Proverbs 13:22 tells us that "a good man leaves an inheritance to his children's children." This proverb is telling us that because of caring foresight and disciplined use of a person's income, a moral person will exercise restraint in order to secure a good financial foundation for his posterity. But let me add to this:
Deuteronomy 28:43-44 The alien who is among you shall rise higher and higher above you, and you shall come down lower and lower. He shall lend to you, but you shall not lend to him; he shall be the head, and you shall be the tail.
This prophecy describes a penalty for sin in an economic circumstance that portrays a gradual descent of the Israelitish people from ruling over to bowing under, even to the point of enslavement to non-Israelitish people.
Let me add one more prophecy. It's a bit long, but listen carefully. It's one that we do not look at very frequently, but it is very pointed. It comes from Habakkuk 2:2-8. I may insert a couple of comments as we go along.
Habakkuk 2:2-8 Then the LORD answered me and said: “Write the vision and make it plain on tablets, that he may run who reads it. ["Run" meaning, "take action."] For the vision is yet for an appointed time; but at the end it will speak, and it will not lie. Though it tarries, wait for it; because it will surely come, it will not tarry. Behold the proud, his soul is not upright in him; but the just [this is a contrast] shall live by his faith. Indeed, because he transgresses by wine, he is a proud man, and he does not stay at home. Because he enlarges his desire as hell, and he is like death, and cannot be satisfied [what is God headed for here?], he gathers to himself all nations and heaps up for himself all peoples. Will not all these take up a proverb against him, and a taunting riddle against him, and say, 'Woe to him who increases what is not his—how long? And to him who loads himself with many pledges’? [Do you know what "pledges" are? They are IOUs.] Will not your creditors rise up suddenly? Will they not awaken who oppress you? And you will become their booty. Because you have plundered many nations, all the remnant of the people shall plunder you, because of men’s blood and the violence of the land and the city, and of all who dwell in it.
Let us think honestly about what is happening right now, especially in regard to the kind of future that we are leaving our children. Let us let us think of this in economic terms, since the economy and things like the so-called "stimulus plan," indebtedness and bankruptcy are so prevalent in today's news. Right now, our government is surely fascist and very quickly regressing towards socialism and communism. A very large portion of the government—and most especially the president—openly does not agree with the Constitution and the government established by the Founders of this nation.
The change promised by the president is to completely turn this nation on its head. He is going to strip this nation of its sovereignty and submit it to a new international order. It is going to be accomplished through a national bankruptcy that will leave us at the mercy of those who have the economic wealth and therefore the power to subjugate us. The current president is not really the cause. He is merely the instrument at the present time to actually carry it forward.
I thought as I was doing this about the comic strip "Pogo"—you know, the possum in the comic strip by that name. He said, "We have met the enemy and they is us."
God tells us, right in this series of prophecies in Deuteronomy 28, what the real cause is. It is idolatry, and most specifically in Habakkuk, he points to our desires, greed and rapacious violence, even to the point of plundering other nations. Please do not think that this plundering is only an American problem. In the past several hundred years, America, Britain, France, and the Netherlands have especially had a part in this.
How bad is the future that we are giving to our children? How far ahead is this national bankruptcy? I cannot predict when it will occur, but I cannot see it as being very far down the road. I am sure that some efforts will be made to forestall it, but I cannot see any of them being successful.
Glenn Beck, in his very recent book, "Common Sense," said at the time of it's writing that America's national debt is $11 trillion. Now we will just deal with the national death. But the private death in the United States is very close to equal to the national debt. That's $22 trillion. The interest payment alone to service the national debt is $26 billion a month. That's close to $300 billion per year, while paying nothing against the principal.
Most of that interest debt will be paid overseas. The money is flowing out like a fire hose. But because we are paying nothing on the principal, by 2019 the interest will have mounted to $806 billion per year.
Who's going to pay that debt? Rich corporations? That's who our president is saying he's going to get the money from. Rich corporations and the rich people in the United States.
Let's examine that for just a second. ExxonMobil earned $45.2 billion. General electric earned—this is profit—$17.4 billion. Walmart: $12.7 billion. IBM: $12.3 billion. Sounds really big, doesn't it? That only adds up to $87.6 billion if their profits were taxed totally. They would not be able to pay but one third of just the interest on the debt in one year, and it would bankrupt those corporations.
If America's total income tax revenues were collected for the next ten years—this is all the income tax from every American for ten years—it would not be able to pay off the $11 trillion, and it was not even pay one cent on the interest. Our children will be suffering modern day slavery, working only to pay America's debts.
And yet there is more, brethren. History's largest Ponzi scheme was not perpetrated by Bernie Madoff, but by the United States government. It's called Social Security and Medicare. Money contributed for Social Security since 1936 is supposed to be put in a trust fund and then distributed as needed. The trust fund has zero—not even any cents in it. It had a great deal of money for a while, but the politicians stripped it bare in order to pay present social programs already authorized by the government.
There is something in the trust: It's a huge stack of IOUs. Pledges. Do you know how much has already pledged? $13.6 trillion dollars. How about Medicare? Hang on to your hats. Parts A and B already have unfunded liabilities of $68 trillion. Combined, Social Security and Medicare have unfunded liabilities of $99.2 trillion to be met over the next few decades.
Five more banks failed this week, and brethren, we are now hearing of the possibility that by late August or September, the government will call for a bank holiday. The last one was in 1933, called by Franklin Delano Roosevelt, and out of that four day holiday, the United States' citizens were stripped of their gold. Gold was no longer part of our national currency, and the people were given fiat paper dollars in exchange—the ones that you are using today, that do not even have written on it "silver certificate" anymore. It's just a Federal Reserve note. There is nothing there except trust in America's ability to produce.
Brethren, if things continue as they are and where they headed, we are passing slavery onto our children. Isn't that a happy note?
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