a strong influence in shaping the development of national and international affairs. Prophecy students are expecting the emergence of an End Times world government which will not necessarily be led by the United States. The troubled world economy will make people willing to accept the control of a governmental system or even a benevolent dictator who appears to have the ideas and influence to improve the situation.


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Insight from 2012: The Year the World Didn't End
Insight From 2011 In Review: The Year In Prophecy
Insights from 2009 In Review - The Year In Prophecy
Insights from 2008 In Review - The Year In Prophecy
Commentary: The Connection Between The Economy and Prophecy




Key Scriptures

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Economic Issues
Revelation 6:5-6 Further Study
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Current Events and Links

Significance of the Economy in Prophecy

See also:
Mark of the Beast
New World Order

Notice: Sources often remove their news links after a period of time. Some of them move older stories to a subscription-only section. Even if the story is no longer on line, our summary will still be available on this page.
See more recent articles: After December 31, 2013


What the Bible Says About Money (Shocking)

Dec. 12, 2013 - Encouraging article and video about Sean Hyman (seen on Fox Business, CNBC, and Bloomberg Television) and his Bible secrets about investing.
Source:Money News

Significance of the Economy in Prophecy


WTO agrees global trade deal worth $1tn

Dec. 7, 2013 - Meeting in Bali, Indonesia, the World Trade Organization gathered representatives of 159 countries to approve a trade deal that could add a trillion dollars to world trade, including better opportunities for poor countries.
Some analysts suggest the benefits could be large. An influential Washington think tank has put the potential gains to the world economy at close to $1tn and 20m million jobs.
This is the first comprehensive agreement to emerge from the World Trade Organization since it was founded in 1995.
Source:BBC



Cyber Monday Sales Hit Record as Amazon to EBay Win Shoppers

Dec. 3, 2013 - Online sales reached a new record yesterday after physical store sales declined on the Black Friday weekend. Cyber-sales rose 19 percent over last year's total and experts believe that Internet sales for the whole holiday season will climb as much as 15 percent to $82 billion.
Retailers catering to smartphone and tablet users benefited the most, with mobile traffic accounting for 30 percent of the total site visits, an increase of more than 58 percent from last year.
Source: Bloomberg
Amazon's drone delivery: How would it work? - Prophecy Central's Technology Section

Bitcoin Goes to Washington: Monday’s Hearing Is Just the Beginning

Nov. 18, 2013 - Congress will begin hearing today on how to regulate "Bitcoin" and other virtual currencies. Bitcoin is the currency used in the Silk Road, which was taken down because it was known as the “Amazon for drugs.” The hearing will just be the beginning of a long process of understanding what Bitcoins are, and how they differ from other currencies. The Bitcoin market is already worth more than $2 billion and growing.
“Honestly, the environment seems to be a game of hot potato where no politician wants to be caught being pro or anti bitcoin,” says Charles Hoskinson, director of the Bitcoin Education Project.
Source: TIME

'Chaos' part of Obama's drive toward single-payer system, says physician

Nov. 18, 2013 - Last week President Obama announced that insurance companies will have option to keep offering plans that would otherwise be canceled. Dr. Keith Smith, an Oklahoma-based physician, says that his decision will likely cause matters to get worse.
"But people have to remember that the intention of the Affordable Care Act is to introduce such chaos into the medical marketplace ... the whole thing will crash and that ultimately we will end up with a single-payer system."
Source: OneNewsNow

Sebelius faces critics during hearing on ObamaCare roll-out

Oct. 30, 2013 - Health and Human Services Secretary Kathleen Sebelius is testifying before the House Energy and Commerce Committee today. She is explaining the current state of the malfunctioning registration website and answering pointed questions from committee members.
Sebelius was testifying after the website's data hub experienced another outage on Tuesday. On Sunday, a similar outage at a Verizon Terremark data center brought the website down, even as White House officials claimed the website was up and running.
Source: Fox
Health chief Sebelius apologizes for botched website - USA Today
Sebelius rejects enrolling in Obamacare exchanges - Washington Times

Obama administration knew millions could not keep their health insurance

Oct. 29, 2013 - Between 2009 and 2012 President Obama repeatedly assured Americans who liked their health insurance plans that they would be able to keep it.
But millions of Americans are getting or are about to get cancellation letters for their health insurance under Obamacare, say experts, and the Obama administration has known that for at least three years.
NBC News says that 50 to 75 percent of the 14 million consumers who buy their insurance individually can expect to receive a “cancellation” letter.
Source: NBC
Obamacare and NSA spying: What did Obama know, and when did he find out? - CNN
White House knew ObamaCare claims were false - Fox
Krauthammer: ObamaCare will collapse on its own - Fox
Obama Doesn't Know Jack - Rush Limbaugh

Senate Leaders Reach Bipartisan Deal

Oct. 16, 2013 - Republicans and Democrats are trying to finish a temporary compromise bill that would raise the nation's debt ceiling, avoid a debt default, and reopen the government.
As outlined by aides, the deal would fund federal agencies through Jan. 15 and extend the nation's borrowing authority through Feb. 7. A negotiating committee would be charged with devising plans for longer-term solutions.
Source: Wall Street Journal
The sun is setting on dollar supremacy, and with it, American power - "It is perhaps a good time for the befuddled world to start considering building a de-Americanised world", China's official government news agency has said. - Telegraph - UK

Senate leaders scramble to craft budget deal, but will House GOP buy it?

Oct. 15, 2013 - Members of Congress are hoping to vote today on a compromise budget proposal. This would open the way to deal with the debt ceiling and hopefully start the process of funding the government, which has been partially shut down for two weeks.
Senate Minority Leader Mitch McConnell, R-Ky., and Senate Majority Leader Harry Reid, D-Nev., scrambled late Monday to iron out the specifics of an emerging budget proposal after a string of prior plans fizzled.
Source: Fox
Tea Party Activists Push Back on Senate Deal; House GOP Crafts New Bill - NewsMax

'De-Americanized' world needed after US shutdown: China media

Oct. 13, 2013 - Xinhua, China's state-run news agency issued a harsh commentary on America's shattered government and its inability to deal with financial issues. They suggested that this is a good time for the world to consider "building a de-Americanised world." It added:
"Such alarming days when the destinies of others are in the hands of a hypocritical nation have to be terminated. A new world order should be put in place. . ."
Source: Global Post

Washington braces for prolonged government shutdown

Oct. 2, 2013 -
Washington began bracing for a prolonged government shutdown on Tuesday, with House Republicans continuing to demand that the nation’s new health-care law be delayed or repealed and President Obama and the Democrats refusing to give in.
Source: Washington Post

Share This Chart With Anyone That Believes The U.S. Economy Is Not Going To Crash

July 23, 2013 - See this chart that shows how much more our debt is growing than our earning-power.
Source: The Economic Collapse Blog
Four in Five Americans Face Near-poverty, No Work Under Obama - NewsMax
American Dream Slipping Away as Homeownership at 18-Year Low - Money News

Bernanke sends stocks, bonds skittering

Jun. 20, 2013 - Federal Reserve Chairman Ben Bernanke upset the stock market by saying that the FED would probably slow down its stimulus later in this year.
The Dow Jones industrial average plunged 206 points to 15,112 points at the close. The Standard & Poor's 500 index lost 22 points, or 1.3 percent, to 1,628. The Nasdaq Composite fell 38 points to 3,443.
Source: CBS
Farewell Bernanke – Thanks For Inflating The Biggest Bond Bubble The World Has Ever Seen - The Economic Collapse
Who Controls The Global Economy? Do Not Underestimate The Power Of The Big Banks - The Economic Collapse

Sell US Treasurys Before They 'Crash,' Bank of America Says

June 3, 2013 - Bank of America advisors are saying that investors should sell U.S Treasurys and buy bank stocks because bonds may be headed for a “crash.”
“It’s hard to believe that the greatest bond bull market in history will end without some bloodshed,” Michael Hartnett, the bank’s chief investment strategist, recently wrote in a client note.
Source: Newsmax

Authors: China Rapidly Taking Over World Economically

June 3, 2013 - An editorial piece in the New York Times says that China is becoming the world's economic superpower
Heriberto Araujo and Juan Pablo Cardenal, authors of the book "China's Silent Army," say China's attempt this past week to buy American pork producer Smithfield Foods and French resort company Club Med are indicative of the West's problem.
A meeting between President Barack Obama and Chinese President Xi Jinping are scheduled to meet at Rancho Mirage, Calif to work out complex relations between the two countries. The authors of the new book say that the U.S. should first hold China accoountable for the alleged hacking of U.S. computers.
Source: NewsMax

World Bank Insider Blows Whistle on Corruption, Federal Reserve

May 22, 2013 -
A former insider at the World Bank, ex-Senior Counsel Karen Hudes, says the global financial system is dominated by a small group of corrupt, power-hungry figures centered around the privately owned U.S. Federal Reserve.
The network also controls the media to cover up its activities.
Source: New American
The Network of Global Corporate Control - PLOS ONE

Why A Cyprus-Like Seizure Of Your Money Could Happen Here

Mar. 27, 2013 - Big-money depositors, mostly from Russia, will lose up to 40% of their savings in Cyprus banks (see previous story). This prompts American investors to ask if something like this could happen in the U.S. Steve Forbes says "yes," citing situations in the past, like the government's confiscation of gold in 1933–34. Dollars were paid for the gold, but then the dollar was devalued by 40%. Other examples were the deliberate undermining the value of the U.S. dollar in the early 1970's by President Nixon and the Federal Reserve, and the more recent governmental take-over of parts of the auto industry.
In 2009 the Obama Administration pushed through a brazenly political restructuring of bankrupt General Motors and Chrysler ... at the expense of bondholders. Banks signed off on the deal because they had no choice—their survival depended on the whims of Washington.
The article explores other ways that the government might tap retirement savings and other investments. Inflation is another obvious way of decreasing the value of our savings.
Source: Forbes Magazine (April)

Cyprus bailout deal with EU closes bank and seizes large deposits

Mar. 25, 2013 - Cyprus is being forced to accept shocking changes to its banking system or be cut off from use of the Euro currency. European leaders will require Cyprus to close down the island's second-largest bank and inflicts huge losses on wealthy savers.
Those with deposits of less than €100,000 (£85,000) will be spared, but those with more than €100,000 – many of them Russian – will lose billions of euros under draconian terms aimed at preventing the Mediterranean tax haven becoming the first country forced out of the single currency.
These actions are expected to cause lasting damage to the Cypriot economy, and its offshore banking practices that attract Russian money. Some experts expect the country's economy to contract by 10% or more in the years ahead.
Source: Guardian - UK
The end of life as we know it in Cyprus - Fox

Survey: Seven-in-Ten Cutting Back Due to Payroll Tax Rise!

Feb. 21, 2013 - Most Americans say they have had to cut back on spending this month because of the additional witholding taxes
The Dec. 31 expiration of a payroll-tax break translates to $15 a week more in Social Security taxes for a person making $40,000 a year.
Source: NewsMax
Wal-Mart’s ‘Atrocious’ Quarter Reveals a Faltering Economic Recovery - Yahoo

Feds buying enough bullets for '24-year war'

Feb. 18, 2013 - Radio host Mark Levin questions why the federal government has purchased nearly two billion rounds of ammunition in the last 10 months. That would be enough to maintain a conflict like the Iraq War for 24 years. It would be enough to shoot every American five times.

Levin told his listeners that he thinks the government is preparing for the possible collapse of our financial system and ...
... the potential for widespread violence, looting, killing in the streets, because that’s what happens when an economy collapses.
Source: WND
Palin: Washington buying bullets for us - WND

EU, U.S. fire starting gun for free trade talks

Feb. 13, 2013 - The United States and the European Union have agreed to launch talks by June to create a free trade alliance.
A free trade deal would be the most ambitious ever attempted, encompassing half the world's economic output and a third of global trade flows.
Source: Reuters

Congress Passes Fiscal Crisis Bill

Jan. 2, 2012 - Congress finally managed to approve a compromise financial bill with twice as many Democrats supporting it than Republicans
Congress gave its final approval Tuesday to a bill halting massive tax hikes and delaying a risky round of spending cuts, sending the package to the president’s desk and likely averting for now an economy-stalling fiscal crisis. President Obama said he would sign it.
The "deal" postpones other major decisions for a couple of months: the details on spending cuts and the issue of raising the debt ceiling again.
Source: Fox
Charles Krauthammer: Cliff deal a 'rout' - Politico

Fiscal crisis measure now heads to the House for approval

Jan. 1, 2013 - Congress has already missed its midnight deadline to deal with the "fiscal cliff" of huge tax increases, but the Senate approved a scaled-down compromise bill. It was approved in the early morning hours today. If the House of Representatives approves the measure it will continue the Bush era tax cuts for families making less than $450,000 per year. It also keeps the current financial support for the military for two months. No immediate spending cuts were included in the legislation.
Officials said the two sides agreed to postpone the cuts by two months, in exchange for a 50-50 mix of revenue increases and spending cuts. Of those cuts, half would come from defense and half would come from other budgets.
Source: Fox

See earlier articles: Before January 1, 2012














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