PTNews
June 2019
Published monthly
Published monthly
All Bible references are from the KJV
Examining Current Events in the Light of Bible Prophecy
The Looming Global
Financial Crisis
By Mike Wingfield
According to the Bible, when the end of this age comes, the global population will experience a horrific financial catastrophe. Shortly after the rapture of the church, and near the beginning of the time of the tribulation, the world will be engulfed in the grip of hyperinflation, meaning the value of currency will plummet and prices of goods will escalate. During this economic crisis a man’s daily wage will only buy two loaves of bread (Revelation 6:5-6). 
There are many parts of the world where this is already a reality. Several years ago, I visited Cairo, Egypt, home to a population of more than 12 million people. I learned that the average adult living in the Cairo area was struggling to survive on a couple of dollars of income per day. As a result, children were forced to work to help their family survive. Furthermore, the Egyptian government subsidized the cost of bread that was being sold on the streets. According to the Bible, this kind of financial madness will become a global reality near the beginning of the seven-year tribulation period.
Therefore, at some point in time, America and the rest of the world will be rapidly sinking in the quicksand of a deadly financial upheaval. It is only a matter of time before this occurs.
For the last several decades there have been many voices warning that a financial collapse of the U.S. economy is imminent. This warning is being voiced again, and some experts are saying it will happen this year. We cannot be sure when it will come. We do not know if it will happen before or after the Rapture. However, we do know that at some point in time, this will become a reality because the Bible predicts it will happen.
Without question, we are living at the time of the greatest debt bubble in the history of the world. The sad reality is that the U.S. is the leading culprit in this financial madness that is sweeping the world. In 1980, during the administration of President Ronald Reagan, America’s total government and personal debt was about $3 trillion. Now, this total debt is almost $42 trillion. That means that every household in America would need to pay $338,000.00 to pay off this debt. Obviously, that is not going to happen.
These massive debt figures above do not include U.S. corporate debt. Government, corporate, and personal debt in America is now at $73.8 trillion. However, this is not the total debt the American government has incurred. Some have calculated that America’s unfunded liabilities (pensions of government workers and military personnel, social security, Medicare and Medicaid, etc.) now stands at $210 trillion. That means that the true U.S. debt totals $283.8 trillion. The total national assets are valued at 136 trillion. Therefore, our government owes twice as much as America is worth! Most Americans do not grasp the threat this poses to our national security. We are already bankrupt as a nation. This debt madness is nothing more than financial national suicide! I highly recommend you take time look at the ongoing updated U.S. debt clock at https://usdebtclock.org/. This will blow your mind!
No other nation in all of history has accumulated this kind of debt. It is total madness. The sad reality is that when the American economy tanks, we will take the rest of the world with us because we are one of the world’s largest consumers. Since World War II, the global economy has been driven by the U.S dollar. Current events cast their shadow on the future and what we are seeing is uniquely setting the stage for the largest financial collapse in all of human history. We really cannot fathom the full impact this will have upon the global economy.
Furthermore, an examination of the personal debt records in America is staggering. According to the U.S. debt
clock, American personal debt is now $19.7 trillion. Americans owe $15.6 trillion on their mortgage debt and more than $1 trillion on their credit card debt. The growing number of Americans who are delinquent on their debt payments indicates we have reached a very dangerous point in the nation. Americans are drowning in debt. Seven million are delinquent on their auto loans and 37 million are failing to make credit card payments. When a greater number of Americans default on these loans it will wreak havoc on major financial institutions across the nation. This would likely trigger a domino effect that would bring the ultimate demise of the U.S. economy and set off a world-wide financial catastrophe.
Statistical data indicate that more than 78 percent of American households are living from paycheck to paycheck. This means that when the next major financial crisis strikes America, most people will not have any savings to help address an immediate emergency. The Bible exhorts us to not spend all of our income. It is always wise to save a little for the emergencies that come our way. Proverbs 21:20 says, “There is treasure to be desired and oil in the dwelling of the wise, but a foolish man spendeth it up.” Everyone should know that they will face some type of adversity in life. It Proverbs 24:10 states, “If thou faint in the day of adversity, thy strength is small.” The word “strength” in this context refers to financial strength (see verses 3-5). So, the Bible is exhorting us to be wise and prepare for the days of adversity that are coming. For the student of Bible prophecy, we know we are living in such a time. Therefore, our faith should guide us to act on God’s Word and prepare for these difficult times.
At the same time, we should honor another warning from God. The Bible teaches us to avoid interest and accumulating debt. Romans 13:8 says, “Owe no man anything.” Collecting interest from a believer or family member was forbidden under the Old Testament law (Deuteronomy 23:19). Debt should be avoided if possible. Proverbs 22:7 states, “The rich ruleth over the poor, and the borrower is [a slave] to the lender.” God does not want us to be chained to debt. We are to be His servant, not a slave to money. He wants us to be free to use His resources which He has entrusted to us to do His will. God never indented for us to waste His resources to meet our lavish and greedy desires.
According to the Bible, God is the owner and giver of all wealth (Ecclesiastes 5:18, 19). He entrusts His wealth to us so that we may enjoy it and invest it for His glory (Matthew 6:19, 20). Most Christians cannot give to God or help the poor because they have selfishly and foolishly overextended themselves financially to satisfy their prideful desires.
God expects us to obtain our wealth through hard work and smart investments (Proverbs 13:11). He does not want His children to have an entitlement mentality or to be lazy (Proverbs 26:13-15; Romans 12:11). The wealth God gives us is not just for our personal consumption (Luke 12:13-21). We need to have the faith of Moses. He chose the treasures of Christ rather than the riches of Egypt so that He might obey and serve God (Hebrews 11:24-26).
The Bible repeatedly warns us that material wealth can be a spiritual snare (1 Timothy 6:17-19). It can become an idol that consumes us to serve it. The love of materials things can keep us from reading and obeying the Bible (Mark 4:19). Money can become an idol or god that demands our worship and service (Matthew 6:24). The Bible gives us this solemn warning, “If riches increase, set not your heart upon them” (Psalm 62:10).
Jesus warned that it is difficult for a rich person to trust in Christ and be saved. He said, “It is easier for a camel to go through the eye of a needle than for a rich man to enter into the kingdom of God” (Matthew 19:24). 
Those who have material things may think they do not need God. From their finite, self-centered, earthly perspective, they have everything they need. Why do they need to trust God when they have their riches? Instead, they trust their riches rather than God. However, the Bible warns us to not trust in riches. Riches do not last forever (Proverbs 27:24). Proverbs 23:4, 5 gives us a very practical warning, “Labor not to be rich: cease from thine own wisdom. Wilt thou set thine eyes upon that which is not? For riches certainly make themselves wings; they fly away as an eagle toward heaven.”
America is drowning in covetousness. We are blatantly violating the 10th commandment, “Thou shalt not 
covet…” (Exodus 20:17). Americans are being driven by desire to have the material wealth that other Americans have. What they do not know is that most Americans cannot afford what they have. They are overextending themselves and drowning in credit card debt and other forms of debt. We are seeing an epidemic, people are seeking to keep up with their neighbor and they borrow money they do not have to own things they cannot afford, and do not really need.
Credit cards are a scheme of this godless system to tempt people with lust and covetousness. Most people do not have the discipline to used credit cards wisely. Most Americans do not realize that living from paycheck to paycheck and using credit cards to survive is a very dangerous game to play. If you are not careful, you will eventually pay more interest than principle on the item you purchased with the credit card. A recent USA Today article noted: “If a credit-card borrower only made the minimum payments on $5,000 of debt, for example, they’d be in debt for more than 18 years and would end up paying $6,372 in interest based on national average interest rates, according to Ted Rossman, industry analyst for CreditCards.com.”
History demonstrates that the accumulation of wealth without God is a recipe for sin and ultimate divine judgment. When people become wealthy, they tend to forget God. Instead, they immerse themselves in materialistic pleasures. In Deuteronomy 6:10-12, God gave this warning, “And it shall be, when the LORD thy God shall have brought thee into the land which he sware unto thy fathers, to Abraham, to Isaac, and to Jacob, to give thee great and goodly cities, which thou buildest not, And houses full of all good things which thou filledst not, and wells digged, which thou diggedst not, vineyards and olive trees, which thou plantedst not; when thou shalt have eaten and be full; Then beware lest thou forget the LORD which brought thee forth out of the land of Egypt, from the house of bondage.” Israel did not heed this warning. They forgot God and were eventually driven from the land.
The horrific judgment of fire that fell upon Sodom in the days of Abraham came about as a result of sins that included an abundance of wealth that caused them to turn away from God. In Ezekiel 16:49, 50, God gave the following indictment that caused the judgment to fall upon Sodom, “Behold, this was the iniquity of thy sister Sodom, pride, fullness of bread, and abundance of idleness was in her and in her daughters, neither did she strengthen the hand of the poor and needy. And they were haughty, and committed abomination before me: therefore I took them away as I saw good.”
According to James 5:1-6, mankind will heap “treasure together for the last days” (verse 3). In this text, James is rebuking the rich for living as if the coming of Jesus is not imminent. Obviously, if people believe they will soon stand before a holy God and be judged, they will not be focused upon the collection of material possessions that will soon pass away. James warns them that their wealth will not help them when the day of God’s judgment comes. Their gold and silver will be worthless.
In light of many prophetic Scriptures, the rich who are left behind to enter the tribulation will suffer great loss. Their wealth, luxuries, comforts, and conveniences will suddenly be ripped away from them. At the onset of the tribulation, the Antichrist will conduct a campaign of global wars and terrorism that will trigger a major financial collapse (Revelation 6:5, 6). Then, there will be catastrophic natural disasters around the globe (Revelation 6:1-17; 8:7-9). This will be followed by an asteroid that will explode upon impact when it enters earth’s atmosphere (Revelation 8:10, 11). This judgment will bring death and destruction to sea creatures and ships. Great darkness will cover one-third of earth’s sky, probably as a result of a massive collection of volcanic ash in the atmosphere. Consequently, man’s modern way of living will be wiped away and financial conditions will worsen. 
We cannot begin to imagine how this will impact the financial systems of our world. It will shut down and destroy all of our utility systems. It will disrupt the flow of food and manufactured goods to our supply chains. As the apostle Paul warned in 1 Thessalonians 5:3, “sudden destruction [will come] upon them, as travail upon a woman with child; and they shall not escape.”
No one will escape the brunt of the financial catastrophe that the tribulation will bring. Read Isaiah 24. This chapter describes in great detail the global destruction that will come upon the earth during the tribulation. All citizens of earth, regardless of their financial capabilities, will be devastated by the global natural disasters (verse 2). Isaiah 24:3 says, “the land shall be utterly emptied and utterly spoiled [robbed of its wealth]…” People will not be able to turn to entertainment or music to sooth their fears (7, 8).
Friends, this message is very troubling. It troubles the mind to think about what is coming upon this earth. For those of us who are believers, we must remember that we should be looking for the Lord Jesus to come and take us home to be with Him at any moment. Most of the future troubles we have addressed in this article will not take place until after we leave this earth in the rapture. The Lord has promised His church that He will deliver us “from the wrath to come” (1 Thessalonians 1:10). He has promised us, “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” (Revelation 3:10).
If you are saved, you must tell others about what is coming upon this earth. It is our obligation to warn them. God called Noah not to only build an ark, but to warn his generation of the deadly global flood that was coming upon his generation. We must share the gospel with everyone around us. There is only one way they can escape what is coming. Jesus is the only way of salvation from the fires of hell and the judgments of the tribulation. Jesus declared, “I am the way, the truth, and the life: no man cometh unto the Father but by me” (John 14:6). 
Friend, if you have not repented of your sin and surrendered your life to the Lord Jesus, please do so now. Why not call out to Him to save you? He is your only hope. He lived a perfect, sinless life and became God’s perfect sacrifice for the sins of the world.
As we wait for and anticipate our Lord’s return, we cannot be sure that we won’t suffer some of the consequences of inevitable collapse of the American economy. We need to pray that we might imitate the hope of Job. Job lost everything he had in a very short time. Yet, Job did not turn away from the Lord. He said, “Naked came I out of my mother’s womb, and naked shall I return thither: the LORD gave, and the LORD hath taken away; blessed be the name of the LORD” (Job 1:21). We need to remember the exhortation in 1 Timothy 6:6-8, “But godliness with contentment is great gain. For we brought nothing into this world, and it is certain we can carry nothing out. And having food and [clothing] let us be therewith content.”
Wealth cannot buy us salvation or joy. The Bible says, “Better is little with the fear of the LORD than great treasure and trouble therewith” (Proverb 15:16). Despite the claims of those who espouse the prosperity gospel, the Lord has not promised us an easy and prosperous lifestyle. He said, “In the world ye shall have tribulation: but be of good cheer; I have overcome the world” (John 16:33).
Real peace does not come from living in a peaceful environment. Real peace comes from knowing and abiding in the Prince of Peace. Many men and women have died a cruel death with a smile on their face because their eyes were fixed upon Jesus. “Thou wilt keep him in perfect peace, whose mind is stayed on thee: because he trusteth in thee” (Isaiah 26:3).
Make preparations now for the coming financial storm. No matter how bad it might be, He will always be with us. Nothing else really matters!
Earthquakes Rock Israel
All of the residents of Israel felt an earthquake on May 15. It was the fifth earthquake to hit Israel in the last year. These quakes are reminding Israelis that a big one is coming. The Jordan Valley, just 15 miles east of Jerusalem is a part of the Syrian-African Rift Valley. This valley stretches from Africa through the Red Sea, up through the Arava Desert, through the Dead Sea and Sea of Galilee, and up to Turkey. It is one of the most dangerous earthquake fault zones in the world. According to geological records, this area is overdue for a major earthquake. According to the prophetic Scriptures, several of these earthquakes will take place during the events of the last days. Once again, this reminds us that we are living in unique times. The signs of the end of this age are all around us. 
The Bible- Israel’s Deed to the Land
Recently, Israeli UN Ambassador, Danny Danon, addressed the UN Security Council, using the Bible to validate the Jewish peoples’ claim to the land of Israel. The International Embassy in Jerusalem released the following quote from his address: “Israel’s Ambassador to the United Nations Danny Danon addressed the Security Council on Monday [April 29, 2019] in New York, telling them among other things that Israel’s existence derives legitimacy from four things, including the Bible, history, legality and the pursuit of international peace and security. ‘This is our deed to our land,’ he said, pointing to a Bible. ‘From the book of Genesis; to the Jewish exodus from Egypt; to receiving the Torah on Mount Sinai; to the gates of Canaan; and to the realization of God’s covenant in the Holy Land of Israel; the Bible paints a consistent picture. The entire history of our people, and our connection to Eretz Yisrael, begins right here.’
“The Quran itself accepts the divine deed of the Jewish people to the Land of Israel,” he continued. “Even the Romans themselves admitted the land was ours. Those of you who have visited Rome may have seen that Emperor Titus famously commemorated his victory and the Jewish expulsion by building an enormous arch on the Via Sacra in Rome. If you look at the Arch, it includes an illustration of his men carrying away the menorah from the Jewish Temple. (But) the Romans attempted to destroy that link by renaming the land Palestina. This is how the narrow strip of land in Eretz Yisrael, nestled between Egypt in the south and Lebanon in the north, came to be called ‘Palestine.’ For two millennia, Jews across the world continued to pray three times every day for our long-awaited return home to Zion and Jerusalem. As we just said on Passover last week, as we do every year, ‘Next year in Jerusalem!'” (News brief from The International Christian Embassy in Jerusalem, April 30, 2019)
UN Consistently Opposes Israel
Have you ever wondered why the United Nations continually focuses upon the little nation of Israel? The UN rejects Israel, opposes Israel, and takes every opportunity to unjustly condemn Israel. Why?
If you examine the voting record of the 193 nations in the UN, you will discover that the communist/socialist block of nations always join with the Islamic nations to vote against the United States and Israel. Susan Michaels of the International Christian Embassy writes, “The Non-Aligned Movement (NAM), whose original purpose was within the context of the Cold War, now has 120 member nations who control every corner of the United Nations except for the UN Security Council. NAM is an umbrella for the Organization of Islamic Cooperation (OIC). Fifty-seven member states are affiliated with the OIC and twenty-two of those states are members of the Arab League. This is a significant voting bloc in the United Nations.” (News brief from International Christian Embassy, May 18, 2019)
According to the Bible, when the end of this age comes, all nations will be against the Jewish nation of Israel. In preparation for the final battle, Armageddon, God said, “For I will gather all nations against Jerusalem to battle…” (Zechariah 14:2). The world is preparing for their battle with God!