Folks, it's not a secret that our government is about bankrupt. "If Congress does not act to increase the Treasury Department's legal borrowing limit, which could be reached as soon as the first week of April, the government would face problems refinancing its debt and raising money for its operations, and, at worst, would risk default." (New York Times 2011)
Well, it's frightening yes, because, what then? Suppose the US government does default on its debt? We already know the dollar holds its value precariously, even somewhat artificially, based on "consumer confidence"; consumers being every other nation that must trade in dollars, the world's only reserve currency.
So what does it all mean? Well as a Christian I can rest in the assurance that I know how it will end. You see, contrary to popular belief, this world had a definite birth date, and it has a definite end date. I don't know that date, but I know who does. I have thought for a long time there would be another financial crisis coming and I've thought that this one we wouldn't recover from.
It doesn't take an economist to see how things are shaping up.
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