WARNING: US MONETARY CRISIS APPROACHING

[choir loft]

The CONGRESSIONAL BUDGE OFFICE reported on Thursday February 12, 2021 that the Federal debt will exceed the size of the US economy (GDP)  this year - not counting the new bail-out. (CNBC 02/12/2021 Jeff Cox reporting)

America has now entered the largest debt period in its history.  Can any economy survive such fiscal abuse?

Experts have sounded alarms for years, but no one in a position of Federal leadership has acted in a responsible fashion to address the issue.  Indeed, Washington believes it can continue to create money out of thin air without fiscal repercussions.  

What does this mean for taxpayers?

It means the horror of hyper-inflation looms on the horizon.  It means a pound of hamburger might sell for twenty or thirty dollars or more.  It means a loaf of bread would cost nearly as much and a gallon of milk, if available at all, would cost twice as much as a gallon of gasoline.

It means that instead of responsible fiscal leadership, our fearless leaders in Washington may act to seize up to fifty per-cent of our liquid assets (money in savings accounts and/or annuities).  It has happened in European countries that had much less debt.  ATM machines would be shut off for weeks at a time and with no way to access their money, citizens would take their panic to the streets.

Think I'm dreaming?  Think again.  Do your homework.  

What can we do about this?

Squirrel away as much cash as possible in places that banks cannot go.   Safe deposit boxes belong to the banks and they can dip into those secure places if they wish to.  Don't think they won't.   Precious metals are risky.  Gold is pretty solid,.  Silver is cheaper, but doesn't rise and fall in value as much as the yellow metal.  Jewelry is a lot cheaper than you think.  Don't count on it for an emergency.

As always God is our protector - IF and only IF we have removed SIN from our lives and hearts.   Churches today don't think much of the message of repentance and its effect upon divine protection for us.   They focus on donation$ that aren't as amenable to serious admonitions to confession.  When was the last time you heard a sermon series on repentance and confession?  Such words are sorely needed, but rarely preached.

Our help and fortress is God, but ONLY IF we are living clean lives before God.   Do a Bible study on the subject and put aside false rabbit trails that lead outside God's requirements for living - God's LAW.  Think I'm a little cracked?   Think again.

that's me, hollering from the choir loft...

Edited February 12, 2021 by choir loft

[teddyv]

Where did you get this from?

From what appears to be the Jeff Cox CNBC article you are referencing:

Quote

The federal budget deficit is projected to total $2.3 trillion in the 2021 fiscal year, a drop from last year but well ahead of anything the U.S. had seen prior to the Covid-19 pandemic, the Congressional Budget Office reported Thursday.

That total does not include the $1.9 trillion in relief spending that President Joe Biden has proposed, because the ultimate size of the package has not been determined.

While smaller than the $3.13 trillion shortfall in fiscal 2020, the red ink this year still will be the second-largest in the nation’s history either in total dollar terms or as a proportion of the $20.9 trillion U.S. economy.

Another article from the same journalist.

Quote

Fed’s Harker says inflation won’t be posing a threat anytime soon

 

 

 

[OneLight]

Sure hope nobody is surprised ...