We don't have a debt crisis, we have a spending crisis. American Politicians love to tax and spend...other people's money. As American Politicians drain cash from the economy, and they spend it on unnecessary programs, they unwittingly stall economic growth. With a fragile economy like we have, eventually we'll experience a meltdown. When? Historical evidence points to 2013.
Before I offer my "2013 Theory"evidence, I need to cite the biblical Daniel 2 dream (about 600 BCE) about a figurine with a head of gold (Babylon/Nebuchadnezzar 606-536 BCE), a chest and arms of silver (Medo-Persia 536-332 BCE), a middle and thighs of bronze (Greece/Alexander 331-146 BCE), legs of iron (Rome 146 BCE-?), and feet of iron mixed with clay (Our present system). During the prophetically silent time of 420 BCE to 3 BCE, these specific empires rose and fell exactly like Daniel prophesied.
Where is America in this dream? America is never specifically cited in the Bible. Please note there are five toes on the east foot (Asia) and five toes on the west foot (Europe). Militarily and economically, a single American toe would dwarf 80% of the other toes. That's not what the dream evokes.Taken literally, there is no American influence in the end times. This is why most eschatologists believe America becomes a third world country in the end times. I concur.
Thus, through biblical conjecture, many believe that America will implode soon. When?
My 2013 Theory: (Please refer to my book for more specifics on the theory.) The Bible is replete with special, significant numbers, such as 12, 40, 80, 100, 120, 150, 180, and so on. Working backwards from 2013, let's analyze what happened in these significant years. On September 11, 2001 (12) America was attacked. I believe this event opened the Second Seal of Revelation. Two events in 1973 (40), abortion and jettisoning the Gold Standard, caused an era of emotional detachment and greed/speculation. In 1933 (80), FDR began packing the court regardless of Constitutionality. Thus, America began a lawless devolution, as the federal government trumped state's rights more every year. Add in a national ID, called a Social Security Number (like 666, but not exactly), and you have a prophetic year. In 1913 (100), Paul Warberg came to America to implement a Federal Bank. While the Federal Reserve has done much to mitigate financial disasters, it has destroyed the middle class and mired us in debt. In 1893 (120) the prophetic clock began ticking as America passed Great Britain as the lone superpower. Prior to 1893, Lincoln signed the Emancipation Proclamation in 1863 and Jackson quashed the Federal Bank in 1833. Both events were blessings. My theory is that the blessings ended in 1893, and we're under God's judgement now. Author Jonathan Cahn, in his book "The Harbinger," agrees that America is under judgement.
Proof: Follow the money.
Billionaires Dumping Stocks, Economist Knows Why
Wednesday, 19 Dec 2012 04:53 PMBy Newsmax Wires
"Despite the 6.5% stock market rally over the last three months, a handful of billionaires are quietly dumping their American stocks . . . and fast.
Warren Buffett, who has been a cheerleader for U.S. stocks for quite some time, is dumping shares at an alarming rate. He recently complained of “disappointing performance” in dyed-in-the-wool American companies like Johnson & Johnson, Procter & Gamble, and Kraft Foods.
In the latest filing for Buffett’s holding company Berkshire Hathaway, Buffett has been drastically reducing his exposure to stocks that depend on consumer purchasing habits. Berkshire sold roughly 19 million shares of Johnson & Johnson, and reduced his overall stake in “consumer product stocks” by 21%. Berkshire Hathaway also sold its entire stake in California-based computer parts supplier Intel.
With 70% of the U.S. economy dependent on consumer spending, Buffett’s apparent lack of faith in these companies’ future prospects is worrisome.
Unfortunately Buffett isn’t alone.
Fellow billionaire John Paulson, who made a fortune betting on the subprime mortgage meltdown, is clearing out of U.S. stocks too. During the second quarter of the year, Paulson’s hedge fund, Paulson & Co., dumped 14 million shares of JPMorgan Chase. The fund also dumped its entire position in discount retailer Family Dollar and consumer-goods maker Sara Lee.
Finally, billionaire George Soros recently sold nearly all of his bank stocks, including shares of JPMorgan Chase, Citigroup, and Goldman Sachs. Between the three banks, Soros sold more than a million shares.
So why are these billionaires dumping their shares of U.S. companies?
After all, the stock market is still in the midst of its historic rally. Real estate prices have finally leveled off, and for the first time in five years are actually rising in many locations. And the unemployment rate seems to have stabilized.
It’s very likely that these professional investors are aware of specific research that points toward a massive market correction, as much as 90%."
Will 2013 Mark the Beginning Of The American Decline?
http://www.bloomberg.com By Simon Johnson Dec 23, 2012 5:30 PM CT
“A modest man,” Winston Churchill supposedly quipped about Clement Attlee, his successor as prime minister, “but then he has so much to be modest about.” We should say the same about economists, particularly their ability to forecast anything in a useful and timely manner.Those predicting an imminent American economic decline have usually been no exception. This time, though, they may be on to something.
Prevailing arguments about when the era of U.S. dominance would end, and which country would supplant it, have been wildly and consistently wrong for half a century. In the 1950s, Soviet leader Nikita Khrushchev was taken seriously when he told Western ambassadors “We will bury you.”
...Sooner or later, it will be America’s turn to fall out of favor with investors and to see its own interest rates rise. It is hard to know when that day will come, or precisely what pressures the country will face.
Let me only venture one forecast: We will not be ready.