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Omega Letter - Commentary Discussion

Debt Man Walking
Posted By: ShelleyMessenger
8/5/2011 9:47:46 AM

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Original Commentary Link
6 Shout AMEN!Amen ~ 7 PrayingPraying

Member Comments:

Thanks Ed,  Good commentary.

You wrote:

"Say, your credit card company kept raising your credit limit faster than your ability to pay it back. The more you spent the more impossible it became to make your minimum payment. Eventually you would realize that your spending must be cut back or your credit card company was going to do it for you. Since you need that credit card to live, you get real concerned about your relationship with credit That’s where our government is today."

Some people have had to use their credit card, for essentials; but most have lived high on the hog, buying what they couldn't afford. That being, houses the size of a small country, to (more than one) large screen TVs, and the list goes on. None of that was needed.

My parents (I am in my 50s) taught me what they learned from the great depression years;  Do a budget and only spend what you can afford. If you can't afford it now, save for it. 

When one puts the temptation to spend, with no worries (until you finally have to pay it back), it ends up, like we are today. The people who have done this, just like the government, figured that they had a blank check. Problem is, they can't pay it back.
(I always wondered what happened to the "Lay-a-way" programs, remember those?)

What good, is a huge house, and all the luxuries, when you can't afford to put food on the table. But; nobody had any foresight on that. Just keep charging.

There are so many programs, and so much waste, in the government.  If they had someone with some honesty, and knowledge (to do the hard decisions), they could at least decrease the spending; but; they just keep telling us lies. They don't want to do the hard work, because they want to be re-elected, to do more damage.

What you wrote here, is so true:

"But, when the world wakes up to this concept there is likely to be significant transfer of wealth to those that are prepared for it and a lot of others who will be starved of the lifestyle they currently enjoy."

I don't know how much longer we will be here; but one thing I do know, if I didn't have the Lord, I couldn't go on.

God Bless,
Shelley


Reply # 1 - ReplyTo ID: 7045


Posted By: LindaM -
Date: 8/5/2011 11:25:12 AM
7 Shout AMEN!Amen ~ 8 PrayingPraying

Comments:

Great article, Ed. Good comments from you, too, Shelley. (I have used K-Mart's lay-a-way plan in past times. Don't know if they still have it, but might, especially around the holidays.)

Thanks, Ed, for letting the "elephant" out of the bag. You make things quite clear. We can truly be thankful we have The Lord God Almighty as our GOD - Halleluyah!

Shalom!


Reply # 2 - ReplyTo ID: 7046


Posted By: Kerry -
Date: 8/5/2011 11:25:57 AM
7 Shout AMEN!Amen ~ 12 PrayingPraying

Comments: How can the person of average financial means prepare for this? I'm assuming getting out of personal (credit card) debt is a good thing. Buying gold just doesn't seem that helpful to me.
Reply # 3 - ReplyTo ID: 7047


Posted By: Noreene -
Date: 8/5/2011 12:47:36 PM
8 Shout AMEN!Amen ~ 7 PrayingPraying

Comments:

What a mess we are in!!  Thanks for telling us in a way we understand.


Reply # 4 - ReplyTo ID: 7048


Posted By: Greg S/CG -
Date: 8/5/2011 4:25:55 PM
8 Shout AMEN!Amen ~ 7 PrayingPraying

Comments: I don't think I truly understood exactly what it is you said here but I know it Skeeeered me.
Reply # 5 - ReplyTo ID: 7049


Posted By: GeneAksland -
Date: 8/7/2011 2:03:23 PM
8 Shout AMEN!Amen ~ 9 PrayingPraying

Comments: Hi Ed, I have copied out the sentences that I found most thought provoking in your analysis. "America now faces with its debt crisis. Our debt will continue to grow each year reaching about $20 trillion by 2020. What Congress just did was increase it. Consequently, weíre headed in the wrong, desperate, direction. Starting December 1950 our nationís private debt was $120 billion. Today it is $14 TRILLION, a 7.4% compound growth rate. Keep in mind that real GDP only grew 3.3% over this period. Not to be outdone, our Federal debt grew at 6.9% over the period so it too out-paced GDP growth. When credit growth outpaces GDP growth for a sustained period there will be an eventual reckoning. You can bet on it. Thatís why all the politicians, on both sides of the aisle, will be thrown out of Congress before this is over. Just for the record, thereís one final solution to consider. There are many who would suggest a debasing of the currency is necessary to make these adjustments. And, as Iíve said before this is what will happen Ė perhaps as early as this year." I think you are right in you over all assessment, The federal system has been feeding on it's self for a long time. Could this be the reason the USA does not appear in the End Time events? No money no power.
Reply # 6 - ReplyTo ID: 7051


Posted By: DeborahForster -
Date: 8/9/2011 4:44:31 PM
5 Shout AMEN!Amen ~ 9 PrayingPraying

Comments: Thank you Ed for keeping us in touch with reality. No one else seems to want to tell us the truth.
Reply # 7 - ReplyTo ID: 7053


Posted By: DanDapper -
Date: 8/10/2011 1:26:08 PM
7 Shout AMEN!Amen ~ 7 PrayingPraying

Comments:

And it's all happening according to Hussein Obama because of the "Tea Party". Boy, talk about how the Marxist left can twist the truth 180 degrees. Psychologist call it projecting, accuse your opponents of the very thing that you are doing. But we know the real reason this is all happening. Jesus' Word and His prophecy is pushing it all towards fulfillment. Thanks Ed, for the truth on this very soon coming financial meltdown!