The illusion of debt
For quite a few years I worked as an administration manager for a large manufacturing plant in Canberra. During that time we produced building materials for new homes, roof tiles, clay bricks and pavers.
Part of my responsibility entailed keeping an eye on our debtors, those who owed us money, to ensure that if there were a hint of insolvency we’d be in a position to act quickly and seek to recover any outstanding monies.
Sounds like a good theory but we were rarely if ever successful in achieving an advanced warning. The problem is that the banks are often the first ones to recognize there is a problem and by then it’s too late. You just have to join the queue with all the other debtors and cross your fingers that you’ll get paid.
I can recall on several occasions, some large and successful, well seemingly successful businesses, would be hard at work, building, buying, driving around in their company vehicles, doing business as normal and then bang. Overnight their creditors, the banks, would foreclose or freeze their accounts and we would be left standing with hands in pockets, somewhat surprised at the rapid transition from success to foreclosure.
I’m told that it was a little like this in the Days of the Weimar Republic when it came to hyperinflation. One day the supermarket shelves were full of food and the next they were empty.
I guess the thought that comes back to me is this. Debt allows a business or individual to present an outward appearance of affluence and prosperity, even success, yet behind the closed doors, where the truth lays, the reality is often quite different. You see, you could look at any one of those building companies and have no idea of the reality of their situation. It is part of the game that must be played, for as soon as the hand is shown, the game is up. A soon as people catch wind of reality, that all is not well with that particular builder, they will lose much needed sales and the game will be over anyway.
I’m not sure about Australia, it’s a little harder to get the facts, but as for the US, in my humble summation, she is trading whilst insolvent. Someone, somewhere in the not too distant future will make a decision, perhaps some of her creditor nations, the banks, realizing that the game is up. Then their hand will be laid on on the table for all to see, it will be game over.
All of this when from the outside she looked successful, prosperous and a good investment. But that’s all part of the illusion which debt provides.
For now, let’s keep talking and hoping this thing up, let’s allow the illusion to continue lest anyone catch wind of the reality. It seems to me that we are going to wind this thing up so far, that at the time that that bluff hand is shown, it will be like deflating of an overinflated balloon.
Bang !
John 6:27″Do not work for the food which perishes, but for the food which endures to eternal life, which the Son of Man will give to you, for on Him the Father, God, has set His seal.”
Thanks for the continued postings. It seems that Babylon does not have long now. How soon will it be before we are watching it on the TV. The great fall, Was it you who said the the fall of towers in the Bible always preceeded the fall of an empire?
Its certainly hotting up for this Autumn.
Come quickly Lord Jesus.
fugitive4him
September 14, 2009 at 9:52 pm
G’day fugitive, No t’was not I that made the comment regarding falling towers preceeding the fall of an empire, but there certainly is some good biblical evidence to support that kind of argument.
It continues to amaze me that the good ship US economy is still floating, given that men like Nobel prize winning economist Joseph Stiglitz has come out today and said the the financial system is in far worse condition now than it was when all of this began to unfold some 2 years ago.
One thing I am fairly sure of is that when it all finally collapses into a big heap, it will be very sudden…..
Cheers,
Tim
flee the wrath
September 15, 2009 at 1:42 pm
Tim,
Great Post! Working in construction I’be experienced these insolvencies first hand. They are so sudden, so complete, so permanent!
I’m not arguing that America does not deserve these plagues, she clearly does. This is developed in
http://thebigpicmin.wordpress.com/2009/06/07/is-america-babylon-the-great/
I still see that the city represents a religous orgainzation, and America is not a religous organization. I thing Babylon is the Protestant church,and her mother is the Catholic Church.
Make any Sense???
God Bless
Glenn
http://thebigpicmin.wordpress.com/category/pale-horse-doctrines/
thebigpicmin
September 17, 2009 at 4:31 pm
You know, I can’t help but think of America everytime I read Revelation 18. I mean, this insolvency which is essentially the Sword of Damocles over America’s well being, is evetually going to drop.
What you present here is very true. Almost all companies in America are only as good as the day they open their doors for business. They are almost all, without exception, in debt beyond any ability to pay should the note come due. Those rare companies that are solvent will suffer due to a collapsed market for their goods.
The economy is a false idol which many Christians worship and put faith in despite knowing better because their real God is their pocketbook and property. The basket is rotten and the bottom will fall out. The good will suffer with the bad, unfortunately. The judgment, however, is just and long in coming. “And the merchants of the earth weep and mourn for her, since no one buys their cargo anymore….”
ProdigalKnot
September 20, 2009 at 1:50 pm
Hi PK,
Indeed, the good will suffer with the bad. Not alot we can do about that.
On the bright side our “treasure in heaven” won’t suffer loss in this coming financial apocalypse.
Cheers,
Tim
flee the wrath
September 22, 2009 at 7:17 pm
Hi Tim,
Have you seen the most recent news, that the U.S. Federal Bank is considering loans from the more stable banks, just months after loaning billions in bail out money to the banks? What a mess.
I know that the United States isn’t my true home, that it’s just a place and can fall at any minute (and likely will, if this continues). But American pride doesn’t break easily. I still get teary-eyed when I hear the national anthem, and am proud of my parents and grandparents who fought for our freedoms. I continue to pray that God will use this time as a refining fire for our misguided country, rather than a destroying one. I hope you will pray for that, too.
Anna
annaldavis
September 25, 2009 at 3:34 am
Hi Anna,
I believe that the point you make is precisely why we are heading down this path, a refiners fire……The judgement of God is always redemptive for those whom He has called, and again what father does not chasten the son who is loved?
I think of that scripture, it is a fearful thing to fall into the hands of the living God.
In looking forward to the humbling of the mighty and the proud nation it is not that we delight to see the strong fall, but that in this coming time, Gods people will return to the simplicity of Christ, to their first love, to worship Him in truth, rather than bowing before the idols of Babylon and drawing nigh with their lips.
Anna, Australia is no different to America really, we are just a little brother to you guys. When the US falls, so will we, maybe it will take a little longer but you can be sure that God will allow this judgement to come upon His peoples as a refining fire, that we might “come out of her” before the day of the Lord.
In reading this blog I realise that one could be forgiven for presuming that I was anti American, this is not the case….If I am anti anything, it is Anti the Spirit of Babylon, the Spirit of this age, which prevails over our nations at this time.
Bless you Anna and thanks, indeed I do pray just as you do also.
Tim
flee the wrath
September 25, 2009 at 9:22 am
I love how you said that the “judgement of God is always redemptive for those whom He has called.” Just in my own personal life I am grateful for His discipline, to keep me on the path toward Christ.
I didn’t mean to accuse you of being anti-American. I think there’s a great deal of confusion over what it means to be American now. For those of us who do believe in the power of a free nation (and to some extent, capitalism), our slide into economic failure and possible socialism is a disturbing one. I agree with you completely that the spirit of Babylon is prevalent, and I just hope that God can remove this spirit from us without breaking our nation’s vision. But in a way I’m already mourning this great nation because I don’t know if our people will allow it.
I think that if any one of the superpowers fall, the whole world will also be greatly shaken. As you have said, everything is about being global now.
I appreciate your blog a lot, and your willingness to speak the truth when many want to ignore it.
Anna
annaldavis
September 26, 2009 at 12:02 am
Hi brother. I’m planning to link to this post in a few days. Some folks seem to understand what’s about to transpire in this land, but many seem to have no clue. The media outlets continuously talk about the current “recovery” so called and I hear people refer to the employment situation in terms of “when it gets better.” The illusion of continuance; the belief that this is just a cyclical downturn like all of the past cyclical downturns, is deeply embedded in the minds of many.
I truly believe that this nation is headed for a collapse. It has to. One cannot even wrap their mind around the amount of debt that permeates this country. The federal government is in debt to the tune of 13 trillion dollars. The state governments are broke, local municipalities are broke, and individual citizens are broke. If I remember correctly, the average American household has $15,000 of credit card debt and I know of folks who have much more.
Couple this with falling wages and the continual offshoring of jobs; both of which have a negative impact on economic activity and tax revenues thereby complicating the problem even further. And while we’re at it, throw in two wars that seem to have no end in sight and an administration that seems to have no problem with “creating money out of thin air” by continuously printing up more.
And I haven’t even touched on the spiritual condition of the land which is the primnary reason that the current economic conditions have developed. II Timothy chapter 3 is coming to pass before our eyes. These events; traumatic as they may be, shouldn’t cause panic on the part of the saints. In my case, such ponderings cause a renewed desire to draw close to the Lord Jesus and be about the issues that have eternal significance. It’s why I’ve been compelled to get into the streets at every opportunity to share the gospel while there’s still time.
Last fall, while in Kalamazoo for this purpose, it was dropped in my spirit: “everything here is going to pass away. Only the souls will remain forever.” It seems such a basic truth, (I mean, who can argue with it) and yet it’s so profound. A thousad years from now, Kalamazoo will be but a memory, however, everyone who does, or ever has, lived in Kalamazoo will be in their eternal abode.
Thanks for the post. Sorry for such a wandering comment. A lot of ponderings have been benerated by this.
Blessings always in Jesus name.
timbob
timbob
November 8, 2009 at 5:28 pm
Hi Timbob,
Haven’t been on the blogging journey for a little while, kinda busy with other things for now so appreciate your comments.
I just keep having a thought on this issue of the failing US/world economy, that it has been a long time in the making, seemingly slow in coming and in a sense, in this we have been granted a degree of grace to get our affairs in order.
I’ve been following the coming financial apocalypse for some 15 years. It seems obvious to me and many others now that this financial undoing has been progressing for many, many years, and as a result of prolonging the thing we fear most, we have made it all the worse.
However, we do serve an exceedingly graceful God and even in the midst of crisis His grace will abound unto salvation, for many.
Bless you,
Tim.
flee the wrath
November 9, 2009 at 7:52 pm
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