On Thursday it was Reid warning Repubs to cooperate with the lame-duck agenda. Obama appears to be throwing what little presidential weight he has left behind Reid’s demand. Obama has “invited” Republican leaders and Democrat leaders to the White House on November 18 to pressure the GOP to support START in a lame-duck, and to “discuss” economic issues with them, according to a www.foxnews.comarticle on Thursday.
START is a nuclear weapons reduction “agreement” reached between Obama and Medvedev. It commits Russia and America to cutting their nuclear arsenal by 30 percent. And Russia reserved the right to pull out of it in the event that it gets too uncomfortable with the effectiveness of a revamped missile shield that the US is working to install in Romania. Here’s the kicker: statement was supposed to be issued that outlined the specific terms for withdrawal after Obama and Medvedev signed the treaty. Americans need to be screaming that the Republicans block this outrageous agreement.
As for the economy, it is likely not a coincidence that Obama plans to meet with Congressional leaders after he has met with the G-20 in South Korea this coming week. That meeting will have currency reform as its major topic, even as fears of a currency war seem to be escalating. Keep in mind that the UN has been pushing for a new world reserve currency that will replace the American dollar for a very long time. It likely won’t be helpful to Obama that the national unemployment rate is stubbornly remaining at 9.6 percent. Those who have an interest in Bible prophecy will recognize that currency reform is the precursor to a One World monetary system.
Another thing to keep in mind is that a www.ft.com article on October 18 stated that president of the Chicago Fed Charles Evans has described the US economy as “being in a bona fide liquidity trap.” To make matters even more interesting, a www.breitbart.com article in October noted that IMF head Dominique Strauss-Kahn said, “The spirit of cooperation must be maintained. Without that, the (global economic) recovery is in peril.”
According to the above mentioned Fox article, Obama still thinks that Americans want this Congress passing legislation – although he did acknowledge that he is aware that they want Washington to change direction. Whether he truly cares what America want remains to be seen.
Meanwhile, www.wsj.com is reporting that the price increase in food due to the recent wildfires and drought in Russia are now beginning to affect consumer prices on meat and wheat products. Other items which are seeing price hikes include sugar, vegetable oils, and dried beans. Another thing driving food prices up, according to a September www.guardian.co.uk article is that as the dotcom and housing bubbles burst, “large institutional investors moved into other markets, each traditionally considered more stable than the last. Strong similarities can be seen between the price behaviour of food commodities and other refuge values, such as gold” (emphasis added). In other words, it appears that there are many investors who feel that investing in food is at least as “safe” as investing in gold as a hedge against inflation.
According to The National Inflation Association, “The National Inflation Association today (Friday) announced the release of its report about NIA’s projections of future U.S. food price increases due to the massive monetary inflation being created by the Federal Reserve’s $600 billion quantitative easing. This report was written by NIA’s President Gerard Adams, who believes food inflation will take over in 2011 as America’s greatest crisis. According to Mr. Adams, making mortgage payments will soon be the last thing on the minds of all Americans. We currently have a currency crisis that could soon turn into hyperinflation and a complete societal collapse.”
The article goes on to give some details which seem unbelievable, but are certainly interesting:
“NIA projects that at the average U.S. grocery store it will soon cost $11.43 for one ear of corn, $23.05 for a 24 oz loaf of wheat bread, $62.21 for a 32 oz package of Domino Granulated Sugar, $24.31 for a 32 fl oz container of soy milk, $77.71 for a 11.30 oz container of Folgers Classic Roast Coffee, $45.71 for a 64 fl oz container of Minute Maid Orange Juice, and $15.50 for a Hershey’s Milk Chocolate 1.55 oz candy bar. NIA also projects that by the end of this decade, a plain white men’s cotton t-shirt at Wal-Mart will cost $55.57.”
If those numbers are accurate, we are fast heading in the direction of seeing the beginning of the fulfillment of Revelation chapter 6 verses 5-6: “When He opened the third seal, I heard the third living creature say, ‘Come and see.’ So I looked, and behold, a black horse, and he who sat on it had a pair of scales in his hand. And I heard a voice in the midst of the four living creatures saying, ‘A quart of wheat for a denarius, and three quarts of barley for a denarius; and do not harm the oil and the wine.’”
The black horse is symbolic of economic turmoil and the complications of inflation and scarcity.
Now we supposedly aren’t seeing hyper inflation yet, but financial analysts are saying that it is coming. A denarius was the typical daily wage earned. Your average bag of flour has about 4 quarts of flour in it. As for oil and wine, those were considered luxury items. So one could surmise that this coming economic disaster is going to do its greatest damage to the middle income families, likely creating a situation whereby there are only two classes of people – poor and elite. For anyone who doesn’t know Jesus as their personal Lord and Savior, now would be a good time to change that. All that’s required is coming before Him in prayer, apologizing for your sins, and simply asking Him to be the Lord of your life. Finding a good home church is a great way to continue to grow in that relationship.