(Tiberias, Israel) — Fascinating but troubling events here in Israel and the epicenter. Shaul Mofaz, the Vice Prime Minister, and his Kadima political party resigned from the Netanyahu government yesterday. Terrible bloodshed continues in Syria as the Assad regime continues to murder it’s opponents by the thousands. Iran continues to pursue nuclear weapons and Israeli leaders try to figure out a way to stop them, even if it means war. And there are growing fears of a major earthquake occurring in Israel soon; experts say the “big one” is long overdue. Meanwhile, Lynn and the boys and I and some dear friends continue to do humanitarian relief projects with The Joshua Fund throughout Israel, helping care for the poor and needy while also teaching the Word of God.
Yet even as I have been so focused on Israel and the epicenter over the past several weeks here in the Land, I remain deeply concerned about the future of my own country back home. As I write about in Implosion: Can American Recover From Its Economic & Spiritual Challenges In Time?, the risks of an American collapse are growing. Since the release of the book on June 12, the warning signs of such a potential collapse have actually increased. The latest warnings come from the head of the Federal Reserve. We’ve also seen three California cities implode financially and file for bankruptcy in recent days. We urgently need to be praying for the Lord’s mercy on the United States, and for a Third Great Awakening to sweep the Church and the country. Nothing less will save our country. It’s that serious.
- Headline: “Bernanke: Economy Faces Dire Risk From Fiscal Cliff.” Ben Bernanke, chairman of the U.S. Federal Reserve, said on Tuesday that “U.S. fiscal policies are on an unsustainable path, and the development of a credible medium-term plan for controlling deficits should be a high priority. At the same time, fiscal decisions should take into account the fragility of the recovery.” Bernanke “has warned lawmakers repeatedly that their failure to stop the combination of tax increases and spending cuts that are set to occur at the end of the year, known as the ‘fiscal cliff,’ will hurt the economy. On Tuesday, he emphasized the tightrope lawmakers must walk.”
- “The main threat to the economy is shifting from what others may do to us to what we are doing to ourselves,” reports the Washington Post. “For much of the year, economists worried about the impact of the slowdown in Europe on the U.S. economy. Now, analysts say anxiety about the impact of the fast-approaching fiscal cliff — the series of federal spending cuts and tax hikes set to take effect at the beginning of 2013 if Congress and the Obama administration do not act — is displacing Europe as the primary threat to the nation’s sputtering economy. Morgan Stanley said this week that concerns about the fiscal cliff are reaching new heights across a wide range of industries. It is already seeing reductions in business orders and hiring, among other areas. ‘While our analysts are somewhat less worried about the impact of European bank strains,’ a Morgan Stanley report said Monday, ‘the negative impact of fiscal cliff uncertainty is becoming more widespread.’”
- Headline: “Another California city opts for bankruptcy — San Bernadino”
- Headline: “Stockton, California files bankruptcy petition”
- Headline: “Mammoth Lakes, California files for bankruptcy”