During the COVID Pandemic governments all over the world borrowed record amounts of money to support individuals and businesses who had been affected by lockdowns and a down turn in their economy. Currently the USA has a debt of over US$30 trillion while Australia has a debt of US$700 billion.
Inflation is rising at an alarming rate in every country in the world with a number of them being technically bankrupt. Currently China is experiencing a real estate downturn with an increasing number of people have stopped paying their mortgages due to a crazy scheme where people have bought apartments off the plan and are paying mortgages for them but they have not been built and are unlikely to be completed. The second largest real estate company in China, Evergrande, is unable to pay the interest on debts of over US$300 billion and they are not the only real estate company in trouble. The knock on affect is that the banking system is now under pressure as they are dependent on receiving payments on loans if the are to stay solvent.
What does all this mean for the future? There are number of economists who believe that we are not just heading into a recession but into a worldwide depression. If this is the case the value of our money could decrease dramatically and superannuation and investments could be greatly reduced by a stock market crash. The fact is that having money in the bank, superannuation, stocks or property is no guarantee of future financial security. We are entering unchartered waters and no one knows how bad things might get. What we are witnessing could be the catalyst for global economic reset that would include a digital currency and a social credit score to be able to buy and sell.
If there is a global economic crash the only thing that will give us some security is to be in a position to provide for our own basic needs, food, water, shelter and energy. The counsel that we have had for over 100 years regarding country living and preparing for the time of trouble is more relevant now than any point in recent history. The information above is not to try a scare people into some form of action but to encourage people to pray and seek for wisdom to know what they need to do for themselves and their family to insulate themselves as much as they can from the increasing political, environmental, social and economic problems.
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