Re-Post: Rapture Ready-Nearing Midnight for March 6 (Part 1)

America's Financial Destiny

The U.S. national debt and trade deficit are simply out of control. I've been watching his slow-motion train wreck for some time now, and I'm stunned how the numbers are able to keep going from bad to worse.
Our national debt now stands at $8.27 trillion. The red ink has continued to increase an average of $2.17 billion per day, and our personal share of this debt is $27,688.
The trade deficit is an even bigger problem. Last month, the Commerce Department reported the goods and services deficit America has with the rest of the world widened in 2005 to a record $725.8 billion. The deficit for 2005 was up 17.5 percent from that of 2004, which had set a record of $617.6 billion.
What is particularly scary about these figures is how they've lost their meaning to the public and political leaders. We're fighting a war on terrorism so the national debt is of no importance. The average consumer could care less about maintaining a balance in trade. The price of an item is the only thing they worry about.
The people who manage the financial system have done an amazing job of servicing our debt. Every single working day, the world has to invest $2.8 billion in the United States to keep the system going. Of all the savings that exist in the world today, 80 percent of that amount is invested in America.
It's not madness that keeps the money flowing into our monetary black hole. Because the dollar is regarded to be the global reserve currency, nations use it to store wealth. As long as the buck remains stable, the world will keep buying up our debt.
The recent controversy over the port sale to the Arab company the United Arab Emirates is heavily connected to our trade deficits. Oil-rich Gulf states currently make $240 billion selling us petroleum productions. From a business sense, its only reasonable that they would take some of that money and purchase American assets. Last year, China caused a stir by trying to buy Unocal. It has over $700 billion in Treasury debt.
Because we have lived with huge deficits for so long, they seem to be viewed as a volcano that constantly rumbles, but never explodes. At some point, this exponential curve in debt accumulation will have reach a breaking point. The only questions are what will be the trigger and how hard will be the landing.
The most obvious trigger could be the fact that the world just simply runs out of money to service our debt. Other possibilities might be a geopolitical event such as China invading Taiwan, a spike in commodity prices, or the collapse of a major hedge fund.
One possibility that has been heavily talked the past couple months is Iran's plan to switch its oil trades from dollars to euros. By opening an oil Bourse priced in euros, the monopoly of the dollar on the global oil market will come to an end. The concern is that nations will dump dollars to convert to the euro. As of last report, there is no indication that Iran will be able pull off this stunt.
If the world were to lose confidence in the dollar, the first indication would be the exchange rate. Right now, the euro can buys 1.20 dollars.
It's anyone's guess how far the dollar would tumble after suffering a loss of confidence. It would be a case of panicked investors trying to dump U.S. securities pitched against central banks that would be trying to hold up the sagging greenback. With over $4 trillion of debt in foreign hands, there would be quite a spectacle.
Knowing how bad a dollar crash would affect our nation, it's always been my hope that this house of cards would hold together until the rapture takes place. Once millions of Christians are removed from the earth --- particularly from North America --- nothing can be done to save the U.S. economy from collapse. The Great Depression only caused a 10 percent decline in GDP. The rapture would likely be responsible for a 30 to 40 percent drop in GDP.
An economic implosion of our nation is almost required by Bible prophecy. During the tribulation hour, the focus is on Europe. America has no lead role in the end-times.
The realization of the precarious financial state of our world has helped keep me focused on the eternal realm. The riches of heaven are not based on a mountain of debt. God believes so strongly in being free of any obligations, He sent His Son to pay the ultimate debt with His own blood.
--Todd