Thursday, January 18, 2018
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In Need of a Savior

As we venture into a new year, our nation and world are continuing to spiral downward in almost every area of significance. Whether on the economic, political, or religious front, there seems to be a mounting tidal wave of bad news – warnings of impending disasters, a global financial meltdown, and the very real threat of war on the Korean Peninsula and in the Middle East. If not for the security found in the shelter of God’s presence, it would be natural for even the bravest of men to panic. Consider the following facts.

First, on the economy. In spite of forecasts by prominent economists telling us that home prices had bottomed out and wouldn’t go much lower, according to CNN, home values in the US tumbled another $1.7 trillion in 2010.[1] In some cities, upwards of 70 percent of homes are now “underwater” (people owing more on their homes than they are worth).[2] The housing market is being pulled down by a number of underlying factors, not the least of which is the erosion of the US manufacturing base:

● The United States has lost a staggering 32 percent of its manufacturing jobs since the year 2000. [Over 40,000 US factories have closed during this same period of time.]

● Even high technology industries are leaving America. Manufacturing employment in the US computer industry is actually lower in 2010 than it was in 1975.

● In 1959, manufacturing represented 29 percent of all US economic output. In 2008, it represented only 11.5 percent.

● As of the end of 2009, less than 12 million Americans worked in manufacturing. The last time that less than 12 million Americans were employed in manufacturing was in 1941.

● With so much manufacturing leaving the United States, is it any wonder why people can’t find jobs? The “official” unemployment rate in the United States has been at nine and a half percent or above for 14 consecutive months.

● Today, there are at least 1.5 million “99ers” – those Americans that have completely exhausted all 99 weeks of unemployment benefits and that still do not have jobs.

● Americans end up paying to support American workers one way or another. Either they buy American-made products and services that provide jobs for American workers, or they pay to support unemployed American workers on welfare. Today, over 42 million Americans are on food stamps. A record number of Americans are receiving long-term unemployment benefits.

● [Because of these and other disturbing trends...] one prominent economist now says that the Chinese economy will be three times larger than the US economy by the year 2040. According to one recent study, China could become the global leader in patent filings [in 2011].

● China has been accumulating a gigantic mountain of dollars from all of the wealth we have been sending them each month, and they have been lending massive amounts of money back to us. Over the past few decades, the communist Chinese have been able to accumulate approximately $2.5 trillion in foreign currency reserves, and the US government now owes them close to 900 billion dollars.

(Source: “Barack Obama: We Must Embrace Globalism And The Emerging One World Economy,” The Trading Report, The Economic Collapse Blog, November 10, 2010.)

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