It has been 80 days since the IRGC’s precise rocket attack on a base occupied by US military, and the Iranian regime’s call for the US military to leave the Middle East.
In my last book, Chronicles, the case was made that of the three parts of the earth (i.e., Babylon the Great) to each receive slightly different judgment, the Americas’ theme would be grinding poverty. (The other two parts would be Chinese tyranny, and the Antichrist’s empire.)
Between the recent news of the economic effects of the fear of Covid-19 and the coming Second Signpost anticipated by this immediate community, it looks like much of the world—the USA in particular—will get a one-two economic punch, a double portion.
Effects From Covid-19 Fear
In this recent post we noted that the fear of a coronavirus pandemic was causing the economic problems we are seeing today.
This piece from ZeroHedge sums up well both the real reason for the $2.2 Trillion stimulus package, as well as how the economic dominoes may fall, just from Covid-19.
The real reason for the stimulus package is to help US companies keep their stock prices up. This may sound silly or sick, but it is nevertheless true. Out of $2.2 Trillion, the American workers as a whole will see only a quarter of that money. The rest goes to corporations and elsewhere.
Instead of simply freezing the chain of payments, i.e. a small business store or restaurant that pays rent to the landlord doesn’t have to, and the landlord who must pay his own bills doesn’t have to, including mortgage payments, and on up the chain all the way to the banks, no, payments must still be made. So instead of making the banks play along with freezing everything for, say, a month or two, instead $2.2 Trillion is given to people and companies and it all ends up eventually going back to the banks. The article says the basic reason for all this is the banks can’t take on that much risk. But the companies and workers of America can? So basically, the stimulus package could do a lot more good to help people, but the banks power and greed are preventing this.
Anyway, a second feature of the article already mentioned above is it sums up the economic dominoes falling for much of the American populace:
“Who can survive on $1,200 for one, two or three months time? And what happens to the millions of people who paid no taxes last year? Are they supposed to scrape by on nothing? Congress knows that most households live paycheck to paycheck. With no savings how will they pay the rent, the electric bill, the phone and the cable? Congress is quibbling over an extra $600 per month unemployment for those who are lucky enough to get it, when most people are just trying to figure out how they’re going to survive, how they’re going to pay the mortgage, when they’ll be able to go back to work, and whether their job will still be there when this nightmare is finally over?
“Did you know that “if you don’t already have direct-deposit information on file with the IRS from previous tax returns, you won’t get the emergency funds for up to 4 months”? That means millions of people will have zero income for 4 months! What will become of them? Where will they go? Who will provide them with shelter and food? Shouldn’t congress be asking these questions?
“And what happens to the 50% of the American people who had less than $400 saved before the crisis hit? What happens to them when they fall between the cracks and lose their apartments, lose their jobs, and lose their ability to maintain their tenuous standard of living? These people will never regain their financial footing. Never. It’s a death sentence. We’re going to see an explosion of homelessness, drug addiction, depression, alcoholism, suicide and crime unlike anything this country has ever seen before. Are the imbeciles in congress so blind that they can’t see that they’re condemning a large part of the population to permanent, inescapable, grinding poverty and desperation? Can’t they see that?” [emphasis added]
The Coming Second Signpost
The long quote above touches well on the dire economic situation for tens of millions of Americans if the Covid-19 effects are allowed to go on for many weeks. The bottom line in Chronicles for America is to be “grinding poverty” just like the author above wrote. That’s the first punch.
Now, enter the Second Signpost, the second punch.
Remember the big features of the economic impacts of the Second Signpost: (1) Problems with gasoline supply due to scarcity and/or high price, (2) loss of US Petrodollar, and (3) loss of western credit system.
If what is predicted is true in the quote above: loss of housing, loss of jobs, and loss of standard of living for tens of millions, add on to that the effects of the Second Signpost. People will not be able to travel for any reason, even to find employment, due to the oil supply problem. Any money they do have with them will lose its value as it goes into hyperinflation due to the loss of the US Petrodollar. And any money they have in the bank will disappear with the loss of the credit system. The only money you will have is any gold or silver in your possession.
When I wrote Daniel Revisited and Chronicles and posited that western society would see economic depression, it was due simply to the effects of the Second Signpost alone. With oil expensive, and the banking system down, perhaps people would still be able to overcome these problems and have some semblance of economy limping along into the Signposts.
But now with the effects of the Covid-19 fear, society will see these Second Signpost effects, not from the standpoint of still having a job or a roof over their heads, but perhaps from being on the street and already having nothing to eat.
In other words, the final economic state of large swaths of society in the Americas may not be so much like residents of Mexico going into the Signposts, but maybe more like residents of Haiti or Venezuela.
Are we really surprised though? God wants people to come to Him.
So make sure you are in Him, living in Him, dependent on Him, thanking Him every day, and depending completely on his provision.