We are living in exciting times. The Signposts point to Jesus soon return.

Friday, May 9, 2014

Fed Chair: ‘Deficits Will Rise to Unsustainable Levels’

Prophecy Sign:  The coming global economic collapse

Is it by shear stupidity or is it by evil design that the economic fortunes of the Western nations are being destroyed from within?  We suggest the latter. How can you possibly think that running up unsustainable debt loads can be a good thing for future generations?  It's not and it will ultimately collapse the present global economic system, (the plan).  And what pray tell will replace the global economy?  The present Pope has a suggestion; A new system of state capitalism, (aka the China way), where the state is the primary distributor of the nations wealth., and oversees all commerces activity, (the new economic world order of the Antichrist).  The free enterprise capitalist system will be a thing of the past.

They will throw their silver into the streets, and their gold will be treated as a thing unclean. Their silver and gold will not be able to deliver them in the day of the LORD's wrath. It will not satisfy their hunger or fill their stomachs, for it has caused them to stumble into sin. Ezekiel 7:19 NIV

Fed Chair: ‘Deficits Will Rise to Unsustainable Levels’
Federal Reserve Chairman Janet Yellen, referencing the Congressional Budget Office's long-term budget projections, told the Joint Economic Committee of Congress today that under current policies the federal government’s deficits “will rise to unsustainable levels.” In the 10-year budget projections it released in April, the CBO estimated that the federal government will run $7.618 trillion in deficits from 2015 through 2024. At the same time, the CBO projected that the federal government’s debt held by the public would rise from $11.983 trillion at the end of fiscal 2013 to $20.947 trillion by the end of 2024.
The total debt of the federal government at the end of fiscal 2013--including both the debt held by the public and the intragovernmental debt--was $16.719 trillion. The CBO estimates that by 2024, the total debt of the federal government will be $27.159 trillion—of which $20.947 trillion will be debt held by the public.

Barclays to cut 19,000 jobs over three years
Barclays is to cut 19,000 jobs by 2016, with more than 9,000 to go in the UK, the bank has said. As part of a new strategy, the investment part of the bank will lose about 7,000 jobs by the end of 2016. Barclays' investment bank has been hit by a slowdown in the demand for government and company debt. Barclays will also set up a "bad bank" which will eventually sell or run down £115bn of non-core operations. These include £90bn of investment bank assets and all of its European retail banking operations, amounting to £16bn of assets.

Pope demands ‘legitimate redistribution’ of wealth
On Friday, Francis called for the United Nations to promote a "worldwide ethical mobilization" of solidarity with the poor in a new spirit of generosity. He said a more equal form of economic progress can be had through "the legitimate redistribution of economic benefits by the state, as well as indispensable cooperation between the private sector and civil society."

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