Hidden Debt Makes Governments Insolvent: Bear
As we prepare for the two-year anniversary of the March 9 lows for stock markets, investors are confronted with a number of worries that make it difficult to celebrate the near 100 percent jump in equities since then.
Oil prices are soaring off the back of unrest in the Middle East, there is talk of rate hikes from European Central Bank President Jean-Claude Trichet and unemployment remains stubbornly high despite some better news from the US on Friday.
On top of these, a mountain of debt is growing but because it is off governments’ balance sheets it has been so far ignored, one man who worries perhaps more than most, Albert Edwards from the global strategy team at Societe Generale, said.
One of the world’s most famous bears, Edwards is adamant the global economy and financial markets are not in a good place.
“The global economy is critically ill. The fact that it has just risen from its sick-bed to perform a frenetic Irish jig is more a function of the financial morphine and steroids that have been pumped into its emaciated body than any miracle cure,” he wrote in a recent piece of research.
“You don’t have to be Dr Doom to expect the patient to collapse back into a deep coma after the stimulus has worn off,” Edwards added.
From Chosen: End Times Truths Revealed, Published 2006:
“They will throw their silver into the streets, and their gold will seem like something filthy. Their silver and gold will be unable to save them in the day of the Lord’s wrath. They will not satisfy their appetites or fill their stomachs, for these were the stumbling blocks that brought about their iniquity.” Ezekiel 7:19 (HCSB)
“Their silver and their gold will not be able to rescue them on the day of the Lord’s wrath. The whole earth will be consumed by the fire of His jealousy. For He will make a complete, yes, a horrifying end of all the inhabitants of the earth.” Zephaniah 1:18 (HCSB)
The Cherubs are planning to bring about this prophecy in the near future. The process has already begun. The hourglass is about to run out. I was soon to see exactly how the Cherubs were bringing about this prophecy and it had to do with the weather. It was Satan’s inspiration to create a one-world currency. But too bad for him, the economy will collapse worldwide before they can get it off the ground. A Tsunami had already hit Indonesia and massive hurricanes Katrina and Rita had crashed into and demolished the shores of the US where major ports were located. Earthquakes were tumbling down major cities and there was volcanic activity in places nobody ever expected there to be. All of it was costing money. It takes money to rebuild, money to save the survivors, money to the poor and displaced. Gas prices soared and businesses were put out of commission for lengthy periods of time. It was all about money and it wasn’t just happening in the United States, but all over the world.