I have already discussed various aspects of the fiscal cliff from the view point of biblical prophecy. I am not very good at computers (as you may have noticed by looking at the construction of this site), so I am unable to make nice graphs and data tables. Otherwise I would make a graph of the growth of the amount of outstanding US Treasury debt issuance, so that you can see how it resembles a mountain — the sides get steeper and steeper the higher you go. From 2008 to 2012, the first 4 years of the Obama administration, this debt increased by over 50%, going from $10 trillion in 9/30/2008 to $15.2 trillion at the present time. In 9/30/2000 the outstanding debt was ‘only’ $5.3 trillion.
Since the breaking of the US housing bubble, the Financial Crisis of 2008, and the European government debt crisis, the global economy has now entered perhaps its final bubble — the Debt Bubble. As central banks across the world all have pushed down their interest rates to extremely low levels in response to the zero interest rate policy in the US, and as Bernanke and the US Fed intentionally push for a continued increase in borrowing, the growth in global debt has spiked to new heights. By year end, I will add another section to document this bubble and how it may tie in with the ascension of the Beast.
For the sake of Believers in America, I believe it is crucial to break this borrowing bubble now. Obama will not remove Bernanke, so the only way to pop the debt bubble is to stop the US federal government from borrowing so much. One way is to have Congress stop raising the permissible debt ceiling every time it is hit. The other way is for Congress to impose budget austerity, to stop the balloon from getting any bigger — which means the imposition of the ‘fiscal cliff’. America’s economic growth is just like Greece’s — it is artificial and totally dependent on the government borrowing from the future to spend now. By stopping this unprecedented growth in debt now, then America will only enter into a recession. If this debt bubble is allowed to continue to expand, then when it bursts, the economic chaos could be so great that it will mean that America too will fall under the dominion of the Beast. Stopping this must be in the forefront of the minds of every Believer in America.
The Beast will rise, posing as the Messiah to the children of Abraham, and any Believer trapped in his dominion will indeed be tested by fire. Pray and work for an America free from the coming Beast.