Prophecy Sign: The coming global economic collapse, (and reset)
So you want to know what an economic collapse looks like? Look no further than the uber-socialist paradise of Venezuela where in a matter of just a few short years the corrupt governments of Hugo Chavez and Nicolas Maduro have completely destroyed their nations economy with a series of horrendous wealth redistribution programs that chased private investment out of the country. In the meantime, western nations keep running up the credit cards to the point that they now owe far more than their yearly income, (Debt to GDP above 100%). This is a recipe for disaster, and eventually will cause Venezuelan style economic collapses across the globe.
Wail, you who live in the market district; all your merchants will be wiped out, all who trade with silver will be destroyed. Zephaniah 1:11 NIV
Watch Venezuela, Because Food Shortages, Looting and Economic Collapse Are Coming To America, (and the world), Too
The full-blown economic collapse that is happening in Venezuela right now is a preview of what Americans will be experiencing in the not too distant future. Just a few years ago, most Venezuelans could never have imagined that food shortages would become so severe that people would literally hunt dogs and cats for food. But as you will see below, this is now taking place. Sadly, this is what the endgame of socialism looks like. When an all-powerful government is elevated far above all other institutions in society and radical leftists are given the keys to the kingdom, this is the result. Food shortages, looting and rampant violent crime have all become part of daily life in Venezuela, and we all need to watch as this unfolds very carefully, because similar scenarios will soon be playing out all over the planet.
Spain's debt now worth more than value of the economy
Bank of Spain figures show that the country's public debt is now worth more than the value of the economy. The bank said Wednesday that Spain's public debt stockpile stood at 1.09 trillion euros ($1.23 trillion) in the first quarter of the year. That represents 101 percent of the country's annual GDP — 1.08 trillion euros — in 2015. The government estimates the debt ratio will be 99.1 percent of GDP at the end of 2016. Spain's public debt has risen consistently since the beginning of the country's economic crisis in 2008.
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