I changed the title of my post to more accurately reflect the contents of this post.
This morning I read a very disturbing article by Brett Arends, a senior columnist for MarketWatch and a personal-finance columnist for The Wall Street Journal. The article is titled “IMF Bombshell: Age of America Nears End”. You can read the full article at bombshell.
Arends explains that by the year 2016 China’s economy will surpass the US economy. He explains that whoever is our next president “will be the last to preside over the world’s largest economy.” The US has had the largest economy since the 1890’s when we overtook Great Britain. Ten years ago, the US economy was three times the size of China’s economy.
How has this happened? Well, Arends explains that one reason is that China undervalues their currency (renminbi) on the foreign-exchange markets. They also engage in massive dollar purchases. Secondly, and to me the most critical, is that the US has exported a vast majority of its jobs to China. The effect of this has been detrimental to our economy. All throughout the US, factories are being shuttered, people have lost jobs, unemployment is growing, and families are losing their homes. It is not a roller-coaster that we have embarked upon but a steep downfall, from which I don’t think we can recover.
The US cannot continue its high level of spending and importing and then expect to remain on top. In truth, this only strengthens my belief that we are nearing the end of time and the second coming of our Lord Jesus. China’s massive army is foretold in Revelation 9:16 “And the number of the armies of the horsemen was two hundred million; I heard the number of them.” China’s army reached that number in the 1960’s.
I want to leave you with one thought, “What is going to happen to world when a Communist nation has the largest economy?”
Read the Book of Revelations in the Christian Bible and don’t forget to read Arends’ article as well. Then, post a comment about what conclusions you’ve reached.