Talk Markets: The COVID pandemic has caused the gap between the ultra-wealthy and the rest of us to grow larger than it ever has been before. Thanks to the hyperinflationary policies of the Federal Reserve and our politicians in Washington, stock prices have soared to unprecedented heights in recent months.
This pushed the wealth of the uber-rich to dizzying heights, but for the rest of the country, 2020 was an unmitigated nightmare. As I have discussed previously, one survey found that 2020 was a “personal financial disaster” for 55 percent of all Americans. More than 110,000 restaurants shut down permanently last year, Americans filed more than 70 million claims for unemployment benefits, and tens of millions are potentially facing eviction in 2021.
But even though we are mired in the worst economic downturn since the Great Depression of the 1930s, those at the very top of the economic pyramid are laughing all the way to the bank.
Earlier today, I came across a tweet from Sven Heinrich that really struck an emotional chord with me…
655 people have $4 trillion in wealth.
200 million can’t cover a $1000 expense.
Opinion: Our back-up editor VS reminds me that blogging is like being at a cocktail party. As you move from person to person, you wind up telling the same story over and over. This post is like that. Regular readers will know why the wealth disparity is growing exponentially.
To the 100 new readers that come here via searches each day …
Quantitative Easing (QE), or money printing, makes asset prices (stocks bonds real estate) rise while debasing the value of existing currency. Eventually, the flood of new currency will destroy the economies of the West, and at this point there is nothing anyone can do to stop it. The only question is when?
How can we be sure? Revelation 6:5-6 describes an economic judgment: global hyperinflation. Prophecy students work backwards from what we know will happen and then try to fill in how we get there.
“Do not harm the oil and wine” is found in Revelation 6:5-6. Those 7 words come at the end of the verse following a grim description of a person having to work a full day to have enough money to feed themselves for the day: “A quart of wheat for a denarius”.
Then it gets worse: “three quarts of barley for a denarius” or a lesser nutritious food mostly used for livestock.
It is the 3rd judgment of the tribulation with 18 more to come. Oil and wine are commodities that only the rich can afford in economic turmoil. If we put on our Biblical lens, we can see the end result of the massive wealth disparity found in the headline of this post:
“655 People Have $4 Trillion In Wealth. 200 Million Can’t Cover A $1000 Expense.”
See our paper “The 1% and Revelation: Do not harm the Oil and Wine” here