The ‘Fuse’ has been lit, …5 …4 …3 …2 … IMF says Economic Collapse Will be Even Worse than Feared… Second Great Depression? 140,000 (7+7) Businesses on YELP Still Closed. Worldwide Economic ‘KABOOM’!!! Global forecasted decline at five (5) %. Imagine that, go ‘figure.’
June 25, 2020 by IWB
The International Monetary Fund on Wednesday painted a bleak portrait of the global economy, saying the coronavirus pandemic has caused more widespread damage than expected and will be followed by a sluggish recovery.
The global economy will shrink this year by 5.0%, worse than the 3% decline predicted in April, the IMF said.
No major economy is escaping the pandemic. The U.S. economy, the world’s largest, is expected to shrink this year by 8%. Countries that use the single European currency are headed for a decline of more than 10% while Japanese output will fall by 6.0%, the IMF said.
The American economy is reopening. In Alabama, gyms are back in business. In Georgia, restaurants are seating customers again. In Texas, the bars are packed. And in Vermont, the stay-at-home order has been lifted. People are still frightened. Americans are still dying. But the next, queasy phase of the coronavirus pandemic is upon us. And it seems likely that the financial nadir, the point at which the economy stops collapsing and begins growing again, has passed.
What will the recovery look like? At this fraught moment, no one knows enough about consumer sentiment and government ordinances and business failures and stimulus packages and the spread of the disease to make solid predictions about the future. The Trump administration and some bullish financial forecasters are arguing that we will end up with a strong, V-shaped rebound, with economic activity surging right back to where it was in no time. Others are betting on a longer, slower, U-shaped turnaround, with the pain extending for a year or three. Still others are sketching out a kind of flaccid check mark, its long tail sagging torpid into the future.
Excitement about reopening aside, that third and most miserable course is the one we appear to be on. The country will rebound, as things reopen. The bounce will seem remarkable, given how big the drop was: Retail sales rose 18 percent in May, and the economy added 2.5 million jobs. But absent dramatic policy action, a pandemic depression is possible: the Congressional Budget Office anticipates that the American economy will generate $8 trillion less in economic activity over the next decade than it projected just a few months ago, and that a full recovery might not take hold until the 2030s.
Yelp also found a surging interest in supporting black-owned businesses amid racial-equality activism following the killing of George Floyd.
Roughly 140,000 Yelp-listed businesses that had closed since March 1 remained closed on June 15. A large minority of that set, 41%, has shut for good, according to Yelp.
The figures have improved by about 20% compared with April data, when 175,000 businesses were closed. But the large share of persistent closures, which were spread nationwide, showed the pandemic’s stubborn hindrance to life as normal even as all 50 states have taken steps to reopen.
(Night Watchman Discernment; ‘What’ will happen to economies, around the world, mortgage and consumer debt payments and tax collections, when in the ‘twinkling of an eye’ millions of ‘consumers’ just ‘disappear.’?)
In His Service,
Night Watchman Ministries
Make Your Decision for Christ NOW!!!!!!! Time is Up!!!!!!!
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 12:19. Dearly 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