Fw: The Collapsing Economy
- ----- Original Message -----From: Grandtime@...Sent: Sunday, March 16, 2008 2:57 PMSubject: The Collapsing EconomyI received the following from a good friend of mine who has been studying last-day prophecy and current events for decades. This is probably the most sobering letter to date. I feel compelled to share this with you.Rich~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~Good Morning,
I received this news report today (March 16, 2008) and wanted to pass it along. I mentioned in my last commentary that the collapsing economy is an hour glass for us. It is counting down the time to the collapse, but also to D Day, or the day the calamity will come, meaning the drought and famine. With the economy worsening every day, it is obvious that it is in a nose dive. Last week we saw several major things:
1. On Friday there was a run on Bear-Stearnes, the large bank, which is in trouble. Its investors and clients are demanding their money and BS is broke. The Fed is promising to help it with enough capital to continue, but it will not be enough. The report says that it is about done as an independent bank.
2. Four major banks borrow $billions from the Fed; Citibank, JP Morgan Chase, Bank of America and Wachovia. These banks have written down hundreds of billions.
3. Oil hit $111 a barrel but dropped Friday back to $109, which is still very high.
4. It was announced that mortgages that are behind 90 days are up 36 percent from a year ago. That does not include those 30-60 days behind, which increases that percentage greatly.
5. HSBC Holdings and Lehman Brothers are also in trouble writing down billions. Together they are laying off 3400 people.
6. Accredited Mortgage has stopped doing business and is cutting almost all its employees, 1600 of them.
7. Wheat hit a new high price. It has been selling ordinarily for $3-7 per bushel. Yesterday it was selling for $24 per bushel and it will go higher. The cost of bread and baked goods will show this increased price in the next few weeks or days.
8. Toll Brothers, the biggest builder of luxury homes in the country, has defaulted on two large developments in Las Vegas. They were already in trouble from last fall. This may be their end too.
9. The stock market rose earlier in the week but has declined steadily and Friday it was down another 194 points.
10. Perhaps the biggest blockbuster is Kalifornia, which has a $13 billion budget deficit at present and is taking drastic measures to eliminate it. The first and hardest hit area is state education. The state plans to lay off 20,000 teachers and support staff in the schools. A little more than 10,000 of the cut jobs are teachers. I have never heard of teachers being laid off. All over the country and in Utah especially they are complaining about the shortage of teachers. Well, here are 10,000 or more to supply that gap. The economy of Kalifornia is about the fourth or fifth largest economy in the world. It is also collapsing under the pressure of the general decline of the US economy and under pressure of the socialist society they have set up to take care of their millions of Mexicans most of whom are illegal.
Warren Buffett said last week that if Bear-Stearnes collapses, it will mean the end of our financial system. The crisis is now so severe that apparently Congress is more than a little concerned, if this report below is accurate. It is from one of the Internet news sites and so far they are the only ones to report it. But apparently some congressmen have leaked word of the items discussed, and this should be very alarming to most citizens, although not to us. This news demonstrates that events are speeding up, as prophesied, and bringing us closer to the day when we will have to go into our homes and shut the doors to sit out this calamity. It is presumed that you have long since stored enough food and water to sustain you and your family through such a crisis.
As you can read, Congress is worried about the civil disorder and rioting what will happen when the collapse comes. They are assuming it is coming because there is nothing that anyone can do to prevent it. Isaiah says that men will fight each other and even cities and states will fight each other. This will be a terrible couple of weeks until people run out of energy and food, and have to go to their homes to die. Congress is obviously contemplating this.
I sincerely hope you are all ready with your food and plenty of water. You will need it. We must be ready. If it does not happen, we will wait until it does. But the collapsing economy tells us how close it is. Read the prophecy in Isaiah 19 again and see the picture there of the water having been taken and everyone is in economic distress. Both things happen at the same time.
SPECIAL "CLOSED SESSION" OF U.S. HOUSE OF REPRESENTATIVES DISCUSSED A LOT MORE THAN THE PENDING SECURITY SURVEILLANCE PROVISIONS
LAST NIGHT'S SESSION WAS ONLY THE FOURTH TIME IN 176 YEARS THAT CONGRESS CLOSED ITS DOORS TO THE PUBLIC
Word has begun leaking from last nights special, closed-door session of the United States House of Representatives. Not only did members discuss new surveillance provisions as was the publicly stated reason for the closed door session, they were also bluntly warned about:
the imminent collapse of the U.S. economy to occur by September 2008,
the imminent collapse of US federal government finances by February 2009,
the possibility of Civil War inside the USA as a result of the collapse,
advance round-ups of "insurgent U.S. citizens" likely to move against the government,
The detention of those rounded-up at "REX 84" camps constructed throughout the USA,
the possibility of retaliation against members of Congress for the collapse,
the location of "safe facilities" for members of Congress and their families to reside during expected massive civil unrest
the necessary and unavoidable merger of the United States with Canada (for its natural resources) and with Mexico (for its cheap labor pool),
the issuance of a new currency - THE AMERO - for all three nations as the proposed solution to the coming economic armageddon.
Members of Congress were FORBIDDEN to reveal what was discussed and ABC News via WCPO web site CONFIRMS congress members were FORBIDDEN to talk about it!
Several [congressmen] are so furious and concerned about the future of the country, they have begun leaking info. More details coming later today and over the weekend.
It's Tax Time! Get tips, forms and advice on AOL Money & Finance.