Economic Collapse

Increasing Global Economic Collapse and Distress of Nations: A fresh wave of coronavirus job losses is about to come crashing down

Foreshadow Now, ‘Season of the End Times’:

Blog note. Jesus indicated that ‘fearful sights’ (various natural disasters) would occur leading up to the time known as the Tribulation and Great Tribulation (a combined seven year period of great destruction on earth). Although these types of things have occurred in the past for centuries and thousands of years, they could be identified as the ‘season of the times’ due to the ferociousness of these events. They would be occurring in greater intensity, severity, frequency, size, duration, scope … just like the pains that a woman experiences in labor the farther along she is in the labor process. We are in the ‘season of the times’ that comes just before the seven (7) year Tribulation/Great Tribulation period


… And great earthquakes shall be in diverse places, and famines, and pestilences; and fearful sights and great signs shall there be from heaven. (Luke 21:11).


… And there shall be signs in the sun, and in the moon, and in the stars; and upon the earth distress of nations, with perplexity; the sea and the waves roaring; (Luke 21:25)


… Men’s hearts failing them for fear, and for looking after those things which are coming on the earth: for the powers of heaven shall be shaken; (Luke 21:26)


… This know also, that in the last days perilous times shall come. (2 Timothy 3:1)
Jesus is giving a series of prophecies about what to look for as the age of grace comes to a close. These verses are several of many such prophecies from throughout the Bible. 2017 was the worst year in recorded history for the intensity, frequency, severity, duration and occurrence of a large number of severe natural disasters worldwide. Earthquakes, volcanoes, hurricanes, typhoons, cyclones, torrential flooding, unprecedented wildfires in unusual places, devastating droughts, excessive/scorching heat setting records everywhere, record snowfalls in Europe and Russia. Snow in the Arabia. This list can go on. Most studied Eschatologists believe these ‘fearful sights’ and massive natural disasters are all part of the ‘CONVERGENCE’ of signs that this Biblical and prophetic age is closing. Most people who study prophecy are familiar with the routine reference(s) made that these things will be like a woman having labor.

Future Seven (7) Year Tribulation and Great Tribulation:

Revelation 6 And I saw when the Lamb opened one of the seals, and I heard, as it were the noise of thunder, one of the four beasts saying, Come and see.

2 And I saw, and behold a white horse: and he that sat on him had a bow; and a crown was given unto him: and he went forth conquering, and to conquer.

3 And when he had opened the second seal, I heard the second beast say, Come and see.

4 And there went out another horse that was red: and power was given to him that sat thereon to take peace from the earth, and that they should kill one another: and there was given unto him a great sword.

5 And when he had opened the third seal, I heard the third beast say, Come and see. And I beheld, and lo a black horse; and he that sat on him had a pair of balances in his hand.

6 And I heard a voice in the midst of the four beasts say, A measure of wheat for a penny, and three measures of barley for a penny; and see thou hurt not the oil and the wine.

7 And when he had opened the fourth seal, I heard the voice of the fourth beast say, Come and see.

8 And I looked, and behold a pale horse: and his name that sat on him was Death, and Hell followed with him. And power was given unto them over the fourth part of the earth, to kill with sword, and with hunger, and with death, and with the beasts of the earth.

1 Thessalonians 5:3 For when they shall say, Peace and safety; then sudden destruction cometh upon them, as travail upon a woman with child; and they shall not escape

Revelation 13:16-17 And he causeth all, both small and great, rich and poor, free and bond, to receive a mark in their right hand, or in their foreheads: And that no man might buy or sell, save he that had the mark, or the name of the beast, or the number of his name.

A fresh wave of coronavirus job losses is about to come crashing down

By Julia Horowitz, CNN Business Updated 8:00 AM ET, Sun March 22, 2020

The coronavirus pandemic has quickly thrust the world into recession as bars and restaurants shut down and countries instruct their citizens to hunker down. The question now is just how deep the pain will be, and how long it will last.

A picture of the economic devastation in North America and Europe has already started to emerge. A US government report published Thursday showed that 281,000 Americans filed for their first week of unemployment benefits last week — a sudden 33% jump over the week before and the largest percentage increase since 1992.

This week is expected to be much worse. Goldman Sachs predicts that a shocking 2.25 million Americans will have filed for their first week of unemployment benefits. That would be eight times the number of people who filed last week and the highest level on record.

Fears about joblessness on this scale could jolt markets again. Investors have priced in a recession by now, but may still be processing the size of the hole the coronavirus has blown into the global economy, Jeffrey Kleintop, chief global investment strategist at Charles Schwab, told me.

“The market is expecting bad data,” he said, but the jobs numbers may be “far worse” than investors think.

The Dow Jones Industrial Average is now down 35% from its all-time high in mid-February, erasing all its gains since President Donald Trump’s inauguration. Between January 20 and last Thursday, $27 trillion was wiped off global stocks, according to Bank of America.

And there’s still no nadir in sight, especially as dismal economic data from Europe and North America begins to roll in.

“[The market is] unlikely to bottom until we see the peak in new virus cases, and we just don’t know when that will be,” Kleintop said. “We don’t have anything for the market to hold onto to steady it.”

Fearful of devastating layoffs in the travel and hospitality industries, governments are taking radical steps to support businesses. The United Kingdom on Friday pledged to pay 80% of wages, up to £2,500 ($2,895) per month, for employees who can’t work because of the pandemic.

That could help: Economists are hopeful that such dramatic measures can ease some of the pain. Capital Economics believes that in the United Kingdom, unemployment will now rise from 4% to 6%, instead of to 8% as had been “previously feared.”

“Providing cash-strapped firms with generous subsidies to retain their staff will dramatically lower the risk of surging unemployment during the coronavirus recession,” Kallum Pickering, senior economist at Berenberg Bank, told clients Friday. And it “raises the chance that the economy can get back to normal quickly” once restrictions are lifted, he added.

The 30 days that brought the world to the brink of depression

Monday, February 17. The novel coronavirus outbreak is raging in China, but fewer than 1,000 people have been infected outside the country. With the virus out of sight and mostly out of mind, the Dow stands just shy of 30,000 points, driven by the longest US economic expansion in history.

What investors couldn’t know is that over the next 30 days, the coronavirus would burst out of quarantine in China, with major outbreaks in South Korea and Italy, then Spain, France, Germany, the United Kingdom and the United States. It brought business to a sudden stop, sent stock markets into a meltdown and forced central banks to take emergency action on a scale even greater than during the 2008 global financial crisis.

Where we stand: A global recession, once unthinkable in 2020, is now a foregone conclusion, and some experts warn that the pandemic could drag the world’s economy into a depression. And the coronavirus outbreak may just be getting started.

Central banks and governments have unleashed a tsunami of interest rate cuts, loan guarantees and new spending, tapping emergency powers to reassure investors, cushion the shock to companies and workers and preserve the foundations of a functioning economy for the future. Yet the rescue efforts may already be too late.

“In the worst case, entire industries could be destroyed,” the credit ratings agency Moody’s told clients on Friday.

Read the full story from my CNN Business colleague Charles Riley here.

Jesus Christ’s Offer of Salvation:

The ABCs of Salvation through Jesus Christ (the Lamb)

A. Admit/Acknowledge/Accept that you are sinner. Ask God’s forgiveness and repent of your sins.

. . . “For all have sinned, and come short of the glory of God.” (Romans 3:23).

. . . “As it is written, There is none righteous, no, not one.” (Romans 3:10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us.” (1 John 1:8).

B. Believe Jesus is Lord. Believe that Jesus Christ is who He claimed to be; that He was both fully God and fully man and that we are saved through His death, burial, and resurrection. Put your trust in Him as your only hope of salvation. Become a son or daughter of God by receiving Christ.

. . . “That whosoever believeth in him should not perish, but have eternal life. For God so loved the world, that he gave his only begotten Son, that whosoever believeth in him should not perish, but have everlasting life. For God sent not his son into the world to condemn the world; but that the world through him might be saved. (John 3:15-17). For whosoever shall call upon the name of the Lord shall be saved.” (Romans 10:13).

C. Call upon His name, Confess with your heart and with your lips that Jesus is your Lord and Savior.

. . . “That if thou shalt confess with thy mouth the Lord Jesus, and shalt believe in thine heart that God hath raised him from the dead, thou shalt be saved. For with the heart man believeth unto righteousness; and with the mouth confession is made unto salvation.” (Romans 10:9-10).

. . . “If we say that we have no sin, we deceive ourselves, and the truth is not in us. If we confess our sins, he is faithful and just to forgive us our sins, and to cleanse us from all unrighteousness. If we say that we have not sinned, we make him a liar, and his word is not in us.” (John 1:8-10).

. . . “And he is the propitiation for our sins: and not for ours only, but also for the sins of the whole world. (John 2:2).

. . . “In this was manifested the love of god toward us, because that God sent his only begotten Son into the world, that we might live through him. And we have seen and do testify that the Father sent the Son to be the Saviour of the world. Whosoever shall confess that Jesus is the Son of God, God dwelleth in him, and he in God.” (1 John 4:9, 14-15).

. . . “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.” (Romans 5:8-10).

. . . “For the wages of sin is death; but the gift of God is eternal life through Jesus Christ our Lord.” (Romans 6:23).

. . . “Jesus saith unto them, I am the way, the truth, and the life, no man cometh unto the Father, but by me.” (John 14:6).

. . . “For I am not ashamed of the gospel of Christ: for it is the power of God unto salvation to everyone that believeth.” (Romans 1:16).

. . . “Neither is there salvation in any other: for there is none other name under heaven given among men, whereby we must be saved.” (Acts: 4:12).

. . . “Who will have all men to be saved, and to come unto the knowledge of the truth for there is one God, and one mediator between God and men, the man Christ Jesus.” (1 Timothy 2:4-6).

. . . “For God did not appoint us to suffer wrath but to receive salvation through our Lord Jesus Christ.” (1 Thessalonians 5:9).

. . . “But as many as received him, to them gave the power to become the sons of God, even to them that believe on his name.” (John 1:12).

True Church / Bride of Christ Spared from God’s Wrath:

 Romans 5:8-10. “But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us. Much more then, being now justified by his blood, we shall be saved from wrath through him. For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.”

Romans 12:19Dearly beloved, avenge not yourselves, but rather give place unto wrath: for it is written, Vengeance is mine; I will repay, saith the Lord.

1 Thessalonians 1:10. And to wait for his Son from heaven, whom he raised from the dead, even Jesus, which delivered us from the wrath to come.

1 Thessalonians 5:9. For God hath not appointed us to wrath, but to obtain salvation by our Lord Jesus Christ,

Romans 8:35. Who shall separate us from the love of Christ? shall tribulation, or distress, or persecution, or famine, or nakedness, or peril, or sword?

Jeremiah 30:7. Alas! for that day is great, so that none is like it: it is even the time of Jacob’s trouble, but he shall be saved out of it.

Revelation 3:10 Because thou hast kept the word of my patience, I also will keep thee from the hour of temptation, which shall come upon all the world, to try them that dwell upon the earth.

Categories: Economic Collapse

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