False alarm...or coming Great Depression?

On October 7, 2008, we warned "American capitalism has failed. What next?"  But in his March 24, 2009 news conference, President Obama stated, "We will recover from this recession."  Which is true?

Before we answer these questions, let us quickly recap what is indisputable.

Tomorrow's World television and magazine have long warned according to Scripture that because our nations have rejected the true God of the Bible and His Laws and Holydays, the United States, Britain and other descendants of ancient Jacob will decline and eventually be subjugated by a resurgent European superpower. Our predecessor in this work, Mr. Herbert W. Armstrong, accurately warned of this as far back as the 1940s (December 1948 The Plain Truth Magazine,1960 "Who is the Beast" booklet, etc.).

Now, notice what Dr. Roderick Meredith wrote in the July-September, 1999 Tomorrow's World magazine, well before the 9/11 terrorist attacks and well before our current global economic meltdown!

"Things seem to be going along normally for most people. Although they hear about far-off bombings, earthquakes or storms, their daily lives remain largely unaffected. They are not shaken or terribly concerned about world events. The economy is humming along in good shape, so why worry about world affairs?

"All that is soon going to CHANGE!

"For in the lives of millions in formerly placid areas of America, Canada and Britain, things will never be the same. I tell you on the authority of the Living GOD that the lives of American and British-descended peoples around the world will experience a massive upheaval such as most have never dreamed!" ("A Turning Point in World Affairs").

As Jesus Christ warned, and as God's faithful servants continue to warn, our world faces near-annihilation, and only Christ's return will save us from complete destruction during the Great Tribulation (Matthew 24:21-31). Our nations continue to reject God, so we continue to careen toward destruction. And, while we know that Christ will return as a very real King to establish His wonderful and peaceful Kingdom (I Thessalonians 4:16, Revelation 11:15), it seems that before then, we are careening toward economic destruction…and much worse.

Government stimulus programs may yield momentary relief, but our economy and our very society is in mortal peril! Notice what former Secretary of the Treasury Paul O'Neill bluntly stated:

"Here's the fundamental problem: How much money can a society borrow before it begins to have negative effects on our ability to borrow any more?... When you get to the point that people won't loan you any more money as a government, you've got a horrendous problem...This financial crisis in retrospect will look like a child's game compared to what we're headed into when we have to begin raising enormous amounts of money through floating debt, or reneging on the obligations we made to people" (Frontline, "Ten Trillion and Counting", March 24, 2009).

Our government and our economic system have been permanently altered. American capitalism is failing, and our economy is failing. Understand Hosea 7:9–13. We have become old and weak and strangers are devouring our strength. We call to other nations for help instead of turning to God. God warns that our destruction is not far distant.

The U.S., Britain and our historic allies are heading toward times much worse than the Great Depression of the 1930s. A weakened "modern Jacob" will eventually be overwhelmed by a European superpower composed of a core group of 10 nations, which is now coalescing (Daniel 2:40, Jeremiah 30:7&8, Matthew 24:21).

Only Christ's return and the establishment of His kingdom on this earth will save our people and the entire world from complete destruction. Read Armageddon and Beyond and watch our recent telecast, Five Keys to Understanding Prophecy. Learn what is coming and what you can do now to reconcile with your Creator.