Thursday, July 21, 2016

Irreversible Global Collapse Has Already Started Because of Too Much Debt

In the past, I have made three assertions about life today. One, our entire world is dominated by a single Global Technological System (GTS). Two, this GTS is dominated by Satan and is the most effective instrument of his Kingdom of Power ever constructed. Three, this GTS is collapsing with unimaginably destructive consequences for all societies, cultures, personalities, and creation.
The New Testament witnesses to Jesus unanimously speak of Satan as the ruler of this world (which includes today’s GTS). They speak this way even though they also affirm that Jesus, through his crucifixion and resurrection, decisively defeated Satan and doomed him and his minions to destruction. The current collapse of the GTS demonstrates the truth they spoke. The GTS expressed Satan’s will for power and all our human lies, illusions, and indifference that supported him. Furthermore, this collapse will end in the widespread destruction, debilitation, and death which Satan always seeks.
This collapse, however, is very difficult for us to affirm for many reasons. One, as Olympian worshipers of Jupiter, god of politics (Christians included), we find it difficult to believe that our government would allow such a collapse to happen, would fail to inform us of it, and would prove incapable of saving us from it. Two, such a catastrophic collapse is also outside of living memory. Three, as Olympian worshipers of Vulcan, god of technology, as well as of Pluto, god of money, we find it impossible to believe that devoting ourselves to technology and money would end in such agony. One reason for this impossibility to anticipate such agony: corporate media never report on this unfolding collapse and we take TV news as our normative source of truth rather than the Bible.
To assure you, however, that I’m not vainly imagining the unfolding collapse of the GTS, I want to share with you a simple summary of an essay, “Waiting for Collapse: USA Debt Bombs Bursting,” by William Edstrom (published on on September 23, 2015). All statistics and direct quotes in this essay are from that article.
Outstanding debt (as of September 2015): US government, $46 trillion; US corporations, $15 trillion plus an unimaginable $315 trillion in derivatives; and US individuals, $13 trillion. The amount of money involved is so unimaginably abstract that we human beings simply can’t meaningfully comprehend it.

The bankruptcies of Detroit and Puerto Rico are only the beginning of what will be an unending tidal wave of collapses. “1 out of 25 states are ready to collapse within months, as are 1 out of 20 US cities, 1 out of 15 US government authorities and 1 out of 7 US corporations. Within a few years, many US cities, counties, authorities, states and corporations will have debt collapsed, before the USA as a nation debt collapses. A tsunami of debt collapses is hitting the USA. The causes are government officials and corporate executives who borrowed too much easy money plus Wall Street bankers and hedge fund vultures who lent too much easy money.”
Cities most likely to collapse first: “Atlantic City NJ, Chicago IL, Newark NJ and Paterson NJ.” Next (in likely chronological order): Philadelphia PA, Poughkeepsie NY, Baltimore MD, Erie PA, Houston TX, New Orleans LA, Yonkers NY, Buffalo NY, Los Angeles CA, Orlando FL, Phoenix AZ, Pittsburgh PA, Providence RI, Toledo OH, and Washington DC.
States likely to go bankrupt (in likely chronological order): Illinois, New Jersey, Arizona, California, Kentucky, Michigan, Alabama, Arkansas, Colorado, Connecticut, Hawaii, Louisiana, Maine, Mississippi, Montana, Nevada, New Hampshire, New York, Pennsylvania, Rhode Island, West Virginia, and Wisconsin.
One consequence of all this excitement is the increasingly likelihood that other states, beginning with Texas, will secede from the Union.
Schools, school districts, and universities will also go bankrupt. Consequences may include many more students in each class, parents needing to buy all books and transport their children to and from school, teachers having to accept pay cuts and losing their pensions, and a sharp decline in the already deteriorating quality of American education.
How many Christian high schools, colleges, universities, and seminaries will soon go bankrupt because our leaders got caught up in the same delusions of grandeur, fueled by easy money from Pluto, that their Olympian counterparts did?
Hospitals will go bankrupt. Consequences: fewer hospitals, more deaths as a result of not being able to get to a distant Emergency Room (ER) in time, longer waiting in the ER before treatment for those who do make it, and an inability to respond effectively to any public health emergency (like an epidemic). The rate of hospital bankruptcies will increase if Medicare is turned into a voucher system and cuts continue in Medicaid.
Other governmental authorities to see increasing bankruptcies include those responsible for sewage and transportation.
“Hundreds of thousands of corporations in the USA borrowed too much money and they will experience debt collapses in the months to come.”
If Valeant Pharmaceuticals does, thousands more will be unemployed. In addition, who will then manufacture the drugs that Valeant currently has exclusive control of? Or will those dependent on them simply have to do without and die? Shortages of critical drugs already grow increasingly common. How many have already died because of this?
Hard times have hit the oil and gas industry since prices unexpectedly tumbled in June 2014 from about $115 per barrel to today’s $48 per barrel—a decline of almost 60%. This means unemployment for hundreds of thousands of people with good-paying jobs as well as more than $1 trillion in debt that won’t get repaid. In one way, though, this may be a blessing in disguise. “Hydrofracking pumps billions of liters of toxic carcinogenic fracking fluid into the ground in the USA each year, which will result in millions of additional Americans in the USA getting cancer in coming decades; how will Medicare and Medicaid pay for millions of additional Americans with cancer?”
Retailers heading for bankruptcy include A & P Supermarkets, Albertsons, Haggen Grocery Stores, Party City, Toys R Us, JC Penney, Radio Shack, Rite Aid, and Sears. Millions of Americans will lose their jobs because top executives irresponsibly borrowed too much money and then, honoring Pluto, greedily spent too much of it on their own salaries and bonuses.
Even banks, including some long considered too big to fail, will go bankrupt. Again, millions of Americans will become unemployed when failure hits big banks like Bank of America, Citibank, and Goldman Sachs.
Soon enough, the US government will no longer be able to borrow money. What then? Pensions and healthcare will disappear. Utilities like water and electricity will be rationed and much more expensive when they are available. Emergency response will be too long delayed. Wages will fall for those who still work. Elites will snap up, at bargain prices, “anything of value like airports, seaports, utilities, highways, mines and factories.” “Foreclosures, crime, poverty, homelessness, misery and desolation are mushrooming up in post debt collapse parts of the USA.”
It is Jesus Christ, and Jesus Christ alone, who has created a Kingdom of Freedom and invites each and every human being to participate in it. In vital contrast to Satan’s Kingdom of Power, Jesus Christ promises and delivers truth rather than falsehood, freedom rather than slavery, love rather than indifference and violence, and life rather than destruction, debilitation, and death to those who become cooperative friends with him. Doing so won’t allow us to stop the collapse that’s started. Jesus will, however, enable us to share his light, love, and life with others even as it occurs.

Copyright © 2016 by Steven Farsaci.
All rights reserved. Fair use encouraged.