Increasingly, we hear of areas of the United States that are turning to decriminalization of marijuana in an attempt to cut costs associated with law enforcement. Proponents claim that the money spent in the justice system is much greater than the cost of providing treatment to the addicts who currently need it, and that marijuana is not as much of a threat to public health and safety as other illegal drugs.
The clear truth is that these arguments have not held up in other countries that have decriminalized drugs, and is refuted by studies showing the dangers of these substances. Far from the harmless recreational perception that many have of marijuana, marijuana use has been shown to be highly carcinogenic, and damages both physical and mental health.
Legalizing drugs (such as marijuana) does not decrease prevalence of use. There are many examples in other countries that legalizing drugs such as marijuana does not decrease crime, and in the Netherlands, where its use is legal, the crime rate has increased dramatically since 1981. One study estimates that 80% of the property crime in a particular city is perpetuated by the 7,000 addicts in that city.
Legalizing Marijuana and other drugs only leads to more addicts and more crime—study after study supports this conclusion. Numerous studies back up what our Creator told us so many years ago, regarding drunkenness—a type of substance abuse:
“Woe to those who rise early in the morning, That they may follow intoxicating drink;
Who continue until night, till wine inflames them! The harp and the strings, The tambourine and flute, And wine are in their feasts; But they do not regard the work of the Lord, Nor consider the operation of His hands. Therefore my people have gone into captivity, Because they have no knowledge…” -Isaiah 5:11-13
Global central banks continue to cut interest rates in a desperate attempt to stimulate their economies. In Europe unemployment rates are rising at an alarming rate and Japan is fighting vigorously to defeat deflation.
As of late several countries have been cutting their interest rates and more are joining in. Israel just cut their Interest rates this week.
The following central banks have cut interest rates over the past few months: The Reserve bank of Australia, the European Central Bank, the Reserve Bank of India, the Bank of Japan, the Bank of England, Sri Lanka and Vietnam. Elsewhere in the world banking giant Morgan Stanley sees added interest rate cuts taking place in Poland, Turkey, Russia. Hungary and the Philippines. South Korea’s recent rate cute was the 511th reduction by a central bank since June 2007.
The dangerous is once the global stimulus takes hold inflation could rare its ugly head—and inflation is very difficult to control. Banks continue to cut rates because their economies are stagnating or getting worse. Lower interest rates boost the money supply, which should boost economic activity—but this has hardly worked so far.
Never before in modern history have so many banks eased credit so quickly. This is a new experience and we do not know how it will eventually turn out. Dallas Federal Reserve President Richard Fisher offered a disturbing assessment concerning cutting interest rates:
“Nobody really knows what will work to get the economy back on course. And nobody-in fact, no central bank anywhere on the planet-has the experience of successfully navigating a return home from the place in which we now find ourselves. No central bank-not, at least, the Federal Reserve-has ever been on this cruise before.”
The excessive printing of money by the world’s central banks may seem “to help” in the immediate future, but don’t be surprised to see eventual distortions arise in the global economy—unforeseen distortions that will cause harm. Eventually we will reap what we sow. Do not be deceived: God is not mocked, for whatever one sows, that will he also reap. Galatians 6:7.
Monitoring the global fiscal landscape is important because the final Beast power is a wealthy power.
So let me remind you…the economic shift over the next years will move more and more toward Europe—meaning Europe will ultimately become the great economic power of the world.
The final resurrection of the Roman Empire will encapsulate a religious, political and economic structure. This great economic system (of Europe) is “eulogized” in a lamentation found in Revelation 18:
“And he cried mightily with a strong voice, saying, Babylon the great is fallen, is fallen…. For all nations have drunk of the wine of the wrath of her fornication, and the kings of the earth have committed fornication with her, and the merchants of the earth are waxed rich through the abundance of her delicacies” (verses 2-3).
In this chapter the thrust of the lamentation focuses on the ability of the Beast to trade with the nations of the world. Those merchants will have become rich through the trade promoted by Babylon (European Beast–verse 15). Remember, Europe fits well the description of end time Babylon with its assorted cluster of Nations, languages, cultures and peoples.
The “merchants of the earth shall weep and mourn over her,” because their ability to trade their goods will suddenly end—Christ will destroy end-time Babylon (verse 11, 20-21).
The years ahead promise to be very volatile. The massive easing by the central banks of the world is something “new”—the outcome is unpredictable and fiscally dangerous.
According to the St. Louis Fed, U.S. unfunded liabilities are at least $55 trillion.
Rick Rule, Chairman of Sprott USA investment firm puts it this way: “In the U.S., we have almost $17 trillion in on-balance sheet liabilities, and almost $70 trillion in off-balance sheet, unfunded liabilities, like social security and Medicare… “We’re running deficits of $1.5 trillion each year — we’re borrowing half of that and printing the other half. Combine that with off-balance sheet liabilities, which are growing at almost $4 trillion per year, just at the federal level, and you can see where the problems are coming from. Trillion is a big number.”
Each American’s Share of Publicly Held Debt Is Skyrocketing
As Washington continues to spend dramatically more than it can afford, every American will be on the hook for increasing levels of debt. Without reining in spending, the amount of debt per citizen will skyrocket.
INFLATION-ADJUSTED DOLLARS (2012) From T. Elliot GAiser
How we pay off this debt is yet to be seen. Economists say either we allow “Deflationary” forces to solve the problem for us [meaning a depression]. Or we will be deceitful and inflate our way out of our debt obligations. Deflation or Inflation will have consequences—all we know is great financial pain is ahead of us. We will pay the “piper” one way- or the other, for our massive, relentless spending.
“Predicting” the short-term picture of what will happen in the world in terms of the economy is impossible. But Bible prophecy tells us that in the final days before Christ returns we will see a European union of Church and State that will promise great prosperity to those who yield to its leadership. Ezekiel 27 uses the figure of Tyre, the ancient city known for its worldwide trading prowess, as an example of the trading strength of this end-time European Beast power. Tyre was part of a major commercial empire that included the whole Mediterranean world.
A prophecy in Ezekiel 27:17 is dual [an ancient theme that plays out again in the end times], revealing at the time of the end Judah and Israel [modern America & Britain] will for a short time trade with this European power—a type of modern Tyre.
Eventually, we are told in Ezekiel 26, that latter-day “Tyre” at the time of Christ’s second coming, this Babylonian-Tyrian [modern European] system will be devastated, stripped bare and destroyed forever—never to rise again.
Europe is economically sick, all of the major world economies are sick, but soon Europe will dominate the world economically—it may seem hard to believe now, but it will happen in the near future—you need to keep your eye on Europe.