#2907: On the Brink of Economic Armageddon

0:00The Trumpet Daily Program begins right now. Today's world news, what it means, where it's tickets. I blame you to one and only possible, not being a boy or a thief. This is a message of hope, tremendous hope. And he said, and to me, you must promise I again. The Trumpet Daily Program begins right now. And Mr. Trump also spoke about the Federal Reserve's decision to raise interest rates for the first time since 2023. Yesterday, the Central Bank hiked them by a quarter of a percentage point as you see on your screen. As the war with Iran drives up energy prices and inflation. Here's what the President had to say about it. For the hottest country anywhere in the world, we're all that anybody talks about. The only problem we have is that interest rates are artificially high. Interest rates in the United States should be 1% or less, because we are the best credit in the world by far with all that money pouring in.

1:07And yesterday, vice president J.D. Vance delivered a midterm message to Americans while appearing on the all-end podcast. Don't give power to the people who cause the problems that we're fixing. Give us another chance or give us another couple of years to continue to work on the amazing things that we've been doing for the past two years. And here's the bigger problem. The U.S. just crossed a sobering milestone. $40 trillion in debt. So the question now is whether Washington can keep borrowing at this pace without the bond market pushing back. If the economy is so great, why are we running a $2 trillion deficit this year? If the economy is so great, why can't we reduce the interest that we're paying on our debt? Which is, we'll be, we're on track this year, two months left in the fiscal year, $1.4 trillion in interest on the debt. Ten years ago, national debt was under 20 trillion. That figure has surged over the past decade with spikes during the COVID-19 pandemic.

2:11In the last three year, in the last year alone, it grew by three trillion, despite president Trump's promises to bring spending under control. According to the Peter G. Petersen Foundation, which monitors U.S. national debt, that new figure, 40 trillion, equates to almost $120,000 of debt for every person in the world. Every person in the United States. Just the sort of uncertainty about the U.S. and how stable it's going to be going forward. And part of that is certainly the large amount of debt and the world moving away from holding treasuries. Now, the world's central banks, governments are holding gold more often than they're holding U.S. treasuries. That is a major shift in terms of the way that the world operates. Now, they might bring temporary relief. They might keep interest rates down for a while. But the fundamental growth in debt underlying the U.S. economy means that that pressure remains and it's very likely to burst. And one of the frightening parts of this is the U.S. government via the treasuries might be able to hold yields down for a while.

3:15But eventually, it will have to give up and it will be like a damn bursting in the bond market. Well, if that damn burst, what happens? It's financial crisis time all over again because the U.S. government bond issuance sits at the heart of the debt market globally. It is the benchmark. And if the benchmark blows up, every market blows up with it. What kind of chance do you think there is of that happening? I mean, the U.S. government is not going to let that happen. The U.S. government can't stop it from happening. And this is the big problem with the current U.S. government. I believe they can control everything. That they somehow have a magic wand that allows them to defeat economic fundamentals. It does not. They might be able to delay it, but they can't defeat it. But the developments this week make it much more likely that the next financial crisis when it better derives will start in the U.S. bond market. So many world shaking shifts going on as you heard there in that cold open. We've had on the docket over the last eight or ten days.

4:17And we just haven't been able to get to them. You put them all together though and you see what's coming. You should. You should see what's coming. What did Mr. Armstrong say that would trigger that final formation of the Holoroman Empire? He said it would be an economic collapse. And that's what we're getting closer and closer to. You're listening to Stephen Flurry. This is the trumpet daily. We appreciate you joining us on today's show. You can get to the live video stream of this program at our website, the trumpet.com, or the rumble channel, the YouTube channel. If you go to the channels, make sure that you leave us some comments. At least at rumble, I think you can do it there, but maybe not at YouTube. In any event, we enjoy your feedback. You can email the show, TD, at the trumpet.com. So, as I say, some of these clips, some of these stories have been stacking up. And we got the news yesterday, the Federal Reserve raising interest rates by a quarter.

5:20And President Trump not being happy with that. I guess they're up to whatever it is. 3.75 to 4% now. And the Trump administration wants them to be lower. He wants it to be down at 100%, or sorry, 1% because we're so hot. You know, all this money, all trillions of dollars are flowing into the United States. Everybody's talking about America. Everybody's talking about America's economy. But you heard a more sobering forecast in that opening montage. Listen to this from Fox Business. This is clip 6. President Trump reacting tonight, writing, quote, interest rates in the United States should be 1% or less, because we are the best credit in the world by far. Our country is booming with new investment. If we stop trading with every country that we have a deficit with, which is most of them, we would make at least one and a half trillion dollars a year. The word deficit is nothing more than a fancy word for loss.

6:20We are carrying almost every country in the world, and that cannot go on any longer. Lower the interest rates for the United States of America and fast. The best credit in the world by far, and here we are paying interest on the debt to the tune of 1.5 trillion per year. The federal debt's now up to 40 trillion. You heard in the opening montage that 10 years ago was 20 trillion. So how much longer can this go on? It's not sustainable. Anybody with the brain and who's honest should be able to figure that out. You can't run your personal and family finances that way. Otherwise you go bankrupt. People are already pulling out of treasuries, and they're going to gold. They're going to cryptocurrency. What does this mean for the United States?

7:21I can remember Tim Thompson, the late Tim Thompson, so many years and years he was saying as soon as the world loses faith in the Almighty Dollar, that's it. It's lights out. No other country in the world has the leeway that we have because the dollar is the dominant force. As far as currencies go. But what happens when that stops? Other countries that the world isn't relying on for reserve currency, they can't just spend trillions and trillions. They can't just make it up. Well, they can. And then they can turn into Zimbabwe where the dollar is worth nothing, or the currency is worth zero. This is where we're headed. Bloomberg has this piece. In the last four years, foreign investors are saying, by gold, by bitcoin,

8:21debt crisis is looming. Billionaire Ray Dalio said investors should reduce their bond holdings and put up as much as 15% of their money in gold to hedge against the risk of a U.S. debt crisis that he wares could could be just 3 years away. Where will we be? three years from now as I was saying in class this morning. If you, you know, and we're into it daily because of this program and my mind, I guess, was more on it on the Feast of Trumpets as you go through the Olivet Prophecy and everything that Jesus said that we can expect right before the return of Christ. But how it's worth thinking about how close we are to the end of this age, how quickly the collapse could happen. And we need to be watching and praying as never before that we might be worthy to escape what's coming. That's what Jesus warned in the

9:21Olivet Prophecy. And so many people are still just in total darkness. And you hear statements like from President Trump and you think, well, the party's just going to go on forever. We're hot. Everybody loves us. Everybody loves our dollar, our economy. They love our credit. Everything's great. It isn't. Sorry. Without a change, of course, a US debt crisis could arrive in three years, give or take to said, Dahlio. That's, that's not a good sign. I mean, that's coming from a big influencer, a billionaire who has been spot on with previous forecasts. This is from a show called Breaking Points, clip number 13. With the power of the United States now reduced, we're entering into territory, which is very dangerous, you know, Japan territory where it's roughly 110 percent, you know, debt

10:22to GDP ratio. Like these are exactly the places that you don't want to be if you're not a global superpower. And we've always been able to avoid the pitfalls of the eurozone crisis or the Japanese crisis because of our reserve status, because obviously the, you great United States military and power projection, as that all begins to fade, that will also have immense impact in our ability to trade, to compel nations. We're going to talk a lot about this with Iran, this latest, I'll just mention it for now. Trump is like, any economy, which does business with Iran is hereby sanctioned China's like, yeah, that's cute. We don't care. What are you going to do? He's like, what are you going to do to us that you haven't already done? You hit us with tariffs, we hit you back. Our banking system is totally, you know, proofed, US proofed after what we saw happen with Russia. I've mentioned previously the Scott Vessent comment where he said, you know, go ahead and test me. In other words, we know what we're doing. We can prop up currencies. We can demolish them if we need to. Trump has said, you know, we could stop trading with all of these countries

11:28where we have a deficit in the trading balance and make trillions and trillions. What if, what if we did this? We could do this. This is from NBC News on, again, the concerns over the federal deficit or rather the debt clip number 16. The economy reaches an unsettling new milestone. The US debt hitting $40 trillion for the first time as President Trump continues to face economic headwinds just months before the midterm elections. All while he threatens what he's calling economic warfare at an unprecedented scale on Iran as that war continues to drive up energy prices. The debt has exploded over several administrations. Look, the 40 trillion is a big number. It is smaller when we look at the publicly traded amount because our Social Security funds and other government entities hold a substantial

12:28amount. And what we're going to do, we're going to have to grow our way out of this. And remember, we did not get here in a day that we were left with a mess. The Biden administration had the highest deficit to GDP in history when we weren't at war or weren't in a recession. For 2025, we brought it down by more than a percent. Wow, a percent. One percent. That's what constitutes success, I guess. At least he's there saying, look, it was terrible. What we inherited. And then then for NBC's part, Kristen Welker, you know, it's nice to hear about this now. While Trump is in office, where was that reporting? Very sober. Oh, we crossed a milestone. This is not good. This is not good. And we're coming up to the midterms. There was none of that zero during the auto-pin years. None of that during the Obama years. I mean, they just spend wildly. That's no problem. And then, and then a Republican

13:31gets in there and you know the drill. Then let's, let's gang tackle him. Well, like I've said, it's the problem is on both sides of the aisle. We've got to grow our way out of this. That's Joe Biden. That's Barack Obama. That's Donald Trump. That's the way they think. That's why they're all in on AI. We've got to put trillions and trillions into artificial intelligence as long as we win the race against China. Then we're going to just have trillions and trillions and trillions of dollars to spare. Meanwhile, the cost for diesel, the cost for groceries, maybe you bring it down 1%. But whatever happened to doge, how about that? Whatever happened to getting rid of government waste, wasteful spending? The, the, the Elon Musk came in there and created just a tiny, tiny, tiny, little dent,

14:35kind of like a scratch on the door of your car. And that's it. It's over. You're gone. We, we're just continuing down this road to financial demolition, economic armageddon. Economic armageddon. And no one's sounding the alarm. Well, that number sounds big. Yeah, that's right. 40 trillion. That's big. And, and adding it, doubling it in 10 years. What other country has, has done this? And, and how could it survive? If, if any other country did this, doubling the debt in 10 years. The Wall Street Journal, it says here, Treasuries along the world's preferred safe that has safe and, in quotes. It's typically been viewed as safe. They're looking less safe relative to other securities. Their yields are no longer quite so low. And in moments of stress, they

15:39don't behave like a haven. The main reason for this is that since the pandemic, the US has flooded the market with additional debt reaching $40 trillion. Since COVID, COVID remember was weaponized to take out Trump. And now here we are six years later. What did we say in the summer of 2020? Well, we said the cure was worse than the disease. So there you go. Tomorrow's news today. The trumpet, the trumpet dot com. The cure is destroying us. It's destroying our economy. It's destroying our government. It'll destroy our nations. Treasury debt has long enjoyed a unique status globally. It's backed by the unparalleled economic and financial strength of the United States. Too big to fail. It's impossible.

16:45There's no way America could fail. We're too big. We're too powerful. How far is that kind of reasoning going to get you? How far will that mindset take you? We're just so great. We're just so powerful. We can do whatever we want. You heard it in the cold open. What's the problem with the United States? What was that guy's statement? They believe, speaking of America, they believe they can control everything. What? Yeah, that's right. Well, pride comes before the fall. They believe they can control everything and they somehow have a magic wand that allows them to defeat economic fundamentals. Poof, it's gone. Treasuries don't just fund the US government. They are where investors and governments like to park extra cash. For example, to defend their currencies. They are used to price,

17:46hedge and collateralize countless transactions in unrelated markets. This is from that Wall Street Journal piece. Listen to this clip from Fox Business about the debt, clip 17. No, I don't think so because like I said, our country is doing so well despite interest rates. We have interest rates that are artificial. They're actually artificially high. They raise them for no reason. And you can't go out to the market when you have a Fed that's raising interest. You can't say I want to pay three points less than what the Fed says you're supposed to be paying. So no, I don't think so at all. I think we have a very powerful country and we're powering through these ridiculous interest rates. Now that was a week or two ago. That little exchange. The reporter asking, should Americans be concerned about this volatility in the bond market? No, of course not. And by the way, interest rates should go lower. You know why? You know why they think this? They want it down at 1% because they want you to borrow. They want you to borrow money

18:55at lower interest rate. The incentive needs to be there so that you can borrow. Everyone can borrow. Companies can borrow. The US government can borrow. Everyone can borrow their way to utopia. Do you think that's based on the wisdom of the Bible, the holy Bible? The Bible says the borrower is a servant or a slave to the lender. That's the truth. And nobody will say it because, well, the Bible, who reads the Bible for economics? Who's going to turn to the holy Bible for sound wisdom when it comes to finances? Only God's church. Only God's church will do that. This is the Wall Street Journal piece. It says these benefits became especially apparent in the wake of the global financial crisis. US borrowing soared. Yet yields fail or fell. The reason private

20:02borrowing collapsed and securities once thought safe, such as triple a rated mortgages turned out to be safe. This led to what Ricardo Caballero, an economist at the Massachusetts Institute of Technology, dubbed the Safe Asset Shortage as investors demand for super safe assets collided with a finite supply yields plummeted. There's a lot about this, just like with artificial intelligence. You get in there, I was talking to one of our ministers up in Canada, about just, you get in there, you try to figure it out and your brain explodes. It's so complicated. There's no simplicity to the approach, the strategy. There's a simplicity in Christ. It's so beautiful. It's so straightforward. You know, we're studying the autobiography of Herbert Armstrong in class and there's just such a beautiful simplicity in that book as well.

21:08So many lessons to take away, not least of which is the fact that he was just a man of action. He took the initiative. He showed some ambition. He was a doer. And look at how God prospered that work, by the way. We played a clip. It was a deposition of Bernie Schnippert in 2002, some 20 some years ago. And he was mocking the approach that Mr. Armstrong took. And think of the work of God at the time of Mr. Armstrong's death. This sprawling empire, this worldwide work. And you know, he didn't charge for the literature just like we don't. He sent, he sent materials out freely. Millions and millions and millions of pieces of literature every single year. And Schnippert was just, but yeah, he demanded tithing. So people would come into the church and they would start paying tithes because they had to. He was such an authoritarian.

22:14And our lawyer, our lawyer was smart enough to say, well, no one forces you to tithe. You make that decision, don't you? To contribute? Well, yeah, I guess so. And then now you charge for your literature. Now this was again back in 2002 and he said, yeah, we do. Well, whatever happened to your religious empire, whatever happened to the worldwide church of God as it was gifted to you in 1986 when Mr. Armstrong died, whatever happened to Ambassador College, whatever happened to the plain truth, the magazine, what happened to the good news magazine, what happened to the youth magazine, what happened to the World Tomorrow TV program? If you're so brilliant, if you're such a brilliant economist, why couldn't you sustain the work or grow the work even? No, just destroy it. They destroyed it. They were sons of destruction.

23:18And we've talked about how that those worldwide church of God officials, they went woke before our nations went woke. And they also dabbled in a little bit of economic desolation and destruction before our nations got there. Not again, back in the 1980s, you know, we were adding to the debt even during the Reagan years. But how do you, how do you get from where we were, let's say, in the 1980s? As a nation now, I'm talking about the United States of America. When the debt, I think it finally crossed what one trillion during that time, and now we're at 40 trillion, really, how does this happen? Is this the sign of stability and security? Politico has a piece. Why Europe can't escape the fallout from 40 trillion dollars of US debt.

24:22It's affecting, it's affecting everyone. The ripple effect, it's leading to economic chaos and crisis just as Mr. Armstrong forecasted, just as he said. The US government's 40 trillion debt pile is rapidly becoming everybody's problem. Government borrowing costs around the world have leaped to their highest and years in recent days, reflecting fears that war, demographic decline, and the imponderable consequences of technological change are all stretching Washington's finances to breaking point. So many problems, so many troubles. Listen to this, it was like a 10-minute segment from Jesse Waters last night about artificial intelligence and how the radical left is trying to scare Manga its way to victory at the ballot box saying that we need government to regulate all of

25:25this artificial intelligence technology. You know, and he made some good points, but at the same time, like I said yesterday, you got the one side saying it's going to destroy everyone, and then the other side, no, it's great, I've got it in my, I've got clawed on my phone. How is that going to kill anybody? And people don't even look at the spiritual dimension or the mental dimension. How is this affecting our children or school or study or research? Mr. Armstrong in his autobiography says that education comes from study, from books, from lectures, from thinking, from travel, from experience. And so what happens when artificial intelligence replaces so much of that? It's not good, it's not good, but nobody's going to give you the truth. It's always a political battle, that's what it amounts to.

26:27If the radical left says this, we say this. If they say this, the radical left says this. It's a derangement. It's not, it's not objective. It's not balanced. It's all fake. Just like the fishing with Jake Tapper and Gavin Newsom. And here they're out there, you know, they're fly fishing and they're talking about running for election or whatever. And then someone takes a picture of the big production alongside the river. Here are these guys standing in the river in their slacks. And there's a full wardrobe, a makeup artist, all the camera men, the photographers. It's totally fake. It's staged. And you've got one of the most prominent politicians in America and one of those prominent broadcasters, at least from the radical left. It's a perfect illustration of everything that's wrong with this world. It's all fake. The economy, it's propped up on fakery and phoniness.

27:32The money's not worth anything. It's monopoly money at this point. The prophecies of God say there's coming a time when they're just going to throw the even, even silver and gold coins into the street because those will be worthless. So are we prepared for this? Are we ready? Are you going to be worthy? Worthy to escape what's coming? If I were you, I would run, run back to God. If you've drifted apart from Him, if you've drifted far from God, run back into His arms, run back into the Father's love, let the Father guide you. Let the Father guide your finances. Let the Father, God the Father guide your marriage, your family, your life. Bring God into the middle and you'll be blessed.

28:34The the political piece. And again, all of these outlets have it in for Trump. I understand that. A Christian walker has an infertum. I understand that. This political piece says that's spilling over into financial markets in Europe too because European governments have to compete with Washington for the global pool of savings. It's all based on the spirit of competition. That's Satan's world. That's the way it is in this world. compete. On the one hand, everything's great. On the other hand, if the world doesn't treat us good, says the Trump people, well, we'll just stop trading with them and then we'll make trillions. Germany's 10-year borrowing costs, which set the tone for the rest of Europe, hit the highest since 2011, even in Germany. After fears of inflation and a widening US budget deficit drove the benchmark US 30-year

29:37treasury bond yield. It says compounding the problem was the news that the US government's debt has now topped $40 trillion. As I say, these are stories that are a little bit old. It's from a couple. That's another point. It passes $40 trillion. It makes it to political the next day, and then that's it. It's over. There's something new to talk about. As a result, many EU governments are likely to face extra pressure for tax increases or spending cuts, even as they try to boost spending on defense. When they return from their summer breaks to plan their budgets for next year, it just makes me think of that that pritchard piece from yesterday at the telegraph. Well, we're heading into some dark times this winter. How fast could everything unravel? How fast could the economies of this world crash? This article says most countries in

30:43Europe have accumulated huge debts in the last 20 years with periodic crises such as the pandemic or the 2008 financial crisis amplifying a steady, long-term deterioration in public finances due to rising health and pension obligations. It's not sustainable. It's all going to blow up. And then what will emerge out of the economic ruin, out of economic catastrophe? Well, then it's a free for all. Then it's every man doing what's the every nation, doing what seems right. The stage is being set. It certainly is. It says here bonds that cost next to nothing to issue 10 years ago now have to be refinanced at rates much closer to historically normal levels. It says, this front, well, I don't want to get too far into the weeds here, but you get the idea. I hope where we're headed? What's coming? Listen to this from Deutschewelle News, clip 20.

31:47Yes, we can clearly support the financing of this debt. We are a very rich country and all projections suggest that we will remain a rich country. So we can pay the interest on this. We clearly, over any reasonable planning horizon, are in no danger of defaulting, unless our politicians choose to. It would be a choice. We are a rich country that can pay this interest without too much of a burden. At some point, we will push interest rates into such levels and reduce private investment in the US to such levels that it will start putting strains on our economy. That's nowhere in the planning horizon. There's no reason why this is an urgent crisis. It is simply year after year making us poorer than we need to be. How's that for sounding the alarm?

32:55You know, she's an American observer or a commentator and she's on Deutschewelle. What do you think your typical ordinary German thinks of that? Yeah, there's no reason to be concerned. This is not urgent. Forty trillion, it's like, bests it. Forty trillion may sound like a big number, but listen, we're growing our way out of this. We're too powerful, we're too big, we're too strong, we're too prosperous. The world is watching and they are ready and prepared to pull the plug on the United States. As soon as they get everything they can out of the America centric system, then that's it. It's lights out. That's what we don't see coming. We just think, well, it's going to be a party forever. It's never going to end. It is going to end. All of this, you know, we're coming up to the Feast of Tabernacles, which pictures the wonderful world tomorrow.

33:58I gave a sermon many years ago on the economy of God's world, how that it's based on the tithing system. Yes, tithing, Mr. Schnipper, 10%, a 10% flat tax, you could say. Well, that seems pretty generous on the part of the government of God. Well, the way God sees it, he owns everything. Mr. Armstrong brought this out in his tithing writings and he's just expecting 10% from what we're out there earning in his world using his resources. What are we at now when you add federal, state, local, county, taxes, property taxes, taxes on fuel, taxes on whatever else? What is the typical ordinary German or American or Brit? What are they

34:59paying in taxes every year? And these people that would scoff at God's system of tithing, 40, 50, some countries 60, 70%, and still it doesn't cover anything. Really? Why are we spending an extra two and a half trillion every year in the United States? The government, I mean. The whole system's based on the way of competition and greed and fighting and division. It's based on the way of get. And it's coming to desolation and ruin. And probably sooner than we realize, listen to this one from MS now, clip 21. Quite frankly, there's no interest in Washington or in the White House to address the debt and which being driven by provocative spending and a bunch

36:03of tax cuts as well. Do you know what's amazing to me? The fact that Washington has no interest in addressing the debt months before President Trump won, I saw Scott Pesson speak in an event and he was practically foaming at the mouth of why we needed to elect a Republican because our debt and deficit crisis was so disastrous. It was putting the future of our country at risk. And now here he is as our Treasury Secretary. And it's like we're pretending that debt burden is no big deal. Yeah, where was that report four years ago or during the Obama years? Well, she's right. They're turning out to be hypocrites. She's right. They're all flawed. They're all like little children. When it comes to managing finances, the system is broke and nobody wants to fix it. In 2018, President Trump said, I'm the king of debt. It's not like this is a surprise. I want interest rates

37:08lower so that more people can go into debt. That's the way of this world. Listen to this one from Fox Business on the federal debt. In anticipation of Daygan saying the world is coming to an end, or we can't we're being crowded out of the bond market because of AI and lots of debt and deficits forever. I went back and looked at a long term chart just put out of it of the 30. So we're about where we were. I want to say 2003. 2003. We're way above what we were in 2007. But if you look at a long term chart, it's not freakish-oiled level. Now, that being said, the trend is not good. It's obviously yields are spiking. There's going to be crowding out. It's going to cost the US government more. The bigger picture, Charlie said, he went back and looked that these yields don't look bad. But historically, then, it'll crazy.

38:08Well, what does look bad is the fact that we're $40 trillion in debt. We have a record amount of interest that we're already paying on that debt. And it's, you know, it's $118 billion in on average every month and that 68% of all the individual income taxes in just one month go to that's how much how much income tax revenue required. Just to yeah, I've just said that. Let me just finish about the situation the US government is in is dire. And the issue is bond investors have to decide is this loan to the US government going to lose me money. And the answer based on history at a 5.3%. That's not a good bet.

39:09Doesn't look good. Looking at the history, looking at the numbers, looking at the crises we see all over the world. We wrote an article back in 2018 on the King of debt. This was in response to a comment that President Trump had made. He loves debt. He propped up his his real estate empire by borrowing lots and lots of money. And so you can look at that and think, well, it worked. It must have worked. The article that we wrote at the trumpet. The United States is exploding its debt in a way never seen in its history. This was before COVID, by the way. This was 2018. The nation has amassed large debts before in times of war or recession. But generally, it's paid much of its debt back after the nation recovered. America is going into debt at an unprecedented rate.

40:13But what's even more alarming is that its leadership does not acknowledge that this is even a problem. You see that today. You saw it in 2018. And you see it today. Bash. Sure. The numbers, it's a big number, 40 trillion. But listen, we got AI. We've got Silicon Valley. We've got America's economy is hot. Everybody loves it. Everybody wants it to prosper. This article says when Donald Trump was campaigning for the presidency in 2016, he bragged about how much he was able to prosper because of debt. This is embedded into his thinking. It's in his DNA. That's why he wants interest rates lower. I'm speaking about his personal businesses. He told CNN on May 4th, 2016, I'm the King of debt. I love debt. Does God love debt? Does God love deficit spending?

41:21Fundamentally, the old correspondence lessons bring this out. But fundamentally, fundamentally, what drives the desire and the action to spend money on something that you don't have the money to buy is lust. You can't wait. You've got to get it now. Now, I'm not going to stand here and suggest that all borrowing is wrong. The Bible even addresses that and how to pay back debts and that sort of thing. But we are so far removed from anything biblical. It's just run up the debt. Interest rates keep increasing. The banks keep getting more money for loaning you the money. Everybody gets. They get what they want. And they get it now. They get it fast. There's no self-control. There's no discipline. There's no planning. There, just like I said with government programs, there's never any will to dial it back,

42:32to cut spending, to cut costs. I've got a whole nother section on just out of control spending and waste. Here again, we had doge in place. And Elon Musk looked like he had the chops to do something. But, you know, they undercut him. They got rid of him. They had a falling out and it happened within months. Here we were having all the, you know how excited I was. All these revelations, even these young kids that were getting in there looking at the book saying, this is ridiculous. This is going off to nothing. This is going off to some political activist group. This is going off to foreign immigrants. And taxpayers are funding it. What there are a lot of responsibilities that an elected official has, obviously. But there aren't too many that are more important than taking your money.

43:33And using it, spending it wisely, making sure it really produces. Where is that spirit in Washington? You don't see it. There's no oversight. Here we're trying to get all regulated up for AI, but we can't even control our finances. Spend trillions on AI and then regulate it. And make sure that the artificial intelligence creators, make sure that they're given immunity. Nobody can ever come after them. Nobody can ever bring a lawsuit against it. Just like the big pharma, they get a complete pass. They can do whatever they want. They have unlimited spending. And all of it, well, it's going to save our economy. I don't have confidence in this system. God's system is sure.

44:34God's system is secure. The deep dark secret, this is at the trumpet.com, is Republicans like to spend money just as much as Democrats, said California Democrat Republican, Jim Costa. They just want to spend it on something different. That is absolutely right. They may have different, different items they want to spend the money on. But they all want to spend the money. They all want out of control spending. They all make campaign promises to spend your money and then some on their constituents. In the night, sorry, this is in the 1800s, when St. Churchill's father said, the first and most vital interest of the nation is finance. This is a national security issue, for sure.

45:37What happens when a nation goes bankrupt, when a nation can't afford to pay the interest on its debt, when a nation can't afford to pay for its military power? What happens when a nation can't pay back its debts? What do other nations do? What will other nations do? Upon finance, this is Randolph Churchill, everything connected with government hinges, good finance ensures good government and national prosperity. Bad finance is the cause of inefficient government and national depression. We're already at the point of inefficiency. Depression is coming. Economic collapse is coming. Catastrophe is coming. Psalm 37 and verse 21. It says, the wicked boroughs and cannot pay back, but the righteous is generous, generous, and gives.

46:44So we think that because we're generous with money by printing it, making it worthless, and throwing it to the wind, we think we're righteous. In fact, we're wicked because we're borrowing, we're stealing, we're taking money from our grandchildren, from their generation. As a nation, we've dug ourselves into a pit from which we will not escape purely because of selfishness, greed, selfishness, and greed. There's another passage here. I think there was a verse in that article. I think it's talking about Deuteronomy 28, where it says in verse 44, that we would fall into debt, the nations of Israel, and become a servant to the lender. That's where we are, for sure.

47:45And then you think about all of the other crises going on in the world. Victor Davis Hanson, he was on recently talking about an October surprise, financed, supported by Iran, America's enemy, America's at war with Iran. And again, we're not even into October yet. The midterm elections are the first week in November. Here are all these stories about economic ruin. What happened? And we're at a relatively calm time. There is the war with Iran, but outside of that, you know, my point is, what happens when there's another COVID level, another COVID level catastrophe that we then have to spend trillions more on? This was Victor Davis Hanson talking about Iran, preparing for another October surprise, clip 7.

48:49We're about 50 days out from the midterms, and everybody seems to have a October surprise. What's the situation on the ground and around? One of the big surprises is we don't know, because this is the first really major engagement where there are no Western journalists allowed into Iran. There are no U.S. ground troops. There are no embedded reporters. The Mossad maybe has agents on the ground, but they're not publicizing that fact. And Iranians who sporadically call people in the West on their cell phones are hunted down. So a lot of it is subjective conjecture. But I think it's pretty clear that Iran is planning, as it is now sporadically, but planning a October surprise near the midterms. Their entire strategy has been to delay, negotiate,

49:56attack, delay, negotiate, attack. And the purpose was to a, drive up the price of oil through that in uncertainty, especially in hitting ships in the straight of our moves, and b, get closer and closer and closer to the midterms. The strategy, as he says there, to delay, it's really so embarrassing that we're being played this way. I don't know for sure if there's going to be an October surprise, but as he goes on and explains, they clearly would prefer to have Democrats in power. Look at how Obama, the dear leader, appeased them. Here they had this uprising against the government in Iran and the dear leaders sided with the mullahs. So they'd love to see Democrats gain control of the House and the Senate possibly. But certainly the House, because then the impeachment proceedings can begin and President Trump can be distracted with that. Listen to clip eight.

51:02They want the Democrats to win. Why the Democrats? They remember in 2009, a million of them went out in the street to overthrow the regime. Barack Obama newly inaugurated didn't do anything. He just kept mute for about 12 days. Why? Because he was going to negotiate with a theocracy about their nuclear program. And he wanted to reboot Iran as part of a rival to Democratic Israel and the moderate Gulf regimes. He thought by empowering the Shia crescent in Iran, in Syria, in Beirut, on the West Bank, and then Gaza, he could have creative tension. And he would be the adjudicator. America's enemy sure loved Obama, because they could milk the United States for everything that they could, and Obama would be quite happy. President Trump comes in and he wants it to be more fair with respect to NATO

52:07dues or whatever, trade imbalances. So he's he's orange Hitler. He must be resisted. They love it when an American president just gives them everything that they want. What a system. The world system of economy or whatever. Here's one more from VDH, clip nine. Around and the Democrats have the same goal. Create chaos that they have the same goal and that's to defeat Donald Trump. The Democrats want the Iranians to create chaos, drag out the war, and therefore drive down public opinion and raise the price of gas. That's clear. They've all but said that. They've got a strategy. They've got a plan. And you know, so does China, so does Russia, so does Germany. The strongman's not there. He's not in place yet. There certainly is plenty of uncertainty in the world, but there are strong men. There

53:11is a prince of Russia. There is a communist China enemy of the United States. There's the radical left. It's a world filled with trouble. What happens when some of these troubles, some of these wildfires flare up? What kind of a burden will that put on the world economy or America's economy? One final from VDH, clip 10. Bottom line is we should look then sometime between October 15th and November 3rd. I would imagine that the Iranian regime will send a huge barrage of missiles into the Gulf States. They will not touch Israel because Israel will reply in a manner that is unthinkable. But they will think they can damage the reputation and the competency of the Trump administration right on the eve of the midterms. Lots of massive shifts

54:14as you heard in the cold open today, happening in the world today. Earth shaking developments, plenty to keep our eyes on for sure. Watch and pray always as Jesus said in the Olivet prophecy that you may be accounted worthy to escape. That's all we have time for on today's show, the fastest moving hour in broadcasting. You're listening to Stephen Flurry and this is the Trumpet Daily. We thank you for joining us on today's show and we'll see you tomorrow. We better see you tomorrow.